The binding LOI, announced by both companies on March 28, 2017, has been finalized into a definitive joint venture agreement between the parties. Mineworx will be applying its licence to utilize the EnviroLeach Technologies patent-pending, non-cyanide leach formula to process the estimated 250,000 tonnes of gold-bearing tailings and dumps at the project. The company is now proceeding with the next phase of the project toward pilot plant testing.
About Coronet Metals Inc.
Coronet Metals is engaged in the business of acquiring, exploring and developing natural resource properties, with a focus on precious mineral properties/projects which have the potential for both near-term cash flow and significant exploration upside potential. Coronet's White Caps gold project is near the town of Manhattan in northern Nye county. The project is well in line with its strategy of acquiring precious metals mining projects which have the potential for both near-term cash flow and exploration upside.
About Iberian Minerals Ltd.
Iberian Minerals is positioned for growth through partnerships with advanced mining and e-waste opportunities utilizing its licensed cyanide-free precious metals extraction formula and patent-pending portable extraction technologies. These three innovations will increase and enhance business opportunities by deploying cost-effective, environmentally friendly extractive metallurgy solutions. This unique business model will provide shareholders with consistent revenue growth while minimizing capital costs and project risk.