Finance Yahoo reports, excerpts pertaining Bolivia follows:
BacTech Moves Forward in Bolivia
TORONTO, CANADA–(Marketwired – Oct 17, 2016) – BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE:BAC)(OTC PINK:BCCEF) today provides a corporate update on its activities in South America.
BacTech management completed a trip to Bolivia and Ecuador the week of October 7th. In Bolivia, the Association Contract for the development of the remediation of tailings at Telamayu, Potosi, was signed between Empresa Minera Ambiental BacTech S.A. (“EMABSA”), BacTech’s 98% owned Bolivian subsidiary, and COMIBOL, the Bolivian state mining company, and was approved by the Bolivian Government by Law N° 831 dated September 15, 2016.
Management of BacTech met with the President of COMIBOL, Sr. Marcelino Quispe and his advisors, in order to coordinate the administrative aspects of the project. In attendance with BacTech was a geologist from Bumigeme Inc., a Montreal based engineering group who will be managing the process.
At the meeting, the President was informed that EMABSA will contract with Leduc Drilling of Bolivia to conduct a drill program on the Telamayu tailings. The program will see the drilling of 71 shallow drill holes, for a total volume of approximately 600 meters, using a Vibracore drill. It is anticipated that the drill program will begin within the next 30 days.
The collected core samples from the drill program will be submitted to assay laboratories in Oruro, Bolivia, and Canada. This will be the underpinning of a resource estimation following the guidelines established by Canadian National Instrument 43-101 reporting. Once the drilling program has been completed, the Company will immediately begin metallurgical test work to determine the appropriate method for metal recovery (see the Company`s previous press releases). A complete NI 43-101 compliant Preliminary Economic Assessment (“PEA”) will then be completed.
In Bolivia, BacTech’s partner is COMIBOL, the state mining company.
BacTech would like to confirm that Telamayu is the Company’s best option for achieving early cash flow and will be its primary focus. In the interests of stability, the Company will continue to evaluate potential projects that will be added to its pipeline inventory. Recently, BacTech has visited projects in the western United States at the request of their owners.
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. The Company’s principle focus is a high-grade silver/copper tailings project called Telamayu, located in Atocha, Bolivia, in association with COMIBOL, the state mining group. The Company signed an MOU with Duran Ventures Inc. to explore the viability of building a BACOX plant in Peru to treat high-grade gold/arsenic ores. Investigation has begun to identify similar opportunities in Ecuador. The Company continues to field enquiries globally with respect to additional opportunities for remediation, including licensing transactions for the technology.