Eco Ventures Group Signs Joint Venture to Commercialize Mineral Recovery Technology
GROVELAND, Fla., Aug. 15, 2011 /PRNewswire/ -- Eco Ventures Group, Inc. (OTCBB: EVGI) announced today that it has signed a joint venture agreement with Raptor Technology Group, Inc. to commercialize its proprietary mineral recovery technology. Under the terms of the agreement, EVGI will provide funding, management and business development services to construct and operate an initial 10,000 ton per year mineral recovery facility utilizing this proprietary recovery process.
As of today, the infrastructure for a 10,000 ton per year facility has been constructed. This includes the permitting, plumbing and most of the necessary equipment to run the facility at full capacity. Initially, the plant will operate as a 5,000 ton per year facility. As EVGI completes the next phase of development, the plant will increase the production to full capacity processing 10,000 tons of ore per year. EVGI will use proprietary technology anticipated to process a ratio of 10 to 1 raw ore to concentrated ore. For example, processing 5,000 tons of concentrated ore is equivalent to processing 50,000 tons of raw ore.
The plant will utilize an advanced, proprietary separation and leaching technology that does not use hazardous chemicals to recover precious metals including, gold, platinum, palladium and rare earth elements. EVGI has an exclusive, long-term contract with a Utah mining company to supply the ore for this project.
This proprietary methodology of concentrating the ore body prior to processing is delivering promising returns from the labs. Initial testing of the contracted ore by an independent assay lab has produced significant results showing gold, platinum and palladium.
"This joint venture between EVGI and Raptor will be one of the keys to our success. Our company is focusing on a long-term plan to maximize the commercialization and production of both the technology and our ore contract. The initial claim represents more than 12,000,000 potential tons of ore to process. This unique minerals recovery technology, along with our current ore supply, has the potential to keep the plant running for many years," said Randall Lanham, CEO of Eco Ventures Group. "Precious metal prices have been at historically high levels and we expect that this agreement for mineral extraction will contribute a significant portion of EVGI's future revenues and projected profits," added Lanham.
About Eco Ventures Group, Inc.
Eco Ventures Group, Inc. is a family of ecologically friendly and economically sound businesses committed to providing for society's minerals, energy and renewable resource needs.
EVGI concentrates on two core business activities. EVGI's Eco Minerals Recovery Group specializes in the extraction of precious metals from ore bodies and reclaimed mine tailings, and Eco Energy Group will focus on the production of advanced biodiesel from recovered cooking oils and oil rich plants.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: EVGI encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Eco Ventures Group, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Contact
Eco Ventures Group, Inc.
7432 E. Highway 50
Suite 101
Groveland FL 34736
Phone: (352) 557-4830
Website: www.ecoventuresgroup.com
Email: [email protected]
SOURCE Eco Ventures Group, Inc.
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