BacTech Mining Corp

Published : April 13th, 2010

Announces Agreement With Blackstone Development

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Cobalt |
=======================================================================
Re:   News Releases - Tuesday, April 13, 2010
      BacTech Announces Agreement With Blackstone Development
=======================================================================

Toronto, Canada, April 13, 2010 -- BacTech Mining Corporation
("BacTech" or the "Company", TSX.V: BM) today announced that it has
signed an agreement with Blackstone Development Inc. ("Blackstone") of
Cobalt, Ontario, granting the Company access to Blackstone's
considerable tailings inventory in the Cobalt camp in Northern Ontario.

Under the terms of the agreement, BacTech will pay $10,000 to
Blackstone and issue 1,000,000 common shares in the BacTech reclamation
company that will be created following the  proposed reorganization
(announced January 12, 2010). Also, an additional 100,000 shares will
be issued to Blackstone annually for the life of the project, and a 2%
NSR will be paid to Blackstone on any metals recovered from the
tailings. 

It is believed that there are considerable amounts of silver, cobalt,
nickel and copper still in the tailings. BacTech will undertake a field
program to determine the grades of the various tailings deposits to
identify suitable production candidates. The initial workplan will
focus on investigating the use of the Company's proprietary technology
to stabilize the contained arsenic in the tailings, in addition to
recovering the contained metals deemed to be economically recoverable
for its own account.

The tailings are a result of extensive silver mining in the Cobalt area
from the early 1900s. Given the lack of environmental protocols and
technical inefficiencies during the historical mining, considerable
amounts of waste rock and tailings were deposited in and around lakes
in the area, and that has led to the liberation of heavy metals and
arsenic into the local water systems.

The Blackstone tails cover the majority of the Cobalt camp that, at one
time, was the most prolific silver mining camp in modern times. The
claim package includes more than 50 past-producing mines and their
related tailings. Blackstone estimates that as much as 8 to 10 million
tonnes of tailings are situated on their land package.

BacTech plans, subject to establishing economic grades of recoverable
metals, to build a demonstration plant in the Cobalt area to retreat
concentrates recovered from the existing tailings. A proposed site for
the plant was also identified on a recent visit to Cobalt.

Testwork was conducted by BacTech on samples collected last summer from
the Castle Mine tailings located near Gowganda (see news release June
24, 2009). Gowganda, located approximately 100 km from Cobalt, was
thought to contain mineral concentrations similar to those reported for
the Cobalt area. However, the Company was unable to duplicate the
reported metal content quoted by Gold Bullion Development Corp. at the
Castle tailings and, as a result, the Company will focus on the
Blackstone tailings going forward, with no further work planned at this
time for the Gowganda area tailings.

BACTECH PROFILE

In January the Company announced its intention to effect a divisive
reorganization whereby BacTech will transfer all of its interests in
mining projects and the rights to its bioleaching technology to a
wholly-owned subsidiary. The common shares of the subsidiary will be
distributed to the shareholders of BacTech upon completion of the
reorganization. BacTech will hold an exclusive and perpetual right to
use the bioleaching technology for projects related to environmental
remediation of mine tailings. Completion of the proposed reorganization
is subject to receipt of all required consents and approvals, including
without limitation, court approval, shareholder approval, and TSX
Venture Exchange approval. The special meeting of shareholders required
to approve the reorganization is scheduled for June 9, 2010.

BacTech owns patented bacterial oxidation technology for the treatment
of refractory ores and concentrates to enhance the recovery of gold,
silver and base metals. The Company's focus is the acquisition of
equity positions in projects amenable to bioleaching.
 
- 30 -

For further information contact:

Ross Orr, President & CEO:  416-813-0303 ext 222

Shares outstanding 89,264,706

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

=======================================================================
Copyright (c) 2010 BACTECH MINING CORPORATION (BM)  All rights
reserved.  For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
=======================================================================
.
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

BacTech Mining Corp

EXPLORATION STAGE
CODE : BM.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

BacTech Mining is a gold development stage company based in Canada.

BacTech Mining holds various exploration projects in Armenia.

Its main exploration properties are FERGUSSON ISLAND in Papua New Guinea and LICHKVAZ-TEY in Armenia.

BacTech Mining is listed in Canada and in United States of America. Its market capitalisation is CA$ 751 120 as of today (US$ 549 643, € 512 542).

Its stock quote reached its highest recent level on January 30, 1998 at CA$ 99.50, and its lowest recent point on April 22, 2016 at CA$ 0.03.

BacTech Mining has 8 836 707 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of BacTech Mining Corp
5/4/2012BacTech Closes Final Tranche of Oversubscribed Convertible D...
4/25/2012Bactech Environmental Closes First Tranche of Convertible De...
4/20/2012Bactech Environmental Announces Proposed Private Placement
12/13/2011Bactech Environmental Announces Proposed Private Placement
6/30/2011BacTech Environmental Closes First Tranche of Private Placem...
8/9/2010Closes Private Placement
10/16/2009Closes Final Tranche Of Private Placement
9/16/2009Closes First Tranche of Private Placement
9/10/2009Announces Private Placement
2/9/2009Announces Private Placement
5/5/2008 Closes Flow-Through Financing
4/8/2008 Announces Flow-Through Financing
2/20/2007Announces Increase In Flow-Through Financing To Meet Investo...
Nominations of BacTech Mining Corp
8/16/2010Appoints Director for Goldco
3/5/2010Appoints Goldco Director
2/22/2010Appoints Vice President, Metallurgy
8/18/2009Appoints Director
5/20/2009Secures Project Manager for Proposed Bioleach Plant
Project news of BacTech Mining Corp
10/12/2012BacTech Files Preliminary Economic Assessment Study
8/27/2012BacTech Releases Positive Preliminary Economic Assessment On...
8/2/2012BacTech Announces Assay Results For Telamayu Tailings
3/14/2012BacTech makes a Change to Board Mihychuk to Steer Snow Lake ...
3/1/2012BacTech Completes Test Work Program For Snow Lake
7/20/2011BacTech Drills Average of 9.6 g/t Gold at Snow Lake
7/19/2011BacTech Environmental Releases Assay Results on Snow Lake Ar...
5/27/2011BacTech Completes Drilling Program on Snow Lake Arsenopyrite...
5/4/2011BacTech Commences Drilling Program on Snow Lake Arsenopyrite...
11/17/2009(Lichkvaz-tey)Partner Caldera to Commence Collection of Samples at Armenia...
6/24/2009Lays Groundwork For Feasibility Study
11/19/2008Announces Completion Of Papua New Guinea Technical Report
Corporate news of BacTech Mining Corp
1/7/2013BacTech year-end message
11/12/2012Bactech Obtains OTC Pink Sheet Listing In U.S.
11/5/2012BacTech Commences Field Investigation on Snow Lake Plant Sit...
10/9/2012BacTech Provides Snow Lake Update
10/3/2012Option 3 Purchases 19.9% of BacTech
7/18/2012BacTech in the news
5/18/2012BacTech Begins Tailing Sampling at Telamayu, Bolivia
3/20/2012Bactech Reports Positive Bioleach Test Results
2/7/2012Bactech Answers The Question "What is Bioleaching?"
1/30/2012BacTech Article: My Take on Snow Lake
12/15/2011BacTech Announces Newalta's Participation in the Snow Lake B...
12/5/2011BacTech - Online Access for US Investors to the CNSX
8/16/2011Bactech Hires C.O.O. for Snow Lake and Mexico
8/3/2011BacTech in the news!
5/3/2011BacTech in the news!
2/24/2011BacTech Environmental Signs Agreement with Biominera S.A.
5/26/2010Obtains Manitoba Government's Permission For Test Work On Ne...
5/20/2010Minesite article on BacTech Gold
4/13/2010Announces Agreement With Blackstone Development
2/25/2010Increases Financing
1/12/2010Announces Spin-Out of Mining Assets
12/8/2009Partner Caldera Completes Gold Sampling Program in Armenia
10/6/2009Strategic Partner Receives Permit To Evaluate The Lichkvaz-T...
9/1/2009Weekly article on BacTech's tailings project
8/25/2009Provides Funding and Project Update
6/26/2009Reports Board Changes
5/14/2009Signs Growthink as Strategic Advisor
1/29/2009Partners with Haileybury School of Mines
1/26/2009Reports Improved Results on Tailings Metallurgical Test Work
1/21/2009Receives Conditional Approval For Purchase Of Yamana Gold As...
12/16/2008Partners with University of Toronto Researchers to Advance i...
12/5/2008Provides Update on Prudent Global Debenture
11/27/2008Provides Update on Government Grant Applications
11/12/2008to Repurchase C$3 Million Debenture with Cash and Shares
11/10/2008Provides Test Work Update on Castle Mine Tailings
9/25/2008Signs Second Bioremediation Agreement
9/15/2008PARTNER SHIPS TAILINGS FOR TESTING
9/2/2008And Gold Bullion Team Up In Cobalt Camp - Study Planned For ...
8/7/2008Closes First Tranche Of Note Financing
7/23/2008Announces Note Financing
7/10/2008Adds Two New Directors
6/18/2008Signs First Refractory Gold Project
5/27/2008Hires Vicarage Capital Limited
3/19/2008 Announces Termination Of Proposed Merger With Scorpio Gold ...
2/8/2008 Receives TSX Venture Conditional Approval for Merger with S...
1/7/2008 Shareholders Approve Merger
12/28/2007 Shareholders Approve Merger With Scorpio Gold Corporation
12/3/2007 Mails Scorpio Gold Merger Information Circular
10/29/2007 Signs Definitive Agreement for Scorpio Gold Merger
10/24/2007Arranges Bridge Financing
10/16/2007Provides Update
10/3/2007To Resume Trading October 4, 2007
7/26/2007Provides Mid-Year Update
6/19/2007Sells Back-In Rights to Gold Bioleach Technology in China
5/29/2007Resumes Work at Godbout Uranium Project
2/1/2007Hires Investor Relations Consultant
2/8/2007Announces Board Changes
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (BM.V)Other OTC (BMCFF)
0.085-15.00%0.080-6.32%
TSX-V
CA$ 0.085
04/29 16:36 -0.020
-15%
Prev close Open
0.100 0.085
Low High
0.085 0.085
Year l/h YTD var.
0.070 -  0.110 6.25%
52 week l/h 52 week var.
0.070 -  0.150 -43.33%
Volume 1 month var.
1,700 -15.00%
24hGold TrendPower© : -28
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 3/1/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20246.25%0.110.07
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.42-0.74%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.22+3.91%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-0.92%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.63+1.54%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.68+3.50%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.21-4.55%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.83+2.23%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.02+0.95%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04-2.63%Trend Power :