Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Sonoran Desert Copper Corporation (TSXV: SDCU) ("SDCU'' or the "Company") is pleased to announce that the Company and its mine tailings solutions partner, Envirotek Remediation Inc. (ETK) have successfully concluded the first testing on a mine tailings sample from a large repository of copper slag tailings in Brazil. The proprietary ETK polymer process was developed to remediate mine tailings to landfill material or aggregates and other industrial end use materials.
Based on this successful test, the two companies will now form a special purpose vehicle (SPV), and a shareholders' agreement will be signed by the Parties for the purpose of commercializing the ETK solutions into the Mining Industry. The results of the ETK Remediation Procedure for the 20 Metal Toxic Characteristic Leaching Procedure (TCLP) analysis are all below the reported detection limit (RDL) or Guideline/Standards (G/S) for Canadian Class II Landfills. (Table 1).
Table 1: TLCP Results
RDL: Reported Detection Limit; G/S: Guideline/Standard (Class II Landfill). Analysis completed by AGAT Laboratories.
"Our waste treatment sequesters the toxic elements of mining tailings during the polymerization process and transforms the tailings into dry materials that will no longer produce a harmful leachate, as verified by the TCLP analysis of the resulting materials," stated Maria Conejo, CTO for ETK.
PRIVATE PLACEMENT FINANCING OF UNITS AND OPTION GRANT
As previously announced, the Company is offering up to 10,000,000 Units priced at $0.10, for aggregate gross proceeds of up to $1,000,000. Each of the Units will consist of one common share of the Company and one common share purchase warrant, with each warrant being exercisable for an additional common share at an exercise price of $0.25 for 24 months. The Warrants are subject to the right of the Company to accelerate the exercise period if, after the expiration of the 4-month hold, shares of the Company close at or above $0.50 for 10 consecutive trading days. Finders' fees in accordance with TSX Venture Exchange policies may apply to the Financing and all securities issued will be subject to a statutory four-month hold period. Proceeds from the Financing will be used for general working capital, the continuing development of the 4H Copper Project, and advancing further opportunities in the Mining Industry.
Further, the Company has granted 1,550,000 stock options to officers and directors of the Company. The options have an exercise price of 20 cents per share, expire five years from the date of the grant and are subject to TSX Venture Exchange approval.
AGAT LABORATORIES
AGAT Laboratories is a highly specialized Canadian company providing analytical solutions worldwide, including and is accredited under ISO/IEC 17025:2017. AGAT Laboratories services a wide spectrum of industries including Environmental Chemistry, Mining Geochemistry, Petroleum Testing, and Oil Sands Analysis.
ABOUT ENVIROTEK REMEDIATION
Envirotek Remediation Inc. has invested approximately CA$4.0 million into research and development and related expenditures on remediation solutions for industrial waste streams. These proprietary technologies are industrial waste stream remediation and bioleaching solutions. ETK's industrial waste streams remediation processes industrial waste like mine tailings materials through proprietary polymerization into disposable and/or reusable materials. These outputs may be repurposed to aggregates and other industrial end uses. ETK has also developed solutions for the bioleaching of industrial waste streams using microbes. The bacteria are stimulated in the ETK lab to promote more robust growth and utilize the industrial waste streams as a source of food and energy.
QUALIFIED PERSON
The technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects.
ABOUT SONORAN DESERT COPPER CORPORATION
Sonoran Desert Copper Corporation is focused on securing, developing and monetizing materials assets and technologies to build shareholder value.
On behalf of the Board of Directors of SONORAN DESERT COPPER CORPORATION
"Brian Leeners"
Brian Leeners, CEO & Director [email protected] / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
