• Public and Worker Safety: Cyanide poses health risks to mine workers and nearby communities. A safer alternative would improve occupational health and safety and public perception of the mining industry.

• Sustainability and ESG Goals: The mining industry is increasingly under pressure to operate sustainably. A non-toxic alternative aligns with global sustainability initiatives and corporate social responsibility goals.

• Market Access: Some consumers and industries demand gold that is extracted in an environmentally responsible manner. An effective alternative to cyanide could open new markets and increase consumer trust.

​​

In summary, the development of a non-toxic alternative to cyanide is crucial for the future of sustainable gold mining, addressing environmental, health, and market demands.

 

Q: What are the issues facing developing a nontoxic alternative to cyanide for gold mining?
A: Developing a non-toxic alternative to cyanide for gold mining presents several issues:

​

• Effectiveness: Cyanide has been the leach reagent of choice for over a century due to its high gold recoveries and robustness. Finding an alternative that matches its effectiveness is challenging.

• Economics: In general other alternatives overall chemical cost is more expensive and/or may be difficult to source, making them less economically viable for mining companies. The ability for Innovation to offer a cost-effective alternative includes the basic cost per tonne of ore, sustained reusability quotient, the costs of permitting delays, and future remediation/containment costs.

• Technical Feasibility: The technical challenges of creating a non-toxic reagent that can efficiently extract gold from various ore types are significant.

• Operational Integration: Introducing a new extraction method requires changes in mining operations, which can be resistant to adopting new technologies due to the associated costs and risks.

• Environmental Impact: While the goal is to reduce toxicity, any new method must be thoroughly evaluated to ensure it does not introduce other environmental issues.

• Regulatory Approval: Gaining regulatory approval for new chemicals can be a lengthy and complex process, requiring extensive testing to meet environmental standards.

​

Q: What makes cyanide so dangerous in mining?

A: Cyanide is highly dangerous in mining due to its extreme toxicity and potential for environmental harm. Here are some key reasons:

​

• Toxicity: Cyanide is a rapidly acting, potentially deadly chemical. It can cause severe health issues or death if ingested, inhaled, or absorbed through the skin.

• Environmental Impact: Cyanide spills can lead to significant environmental damage. For example, they can contaminate water supplies, kill aquatic life, and harm agricultural lands.

• Accidents and Spills: Mining operations using cyanide have experienced catastrophic failures, such as dam ruptures and transportation accidents, leading to large-scale contamination.

• Persistence: Cyanide can persist in the environment, especially in water bodies, posing long-term risks to ecosystems and human health.

 

Despite these dangers, cyanide is still used in mining because it is highly effective at extracting gold from ore. However, strict regulations and safety measures are essential to mitigate its risks.

​

Q: What are the clean-tech advantages of the Innovation formula?
A: Innovation Mining has developed a nontoxic, water-based chemical solution that is a blend of stabilizers, complexing agents, and oxidizing and reducing agents and compounds. Designed to function at low pH and room temperature, it presents a straightforward and efficient cyanide substitute. This harmless, non-toxic solution can also be recycled, regenerated, and reused. 

 

he Innovation process differentiates itself from other hydrometallurgical methods with its eco-friendliness, ease of use, and cost savings. It generates a powerful oxidizing mixture that quickly dissolves gold, which can then be extracted using standard techniques such as carbon adsorption, ion exchange resins, or electrowinning. Following the extraction, the depleted solution is refreshed through an innovative diamond-based electrochemical cell technology.

 

The process is designed to be sustainable, forming a closed-loop system that promotes the prolonged reuse of the chemical reagent and rinse water, thereby negating the need for effluent treatment and tailings compounds. The Innovation formula is versatile, suitable for various operational configurations, including heap/vat leach circuits for low-grade, coarsely crushed ores, and agitated tank leaching for finely pulverized, high-grade ores and concentrates. This unique composition is sustainable, recyclable, environmentally benign, and provides a cost-effective alternative to traditional cyanidation methods. The formula is characterized by:

 

• Harmlessness and ease of handling

• Streamlined permitting procedures

• Efficient extraction from complex gold/copper oxides

• High potential for Reusability

• Suitability for low pH environments

• Applicability to pressure-oxidation processes

• Usability in regions where cyanide use is banned

​

Q: How does the Innovation Process compare to traditional cyanide methods?
A: The Innovation Mining formula offers several advantages over traditional cyanide methods in gold extraction. These include;

​

• Safety: The formula is non-toxic and safe to handle, reducing the risk of environmental contamination and health hazards associated with cyanide.

• Environmental Impact: It is eco-friendly, eliminating the need for effluent treatment and tailings compounds, which are significant concerns with cyanide processes.

• Performance: The Innovation solution compares well to that of conventional cyanidation. Both the leach kinetics, and recoveries into solution are almost identical in most cases.

• Wide Applicability Spectrum: The Innovation formula outperforms cyanide in several applications. These include sulfide ores, and complex copper-oxide ores.

• Simplicity: The set up and operation are quite simple and require no special conditions, precautions, or complex equipment.

• Regulatory Compliance: With a reduced permitting process, the Innovation formula can expedite operational start-up, as cyanide use often faces strict regulations due to its toxicity.

• Versatility: It is effective in recovering gold from complex gold/copper oxides and can be used in low pH and pressure-oxidation applications, where cyanide might be less effective.

• Reusability: The formula has a high reusability quotient, allowing for extended use of the reagent and rinse water, which is not typically possible with cyanide solutions.

• Cost-Effectiveness: Due to its simplicity and stability, the process can lead to cost savings in the long run, as it requires less maintenance and fewer chemical inputs.

• Geographical Flexibility: It can be used in areas where cyanide is prohibited, opening up and unlocking the value of opportunities for gold extraction in regions that are off-limits to cyanide-based processes.

 

In summary, the Innovation Mining formula provides a more sustainable, safer, and potentially more cost-effective alternative to traditional cyanide methods, with the added benefit of being adaptable to various mining setups and regulatory environments.

​

Q: How does to the dissolution of gold happen in an oxidized solution?
A: The dissolution of gold in an oxidized solution involves a few key steps and conditions:

​

• Oxidizing Agent: An oxidizing agent is necessary to convert gold (Au) into its ionic form. Common oxidizing agents include oxygen, iodate, cupric ions, ferric ions (Fe³⁺), and chlorine.

• Complexing Agent: Once oxidized, gold ions need to form a stable complex to remain in solution. Cyanide (CN⁻) is the most commonly used complexing agent in gold mining, but alternatives like thiosulfate, bromide (Br⁻) iodine, and chlorine can also be effective.

• Electrochemical Reactions: In an oxidized solution, gold undergoes electrochemical reactions. At low anodic potentials, gold dissolves through a place-exchange mechanism with adsorbed hydroxyl or oxygen ions. At higher potentials, the oxygen evolution reaction on the gold oxide surface leads to further gold dissolution.

• Environmental Conditions: Factors such as pH, temperature, and the presence of other ions can influence the rate and efficiency of gold dissolution. For instance, acidic conditions often enhance the dissolution process.

​

Q: What are the elements  and/or chemicals being used in your formula/solution?

A: We will not disclose the individual chemicals and/or specific elements involved at this time.

​

However, we can tell you that the ingredients we use are a novel and unique combination of halide and/or non-halide based complexing agents, oxidizers, oxidizing compounds, pH controllers, and stabilizers mixed with ambient pressure and temperature water. These ingredients when mixed with water and maintained at the nominal pH and ORP window, will produce an aqueous solution/solvent that can effectively oxidize/solubize metals from ores, concentrates, and tailings, into a stable gold complex with the roughly same performance as conventional Cyanide (NaCN). None of the unique chemicals and/or chemical combinations used in the Innovation formula are known to be used in any of the current cyanide alternatives being developed or under research.

​

Q: What is the prescribed recovery process and/or methods used to remove the gold from solution?
A: Gold can be recovered from solution through several methods, each with its own advantages and applications. Here are some common techniques:

​

• Carbon Adsorption: This method involves passing the gold-bearing solution through activated carbon, which adsorbs the gold. The gold-loaded carbon is then treated to recover the gold.

• Electrowinning: In this process, an electric current is passed through the gold-bearing solution, causing gold to deposit onto a cathode. This method is often used in conjunction with carbon adsorption.

• Merrill-Crowe Process: This involves adding zinc dust to the gold-bearing solution, which precipitates the gold. The gold-zinc precipitate is then filtered and refined.

• Ion Exchange and Solvent Extraction: These are more advanced methods where gold ions are exchanged with other ions or extracted using organic solvents. These methods are particularly useful for solutions with low gold concentrations.

• Direct Electrowinning: This is a more direct approach where gold is recovered from the solution without the need for intermediate steps like carbon adsorption.

 

Each method has its own set of requirements and is chosen based on factors like the concentration of gold in the solution, the presence of other metals, and economic considerations.

​

Q: Please describe in detail the potential reliability of your solution at industrial scale?
A: While the formulas development stage is relatively early, the efficacy, reliability, and stability of the mixed aqueous solution already compares well to the stability and reliability of conventional cyanide solutions. The stability and resulting reliability of the solution is based on maintaining the operational pH and Oxygen Reduction Potential (ORP) levels within the prescribed tolerances. The pH levels are typically controlled with the addition of pH modifiers which are acid (low) or base (high). The amounts of modifiers required are dependent on the underlying materials being treated. The Oxygen Reduction Potential (ORP) level of the solution indicates the oxidizing state of the
solution. This ORP level can fluctuate based on several factors, including the nature minerals being processed, atmospheric conditions, and the number of times the solution has been reused. To maintain the pH and ORP levels, we use conventional automated chemical and
electrochemical industrial control systems to such as dosing pumps and electrochemical cells. One of the positive features of the formula is the ability to control these levels in a natural unoxidized state. This ensures that in the event of power loss, floods, or poor maintenance, the solution reverts to a stable version of itself and can be regenerated and/or oxidized, when necessary, by either chemical or electrochemical means.

​

Q: Are water-based chemical formulas, like the Innovation Process, scalable from lab-scale to full-scale?

A: Yes, water-based chemistry is typically scalable and offers several advantages, especially in industrial and pharmaceutical applications. Here are some key factors:

​​

• Environmental Benefits: Water is a green solvent, reducing the need for harmful organic solvents and minimizing environmental impact.

• Safety: Using water reduces the risk of flammability and toxicity associated with many organic solvents.

• Cost-Effectiveness: Water is abundant and inexpensive, making it a cost-effective option for large-scale processes.

• Versatility: Water can dissolve a wide range of substances, making it suitable for various chemical reactions.

• Efficiency: Advances in water-based chemistry have led to efficient catalytic processes and reaction conditions that are scalable.

 

However, the scalability depends on several factors:

​

• Process Design: Ensuring that the lab-scale process accurately represents the larger-scale process is crucial. This involves selecting appropriate equipment and maintaining similar reaction conditions.

• Pilot-Scale & Bulk-Scale Testing: Typically, processes are scaled up in stages, moving from lab-scale to pilot-scale before reaching full-scale. Pilot/Bulk-scale testing helps identify potential issues and refine the process.

• Governing Mechanisms: Understanding the governing mechanisms of the chemical reactions, such as mixing and mass transfer, is essential for successful scale-up.

• Equipment and Materials: The choice of equipment and materials must be suitable for handling larger volumes while maintaining the integrity of the chemical reactions.

​​

By carefully addressing these factors, the water-based Innovation chemical process can be effectively scaled up from lab-scale to full scale, enabling their application in industrial settings.

​

Q: What are some challenges in implementing this process?
A: Implementing the Innovation Mining formula as an alternative to traditional cyanide methods can present several challenges. These may include:

​

• Technical Adaptation: Transitioning to a new chemical process may require modest adjustments in existing mining infrastructure. This might involve the modification of reagent monitoring and control systems, recovery systems, and training of personnel to handle the new reagent.

• Mitigation of Risk: The introduction of any new disruptive technology or process could pose an element of risk to the C suite of the company and potentially, the financial backers of the subject project.

• Regulatory Approval: Even though the formula is non-toxic, obtaining regulatory approval for a new chemical process can be time consuming and complex, requiring documentation and proof of environmental safety.

• Market Acceptance: Convincing stakeholders, including investors and partners, of the benefits and reliability of the new process over the well-established cyanide method may be challenging.

• Performance Consistency: Ensuring that the formula performs consistently across different ore types and mining conditions is crucial. Variations in ore composition and environmental factors could affect the efficacy of the process.

• Scalability: The process must be proven to be scalable to be economically viable for largescale operations. Proving that the formula can work effectively on a large scale may require pilot projects and continued large-scale testing.

• Environmental Monitoring: Continuous monitoring is necessary to ensure that the process remains non-toxic and environmentally friendly throughout its lifecycle.

 

Addressing these challenges requires careful planning, collaboration with regulatory bodies, and a commitment to ongoing research and development to refine the process and demonstrate its advantages over traditional methods.

Q: How do you plan to overcome these challenges?

A: Innovation plans to overcome the challenges of implementing the Innovation Mining formula through the following strategies:

​​

• Comprehensive Research and Development: Investing in R&D can help refine the process, improve efficiency, and adapt the formula for different ore types and mining conditions.

• Pilot Projects: Conducting small-scale pilot projects can demonstrate the formula’s effectiveness and scalability, providing proof of concept and building confidence among stakeholders.

• Training Programs: Developing comprehensive training programs for personnel can ensure proper handling and optimization of the new process.

• Collaboration with Regulators: Working closely with regulatory bodies can facilitate a smoother approval process and ensure compliance with environmental standards.

• Stakeholder Engagement: Engaging with investors, partners, and the local community early on can help gain support and address any concerns related to the new process.

• Economic Analysis: Performing a thorough economic analysis can help understand the long-term benefits and cost savings, offsetting the initial investment required for the transition.

• Technological Partnerships: Forming partnerships with technology providers can lead to advancements in the necessary equipment, such as the electrochemical cells, and can also provide financial and technical support.

• Environmental Monitoring Systems: Implementing robust environmental monitoring systems can track the impact of the new process and ensure ongoing environmental compliance.

 

By addressing these areas, we believe we can effectively help manage the transition to the Innovation Mining formula and capitalize on its benefits while mitigating potential risks.

Q: What are some challenges in extractive metallurgy as it applies to the Innovation Process?

A: Research in the field of gold extraction and hydrometallurgy offers several challenges, including:

​

• Complex Ore Grades: As high-grade ore deposits become scarce, researchers must develop methods to process complex and low-grade ores.

• Environmental Concerns: There is a constant need to create processes that minimize environmental impact, particularly in water usage, waste management, and reducing toxic chemical use.

• Economic Viability: Innovations must prove to be cost-effective for widespread adoption, balancing research and development costs with potential market returns.

• Regulatory Hurdles: New processes must comply with increasingly stringent regulations, requiring extensive testing and validation to gain approval.

• Technological Integration: Integrating new discoveries with existing mining infrastructure poses logistical and technical challenges.

• Public Perception: Overcoming public skepticism about new technologies, especially those replacing well-known methods like cyanidation, could be difficult.

 

Addressing these challenges requires a multidisciplinary approach, combining expertise in chemistry, engineering, environmental science, and economics to develop sustainable and profitable extraction methods.

Q: What potential role does government policy play in the adoption of the Innovation formula?

A: Government policy plays a crucial role in promoting sustainable mining practices such as the Innovation Process through various means, including:​

 

• Regulation: Governments can enact laws and regulations that mandate environmentally responsible mining practices, such as the use of non-toxic chemicals, proper waste disposal, and rehabilitation of mined areas.

• Incentives: Policies can offer financial incentives, such as tax breaks or grants, for mining companies that invest in sustainable technologies and processes.

• Research Funding: Public funding can be allocated to research and development projects focused on sustainable mining technologies, helping to advance innovations like the nontoxic extraction methods.

• Education and Training: Governments can support educational programs to train miners and engineers in sustainable practices and the use of new technologies.

• International Standards: Policymakers can promote adherence to international environmental and social standards, encouraging best practices across the industry.

• Monitoring and Enforcement: Effective policy implementation requires monitoring mining activities and enforcing regulations to ensure compliance.

 

By leveraging these tools, governments can significantly influence the mining industry’s adoption of the Innovation technology and move the sector towards more sustainable and environmentally friendly practices.​​

​

Q: What are the ripple effects of using your solution relative to using cyanide?
A: The benefits and effects to using our nontoxic solution vs cyanide are numerous and include environmental, operational, financial and social considerations. These include streamlined permitting processes, shipping and handling, safety, community, social and other ESG
considerations. Fundamentally, using ESG to assess corporate performance is founded on the recognition that businesses have a social responsibility to influence positive social change, and that environmental, social, and corporate governance are a fundamental part of a business’s bottom line. The increasing consideration of ESG criteria in assessing corporate performance and allocating investment capital is a transformational trend that looks set to continue through increased awareness about ESG and a general trend among investors to seek socially and environmentally responsible investments.

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 and the only current cost-effective process for low-grade ores is the cyanidation process. Despite being used in 90% of gold production, gold cyanidation is controversial due to the toxic nature of cyanide. Although aqueous solutions of cyanide degrade rapidly in sunlight, the less-toxic products, such as cyanates and thiocyanates, may persist for some years. Global demands for eco-friendly, low-cost, sustainable practices and technologies are growing exponentially. 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.

 

Q: Are any pieces of your solution / process / technology already patented by other potential competitors?
A: No. there are no patents or research studies that describe or include our novel chemical formula or subsequent reactions. To clarify, ours is a chemical formula that does not rely on any additional hardware technology to operate efficiently. We have chosen to use select
equipment to compliment this formula to simply provide a non-chemical based oxidation when required, and the recovery of metal from the solution using conventional carbon columns and electrowinning cells.

Q: Can you describe your Intellectual property protection plan?
A: All the necessary, and or potential, elements, chemicals, chemical compounds, and methods have been included in two filed and pending patents. We have not found any similar patents or research papers that mention or include our novel formula. The company has engaged experienced counsel to compile a comprehensive intellectual property plan and has prepared and submitted the patents. However, the Company may choose to rescind the patents prior to publication if it is determined that alternative IP protection is better suited, such as trade secrets, and/or copyright.

 

Q: What are the potential applications opportunities for Innovation technology?
A: There are numerous direct and indirect opportunities in the mining and non mining sectors. These include:

​

• Existing Mine Tailings: Aside from whole ore heap and vat leaching, the Company has been developing methods for the pretreatment of existing mine tailings to improve percolation and permeability of the tails to allow for the efficient treatment using low-cost vat and heap leaching. A non-cyanide treatment of these tailings would be much easier to permit and could potentially assist in the remediation of over 35,000 closed mines with on surface tailings in the US alone.

• Agitated tank leaching of concentrates: There are numerous applications for an effective cyanide alternative in the treatment of high-grade ores and concentrates. Many mines cannot secure a cyanide permit and can only produce high-grade concentrates that must be shipped offshore to smelters or alternate treatment facilities. Innovations product may provide an effective alternative to this costly process which reduces operational costs while allowing mines to maintain complete control of their operations.

• 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 and oxidative leaching of gold ores and concentrations does not directly recover gold, 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, pressure oxidation (POx), and Glencore's Albion Atmospheric Oxidation Process. These special treatments are 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 goes 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.

• In-field Mineral Assay Labs: The ability to determine mineral metal assay grades in the field to support exploration initiatives would be of tremendous benefit to the gold mining industry. Delays in assay reporting are costly. In-field assay labs can significantly enhance the efficiency and effectiveness of gold mining exploration. Here are some key benefits:

  • Real-Time Data: In-field assay labs provide immediate results, allowing geologists and mining engineers to make quick decisions on-site. This can lead to more efficient exploration and drilling processes.

  • Cost-Effective: By reducing the need to send samples to distant laboratories, in-field assays can lower transportation and processing costs.

  • Improved Accuracy: Modern portable devices, such as X-ray fluorescence (XRF) analyzers, offer high accuracy and can detect a wide range of elements, including gold.

  • Flexibility: These labs can be set up in remote locations, making it easier to conduct assays in challenging environments.

  • Environmental Impact: On-site testing reduces the environmental footprint associated with sample transportation and processing.

• Complex Copper/Gold Deposits: 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. Recently 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.

 

Q:What makes the Innovation Mining hydrometallurgical formulas different from others?

A: The only current economically viable hydrometallurgical formula in use today is sodium cyanide. Cyanide is very effective, low-cost and simple to use, but it is toxic and difficult to permit. There are only a few other chemical formulas that can dissolve gold, but these have been found to be too costly, complex, unstable, or simply unsafe to use. The Innovation formula offers the only cost effective and non-toxic alternative to cyanide. It offers similar leach kinetics and recoveries, is stable, low cost and simple to use.​

 

Q: How does Innovation Mining plan to take advantage of Artificial Intelligence (AI) in its operations?

A: AI can significantly enhance various aspects of our gold mining operations. Here are some key applications:

​

• Exploration and Targeting: AI algorithms can analyze vast datasets, including geological, geophysical, and geochemical information, to pinpoint potential gold-bearing areas with remarkable precision. This not only expedites the exploration phase but also minimizes environmental impact by directing activities to the most promising locations.

• Predictive Maintenance: AI can predict equipment failures before they occur by analyzing data from sensors on mining equipment. This helps in scheduling maintenance proactively, reducing downtime, and extending the lifespan of machinery.

• Process Optimization: AI can optimize various mining processes, such as ore crushing and grinding, by analyzing real-time data and making adjustments to improve efficiency and reduce energy consumption.

• Environmental Monitoring: AI can monitor environmental data to ensure compliance with regulations and minimize the environmental footprint of mining operations. It can also help in identifying areas where operations can be optimized to reduce impact.

• Safety Enhancements: AI-powered systems can enhance worker safety by monitoring conditions in real-time and predicting hazardous situations. This includes monitoring air quality, structural integrity of mines, and other safety parameters.

• Supply Chain Management: AI can optimize supply chain operations by predicting demand, managing inventory levels, and identifying potential disruptions. This ensures a more efficient and resilient supply chain.

• Energy Management: AI can analyze energy usage patterns and identify opportunities for energy savings, helping to reduce operational costs and environmental impact.

• Quality Control: AI can improve quality control by analyzing samples and production data to ensure that the final product meets the required standards. This reduces waste and improves overall efficiency.

• Marketing and Social Media: The company is using AI to assist with business opportunities,  shareholder exposure, and acquisition strategies to enhance improve the market awareness and build shareholder interest.

 

By integrating AI into their operations, gold mining companies can achieve greater efficiency, reduce costs, enhance safety, and minimize their environmental impact.

​

Q: Is the Innovation Mining process environmentally friendly?
A: Yes. The process uses safe, water-based hydrometallurgical processes that operate with little or no environmental footprint. The solution and process water are both recycled and reused and results in a small environmental footprint, no effluent, with no tailings ponds, or off-gassing. It produces an almost pure gold product that does not require high C02 smelting which concentrates require. 

​

Q: What is the anticipated gold production from the Royal Vindicator Mine?

A: The Company has not completed an independent scoping or feasibility study on the project and as such, is not ready to provide any type of production guidance.  Management is planning on ramping up production to a rate of approximately 400 tonnes per day to start. The historic resource and the 2023 bulk testing indicates an estimated head grade of approximately 2.0 grams per tonne (gpt). This grade may not be indicative of future grades and should not be relied upon.

​

Q: How does this process unlock the value of small scale gold deposits?

A: Conventional modern gold mining require massive investment in infrastructure, resource development, mine planning, permitting, metallurgical studies, engineering, equipment, plant construction, and site remediation. This investment requires sufficient resources to justify this investment. Todays gold mines also require a minimal contained gold value necessary to operate the mine at a profit. The all-in-sustaining costs (AISC) comprise three different types of costs: first the cash costs, which include the pure extraction and processing costs. Second, there are the all-in cash costs, which denote not only the costs of exploration but also those of obtaining the production rights, financing, administration and taxes, as well as royalties. The third cost component comprises all types of expenses incurred in connection with the maintenance and development of a mine. While the AISC for the production of an ounce of gold were around 300 US$ per ounce in 2000, the costs have since seen an almost continuous rise. In 2012, they were already around 900 US$ per ounce and in the first quarter of 2022, they reached their highest level to date: 1,232 US$ per ounce. The novel combination of little or no resource development, low-cost mining methods, innovative extraction technologies, and eco-friendly nature of the process allows Innovation Mining to develop the projects with a significantly reduced CAPEX and superior low-cost mine economics.

 

Q: Why are some of these small-scale gold resources available?

A: Most of the gold deposits targeted by Innovation Mining have been the subject of extensive exploration programs but have fallen short of the grade and size necessary to justify the significant CAPEX necessary for a conventional gold mine. Some of them are historic gold producers that shut down due to low gold prices and never reopened due to insufficient resources even at todays prices. (the historic gold price was under $35  per ounce until 1970). Some of the dormant deposits are termed as "stranded" due to a number factors including environmental, financial, access, infrastructure, etc.

​​

Q: Why can Innovation Mining economically advance these deposits to production when others cannot?

A: Innovation Mining employs a unique combination of low-cost mining methods and innovative, low-cost extraction methods based on a safe, non-cyanide-based, hydrometallurgical process. This proprietary combination allows us to monetize these deposits with significantly reduced infrastructure, CAPEX, and OPEX costs. The eco-friendly nature of the process also typically streamlines and accelerates the permitting process.

​

Q: What is heap leaching?

A: Heap leaching is one of several alternative process methods for the extraction of precious-metals from ores and is selected primarily to take advantage of its low capital cost relative to other methods. Heap leaching involves stacking of metal-bearing ore into a heap on an impermeable pad, or in a vat, irrigating the ore for an extended period of time with a chemical solution to dissolve the sought-after metals, and collecting the lixiviant as it percolates from the base of the heap. Heap leaching is performed in different configurations, each with certain advantages and disadvantages. Gold and silver are leached with a dilute alkaline solution of sodium cyanide. The recovery is dependent on the type of ore being processed. It is important to base the design of a heap leach on the results of a comprehensive program of laboratory testing. A heap leach can be operated in all climate types with proper design and water balance considerations. The mining, ore preparation. and stacking methods should vary. Where run-of-mine ore is to be leached it may be blasted heavily; fine crushed ore that is high in clays may be mined with minimal stockpiles. The environmental requirements for reclamation and closure vary widely and should be considered during the design phase of the heap. In operations, there are some common problems that can often be prevented. Operating costs are less sensitive to the size of the operation than capital costs.

​

Q: How long is the leach cycle of the Innovation Mining process?

A: The leach cycle period is based on a number of variables including, material minerology and composition, crush size, porosity, permeability, grade, gold particle size, and leach kinetics. The leach cycle is determined in the lab and pilot-scale studies but will likely vary between 5 days  and 30 days.

​

Q: What is a "Stranded" gold deposit?

A:  This describes a defined gold deposit that has a delineated estimated resource that has been deemed uneconomic to put into production for one of a number of reasons. These include size and financial limitations, project access and infrastructure, water shortage, environmental reasons, metallurgical challenges, cyanide prohibition, etc. The opportunity to unlock the value of these deposits or stranded assets lies at the heart of the Innovation Mining business model. Building the road to Stranded Mining Assets

​

Q: What is the definition of deposit?

A: Mineral deposits are naturally occurring accumulations or concentrations of metals or minerals of sufficient size and concentration that might, under favorable circumstances, have economic value. Economic concentrations of metals or other mineral commodities are known as ore. Gold Deposits

 

Q: What is the estimated production rate of the Innovation Mining process?

A: The production rate of gold is determined by a number of factors including, gold head grade, leach kinetics, crush size, deposit size, location, access, deposit nature, strip-ratio, etc. A typical vat leach (on/off) operation would consist of 2 or 3 of the 2,500 tonne vats sharing the same infrastructure and systems with an estimated leach cycle of 7 to 30-days. Conventional heap leaching may take several weeks, or months, for metal recovery. The leaching time may increase if the heap material is compact, such that the leach solution percolates very slowly via the heap. Low permeability of the heap results in the formation of channels, where fine particles often tend to agglomerate.

​

Q: Does the Innovation Mining process help reduce Greenhouse Gas Emissions such as carbon dioxide?

A: Yes, while any process is going to generate some carbon emissions from mineral excavation and hauling, the Innovation Mining small-scale process provides a cost-effective alternative to the massive-scale bulk mining of low-grade ores and the high carbon producing practice of smelting high-grade ores and concentrates.. The use of smelters by the mining industry accounts for over 40% of the sectors entire carbon footprint.

​

Q: What is the estimated recovery of gold from the host material?

A:  Management is estimating a conservative 75% to 90% recovery of gold over the standard leach cycle. This is based on past data from whole ore (unground) material tests in the selected lixiviant/formula. This is similar to that of conventional heap leaching and will vary significantly from project to project. The  company is currently experimenting with different crush and grind size, as well as extended leach periods to increase these recoveries. A significant part of the qualification process for a project is based on the efficiency of the leaching process on the target materials. The recovery rate may be lower than other extraction processes but still typically offer overall superior economics due to the low-cost nature of the Innovation Mining process.

Q: How many small-scale gold deposits exist?
A: We estimate that there are thousands of small-scale gold deposits that meet our minimum criteria globally. The company is actively forging relationships with mining companies and partners worldwide. According to the EPA and USGS, there are over 32,000 closed mines in the USA alone.

​

Q: Does Innovation Mining provide good leverage to the price of gold?

A: Typically, the near-term, low cost-nature of the deposits under contract, represent a significant discounted value to the current price of gold. The lower AIS costs also reduce exposure to adverse gold prices. Generally, in gold mining companies, the more gold resources the company holds, the higher the leverage to gold prices are provided per share. (for example, if a company has a resource of 1 million ounces of gold, in a reserve category, and they have 10 million shares issued and outstanding, then a resulting metric might be that the company offers a 0.1 oz/share gold leverage quotient. It is the mandate of Innovation Mining's management to build gold resources on a cost-effective and non dilutive basis.

​​

Q: How does Innovation Mining provide a low risk quotient to gold mining compared to other miners?

A: Innovation Mining does not have exposure to high-risk exploration or resource development. It takes advantage of results from historic and costly exploration and resource development programs. In most cases, extensive geological, technical and metallurgical studies and reports have been completed, which provides resource data at little or no cost to Innovation Mining. Before Innovation Mining invests time or money on a prospective project, it will perform comprehensive research and lab scale amenability tests and would require positive results to justify moving to the next stage of qualification. Additionally, significantly lower CAPEX, and low cash costs per ounce mitigates the negative impacts of adverse commodity prices.

Q: What type of low-cost mining does Innovation Mining use?
A: Innovation Mining will typically employ low-cost, near-surface bulk mining methods which include open cut methods. Some of the target projects have stockpiled economic material on surface or in large tailings piles which may require no excavation or crushing.

Q: What does it cost to mine and recover the gold?
A: The cost to set up the Innovation Mining operation depends on location, grade, geology, deposit size, minerology, and leach kinetics.  These determine the optimal mining rate and plant design. The CAPEX amounts can be less than $5M, and the all-in sustaining costs as low as $800 per ounce depending on ore complexity and head grade. 

Q: How does Innovation Mining extract the gold from the rock?
A: Innovation Mining will utilize conventional hydrometallurgical process to dissolve the gold into solution from whole unground ore. The water based reagent consists of an aqueous solution as cyanide or our proprietary NsOL solution, that provides an oxidative  ionic/chemical reaction with the contained gold to “solubilize” or dissolve it into solution. The gold is recovered from solution using conventional extraction process such as ION exchange resins, carbon,  and/or electrowinning. This produces a metallic residue which is shipped to a refiner for the final production of gold bars.

Q: Does the Innovation Mining process work on all rocks/materials (e.g., sulfides, oxides, refractory)?
A: No, it does not work on everything. Nothing does. Some the host minerals are not amenable to leaching and may require fine grinding or even pressurized oxidation in some cases to expose the gold for hydrometallurgical extraction. This amenability would be determined at the early test stages. The process has been proven at scale to work on both oxide and sulfide based ores/materials. It has also been proven to work economically in the presence of some of the deleterious minerals that cyanide cannot.

Q: Does the Innovation Mining process require a tailings dam (compound)?
A: No, the Innovation Mining process uses large vats to soak the rock and pumps the formula through the bed and overflows and the "pregnant" gold rich solution is pumped into tanks, filters, and ion exchange columns where the gold is extracted and then the solution is reused. Following the leach cycle (10 to 90 days), the bed is drained and rinsed with fresh water to clean the residue and recover any residual chemistry. This rinse water is also treated and recycled. Consequently, there is no effluent, and as such, no need for a tailings compound.

Q: How fine does the mineralized material need to be crushed?
A: The preferred target size is typically between ¼ inch and 2 inches in size. This will vary depending on mineralogy and availability of the free gold to encounter the formula/solution to be dissolved into aqueous solution. Typically the finer the grind, the faster the recovery but the higher the costs.

Q: Does the Innovation Mining process tails produce Acid (ARD)?
A: The preferred target projects are typically oxide-based gold deposits. Acid rock drainage is the result of fluids encountering exposed sulfide-based minerals which lower the pH of the resulting fluids. The Innovation Mining solution does extract gold from sulfide materials and the project selection and permitting process would take this into consideration.

Q: What kind of hydrometallurgy does Innovation Mining use to recover the gold?
A: Innovation Mining will use convention cyanide when necessary but has developed an eco-friendly, water-based inorganic and/or electrochemical process as it's hydrometallurgical formula. This unique lixiviant/formula quickly dissolves the gold into solution as a highly stable gold complex. It is then recovered from solution using conventional industry extraction processes such as ION exchange and/or electrowinning. This unique formula solubilizes the gold at a rate equal to or better than conventional cyanide and with similar leach kinetics but is non-toxic.

Q: What other metals can be recovered using the process? 
A: The Innovation Mining process predominantly recovers gold and silver. Other metals that are soluble in the formula include aluminum, lithium, uranium, cobalt, copper, iridium, and others.

Q: What is the operating temperature and pH of the Innovation Mining process?
A: The Innovation Mining chemical process operates at a neutral pH and ambient temperature and pressure. It operates in a broad spectrum of all environmental conditions.

Q: What happens if there is a leak or spill of the Innovation Mining Solution?
A: The chosen ingredients that we use on our process are predominantly comprised of FDA approved chemicals and elements and normally operates at a neutral pH and is safe on vegetation and/or wildlife. The operating environment will have a containment berm or liner to prevent chemical and water loss in the event of a spill.

Q: Does the property need power and water?
A: The Innovation Mining process has a very low power and water consumption and can typically operate with a portable diesel generator. The process solution and rinse water are recycled and reused which leads to almost zero effluent and low water consumption. In some cases, depending on minerology and temperature, the scheduled trucking of water will suffice.

Q: Do the Innovation Mining post process material (tailings) need to be treated or placed on a lined containment pond?
A: The post NsOL processed material (tailings) has been exposed to safe, benign solution and then rinsed with fresh water to remove any residual chemistry. Unlike conventional cyanide-based processes which produce contaminated tailings that must be placed on a double lined containment area and monitored.

Q: Is the process sustainable? And how does impact fish, waterfowl, or other animals?
A: Yes. We strive to be as environmentally friendly as possible and operate in small environmental footprint. The chosen reagents and chemicals we use on our process are comprised of FDA approved ingredients and operate at a neutral pH. The nature of the process involves the recycling and reusing of both the reagents and process water so there is no tailings dam required. The post processed material (tailings) are rinsed with fresh water to remove any residual chemistry and eventually landscaped or placed back in the mine.

Q: Who owns the property that the deposit is on?
A: The properties we would advance to production will have a variety of business relationships including straight ownership by property acquisition, leases, options, partnerships, joint ventures, and royalty-based agreements.

Q: What is the cut off grade The Innovation Mining process could economically recover?
A: The economics are determined by a several factors including mining costs, extraction costs, recoveries, royalties payable, and the price of gold. Our preferred minimum for standard extraction is 1.0 gram of gold per tonne.

Q: What is the minimum size of deposit you require?
A: Typically, we prefer a resource of 250,000 to 750,000 tonnes, or larger, with a gold grade of more than 1.0 grams per tonne . It also depends on the project stage of development, deposit characteristics, geological nature, amenability to leach, gold grade, mine strip ratio, permitting, etc.

​

Q: Does Innovation Mining exclusively use dynamic vat leaching (DVL) in its processes?

A: No. We will use the most economic and efficient process necessary based on the nature of the deposit and the host geology and mineralogy. In most cases, simple heap leaching pads will be used. In some cases gravity separation and/or flotation concentration may be the most suitable and cost-effective method. Others may benefit from a combination of processes.

Q: What sort of qualification process is done on a prospective project?
A: Before there is a production decision, there several tests and/or steps in the process to pre-qualify. These include:

 

1. Business Development and Opportunity Identification: Innovation Mining reviews historic and modern mineral resource data from geological reports, resource estimates, mine production data and leverages the expertise of our professionals to identify possible resource recovery opportunities, using key site characteristics and metrics related to grade, metallurgy, volume, potential leach kinetics and recoveries.

​

2. Preliminary Metallurgical Evaluation: Innovation Mining will typically perform basic metallurgical evaluation of the subject material to determine sample grades and other relevant extractive characteristics such as amenability to concentration and non-cyanide-based leaching.

​

3. Preliminary Study: Pre-qualified opportunities undergo an in-depth initial study, which includes an economic, and environmental review, and a detailed assessment that is used for a management review of the opportunity.  At this time a more advanced metallurgical study is performed which may include gravity recovery (GRG), bottle roll and column tests. An initial regulatory review may be undertaken during the Initial Study is intended to identify regulatory agencies with jurisdiction over the site, and key permits and work notices required for operations along with associated fees and lead times. Initial Non-Disclosure Agreements and engagement with the property owner/operator is done via Letter of Agreement to ensure rights and to acquire site-related data, negotiate the execution of a contract and provide access to the site to conduct advanced analysis. This initial commercial agreement is intended to secure the mining rights to contingent upon Innovation Mining satisfying internal requirements for project economics and viability. 

​

4. Advanced Project Analysis: Contingent upon the results of the Initial Study, Innovation Mining will proceed with the detailed phase of project feasibility and economic review. Activities undertaken during this phase are intended to increase Innovation Mining’s confidence in the project opportunity, select a final optimized process flow for optimized metal recovery, prepare environmental and other submissions, and develop operational plans.

​

5. Implementation and Production: Following the internal and site review and receipt of required operating permits, and contingent upon a final executive review, Innovation Mining will deploy its resource recovery teams on site in conjunction with strategic services partners to start site engineering and construction, mobilization of modular components, surface mining, material preparation and stockpiling followed by resource recovery. Throughout the operational period, Innovation Mining will compile operational data, including metallurgical, recoveries, statistics, metal sales accounting, and provide its partners with transparent and timely reporting.

Q: How do you test the host material to determine the gold content?
A: The project owner/operator will send 20 liters (5 Gallons) of representative samples to the Innovation Mining labs where it will be analyzed to determine the amenability vat leaching and the formula. There are numerous tests performed on the material including assays by fire, atomic absorption, ICP, aqua regia XRF, crush and grind size analysis, bottle roll tests, static tests, column tests, recovery tests, bulk-scale tests, and chemical consumption analysis.

Q: How do you confirm the gold resource is in place?
A: Typically, the only projects that Innovation Mining would consider suitable are projects with existing resources that have been previously delineated by drilling as part of a past comprehensive exploration program. There will usually be a certified detailed resource estimate (NI 43-101) on the property or drill logs that can be viewed and confirmed. In all cases, if the projects advance past lab and data review, a Innovation Mining team member will visit the property to view and take bulk samples the target materials.

​​

Q: How does the Innovation Mining process help small-scale artisanal miners in developing nations?

A: Innovation Mining recognizes the need for the millions of artisanal miners globally who rely on gold mining for their basic sustenance. Innovation Mining is committed to providing cost-effective programs and alternatives to these developing nations. As many of these practices employ the use of toxic substances such as mercury and cyanide to aid in the extraction of the gold, we can help reduce or eliminate this usage entirely.

​

Q: Does it work on post-processed mining materials (tailings?)
A: Yes, the Innovation Mining process will work on most gold mining tailings, providing the gold is “free” in nature and not constrained within the matrix of the host rock (refractory). The grade and stockpile size would still have to be economically feasible.

Q: How many tailings projects exist in the United States?

A: Gold mining tails exist from all past mining of gold, including the Spanish mining in the America’s dating back as far as the 1,500’s. In the US alone, the USGS estimates that there are over 32,000 past producing mining operations.

​

​

Cautionary Statement: The Management and Executive of Innovation Mining strives for transparency and accuracy on all statements, claims, and representations.  Management believes these answers to be accurate. Most of the estimations and data included in these answers are based on variables outside of management's control. Each ore/mineral/deposit is unique in nature and as such, all results will vary.  Innovation Mining cannot guarantee the accuracy of this data or representations and cautions all readers to use their own best judgment and research.