U.S. Patent Office Acts on Company's 'Portable Mining Apparatus' Application

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Source: Streetwise Reports   09/26/2018

The technology for which the Notice of Allowance has been issued is the company's "HM X-tract mobile modular mining/extraction process."

Mineworx Technologies Ltd. (MWX:TSX.V; MWXRF:OTCQB), a provider of non-toxic precious metals extraction solutions to the E-Waste and mining industries, announced that the U.S. Patent and Trademark Office recently issued a Notice of Allowance for the Mineworx patent application for "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.

Greg Pendura, CEO of Mineworx stated, "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. 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 company stated that 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.
  • Cleanup of any other metallic solids soil contamination.

Mineworx also announced that it 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 in January 2014.

The warrants can be exercised for common shares of Mineworx at a price of 26 cents per share and were previously extended to the current expiry of November 7, 2018.

The company proposes to extend the expiry date of the warrants to 4:30 p.m., Edmonton, Alta., time on January 7, 2019.

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( Companies Mentioned: MWX:TSX.V; MWXRF:OTCQB, )

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