TORONTO, 04 Feb. 11, 2022 (GLOBE NEWSWIRE) — EnviroGold Global Limited (CSE: NVRO | OTCQB: RGOZF | FSE: YGK) (“EnviroGold Global” or the “Company”), a clean technology company accelerating the global transition to a circular economy of resources through the production of Metals without mining, is pleased to announce the approval of a key permit by the Government of Newfoundland and Labrador Department of Industry, Energy and Technology – Mineral Lands Division, related to its Buchans project. The receipt of the permit is an important step in EnviroGold Global’s work towards commercial production of gold, silver, copper and zinc from the Buchans project in 2023.
EnviroGold Global previously announced the results of an independent tailings geophysical survey from its Buchans project that indicated substantial additional tailings along the “Western Arc” tailings deposit extending from the central Buchans claims (link). The Company’s authorized sampling and analysis plan will use Vibracore-type technology to collect tailings from 99 points of the Jeff Wall claim, which are subject to EnviroGold Global’s definitive commercial agreement (link). EnviroGold Global expects to begin work on core sampling in February 2022. Core samples will then be sent for metals analysis and metallurgical testing, contributing to the development of a mineral resource estimate for the Buchans project at mid-2022.
Declaration of qualified person
All scientific and technical information contained in this press release was prepared and approved by Ian Hodkinson, MAIG RPGeo, Chief Geologist of EnviroGold Global, who is a Qualified Person within the meaning of NI 43-101.
About EnviroGold Global
EnviroGold Global (CSE: NVRO) (OTCQB: RGOZF) (FSE: YGK), is a clean technology company dedicated to creating shareholder value while establishing ESG and circular economy leadership by reprocessing and cost-effectively disposing of mining waste (tailings) to recover valuable and critical resources. & strategic metals – including gold, silver, copper and nickel. Led by CEO Dr. Mark Thorpe, the company is strategically positioned to gain and maintain social license while capitalizing an estimated US$3.4 trillion in situ metals value in global tailings. Mr. Thorpe is also Chairman of the Canadian Mining Innovation Council.
The Company’s business strategy is to identify, qualify and develop tailings reprocessing opportunities, typically targeting tailings sites containing at least 6 million metric tons of tailings and a gross recoverable metal value of $124/ton of tailings . The company has reviewed more than 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 metal recovery rights to tailings sites leveraging a profit-sharing 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 and high target IRR while eliminating the risks of traditional exploration and mining. The Company expects to produce metals with up to 96% lower carbon footprint than conventional metal producers while reducing the environmental footprint of traditional mining.
As of January 2022, the Company had 8 major projects in its global project pipeline, including 1 major project under contract, 1 major project subject to a memorandum of understanding and 6 additional major projects in various stages of commercial negotiation and detailed technical and economic examination.
The Company plans to begin commercial production of gold, silver and copper in 2022 and is targeting 7 major projects in commercial production by 2025.
Additional information is available on the Company’s website (link) and publicly available company presentation (link)
Dr. Mark B. Thorpe
Chief executive officer
Telephone: +1 416 777 6720
Email: [email protected]
Juan Carlos Giron Jr.
Senior Vice President
Telephone: +1 416 777 6720
Email: [email protected]
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 press release.
This press release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings forecasts, economic forecasts, operating forecasts and future amounts of capital expenditures. Any statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
The graphical representations included in this press release are approximate representations which may differ from defined regulatory limits.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates”, “expects” or “does not expect”, “is expected”, ” budget”, “planned”. “, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and phrases or may contain statements that certain actions , events or results “may”, “could”, “would”, “might” or “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 conditions of the Buchans Project and its completion, the Company’s working relationship with the owner(s) of the Buchans Tailings, the economic condition, the viability of the Project Buchans and statements regarding any residual precious metals as a byproduct of remediation, the company’s expansion of its reprocessing pipeline, and the company’s ability to accelerate the global transition to a circular resource economy. forward-looking information The contents of this press 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 of the clean technology and mining waste reprocessing industry; the 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 limit thereto: the potential inability of the Company to continue as an ongoing operation; the Company’s inability to accelerate the global transition to a circular resource economy, risks associated with the assessment of metallurgical recovery rates of mine tailings and waste and related volumetric assessments, risks associated with the mining industry and the recycling of mining waste in general; increased competition in the market for clean technologies and waste reprocessing; the potential unviability of the market for clean technology and mining waste reprocessing; incorrect assessment of the value and potential benefits of various transactions; the risks associated with possible governmental and/or regulatory measures regarding clean technologies and the reprocessing of mining waste; the risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks related 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 based will occur. Such information, although considered reasonable by management when prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press 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 differences between subsequent actual events and such forward-looking information, except as required by applicable law.