Group 11, a joint venture between uranium developer enCore Energy (40%), and the gold producers EnviroLeach (40%) and Golden Predator Mining (20%), plans to acquire and test existing gold projects that fit its patented in-place mineral extraction solution.
The company's ISR system uses a series of wells to inject and recover diluted water based-solutions which selectively dissolve valuable metals such as copper, uranium, and gold, according to a launch slide entitled "The future of gold mining".
The company stated that its ISR method removes the need for open pits or underground tunnels, as well as tailings or large waste dumps and noxious chemicals at surface.
"It therefore has the potential to be a low-impact, low capital cost mining method", said Group 11.
EnCore has contributed US$750,000 in initial funding and will provide in-situ extraction expertise, while EnviroLeach has entered into a license agreement with Group 11 for the use of its environmentally friendly metal recovery process and will provide chemical and metallurgical expertise.
Golden Predator will contribute mobile processing equipment and expertise in utilizing EnviroLeach's environmentally friendly solution for recovery of gold from sulphide concentrates.
"We are very excited to be a part of this important and disruptive new mining initiative. The in-situ recovery of gold using the EnviroLeach/Group 11 combined processes has the potential to change how the world mines gold," said Duane Nelson, president and chief executive of EnviroLeach.
Dennis Stover, chief executive of enCore Energy stated: "The enCore team members were active inventors and innovators in the earliest stages of developing and commercializing ISR technologies for the US uranium mining industry and continue these leading efforts today. We look forward to applying our expertise with this proven, environmentally sound technology to the recovery of precious and other metals."