Group 11 Acquires First Precious Metals Test Projects
October 14, 2020 at 14:20 PM EDT
Launches Work to Demonstrate Commercial in-Place Mining
DALLAS, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Group 11 Technologies Inc., (“Group 11”) a US-based private company committed to testing and implementing environmentally responsible, commercially viable, in-place recovery of precious and other metals (“In Place Mining” or “IPM”), announced today it has successfully acquired four gold projects in Nevada and New Mexico (“the Projects”) for initial testing of its proprietary IPM technology. Together they represent a cross-section of potential applications of Group 11 IPM technologies, providing an opportunity to test diverse parameters for the application of IPM.
The projects have previously identified mineralization through drilling and sampling and represent a cross-section of potential applications of Group 11 IPM technologies. These projects provide an opportunity to test diverse parameters to consider their potential for IPM. Full data sets have been collected for each project and are being evaluated by Group 11’s technical team. Various factors including rock type, geologic setting, mineralogy, and water table levels are considered in project selection, criteria and initial test design work. Initial controlled lab testing of samples is to begin in the near future in advance of field testing. All projects are located in established US mining jurisdictions with excellent, all year access.
“The projects we have selected represent valuable precious metal opportunities which, for various reasons, have not advanced beyond exploration,” said Janet Lee-Sheriff, President. “Previous work has provided sufficient technical information to allow for design and testing of a variety of geologic settings and types of mineralization to determine the suitability of our technology for IPM recovery of gold and other metals. We are excited to begin this work and develop our thesis that IPM can revolutionize the mining industry.”
Lantern Project, Pershing County, Nevada
The geological setting is complex and includes gold and silver mineralization occurring as disseminations in lake sediments, volcanic fanglomerates, and quartz veins and stockworks in volcanic rocks. These settings offer a wide spectrum of deposit types to be tested for their amenability to Group 11’s IPM technology. In addition, both low-grade and high-grade mineralization and a variety of minerals including gold, silver, electrum and silver sulfosalts, sulfide, and selenides occur, furthering the range of possible testing parameters.
Historic drilling encountered gold and silver in several settings including:
Clayton Ridge Project, Esmeralda County, Nevada
Significant intercepts from three of these holes include:
Liberty Springs Project, Nye County, Nevada
Significant drill intercepts from three of these holes include:
Questa Blanca Project, Sierra County, New Mexico
Previous owners have completed several drill holes on the project with significant intercepts including:
The Option Agreement
Nevada Select Royalty Inc. retains a 2% Net Smelter Royalty on each property. A one (1) mile area of interest applies to the acquisition of surrounding claims.
Background on Group 11 Technology for Non-Invasive Metal Extraction
The Group 11 Team
Each Group 11 partner brings a vital skill set to address these challenges and create a unique business opportunity. Group 11 is backed by a top tier staff of scientists and engineers; an extraordinary data set; independent technical validations; strategic relationships; over $20 million in research and development and commercially proven processes and technologies.
About Group 11 Technologies Inc. (‘Group 11’)
Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction through IPM. The combination of non-invasive extraction technology and environmentally friendly processes to recover gold and other metals provides a possible alternative to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 is owned by Enviroleach Technologies Inc. (OTCQB: EVLLF) (CSE: ETI), Encore Energy Corp. (OTCQB: ENCUF) (TSXV: EU) and Golden Predator Mining Corp. (OTCQB:NTGSF) (TSXV:GPY).
Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu).
Cautionary Note Regarding Forward-Looking Statements