TORONTO, March 14, 2022 (GLOBE NEWSWIRE) — EnviroGold Global Limited (CSE: NVRO | OTCQB: RGOZF |FSE: YGK) (“EnviroGold Global” or the “Company“), a Clean Technology Company accelerating the world’s transition to a circular-resource economy through the production of Metals Without Mining, is pleased to provide an update on expected near-term growth milestones and the development of the Company’s global tailings reprocessing pipeline as key milestones are achieved on the way to commercial production of precious metals (gold, silver) clean-energy and battery metals (copper, zinc, lead) in 2022. The Company previously announced that the metals produced at its Hellyer Tailings Reprocessing Project and Buchans Tailings Reprocessing Project are expected are expected to show a 96% reduction in greenhouse gas (“HGH”) intensity per gold-ounce equivalent produced and an over 80% reduction in energy intensity relative to industry averages for conventional mining (link).
Recent major milestones announced by the Company include:
- Hellyer Tailings Reprocessing Project
- 83.5% Gold recovery rate and 94.6% Silver recovery rate demonstrated on the Hellyer Refractory Tailings with (pre HGM flotation processing) 634k oz Gold, 22.9M oz Silver, 14k tonnes of Copper, 176k tonnes of Zinc and 228k tonnes of lead with grades of 2.60 g/t Au, 94 g/t Ag, 2.33% Zn, 3.01% Pb and 0.19% Cu Contained in 6.37Mt of Measured & Indicated and 1.21Mt of Inferred Resources detailed in a 2020 JORC Historical Estimate (Link)
- Buchans Tailings Reprocessing Project
- Substantial Additional Tailings Indicated by Independent Geophysics Survey and Permitting Approval for the Buchans Tailings Reprocessing & Metal Recovery Project in Newfoundland and Labrador, Canada (Link)
Expected Near-Term Milestones Include:
- Announce Hellyer Project Financing
- In Q3 2021, the Company commenced project financing discussions for its Hellyer Tailings Reprocessing Project. The execution of the binding, definitive commercial agreement to reprocess the Hellyer Tailings in February 2022 accelerated project financing discussions
- The Company expects to announce project financing is in place for its Hellyer Tailings Reprocessing Project in Q2 2022
- Announce strategic operating partnership with global EPCM (engineering, procurement & construction management) companies
- In Q3 2021, the Company commenced initial commercial negotiations with several leading, global EPCM companies. The Company expects to announce a strategic operating partnership with a global EPCM firm in summer of 2022
- Publish Buchans Tailings Reprocessing Resource Estimate
- Start of the validation coring of the Buchans River Delta tailings
- Publish the results of the Buchans River Delta tailings coring program
- Develop Buchans River Delta Rehabilitation Project Scoping Study.
- Advance development of Major Tailings Reprocessing Project pipeline
- EnviroGold Global expects to announce additional binding, definitive commercial agreements covering major tailings reprocessing projects in the summer of 2022
Figure shows NVRO internally assessed relative project potential for top tailings reprocessing projects. Bubble size is proportional to recoverable metal potential. Y axis ranks tailings volume potential. NVRO generally targets tailings reprocessing projects with no less than 2M tonnes of tailings and gross recoverable metal value of US$ 100/tonne. NVRO’s “ideal” tailings reprocessing project targets are 6M tonnes of tailings and US$ 124/tonne.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4f19952-46bf-42bc-be9f-79b6edded3b0
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Ian Hodkinson, MAIG RPGeo, Chief Geologist of EnviroGold Global, who is a Qualified Person as defined in NI 43-101.
About EnviroGold Global
EnviroGold Global (CSE: NVRO) (OTCQB: RGOZF) (FSE: YGK), is a CleanTech company dedicated to creating shareholder value while establishing ESG & circular economy leadership by profitably reprocessing & remediating mine waste (tailings) to recover precious, critical & strategic metals – including gold, silver, copper & nickel. Led by CEO Dr. Mark Thorpe, the Company is strategically positioned to earn and maintain social license while capitalizing the estimated US$ 3.4 trillion of in situ metal value in global tailings. Dr. Thorpe is also the Chairman of the Canadian Mining Innovation Council.
The Company’s commercial strategy involves identifying, qualifying and developing tailings reprocessing opportunities, generally targeting tailings sites with at least 6M metric tonnes of tailings and gross recoverable metal value of $124/tonne of tailings. The Company has reviewed over 300 global tailings sites to date and through further market segmentation has identified potential targets exceeding US$10 billion in gross recoverable metal value.
EnviroGold Global acquires the metal recovery rights to tailings sites by leveraging a profit share business model to create an attractive value proposition for site owners. The Company’s low-CAPEX business model is designed to generate high free-cash flow & high target IRR while eliminating the risks of traditional exploration and extraction. The Company expects to produce metals with a carbon footprint up to 96% lower than conventional metal producers while reducing the environmental footprint of legacy mining.
As of January 2022, the Company has eight major projects in its global project pipeline including two major projects under definitive contracts and six additional major projects at various stages of commercial negotiation and detailed technical/economic review.
The Company expects to commence production of precious metals (gold and silver), clean energy metals and battery metals (copper, lead, zinc) in 2022 and is targeting seven major projects in commercial production by 2025.
Dr. Mark B. Thorpe
Chief Executive Officer
Telephone: +1 416 777 6720
Juan Carlos Giron Jr.
Sr. Vice President
Telephone: +1 416 777 6720
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. There is no relationship between the Company and the World Resources Institute or the Greenhouse Gas Portal and nothing in this news release should be interpreted as suggesting an endorsement by the World Resources Institute or the Greenhouse Gas Portal.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Graphical representations included in this news release are approximate representations which may vary from defined regulatory boundaries.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the expected terms of the Hellyer Tailings Reprocessing Project and its completion, the Company’s working relationship with the owner(s) of the Hellyer Tailings, the economic viability of the Hellyer Tailings Reprocessing Project and statements regarding any residual precious metals as a by-product of the remediation, the Company’s expansion of its reprocessing pipeline, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.