VANCOUVER, British Columbia, March 18, 2019 (GLOBE NEWSWIRE) -- EnviroLeach Technologies Inc. (the “Company “or “EnviroLeach”), (CSE: ETI) (OTCQB: EVLLF) (7N2: FSE) is pleased to report that advances in its formula have resulted in the selective dissolution of Palladium (Pd) from multi-metal sources into aqueous solution.
Recent test work on samples, using modified conditions of Enviroleach’s proprietary chemistry, was carried out to evaluate the extraction of palladium from ceramic based catalytic converters. Initial testing showed approximately 90% recovery of the contained palladium was achieved in less than 2 hours. Some of the early results are provided in the table below.
| Cal Head (g/t Pd) | Assayed (g/t Pd) | Residue (g/t Pd) | Recoveries (%) | ||||
| Test | 30 min | 60 min | 90 min | 120 min | |||
| CZ301 | 3,170 | 3,300 | 339 | 73.7 | 76.5 | 76.7 | 90.1 |
| CZ302 | 3,390 | 3,300 | 287 | 79.8 | 89.5 | - | 92.0 |
Initial electrowinning tests on the recovery of Palladium from solution was also positive. One sample, with an initial SOL grade of 159 PPM Pd, attained an 83% recovery of metal from solution within 40 minutes of the electrowinning process.
Further internal testing is planned to optimize the chemistry and leach conditions. Validation work will be contracted to an external lab after the internal development and optimization has been completed. Additional studies are also being performed on the effectiveness of our modified solution on the other Platinum Group Metals including Platinum (Pt). The Company is currently investigating the potential of pilot scale testing in Q3/Q4 of this year.
Duane Nelson, President and CEO of EnviroLeach, states; “I am very pleased that our environmentally friendly chemistry and process can be modified to extract palladium. This is another important breakthrough by our brilliant team of scientists and provides EnviroLeach with strategic access to another multibillion-dollar market sector”.
A catalytic converter is an automotive device used to convert toxic vehicle emissions to less harmful substances by way of catalyzed, or accelerated, chemical reactions. Most present-day vehicles that run on gasoline, including automobiles, trucks, buses, trains, motorcycles, and planes, have exhaust systems employing a catalytic converter.
The current price of Palladium has now surpassed gold and is trading at $1,563 per ounce. Recent Automotive Catalytic Converter Market report by Allied Market Research, projects that the global automotive catalytic converter market size is expected to reach $183.4 billion by 2022, registering a CAGR of 7.7% from 2016 to 2022.
According to the “2017 PGM Market Report” from Johnson Matthey, throughout the last six years, the global shortage of platinum averaged 346,600 ounces annually, while the shortage of palladium was 806,300 ounces annually. These shortages highlight the need for auto catalyst recycling. It is estimated that up to 30 percent of PGMs will come from the recycling industry by 2021.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is a technology company that is engaged in the development and commercialization of environmentally-friendly technologies for the recovery of precious metals in the mining and E-Waste sectors. Using its proprietary non-toxic, water-based, and near neutral pH treatment process, EnviroLeach extracts precious metals from mining ores, concentrates, and E-Waste using only FDA approved additives at ambient temperatures.
Backed by a staff of highly experienced scientists and engineers, and based on years of research, including independent validations and pilot scale test programs, EnviroLeach’s technology is poised to become the world standard in eco-friendly extraction of precious metals in both the conventional mining and E-Waste sectors. Further information is available on the EnviroLeach web site: https://enviroleach.com
Forward Looking Statements
This News Release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,” “expects,” and “will” and words of similar import, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroLeach’s financial resources and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of EnviroLeach’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The CSE has not approved or disapproved of the information contained herein.
Contact Information:
Todd Beavis
EnviroLeach Technologies Inc.
info@EnviroLeach.com