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NEWS! EnviroLeach Provides Corporate Update

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TPX Member Level  Monday, 06/15/20 11:57:04 AM
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NEWS! EnviroLeach Provides Corporate Update

June 15, 2020

VANCOUVER, BC / ACCESSWIRE / June 15, 2020 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (ETI.CN) (OTCQB:EVLLF) (7N2.F) is pleased to provide the following corporate update regarding its E-Waste and mining operations and business initiatives.

COVID-19 Pandemic Effects

EnviroLeach recently returned to full staffing levels at its office, laboratory and the EviroCircuit E-Waste processing facility. In early March, all Company offices and facilities incorporated recommended safety protocols and offered staff the opportunity to work remotely, where circumstances allowed. The EnviroCircuit facility remained operational during this time. The COVID-19 pandemic significantly disrupted the E-Waste supply chain domestically and internationally. Material shipments stalled across Asia, Europe and North America as international borders closed, port facilities reduced operations, and recycling plants temporarily closed or decreased activities. This global disruption impacted EnviroLeach's operations, notably the staged production rate increase to full plant capacity announced in late 2019.

In response to this unprecedented operating environment, EnviroLeach has worked to expand its supply chain network with marketing initiatives targeting domestic and international recyclers and OEM's with promising results. It is anticipated supply movements will re-commence through the summer months, and the Company expects feedstock acquisitions will increase from diverse sources. Due diligence is now underway with several potential suppliers in accordance with best E-Waste recycling industry practises.

Jabil Technical/Economic Study

As reported in a February 20, 2020 press release, since November 2019 the EnviroCircuit facility has been dedicated to processing material supplied by Jabil as part of extensive technical studies and economic and environmental assessments of the EnviroCircuit process. These exhaustive studies have provided valuable technical and economic data and insight for the both the Company and Jabil.

The tests included detailed analysis of material process flow and compostion through each step of the EnviroCircuit process, R2 certification compliance, metal recoveries, process audit capabilities, reagent consumption and reuse, air emissions, process costs, carbon dioxide equivalent emissions, and process economics compared to the smelting of printed circuit boards.

The test program's objective was to generate data-driven intelligence as a component of due diligence on our newly commissioned facility for Jabil and other potential clients and upstream partners. The data generated has produced a refined E-Waste processing and pricing model on which the Company bases continued negotiations for E-Waste supply agreements with Jabil and other potential upstream partners.

The results of of this six-month technical and economic assessment has confirmed both the commercial and technical viability, and the competitive economic and environmental advantages of the EnviroCircuit process as compared to the conventional smelting of printed circuit boards.

The continued facility optimization through the test period resulted in sustained processing rates of one tonne per hour which meets the original facility design production targets. The optimization program also generated improved metal recoveries, higher metal concentration and lower operational costs. Overall metal recoveries are now consistently over 90% while chemical consumption and other process costs have been significantly reduced. These higher metal recoveries and reduced costs will ultimately result in greater operational margins.

Gold Mining and In-Situ Mineral Applications

EnviroLeach continues advanced metallurgical testing on concentrate materials from multiple mining clients. Using the Company's patented non-cyanide based leaching formula gold recoveries consistently exceed 90%. While the degree and timing of partner due diligence varies, testing programs continue to demonstrate compelling economics for the EnviroLeach formula and process.

The Company continues to perform detailed metallurgical testing and economic studies on both gravity and flotation concentrates with positive results. In most cases recoveries and leach kinetics are comparable or superior to conventional cyanide leaching. Recent test results on arsenopyrite based concentrates were positive which may open a significant new market for the Company, as these concentrates currently have limited processing options and markets.

https://finance.yahoo.com/news/enviroleach-provides-corporate-140000234.html

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