VANCOUVER, British Columbia, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Company" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3), a leading provider of proprietary, cost-effective, and non-toxic precious metals extraction solutions to the E-Waste and mining industries is pleased to announce, along with its JV partner EnviroLeach Technologies, the completion of construction of the new proprietary three-stage concentration plant located in our new 13,600 square-foot facility in Vancouver, B.C.
As outlined in EnviroLeach’s Corporate Update, over the last 2 weeks approximately 10 tonnes of printed circuit boards were successfully processed to test the performance of the installation. The line ran at a sustained rate of 900 kg per hour and produced a very high-quality, pure metal concentrate which is saleable to one of our refining partners. The company projects an initial production rate of 10 tonnes per day and plans to add an additional shift when appropriate, increasing production to the designed rate of 20 tonnes per day.
To accommodate the processing of larger scale E-Waste such as complete power supplies, computer servers, telecommunication components and cable/satellite set top boxes, an additional large 4 cubic meter pre-shredder is being added to the line. The new pre-shredder is expected to be fully operational by October 15th.
The first load of 40 tonnes of printed circuit boards recently arrived and the Company has secured an additional 400 tonnes of low to mid-grade circuit boards, cable boxes, modems and PC/server power supplies which will be processed through October and November.
The new concentration plant allows for the economic extraction of all valuable metals from a significantly wider variety of E-Waste than was initially targeted. The process is able to separate, extract and monetize 4 fractions. The copper based precious metals concentrate will be sold to refiners while a ferrous metal and aluminum fraction will be sold to recyclers. The final light substrate fraction which contains approximately 50% of the precious metals value will be processed with the EnviroLeach formula.
The post-leached substrate material, or tailings, will be repurposed for use in construction materials. This new utilization of the tailings combined with the reduction of carbon emissions from smelting plus the EnviroLeach formula’s reusability will create the world’s only zero emission E-Waste recycling process.
The new “Dry Side” process, combined with the proprietary “Wet Side” leaching system, utilizing the eco-friendly patent-pending EnviroLeach formula, now delivers significant improvements in performance. The combined process results in estimated metal recovery rates in the 90% to 95% range.
The intention is to produce and ship 20 tonnes of the light substrate fraction from the Vancouver plant to the Jabil Memphis facility in November for full-scale tank leaching. This is being done to prove the feasibility of the complete processing cycle which incorporates the Company’s new concentrate methods.
“Both the Mineworx and EnviroLeach teams are to be commended for their achievements in the design and construction of the concentration plant,” commented Greg Pendura, President and CEO. The new modular plant was created in the new Vancouver facility in less than three months and the enhancements to the revised system cannot be overstated.”
About Mineworx
Mineworx is positioned for growth through partnerships with advanced mining and E-Waste opportunities utilizing its licensed non-toxic, cyanide-free precious metals formula and the proprietary and patent pending, environmentally friendly, portable extraction technologies. These innovations will increase and enhance business opportunities by deploying cost effective, extractive metallurgy solutions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Mineworx’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Mineworx believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Mineworx does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
For further information, go to www.mineworx.net
For further information contact:
MINEWORX TECHNOLOGIES LTD.
Rick Gliege, V.P. Corporate Development
250-751-3661
rick@mineworx.net