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MEI Online: Environmental Issues: Latest News: March 2, 2015


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:: BacTech and Pala Sign a Term Sheet to Pursue the Development of Tailing Projects


BacTech Environmental Corporation is pleased to announce that it has signed a term sheet with Pala Investments Limited to pursue the development of tailing projects using its proprietary bioleaching technology.

BacTech has identified a pipeline of tailing projects that can benefit from the Company's strong metallurgical capabilities and proven proprietary bioleaching technology. BacTech's targeted tailing projects will have low capital requirements and are relatively quick to bring to production. The first project of that pipeline is the Telamayu tailings reclamation project in Bolivia ("Telamayu"). Telamayu consists of two separate tailings areas (Antigua and Nuevo) earmarked for remediation and is the result of many years of toll treating ores from four regional mines.

The term sheet contemplates a senior debt facility of up to US$10M to financie 100% of the capital requirements of bringing Telamayu into production. BacTech plans to conduct two drilling programs at Telamayu; firstly, a more detailed evaluation of the Antigua tailings to optimize the design of the processing plant; and secondly, to confirm the resource of the Nuevo tailings. Upon satisfactory results from the drilling programs, BacTech intends to build a 500 tpd gravity-flotation processing plant that will produce a copper cement concentrate and a silver concentrate.

Ross Orr, President and CEO of BacTech stated; "We are very pleased to be working with Pala to develop tailing projects and hope to advance Telamayu quickly, moving BacTech to a positive cash flow position, which is very important in these challenging markets."




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