Iberian Minerals Ltd.
TSX VENTURE : IML
OTCQB : SLDRF

Iberian Minerals Ltd.

July 26, 2016 09:00 ET

Iberian Develops New Enviro-Friendly Alternative to Cyanide

EDMONTON, ALBERTA--(Marketwired - July 26, 2016) - Iberian Minerals Ltd. (the "Company" or "Iberian") (TSX VENTURE:IML) (OTCQB:SLDRF) announced today that it, has filed a patent with the United States Patent and Trademark Office (USPTO) for its HM X-leach, a proprietary, environmentally-friendly, non-cyanide based leach formula for the extraction of precious metals from ores, concentrates, tailings and electronic waste (e-Waste). A new 100% owned subsidiary, HMX Solutions Ltd. has been created to pursue commercial opportunities for this product.

For the previous 12 months, our technical team has been developing and testing the unique HM X-leach formula on a number of different ores, concentrates and tailings. Recently, Iberian engaged the services of Met-Solve Laboratories, a well-respected and independent mineral and hydrometallurgical testing laboratory, based in Langley, British Columbia, to oversee the development and testing of the formula.

The sustainability of the gold industry is being challenged by reduced grades, more complex ores and increasingly stringent environmental conditions. Within industry both the use and disposal of cyanide present significant safety and environmental challenges. Mineworx is helping the industry reduce the risks and environmental impact of current processing operations and developing alternative processes that use less-toxic alternatives to cyanide.

The primary challenge in devising a suitable substitute for cyanide in gold processing, lies in developing an equally effective and degradable leach reagent, which is not a persistent environmental toxin. As gold cyanidation rates are relatively slow, the industry has been searching for faster gold leaching reactions capable of facilitating high metal recovery rates. Alternative lixiviants or leaching agents should also be inexpensive and recyclable, selective, non-toxic and compatible with downstream recovery processes.

There is an increasing interest in finding new alternatives or improving previously tried processes. Numerous other chemicals have been tested to leach gold, and they include thiosulfate, thiocyanate, ammonia, bromine, chlorine, bisulfides, and thiourea but no one has come up with a more cost effective and productive method than leaching with cyanide until now.
The following table (Fig 1.0) compares the applicability spectrum, costs, consumptions and sensitivities of the HM X-leach formula and some of the more prominent alternatives to cyanide.

HM X-leach Cyanide Thiourea Thiosulfate Thiocyanate Bisulfide Ammonia Chlorine
Applicability Broad Broad Limited Broad Limited Limited Limited Limited
pH Sensitivity Low High High High Low High High High
Leach Kinetics Fast Medium Fast Fast Medium Slow Fast Fast
Toxicity Low High High Low High High High High
Hazard Classes (WGK) 1 3 2 1 1 2 2 2
Recyclability High Medium Low Medium Medium Medium High Medium
Detox Costs Low High High Medium High High High Medium
Off Gas Controls No Yes Yes Yes No Yes Yes Yes
High Temperature No No No No Yes Yes Yes No
$ Price to Cyanide Higher N/A Higher Higher Higher Lower Higher Similar
Capital Costs Low Low High Medium High Medium High High

Figure 1. Comparative applicability, sensitivity, solubility, consumption and cost analysis.

Gold and other precious metals are readily recovered from the HM X-leach solution through a number of well-known and proven extraction methods including; electrowinning, carbon adsorption and precipitation.
The HM X-leach has been developed to be a non-toxic, economical and effective alternative to cyanide leaching. Independent testing has proven that the HM X-leach non-cyanide based formulas and processes when compared to Cyanide formulas typically show recoveries comparable to or better than cyanide.

Duane Nelson, President of Mineworx, states; "We are very excited with the results of the HM X-leach formula. It has been proven by independent analysis to be non-toxic and faster than typical cyanide solutions on a number of different ores, concentrates and tailings. The HM X-leach is safer to use, offers faster dissolution rates and offers much broader operational parameters. Offering a cost effective alternative to cyanide world-wide with the non-toxic HM X-leach formula will help to reduce the risks and environmental impact of mineral processing and may open up opportunities in areas where the use of cyanide is banned including several European countries, South American countries and some American states. We will continue testing the formula on a broad selection of ores, concentrates and tailings and report the results over the next few months."

Ish Grewal, B.A.Sc., M.A.Sc., P.Eng., President of Met-Solve Laboratories, states; "I have had the opportunity to test, review and analyze numerous lixiviants for gold which are available for the mining industry. Having spent extensive time studying the results of the HM X-leach, we are very impressed with this system. We are delighted to be working with the Iberian/Mineworx team to advance this exciting non-toxic technology."

Ish Grewal has over 20 years in the metallurgical and mineral processing industry, which included 4 years conducting hydrometallurgical research at the University of British Columbia, in areas such as gold-cyanide and base metal leaching systems.

For further information on the Cyanide Industry CLICK HERE:

About Mineworx

Mineworx is an innovative heavy mineral development and processing company focused on increasing value within the mining sector with its patent pending, environmentally friendly, portable, heavy mineral extraction technologies:

  • HM X-tract
  • HM X-mill
  • HM X-leach

Mineworx's unique business model is to seek out advanced stage mineral deposits on which to employ its portable processing technologies and partner with the existing owners/operators by advancing these deposits in an accelerated manner attaining profitable production in a timely, cost effective and environmentally friendly manner. The unique, integrated and portable processes and technologies lower economic risk and reduce environmental impact.

About Iberian Minerals

Iberian Minerals is a Canadian junior mining company positioned for growth through the partnership of advanced cash flow mining opportunities utilizing the Mineworx environmentally friendly toll processing technologies. In addition the Company is undertaking strategic alliances with its Spanish minerals assets.
For further information, go to www.iberianminerals.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

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