NanoStruck Technologies Inc. (the “Company” or “NanoStruck”) announces a non-binding Letter of Intent (“LOI”) signed with Tierra Nuevo Mining Ltd (TNM), a private exploration company with mining assets in Mexico BG Partners Corp., brought this business relationship to NanoStruck.
The LOI is to explore the potential of TNM engaging NanoStruck to recover gold and silver from TMN’s tailings material using the NanoMet Technology at TNM’s Noche Buena Mine site, located in Zacatecas state, 10 kilometers northeast of Goldcorp’s Peñasquito Mine. The Noche Buena mine began operations sometime between 1926 and 1930 and was worked continuously until 1992 when it was shut down due to the collapse of metal prices.
Brian Mok, Senior Mining Consultant at BG Partners Corp. said: "This is a great opportunity for NanoStruck to demonstrate its technology and expertise in the mine tailings industry.”
Bundeep Singh Rangar, interim CEO and Chairman of the Board said: “A credible counter-party greatly accelerates the development and go-to-market strategy of our unique mine tailings processing technology.”
About the Company
NanoStruck Technologies Inc. is a Canadian Company with a suite of technologies that remove molecular sized particles using patented absorptive organic polymers. These versatile biomaterials are derived from crustacean shells or plant fibers, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes. These could be used to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions. Or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the Company’s offers environmentally safe NanoPure solutions for water purification. The Company uses Environmental Protection Agency (EPA) and World Health Organization (WHO) guidelines as a benchmark for water quality and safety to conform to acceptable agricultural or drinking water standards in jurisdictions where the technology is used.
Additionally, the Company’s technology can be used to recover precious and base metals from mine tailings, which are the residual material from earlier mining activities. By retrieving valuable metals from old tailing dumps, the Company’s NanoMet solutions boosts the value of existing mining assets and reduces the need for new, costly and potentially environmentally harmful exploration and mining.
The Company’s current business model is based on either selling water remediation plants or leasing out units and charging customers on a price per liter basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metal recovered is shared with tailing site owners on a pre-agreed basis.