Rio2 Limited (TSX-V:RIO, OTCQX:RIOFF) is poised to continue testing Sixth Wave Innovations Inc's innovative extraction technology IXOS for potential use at its Fenix gold mine project in Chile.
The latest contract inked by the pair follows on from the successful completion of testing on samples of ore from the project at the nanotech group's Utah facility in Salt Lake City following a non-binding letter of intent (LOI) struck in September last year.
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The new testing will take place at Rio2's nearby Lince facilities in Chile and is earmarked to begin in the fourth quarter this year after the winter months, coronavirus (COVID-19) restrictions in Chile permitting.
Previous testing on Fenix ore has already confirmed that the IXOS Mining Technology outperformed activated carbon on several key metrics, including gold adsorption efficiency, ease of elution, and overall adsorption kinetics.
The new testing will include 50 days of on-site operation under a variety of testing scenarios to validate IXOS performance and determine additional details regarding the cost/benefit analysis, said Rio2.
Notably, the IXOS method operates at 'significantly reduced' power consumption with fewer reagents than activated carbon.
This could enhance Rio2’s environmental, social, and governance (ESG) position, the firm highlighted.
"Rio2 is always looking to embrace and trial new technology with the objective of bringing enhanced value to our stakeholders through the reduced capex/opex opportunities that innovative technologies may bring," said Alex Black, CEO of Rio2.
"The Fenix Gold Project is currently the largest undeveloped gold heap leach project in the Americas and we look forward to working alongside Sixth Wave during the development phase of the project."
Sixth Wave has patented technologies that focus on extraction, purification, and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). It is currently seeking to commercialize its IXOS line of extraction polymers for the gold mining industry.
Rio2 aims to take its Fenix asset to production in the shortest possible timeframe based on a staged development strategy.
Contact the author at giles@proactiveinvestors.com