Sixth Wave Commences Green Alternatives Initiative with CTRI and Updates on IXOS® Testing
Halifax, Nova Scotia – (July 28, 2020) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:ATURF) (FSE:AHUH) (“Sixth Wave” or the “Company”) is pleased to announce the commencement of the “Green Alternatives for Gold Leaching and Recovery” initiative (the “Green Alternatives Collaboration”) being undertaken in partnership with Centre Technologique Des Residus Industriels (CTRI) and a major top 10 gold producer (the “Testing Partner”).
The Green Alternatives Collaboration
The purpose of the Green Alternatives Collaboration is to validate environmentally friendly alternative leaching technologies as well as the use of Sixth Wave’s IXOS® technology for the extraction of gold from both cyanide and alternative lixiviants. Testing is to be undertaken on low grade tailings originating from the mining operations of the Testing Partner.
The start of the project, originally scheduled for March of 2020, had been delayed as a result of COVID-19, but ore has now been shipped on which the first stages of testing using cyanide and alternative lixiviants will commence.
Other IXOS® Testing Results
The Company is pleased to report on further testing of its IXOS® beads on ore sourced from other gold producers who have expressed an interest in the IXOS® product. Since the beginning of 2020, the Company has engaged with over ten new mining customers who are either in production, developing green-field sites, or assessing tailing projects. Many have been able to source sufficient samples of ore from their projects to complete laboratory-based analysis of the effectiveness of the IXOS® product in capturing gold from a cyanide leach solution. Indicative results for an active producing mine in Turkey are as follows:
|Gold (Au) Recovery||87%||65%|
|Silver (Ag) Recovery||90%||19%|
The Company expects to engage with this particular producer for on-site testing once travel restrictions have eased.
“While the COVID pandemic has caused some delays with the start of the Green Alternatives Collaboration we have remained active in demonstrating the effectiveness of our IXOS® product to several gold producers,” noted Dr. Jonathan Gluckman, President & CEO of Sixth Wave. “Much of the potential economic benefit associated with our IXOS® product is derived from the ability to capture more gold than legacy technologies through the adsorption recovery process. The increasing gold prices we are seeing in the current environment significantly increase the value proposition associated with IXOS®. We look forward to continuing our work demonstrating the superior effectiveness of this product to the industry.”
Dr. Gluckman continued, “The surge in price for gold is also opening up new opportunities for the Company as deposits not previously profitable to mine become viable. This applies to greenfield projects as well as reprocessing of tailings dumps. With reduced capital costs for an IXOS® plant, the opportunity to deploy mobile plants tailings projects have become a key market for Sixth Wave.”
Further Patent Protection
Lastly, the Company is pleased to report that the Patent Office of Russia has granted the Company a patent for its metal extraction and purification polymers based on molecularly imprinting. (Russian Patent No. 2719736; MOLECULARLY IMPRINTED POLYMERS BEADS FOR EXTRACTION OF METALS AND USES THEREOF).
The issuance of this patent extends the Company’s patent portfolio and demonstrates the continued success of the Company’s overall intellectual property (IP) protection strategy.
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The Company is in the process of commercializing its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for detection and separation of viruses, biogenic amines and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned features of the MIPs technology. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the MIPs technology are subject the risk that the MIPs technology may not prove to be successful in detecting virus targets effectively or at all, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if its patent application is not successful. The Company has not yet completed development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.