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Re: News Release - Wednesday, June 24, 2009
Bactech Lays Groundwork For Feasibility Study
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Toronto, Canada, June 24, 2009 -- BacTech Mining Corporation ("BacTech"
or the "Company", TSX.V: BM) today announced that it has engaged the
services of MPI Drilling of Picton, Ontario, to conduct a sonic drill
program on the Castle Mine tailings near Gowganda in northern Ontario.
The drill program is anticipated to begin the week of July 6th and will
recover large 4 inch diameter cores from 10-12 holes.
The purpose of the drill program is to obtain information that will be
an integral part of the upcoming feasibility study which will determine
the economic viability of the bioleaching facility the Company proposes
to build in Coleman Township. The study will be completed under the
guidance of Peter Secker, recently appointed Project Manager, who is
relocating to Toronto in July. Drill core generated by the program will
be first assayed for metal content before being subjected to gravity
and flotation concentration. The concentrate will be used as a source
of material for additional bioleach work, arsenic stabilization, and
downstream metal recovery test work. In addition, the program will
allow for BacTech to better understand the distribution of metals, both
vertically and horizontally, throughout the tailings area, as well as
the depth of the tails.
In late May, LGL Limited of Burlington, Ontario, began a surface water
assessment in the vicinity of the Castle Mine tails on behalf of
BacTech. The purpose of the assessment will be to collect baseline
environmental information regarding water quality and the aquatic
community in the lakes and streams surrounding the tailings. LGL is
conducting a similar study in the Cobalt area for the Ministry of
Northern Development and Mines ("MNDM") which will be of great use to
BacTech when it is completed and made public in approximately 12
months.
>From 1967-2002, a number of studies were carried out by federal and
provincial governments in the Cobalt area to assess contamination
levels of arsenic and other metals. These studies all indicate
widespread arsenic contamination in the surface waters of the Cobalt
and Gowganda areas. BacTech's bioleaching technology will assist in
stabilizing arsenic, while at the same time recovering metals such as
silver, cobalt and nickel for resale.
On June 9, Company President and CEO, Ross Orr, traveled to meet with
the Matachewan First Nations band to present the proposed plans BacTech
has for the area. Also in attendance were 3 individuals from the MNDM,
and a positive question and answer session followed a presentation.
BACTECH PROFILE
BacTech owns patented bacterial oxidation technology for the treatment
of refractory ores and concentrates to enhance the recovery of gold,
silver and base metals. The Company's focus is the acquisition of
equity positions in projects amenable to bioleaching. In June 2008, the
Company signed an agreement to acquire Yamana Gold Inc.'s 33% interest
in two refractory gold deposits in Papua New Guinea. In September 2008,
BacTech signed an MOU to investigate the use of bioleaching to
reprocess arsenic-laden tailings in Cobalt, Ontario. This is the
Company's first foray into the cleantech industry. BacTech is
continuing to evaluate additional remediation projects.
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For further information contact:
Ross Orr, President & CEO, 416-813-0303 ext 222
Investor Relations:
Pierre Anglos 1-800-436-2027 Email: capitalgainsco@shaw.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2009 BACTECH MINING CORPORATION (BM) All rights
reserved. For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : BM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
BacTech Mining is a gold development stage company based in Canada. BacTech Mining holds various exploration projects in Armenia. Its main exploration properties are FERGUSSON ISLAND in Papua New Guinea and LICHKVAZ-TEY in Armenia. BacTech Mining is listed in Canada and in United States of America. Its market capitalisation is 4.3 millions as of today (US$ 3.0 millions, € 2.7 millions). Its stock quote reached its highest recent level on January 30, 1998 at 99.50, and its lowest recent point on April 22, 2016 at 0.03. BacTech Mining has 47 442 200 shares outstanding. |