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Unlocking the value of low-grade and complex deposits
Unlocking Value ...
The Gold Mining Sector Today
Gold mining is facing a paradigm shift. Demand for precious metals is increasing, but resources remain scarce. Gold deposits are shrinking in both size and grade. Large-scale discoveries are becoming very rare.
Gold head grades have fallen over the last decade. The average gold grade was 1.31 g/t Au in 2023, down 13.4%since 2012. The average reserve grade was 1.26 g/t Au.
These lower grades require lower-cost processing and extraction methods. The hydrometallurgical extraction of gold using low-cyanide and leaching processes currently represents ore than 85% of all gold and silver produced today.
Global demands for smaller-scale and environmentally friendly and sustainable practices and technologies are growing exponentially. We started Innovation Mining to address and commercialize these issues.
Through our unique combination of proprietary technologies, solid operational knowledge, and an agile, corporate culture, we unlock the value of precious metals resources and accelerate the gold mining sector's transition to a sustainable environmentally-friendly industry.
Strategically positioned for explosive growth, Innovation Mining provides a scalable solution for a currently untapped global market. With minimum capital expenditure, we generate maximum return on assets by recovering precious metals for projects that would otherwise have remained dormant.
But, in addition to unlocking the value of valuable mineral resources, our processes is eco-friendly, safe, and sustainable. Our proven technology uses a benign chemistry which is recycled and reused. In addition to the ecological benefits, this also reduces environmental liabilities, maintenance costs, environmental bonds, and reclamation fees.
Refractory Gold Deposits
Refractory gold deposits require more sophisticated treatment methods to achieve oxide-ore recovery rates. Pressure oxidation of some sulfide-based gold ores is therefore a pretreatment leaching step to enhance gold recovery. Although pressure oxidation of gold ores and concentrates does not directly recover gold in a strict sense of the above definition, it is an essential step to enable the gold to be recovered.
These deposits correspond to 24 percent of current gold reserves and 22 percent of gold resources worldwide.
Despite offering a higher grade, these ores can only be processed using specific pretreatment methods such as ultrafine grinding, bio-oxidation, roasting, or pressure oxidation (POX). This special treatment is required for two reasons: first, to liberate gold particles encapsulated in sulfide or arsenic minerals; and second, to eliminate carbonaceous material occurring in the ore, which adsorbs dissolved gold.
Following the oxidation process, the resulting slurry musty go through a solid-liquid separation process and then the pH must be increased to 10 to 12 before it is introduced to a intensive cyanidation process to dissolve the gold in the slurry. The resulting cyanide-based gold-pregnant slurry must be filtered again prior to discharge. Both the solid-liquids separation phase and the pH adjustment phase is complex, lengthy and costly.
Innovation Mining’s solution could eliminate multiple steps in this process due to its ability to operate under pressure, at hot temperatures, and in the necessary low pH environment.
Complex Copper/Gold Ores
Gold is often found alongside copper and silver in ores and concentrates. However, applying cyanide to these complex ores can be challenging due to the diverse minerals they contain. These minerals can interfere with the cyanidation process, affecting gold recovery during leaching and refining. Copper minerals, in particular, react rapidly with cyanide, forming multiple complexes that hinder stable gold complex formation and consume cyanide.
To address these issues, new processes have emerged. One such process is the SART (Sulfidization, Acidification, Recycling, and Thickening) process. Developed by SGS Lakefield Group and Teck Corporation in the 1990s, SART aims to extract copper and gold using complex leach treatments. Although it provides satisfactory recoveries, it is expensive both in terms of capital expenditure (CAPEX) and operational expenditure (OPEX).
The SART process mitigates copper-cyanide complex-related challenges during cyanide leaching. It recycles cyanide, reduces consumption, and avoids hazardous free cyanide disposal. Additionally, it economically utilizes copper content by forming saleable Cu2S. Despite its complexity, successful leach tests on a low-grade copper/gold deposit in Nevada have yielded positive results.
In these tests, the Innovation formula outperformed cyanide. It simultaneously dissolved copper and gold, forming stable complexes. Although occasional pH adjustments were necessary, no additional chemicals were added during the 30-day test.
Mine Tailings
As the world continues to become more environmentally conscious, the gold mining industry strives to balance profits with environmental and social responsibilities. With fewer discoveries, lower grades, higher costs, the sector is turning to innovation to unlock the value of untapped gold resources including mine tailings.
The benefits of commercializing existing mine tailings include lower CAPEX, less permitting, less equipment and infrastructure, less remediation. Innovation Mining’s technology unlocks the value of these stranded assets and monetizes previous exploration programs.
The tailings hold residual value that may be unlocked using Innovation Mining's innovative new technologies thus providing mining operations with no new extraction-related wastes. This delivers a true "Metals without Mining" opportunity.
Studies have estimated that the value of precious metals at old mine sites exceeds USD $1 trillion. In the US alone there are over 32,000 closed gold mining sites with on-surface tailings. The production of metal from these sites provides a huge financial opportunity that is aligned with the increasing investment in sustainable and responsible businesses.
The Company’s unique polymer-based agglomeration process, and nontoxic leach solution has demonstrated positive recovery results on several mine tailings projects.
