Auxico Acquires Worldwide Rights to a New Environmentally Friendly Extraction Technology
Momentum Public Relations
Press Release: May 25 2018
Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce that the Company has acquired worldwide rights to a non-mercury, non-cyanide gold and silver extraction process that is currently patent-pending. The metallurgical extraction process was developed by Central America Nickel Inc. for the extraction of energy metals such as nickel, cobalt, vanadium, scandium, manganese and copper. The process was then applied to gold and silver samples originating from Auxico’s Zamora gold and silver property located in Sinaloa, Mexico.
The process extracted over 90% of the gold and over 80% of the silver in less then one hour, without the use of cyanide and mercury. The process uses no pressure and no heat. Auxico has agreed to pay Central America Nickel Inc. a 2% net royalty on the production of gold on any deposit in the world where the process is used. Auxico has the option to buy back this 50% of this royalty (or 1% of the 2% royalty) at any time through the issuance of 2,000,000 common shares of the Company.
Auxico recently signed a Memorandum of Understanding with the Government of the Department of Bolivar (Colombia), with the goal of implementing the environmentally friendly technology. Auxico will be in charge of the financing and construction of gold producing operations in Bolivar, as well as the management of the export and sale of gold and/or gold concentrates. The Department of Bolivar will provide: the property on which the gold production will take place; physical security of the gold production operations; help with the permitting process; and the liaison with local miners who will supply mineralized material to the Auxico gold production operations.
The Minamata Convention, whose objective is to end the use of mercury by artisanal miners, has been signed by 128 countries. The Auxico process is expected to provide an economic industrial alternative to the use of mercury while generating a much smaller environmental footprint.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
« signed »
Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico.
- Published in Auxico Resources
Auxico Announces Memorandum of Understanding With the Department of Bolivar, Colombia, to Produce Gold
Momentum Public Relations
Press Release: May 8 2018
Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with the government of the Department of Bolivar to produce gold in this area of Colombia.
Under the terms of the MOU, both parties agree to work together to set up gold production operations in Bolivar, which will be managed by Auxico. For its part, the Bolivar government agrees to contribute the following:
- Property on which the gold production will take place;
- Physical security of the gold production operations;
- Help with the permitting process, including specifically any required environmental permits; and
- Liaison with local miners who will supply ore to the Auxico gold production operations.
For its part, Auxico agrees to contribute the following:
- Environmentally friendly technology that will not rely upon mercury or arsenic for gold production;
- Financing and construction of gold producing operations in Bolivar; and
- Management of the export and sale of gold and/or gold concentrates.
At present, there are two issues of importance to the Government of Bolivar that Auxico will address in this partnership. First, a lot of the current gold production is unlicensed and outside of any regulatory framework. Auxico does not intend to mine gold in Bolivar. Rather, it intends to form partnerships with local gold miners who will bring their ore to Auxico’s facilities to be processed. In this way, the Government of Bolivar, through the operations of Auxico, will set up a legal and regulated framework for gold production in this Department of Colombia.
Second, the current unlicensed gold production in Bolivar is often occurring with the use of mercury, which is having a significant negative impact on the environment. By professionalizing the production of gold, and by eliminating the use of mercury in gold production, as outlined in the 2013 United Nations Minamata Convention on Mercury, Auxico will be conducting its operations in an environmentally responsible manner.
Auxico and the Government of Bolivar agree to work together in partnership in this regard and to share the profits of Auxico’s gold production operations in Bolivar, with 75% of net profits going to Auxico and 25% going to the Government of Bolivar.
Both parties agree to negotiate and conclude definitive agreements as quickly as possible.
Mark Billings, President of Auxico commented, “Auxico is pleased to move forward with the Government of Bolivar to produce gold in this area of Colombia. Our team recently met with the Governor of Bolivar, Dumek Turbay, and other government officials in Cartagena, the capital of the Department of Bolivar. We were pleased with the amount of support this concept has. The board and management of Auxico are eager to work with our colleagues in Bolivar to set up gold operations that will not have a negative impact on the environment and that will provide benefits to our stakeholders.
About the Department of Bolivar, Colombia
The Department of Bolivar is located in the northwestern part of Colombia and resembles a tongue that extends from the Caribbean Sea in the northeast section, to the jungles of Carare on the dividing line with the Department of Antioquia. The capital of the department is Cartagena, which is the first city in the Americas to be colonized by the Spanish.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) in a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
- Published in Auxico Resources