TORONTO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) ("EnviroGold Global" or the "Company"), develops and owns clean technology working to quickly supply society's need for low carbon economy metals from mine waste, is pleased to announce the successful completion of initial test work for its Smelter By-Product Project with a major global metal production company.
The initial test work, conducted by our inhouse team of experts, in conjunction with Brisbane Metallurgical Laboratories in Brisbane, Australia, focused on optimizing copper, silver, lead, zinc, and iron recovery from the smelter by-product, which results from previous metal processing operations. The results demonstrate another step change in efficiency in extracting critical metals from these by-product materials.
The test results confirmed excellent liberation of critical and precious metals using EnviroGold Global's proprietary hydrometallurgical process (NVRO process) and support moving to phase 2 testing. The company is pleased to report the initial test results on a leach of the smelter by-product showed a strong oxidation rate and recovered very high levels of metals. The value of the current feed to the NVRO process is estimated to be over US$900/tonne (based on current LME pricing).
| Metal | Recovery |
| Copper | 98% |
| Iron | 98% |
| Zinc | 98% |
| Lead | 42% |
| Silver | 27% |
The team will complete additional work to further understand and improve the silver recoveries.
The Company expects to further optimize these results in the Phase 2 test work. Phase 2 testing is expected to start in Q2 2024. With success in Phase 2, work will start on pre-pilot plant testing.
Mr. Malcolm Smith (CEO) commented,
"We are excited to be able to expand the scope of materials from which we can recover critical, strategic, and precious metals. We look forward to our continued journey to help the world bridge the gap in metal production that is predicted with the global transition to a low carbon economy."
About EnviroGold Global
EnviroGold Global is a CleanTech company that uses proprietary technologies to reduce the environmental liabilities of wastes and by-products from metal production projects while maximizing return for its shareholders. The Company is dedicated to establishing ESG and circular economy leadership by profitably reprocessing and remediating mine waste (tailings) and smelter by products to recover precious, critical, and strategic metals - including gold, silver, copper, zinc, and nickel. The Company intends to deploy a royalty model for its technology by licensing the NVRO process to waste and by-product owners.
Further Information
Mr. Malcolm Smith
Chief Executive Officer
Telephone: +1 416 777 6720
Email:?InvestorRelations@EnviroGoldGlobal.com
Website:?www.EnviroGoldGlobal.com
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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 pertaining to the use of funds from the Financing and the anticipated closing date of the Financing, 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.
