BURNABY, B.C. – Mineworx Technologies, a leading provider of proprietary, cost effective, and non-toxic precious metals extraction solutions to the e-waste and mining industries, is pleased to announce that the U.S. Patent and Trademark Office has recently issued a Notice of Allowance for the Mineworx patent application number 14/097,889 pertaining to “A Portable Mining Apparatus and Methods of Use”.
The technology for which the Notice of Allowance has been issued is the Company’s HM X-tract mobile modular mining/extraction process.
“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,” commented CEO Greg Pendura. “The system is capable of high efficiency recoveries from both alluvial and crushed hard rock deposits as well as being able to process old tailings for remaining value. 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.”
The HM X-tract will target:
- Deposits previously not minable due to environmental concerns;
- Smaller deposits where large capital expenditures are not justified;
- Deposits in areas where permitting and lack of water prohibit mining;
- On site cleanup of contaminants and hazardous metals such as lead and depleted uranium on military sites and firing ranges; and
- Cleanup of any other metallic solids soil contamination.
Mineworx will be applying to the TSX Venture Exchange for approval to extend the expiry date of 10,491,667 outstanding common share purchase warrants that were issued as part of a non-brokered private placement completed by the company on January 2014. The warrants are exercisable for common shares of Solid Resources and Iberian Minerals (now Mineworx) at a price of $0.26 per share and were previously extended to the current expiry of Nov. 7, 2018. The company is proposing to extend the expiry date of the warrants to 4:30 p.m., Edmonton, Alta., time on Jan. 7, 2019, at such time they will terminate. All other terms and conditions of the warrants, including the exercise price and the accelerated expiry provision, will remain the same. The proposed extension of the expiry is conditional upon the receipt of exchange approval.
Additional details of the warrants are provided in the company’s press release dated Jan. 7, 2014 filed at www.Mineworx.net.