The Canada-based group said the cost-effective, non-toxic solution will target deposits previously not mineable due to environmental concerns and smaller deposits where capital expenditures are not justified.

In addition, it will be ideal for deposits in areas where permitting and a lack of water prohibits mining, and for on-site clean-up of contaminants and hazardous metals, as well as other metallic solids soil contamination.

"Our HM X-tract proprietary mining technology, combined with a unique operational system results in an environmentally responsible, non-toxic process for precious metal reclamation which requires no tailings ponds and consumes 80% less water," CEO Greg Pendura said, adding that the system can recover, highly efficiently, from both alluvial and crushed hard rock deposits as well as old tailings.

"The new technology allows us to deploy rapidly, process efficiently and decommission quickly in an environmentally sound manner with little capital expenditure and significantly reduced permitting process."

According to the company, the modular-designed HM X-tract portable processing unit combines water clarification and filtration technologies to allow mine sites to recycle most process water, allowing them to conserve water, minimise environmental discharge and significantly reduce or eliminate the needs for tailings ponds.