The Elements of Innovation Discovered
The Elements of Innovation Discovered
Metal Tech News - April 29, 2024
Innovation Mining is leveraging a cost-effective and eco-friendly alternative to cyanide to revive gold assets that have been stranded because they were too small or the use of cyanide is a non-starter.
Innovation Mining will carry out bulk tests of its gold recovery solution at the RV mine in Georgia.
In recent tests, Innovation Mining's NSOL formula recovered 92% of the gold from 2.5-gram-per-metric-ton ore after 12 days, compared with 90% using a 500-ppm cyanide solution.
The per-metric-ton cost to recover gold with Innovation Mining's NSOL formula is similar to that of cyanide.
When Duane Nelson stepped down from his leadership role at EnviroMetal Technologies, he had a vision of building a new clean-tech company to continue to advance the eco-friendly gold recovery solution that he had helped to develop – Innovation Mining is that company.
Formerly known as DynaVat Technologies, Innovation Mining is focused on applying its low-cost, stable, and sustainable alternative to cyanide to recover gold from low-grade deposits.
"This vital new discovery by Innovation Mining may offer the only economically viable alternative to the broad use of toxic cyanide on low-grade and complex gold deposits in the mining sector," Nelson told Metal Tech News in an email.
The per-metric-ton cost to recover gold with Innovation Mining's NSOL formula is similar to that of cyanide.
The company's proprietary water-based formula dissolves precious metals to create a stable metal complex that can be extracted from solution using conventional methods such as electrowinning, carbon, or ion exchange.
Innovation Mining, however, is not looking to license its formula to other mining companies, at least not yet. Instead, the company is applying its low-cost and more easily permittable gold recovery solution to revive gold assets that have been stranded because they were too small, the use of cyanide was a non-starter, and other factors.
"The opportunity to unlock the value of these deposits or stranded assets lies at the heart of the Innovation Mining business model," the company penned on its website.
Innovation Mining's gold recovery solution and business model have attracted an impressive board and technical advisory team that share Nelson's vision. This team includes Canadian Hall of Fame mining legend and heap leach mining pioneer Chester Millar, who serves as the chairman of Innovation Mining, and former Pretium Resources CEO Joe Ovsenek, who sits on the board.
Innovation Mining will carry out bulk tests of its gold recovery solution at the RV mine in Georgia.
To advance its vision of leveraging its technology to revive stranded gold mine projects in North America, Innovation Mining has entered into an option to acquire Royal Vindicator (RV), a small gold mining operation in Georgia that is serving as the proving ground for its gold recovery solution and business model.
Initial placer and underground gold mining began at RV in 1829. The mine closed during the Civil War and again during World War I. The current owner acquired the project in 2019 and is currently operating a small open pit mine that uses vat leaching to extract the gold.
Innovation Mining, which has an option to acquire RV, is ramping up the start of pilot-scale testing of its leaching solution there.
The bulk testing involves a series of whole-ore column leach tests and several 500-kilogram vat leach and heap leach tests performed on crushed run-of-mine ore from RV.
In recent tests, Innovation Mining's NSOL formula recovered 92% of the gold from 2.5-gram-per-metric-ton ore after 12 days, compared with 90% using a 500-ppm cyanide solution.
This comprehensive suite of tests, slated to get underway in June, will provide a detailed economic analysis and comparison of the Innovation formula to a conventional cyanide-based solution for this type of application.
British Columbia-based Innovation Mining recently raised over C$3 million (US$2.2 million) to carry out this research and development of the non-cyanide-based leach formula, as well as add new gold mining projects to its portfolio.
The company will be showcasing its eco-friendly gold recovery technology at the CIM Connect Mining and Technology Show in Vancouver, B.C., on May 12-14.
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
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