TSX-listed Chesapeake Gold Corp says patenting of its sulphide-ore heap leaching method allows it to press ahead with a plan to “build shareholder value from the technology”.
The Canadian minnow, which recently raised C$20 million of equity funding with backing from billionaire resource investor Eric Sprott, said it had secured an initial patent from the US Patent and Trademark Office and now had patents issued or pending in the US, Canada, Argentina, Australia, Brazil, Chile, Mexico and Peru. Chesapeake acquired the technology when it bought private British Columbia company Alderley Gold Corp in 2021. It says commercial oxidative leach technology could open access to a US$1.7 trillion global refractory ore market with gold at $3000/oz or more.
“The [US] patent protects Chesapeake’s technology and reinforces the strength of our intellectual property,” CEO Jean-Paul Tsotsos said. “The patent supports our corporate strategy to build shareholder value from the technology, unlocking economic value from refractory sulphide gold and silver projects.
“Chesapeake is the authority on this technology with the in-house expertise and nearly a decade of testwork and R&D experience.”
Chesapeake wants to use the technology at its proposed $360 million Metates gold-silver project in Durango, Mexico, where it aims to produce an average 110,000 ounces of gold and 2.5 million oz of silver a year for the first 15 years of operation.
