Rio2 Limited (TSX-V:RIO, OTCQX:RIOFF) has said it is about to start the second phase test work of the IXOS purification polymer at its Fenix gold project in Chile.
The Vancouver-based gold company is working with Sixth Wave Innovations Inc out of Halifax on the second phase of test work, following the successful completion of ore tests at Sixth Wave’s Utah facility in August.
Rio2 is hoping that IXOS will lead to potential environmental benefits and reduce the Fenix operation’s carbon dioxide emissions, as IXOS operates at a significantly reduced power consumption and with fewer reagents than activated carbon, according to a statement.
READ: Rio2 set to continue testing with Sixth Wave Innovation's IXOS extraction technology
Sixth Wave will perform adsorption tests using IXOS beads with solution from installed heap leach columns to evaluate adsorption kinetics and other metrics, Rio2 told investors. Testing will include operation of the system under a variety of testing scenarios to validate the performance of IXOS and refine the cost/benefit analysis, it added.
“Sixth Wave is committed to making a positive contribution to the optimisation of the adsorption/desorption process of the planned future expansion of the Fenix Gold Mine from its initial throughput rate of 20,000 TPD,” said Jon Gluckman, CEO of Sixth Wave Innovations.
Alex Black, President and CEO of Rio2 added: “The Fenix Gold Mine will initiate operations with a carbon adsorption component of the processing plant but we are hoping that, as a result of this upcoming test work, the IXOS Process can be proven as a more cost-effective, energy-efficient and environmentally friendly solution for the adsorption process when we look to expand mine production in the future.”
Fenix currently holds 5 million ounces of gold in the measured and indicated category, with proven and probable reserves of 1.8 million ounces and inferred resources of 1.4 million ounces.
The project is located approximately 20 kilometers south of Kinross Gold’s La Coipa gold-silver mine, 60 kilometers north of Kinross’s Maricunga Gold Mine and 40 kilometers north of Hochschild’s Volcan Gold Project.
Stock options granted
Separately, Rio2 said it had granted 2.1 million incentive stock options to certain officers and employees. The options have an expiry date of January 11, 2027, and will vest in three equal tranches on each of the first, second and third anniversaries of grant. Each option entitles the holder to purchase Rio2 stock at a price of $0.65 for a five-year period from the date of grant.
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