Dundee Sustainable Technologies announces a Letter of Intent for the sale of a license for the Snow Lake tailings
18 4월 2018 - 4:45AM
Dundee Sustainable Technologies Inc. (“DST or the Corporation”)
(CSE:DST) is pleased to announce that it has signed a letter of
intent (“LOI”) with GMR Inc. (“GMR”) for the sale of a license to
utilize DST’s proprietary gold recovery and arsenic vitrification
technology (“DST Technologies”) on the Snow Lake tailings project
(the “Project”).
Through this agreement, DST received a $20,000
cash payment as an advance on right to utilise the DST Technologies
on the Project. In addition, DST will earn 5% equity interest in
the net income of the project. All metallurgical test work
associated to the evaluation of the Project will be conducted under
service contract agreements with GMR by DST at its technical
facilities in Thetford Mines.
Mr. Brian Howlett stated, “This provides the
Corporation with an additional project in its pipeline of future
users of its pyrolysis and arsenic vitrification process. DST is
looking forward to working with GMR to first sample and then
complete a several tonne bulk sample. DST’s goal is to prove that
it can extract and vitrify the arsenic to ultimately create a clean
concentrate that can be sold to the market.”
Mr. David LeClaire, the CEO of GMR Inc. stated,
“GMR believes that significant value can be extracted from these
tailing which contain significant amounts of gold associated with a
very high arsenic content.”
The Project is located in Snow Lake, Manitoba
and consists of arsenopyrite tailings known to contain residual
gold and silver contents. The tailings pile is currently controlled
by the Government of Manitoba. The Project is proposing a "no cost
to the taxpayer" deal in return for the removal and stabilization
of the arsenic, GMR could keep the recovered metals for its own
account. Historic resource estimates were generated in 2012
estimating the Snow Lake tailings to contain 264,596 tonnes grading
9.76 g/t of gold and 2.17 g/t of silver. (All historical resources
are categorized as Inferred resources using the meaning ascribed to
that term by the Canadian Institute of Mining (CIM), due to the
uncertainty which may attach to Inferred Mineral Resources, it
cannot be assumed that all or any part of an Inferred Mineral
Resources will be upgraded to an Indicated or Measured Mineral
Resource as a result of continued exploration. A qualified person
has not done sufficient work to classify the historical estimate as
current mineral resources and DST is not treating the historical
resources as current mineral resources. Confidence in the
historical estimates is insufficient to allow the meaningful
application of technical and economic parameters or to enable an
evaluation of economic viability.)
About Dundee Sustainable Technologies, a
corporation controlled by Dundee Corporation
The Corporation is engaged in the development
and commercialization of environment-friendly technologies for the
treatment of materials in the mining industry. Through the
development of patented, proprietary processes, DST extracts
precious and base metals from mineralized material, concentrates
and tailings, while stabilizing contaminants such as arsenic, which
could not otherwise be extracted or stabilized with conventional
processes because of metallurgical issues or environmental
considerations.
DST has filed, published and was granted patents
for these processes in numerous countries.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Brian HowlettPresident and CEODundee Sustainable
TechnologiesTel: (514) 866-6001 # 239Cell: (647)
227-3035info@dundeetechnologies.com
David LeClairePresident and CEOGMR Inc.Cell: (647)
262-1579david.leclaire@oberoncapcorp.com
FORWARD LOOKING STATEMENTS: This press release
contains forward-looking statements that address future events and
conditions, which are subject to various risks and uncertainties.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of numerous factors,
some of which may be beyond the Corporation’s control. These
factors include: general market and industry conditions, risks
related to continuous operations and to commercialization of new
technologies and other risks disclosed in the Corporation's filings
with Canadian Securities Regulators.
Forward-looking statements are based on the
expectations and opinions of the Corporation's management on the
date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
The Corporation expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
Neither the CSE nor its Regulation Services
Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this
release.
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