Halifax, Nova Scotia/ Vancouver, BC – (May 18, 2021) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:ATURF) (FSE:AHUH) (“Sixth Wave or SIXW or Company”) is pleased to announce that it has executed a non-binding LOI to test SIXW’s patented IXOS® purification and extraction polymer (the “IXOS® Mining Technology”) on gold bearing tailings samples from the Barry-Hollinger Gold Mine (BHGM) in Eastern Ontario. Historical records from BHGM indicate production of slightly more than 250,000 tonnes of mill feed from which ~80,000 ounces of gold are reported to have been recovered. Data suggested a recovered grade of about 0.30 ounces per short ton or about 11g/tonne. It is estimated there are approximately 200,000 tons of tailings on the property which have been indicated to contain up to 16,000 ounces of gold. [1]
Under the terms of the LOI, BHGM will send representative ore samples to Sixth Wave for testing and analysis with the primary goal of determining the efficacy of using SIXW molecular imprinted polymer beads (IXOS®) on BHGM mine tailings. Sixth Wave will perform a combination of leaching and recovery tests, expected to start in June 2021, baring COVID-19 restrictions. The tailings test protocol could form the foundation for a business model that seeks to identify and recover gold from tailings at other mine sites in the Ontario mining district and throughout the world.
SIXW is currently engaged in the “Green Alternatives for Gold Leaching and Recovery” initiative (the “Green Alternatives Collaboration”) being undertaken in partnership with Centre Technologique Des Residus Industriels (CTRI) and a major top 10 Canadian gold producer (the “Testing Partner”). The purpose of the Green Alternatives Collaboration is to validate environmentally friendly alternative leaching technologies as well as the use of Sixth Wave’s IXOS® technology for the extraction of gold from both cyanide and alternative lixiviants. Testing will be undertaken on low grade tailings originating from the mining operations of the Testing Partner.
Upon successful completion and documentation of positive results of the BHGM test program, the companies will evaluate the economics of moving to an implementation phase incorporating the IXOS® Mining Technology into a pilot plant that can provide operations data and specifications for full-scale implementation.
“Sixth Wave is very interested in this project as a testbed for recovery of gold from tailings at BHGM and the potential to exploit and remediate tailings projects throughout the world. Conducting initial testing will help to develop a well-focused test plan that will validate and extend current laboratory testing and help both companies make defensible, data driven decisions about next steps toward adoption” noted Dr. Jon Gluckman, President and CEO of Sixth Wave Innovations Inc.
[1] Report on the Investigation of the Barry – Hollinger Deposits for Lebon Gold Mines Limited, prepared by James Tilseley and Associates Consulting Engineers, May 1994. Historic estimate, not completed using 2014 CIM definition standards on mineral resources and reserves, not supported by a report completed in accordance with National Instrument 43-101. A qualified person has not done sufficient work to classify these historical estimates as current mineral resources.
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction, purification, and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of commercializing its, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop, and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for detection, purification, and separation of viruses, biogenic amines and other pathogens, and nutraceuticals for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our web site at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jon Gluckman”
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: info@sixthwave.com
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws, including statements regarding the testing and performance of Sixth Wave’s IXOS® Mining Technology.
All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified using words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking information is based on certain key expectations and assumptions made by management of and Sixth Wave, including but not limited to: expectations concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies; legislative and regulatory environment of Canada; future production rates and estimates of capital and operating costs; estimates of reserves and resources; anticipated timing and results of capital expenditures; the sufficiency of capital expenditures in carrying out planned activities; performance; the availability and cost of financing, labor and services; and Rio2’s ability to access capital on satisfactory terms.
Sixth Wave believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this press release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in disclosure documents of Sixth Wave on the SEDAR website at www.sedar.com or the website of Sixth Wave (www. www.sixthwave.com). In particular, successful commercial deployment of the IXOS® technology is subject the risk that the technology may not prove to be successful in achieving sufficient environmental or production efficiencies, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for mining applications and the need for additional capital to carry out product development activities. Forward-looking statements included in this press release are made as of the date of this press release and such information should not be relied upon as representing its views as of any date subsequent to the date of this press release. Sixth Wave have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. Sixth Wave disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
