Group 11 Technologies Inc. Announces Commercial Launch
DALLAS, Texas, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Group 11 Technologies Inc., (‘Group 11 or the “Company”), a United States-based private company committed to testing and implementing non-invasive in-situ recovery (“ISR”) of precious metals with the use of environmentally friendly solutions, is pleased to announce its commercial launch. Effective August 28th, 2020 Group 11’s founding partners have finalized all necessary organizational, shareholder, and licensing documentation and will now commence formal operations. Group 11’s initial steps will include the acquisition and subsequent testing of already identified gold projects that demonstrate specific qualities lending themselves to the Company’s environmentally and economically superior processes. Group 11 is committed to providing commercially viable, sustainable alternatives to conventional mining for the extraction and processing of precious metals.
Group 11 was founded and is owned by enCore Energy Corp. (“enCore”) (TSXV: EU; OTCQB: ENCUF) with 40% of the common stock, EnviroLeach Technologies Inc. (“EnviroLeach”) (CSE : ETI; OTCQB: EVLLF) with 40% of the common stock and Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY; OTCQB: NTGSF) with 20% of the common stock. EnCore has contributed $750,000 in initial funding and will provide in-situ extraction expertise, EnviroLeach has entered into a license agreement with Group 11 for the use of its environmentally friendly metal recovery process and will provide chemical and metallurgical expertise, Golden Predator will contribute mobile processing equipment and expertise in utilizing EnviroLeach’s environmentally friendly solution for recovery of gold from sulphide concentrates. Group 11, a private company, will finance all ongoing research and development expenditures for in-situ and secondary recovery applications.
About Group 11 Technologies Inc.
Sustainable metals extraction is a serious challenge for the mining industry which faces mounting concerns over its environmental and carbon footprint, energy consumption, operational safety and especially its impact on water use and water quality while responding to an ever-increasing need for metals in our daily lives. Each Group 11 owner brings a vital skill set to address these challenges and create a unique business opportunity. Group 11 is backed by a first-class staff of scientists and engineers; an extraordinary data set; independent technical validations; strategic relationships; over $20 million in research and development; and commercially proven processes and technologies.
Duane Nelson, President, and CEO of EnviroLeach commented: “We are very excited to be a part of this important and disruptive new mining initiative. The in-situ recovery of gold using the EnviroLeach/Group 11 combined processes, has the potential to change how the world mines gold. This technology provides a relatively non-invasive, low CAPEX/OPEX alternative to conventional gold mining. This could unlock the value of thousands of smaller gold deposits, and those in sensitive environments. The combined talented teams of scientists, metallurgists, and executives have the necessary experience, expertise, and resources to drive this forward.
Dennis Stover, CEO of enCore Energy stated: "The enCore team members were active inventors and innovators in the earliest stages of developing and commercializing ISR technologies for the U.S. uranium mining industry and continue these leading efforts today. We look forward to applying our expertise with this proven, environmentally sound technology to the recovery of precious and other metals."
Janet Lee-Sheriff, CEO of Golden Predator said: “The completion of these Agreements is our first step in our in-situ mining initiative using the EnviroLeach recovery process. Mining needs to become less invasive and more sustainable. Group 11 is a unique combination of proven and proprietary knowledge to lessen the industry’s footprint without any sacrifice of efficiency. With Group 11, we have combined efforts to take our collective technological developments into a private company with experts in non-invasive mining and environmentally-friendly solutions. We intend to disrupt the mining industry.”
Background on Non-Invasive Extraction Technology
Non-invasive extraction of minerals has been successfully implemented in the mining sector with many innovators and patent holders in the field on the team at enCore, one of the Group 11 partners. These innovators pioneered In-situ Recovery (“ISR”) which has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide. Group 11 is committed to the development and application of ISR extraction for gold and other metals using EnviroLeach’s patented environmentally friendly process along with enCore’s expertise in ISR extraction. This combination of expertise will advance a business model that has potential to disrupt the conventional mining industry.
In-Situ Recovery (meaning ‘in place’) is a non-invasive extraction method that has transformed the uranium industry. In ISR, diluted water based solutions are circulated underground, dissolving the targeted metals, and returned to surface for further processing and recovery of the target metals. ISR means no open pits or underground tunnels, no tailings or large waste dumps and no discharge of noxious chemical at surface. It therefore has the potential to be a low-impact, low capital cost mining method. At the end of a mine’s life, when many projects are burdened by remediation and rehabilitation requirements, ISR means substantially reduced mine-closure time and costs compared to conventional practices. In addition, energy requirements, water usage and the environmental footprint of mining projects can be significantly reduced using ISR technology.
About enCore Energy Corp.
enCore Energy Corp., with assets entirely in the United States, has a 100% interest, free of holding costs, in 115,000+ acres (46,400 ha) of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. These deposits contain an estimated Indicated Mineral Resource of 26.6 million pounds of U3O8 at an average grade of 0.105% e U3O8. A portion of these resources are under NRC license. The Company also holds the Marquez project in New Mexico as well as a dominant land position in Arizona with additional properties in Utah and Wyoming. The Company owns or has access to an extensive collection of proprietary North American and global uranium data including the Union Carbide, US Smelting and Refining, UV Industries, and Rancher’s Exploration databases in addition to a leading collection of geophysical data for the high-grade Northern Arizona Breccia Pipe District.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is engaged in the development and commercialization of environmentally-friendly formulas and technologies for the treatment of materials in the mining and recycling sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process, EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives and ambient temperature water. EnviroLeach’s technology is emerging as a potential new standard for the provision of eco-friendly hydrometallurgical extraction of precious metals.
About Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its Quartz Mining and Water Licenses, in Canada’s Yukon. The 100% owned project has established resources grading over 1.0 g/t Gold and a Bankable Feasibility Study underway considering the economics of a restart of heap leach operations at the Brewery Creek Mine. Golden Predator Mining Corp. has spearheaded and successfully applied the EnviroLeach technology to the recovery of gold from sulfide concentrates where cyanide is not feasible or permitted, using its proprietary mobile recovery unit.
Group 11 Technologies Inc. (‘Group 11’) is a private US-based company committed to the development and application of environmentally and socially responsible mineral extraction. Its combination of non-invasive extraction technology and environmentally friendly processes to recover gold and other metals provides an alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption and safety while addressing a growing global need for metals in our daily lives. Group 11 is owned by EnviroLeach Technologies Inc. (CSE: ETI) (OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV:GPY) (OTCQB:NTGSF).
Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of copper (Cu), silver (Ag), and gold (Au). They were most likely the first three elements discovered.
For additional information:
Group 11 Technologies Inc.
970-844-6888
info@gr11tech.com
www.gr11tech.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
