EnviroGold Announces Positive Initial Test Results With a Major Global Mining Company

EnviroGold Global Limited (CSE:NVRO) (OTCQB:ESGLF), a clean technology company accelerating the world’s transition to a circular-resource economy, is pleased to announce the successful completion of initial test work for a nickel tailings project with a major global mining company.

The initial test work, conducted by the company’s dedicated team of experts, in conjunction with SGS Lab in Vancouver, focused on optimizing nickel, copper, cobalt, and PGM recovery processes from nickel mine tailings, a byproduct of previous mining operations. The results demonstrate a step change in efficiency in extracting critical metals from these waste materials.

The test results confirmed excellent liberation of critical and precious metals using EnviroGold Global’s proprietary hydrometallurgical process and support moving towards phase 2 testing. The company is pleased to report the initial test results on a leach of floated concentrate showed a solid oxidation rate and recovered relatively high levels of metals – Ni (76.5%), Cu (63.4%), Co (80.1%), Pt (1.09 g/t), Pd (0.57 g/t).

The head grade of the floated concentrate that went into the initial tests averaged 0.97% Ni, 0.45% Cu, 0.24% Co, 1.60 g/t Pt and 0.57 g/t Pd.

The Company expects to further optimize these results in the phase 2 test work while also looking to recover iron ore and sulphur from residue. Phase 2 testing is expected to be completed in Q1 2024. With success in phase 2, work will start on pre-pilot plant testing.

The Company also announces that pursuant to its shareholder-approved restricted share unit plan (the “RSU Plan“), it has granted an aggregate of 1,191,277 restricted share units (“RSUs”) to certain directors of the Company (the “Eligible Parties”).

The RSUs shall entitle the Eligible Parties the ability to acquire one common share (each a “Share”) of the Company underlying each such RSU by delivering a notice of acquisition to the Company in accordance with the RSU Plan for a period of 5 years from issuance.

In accordance with the RSU Plan, the RSUs were priced at $0.25 and will vest one year from issuance.