BioteQ signs development agreement for second Mexico project
VANCOUVER, BC-BioteQ Environmental Technologies recently signed an agreement with Columbia Metals, a Toronto mining company, for the development of a water treatment plant at Columbia's Lluvia de Oro gold mine in northern Mexico. This is the second agreement between the two companies; the first related to technology development at the nearby La Jojoba project. The water treatment technology is a new application of BioteQ's sulfide technologies: the plant to be provided to Columbia will regenerate free and copper-complexed cyanide from barren solutions, which can then be recycled for gold extraction. In addition, the technology converts copper cyanide complexes to marketable copper sulfide which can be shipped to a refinery for final processing to copper products. The previous commercial agreement for La Jojoba provided for the joint development of the process during the engineering stages. This will be followed by a build-own-operate commercial arrangement under which BioteQ will own the treatment plant in return for metals recovered and fees charged for cyanide regeneration. BioteQ will supervise the process development test work for both projects on a cost-recovery basis. If the test results indicate that the Lluvia de Oro operation should have its own copper recovery plant, BioteQ will supply the technology on the same terms as agreed for La Jojoba. This technology has important implications for future gold mining operations. BioteQ's biological sulfide process improves on a process developed by SGS Lakefield Research, and is used by permission. Many of world's large known gold deposits occur as copper-gold compounds, others as copper-gold porphyry deposits. The new technology offers a cost-effective means of extracting the gold using a conventional cyanide system, while at the same time recovering cyanide-soluble copper that would otherwise pose technical, environmental and economic barriers to the development of some of these large copper-gold deposits. More information is available from BioteQ president and CEO Brad Marchant, 604/685-1243, FAX 604/685-7778, Web site www.bioteq.ca.