BacTech Turns to Crowdfunding for Bolivian Acid Rock Drainage Remediation Project
November 12 2013 - 8:28AM
Marketwired Canada
BacTech Environmental Corporation ("BacTech") (CNSX:BAC)(OTC:BCCEF) (WKN:
A1H4TY) announced today that it is launching a Crowdfunding campaign to raise
capital for testwork for the Telamayu tailings remediation project in Bolivia.
The acid rock drainage (ARD) runoff from the abandoned Telamayu tailings has
been impacting the drinking water in downstream communities for many decades.
Should the test work prove positive, BacTech proposes to remediate the Telamayu
tailings at no cost to the community or government by deploying its proprietary
bioleaching technology. This unique approach is possible due to bioleaching's
ability to recover leftover valuable metals during the remediation process.
BacTech is hoping to harness the power of Crowdfunding to raise $30,000 (CDN) to
conduct all the necessary flotation and bioleach test work to determine if the
project is viable. If bioleaching can be proven as an effective solution,
BacTech believes the necessary funding can be arranged to build a bioleach plant
to process the material. BacTech will reach out to ethical, socially
responsible, cleantech and impact investment sources to finance a full-scale
remediation project.
BacTech has the full support of the Municipality of Atocha, surrounding
communities and the government of Bolivia to remediate the Telamayu tailings
using its bioleaching technology.
BacTech's Crowdfunding campaign page can be viewed at bit.ly/BugsEatRocks
Telamayu is a former mill near the town of Atocha, Bolivia that processed ore
from several local mines. The tailings at Telamayu contain over 5 million tonnes
of tailings dating back 100 years. Preliminary assays conducted by BacTech
showed very high levels of silver and copper as well as arsenic. The incidence
of acid rock drainage is very high as a result of the tailings containing very
high levels of sulphide minerals.
It is under these circumstances that the government of Bolivia approached
BacTech in 2012 regarding the massive environmental problems facing communities
all over the country. Remediation of the Telamayu tailings is the first step in
permanently solving these problems.
Ross Orr, President and CEO of BacTech, stated, "In these challenging financial
times companies are forced to be creative in their quest for capital. This
situation is unique in that the problem is real, there is a human impact and the
metal content is very high. We have an opportunity to raise capital for positive
environmental projects in an innovative way."
Orr concluded, "A non-traditional approach such as our Crowdfunding campaign is
especially necessary and relevant in a place like Bolivia, a difficult country
for raising conventional capital. I hope people join us and assist in this first
step of cleaning up a toxic problem which impacts the drinking water for the
people of Atocha and communities all over Bolivia."
To view the map accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/BAC1112.pdf
Atocha, Bolivia
This innovative global campaign will be hosted by the Catalyst Crowdfunding
platform. Catalyst is a collaboration between the Toronto-based Centre for
Social Innovation and HiveWire and projects listed on Catalyst must aim to have
a positive social or environmental impact.
Crowdfunding Partners
Catalyst Platform - http://www.csicatalyst.org/
HiveWire - http://www.hivewire.ca/
Environmental Communication Options - http://ecostrategy.ca/
BacTech Profile
BacTech is a pioneering, Canadian environmental technology company created in
2010 following completion of a Plan of Arrangement originated by BacTech Mining
Corporation (now called REBgold). REBgold was originally responsible for the
development and commercialization of the patented BACOX bioleaching technology.
BacTech Environmental has been granted a perpetual, exclusive license by REBgold
to use the BACOX technology for the remediation and reclamation of highly toxic
tailings and waste rock resulting from abandoned mining operations.
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Special Note Regarding Forward-Looking Statements
This news release contains "forward-looking information", which may include, but
is not limited to, statements with respect to future tailings sites, sampling or
other investigations of tailing sites, the Company's ability to make use of
infrastructure around tailings sites or operating performance of the Company and
its projects. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
believes" or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Forward-looking
statements contained herein are made as of the date of this news release and the
Company disclaims, other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information, results,
future events, circumstances, or if management's estimates or opinions should
change, or otherwise. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking statements.
Shares outstanding 48,755,027
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept
responsibility for the adequacy or the accuracy of the contents of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
BacTech Environmental Corporation
Ross Orr
President & CEO
416-813-0303 ext 222
416-596-9840 (FAX)
info@bactechgreen.com
BacTech Environmental Corporation
Oscar Alvarado
Project Coordinator
416-836-0721
oalvarado@bactechgreen.com
BacTech Environmental Corporation
Bill Mitoulas
Investor Relations
416-479-9547
billm@bactechgreen.com
www.bactechgreen.com
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