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Rio2 Ltd (2)
Symbol RIO
Shares Issued 254,236,483
Close 2022-01-11 C$ 0.59
Recent Sedar Documents

Rio2, Sixth Wave to begin phase 2 IXOS work at Fenix

2022-01-11 10:24 ET - News Release

Also News Release (C-SIXW) Sixth Wave Innovations Inc

Mr. Alex Black of Rio2 reports

COMMENCEMENT OF SECOND PHASE IXOS TEST WORK AT THE FENIX GOLD PROJECT

Rio2 Ltd. and Sixth Wave Innovations Inc. have confirmed that the second phase test work of patented IXOS purification polymer will begin at Rio2's Fenix gold project in Chile in mid-January, 2022. The second-phase test work at the mine site follows on from the successful completion of ore tests at Sixth Wave's Salt Lake City, Utah, facility in August, 2021.

Sixth Wave will perform adsorption tests using IXOS beads with solution from installed heap leach columns to evaluate adsorption kinetics and other parameters. Testing will include operation of the system under a variety of testing scenarios to validate IXOS performance and refine the cost/benefit analysis. Potential positive environmental, social and governance (ESG) impacts and a reduced carbon footprint (CO2 (carbon dioxide) emissions) using IXOS instead of activated carbon for the process plant will also be explored during this phase of the project. The IXOS process operates at a significantly reduced power consumption and with fewer reagents than activated carbon, creating opportunities for enhancement of Rio2's ESG initiatives at its Fenix gold mine.

"Sixth Wave is committed to making a positive contribution to the optimization of the adsorption/desorption process of the planned future expansion of the Fenix gold mine from its initial throughput rate of 20,000 tonnes per day," noted Dr. Jon Gluckman, president and chief executive officer of Sixth Wave Innovations.

Alex Black, president and chief executive officer of Rio2, stated, "The Fenix gold mine will initiate operations with a carbon adsorption component of the processing plant, but we are hoping that, as a result of this upcoming test work, the IXOS process can be proven as a more cost-effective, energy-efficient and environmentally friendly solution for the adsorption process when we look to expand mine production in the future."

Rio2 has granted 2.1 million incentive stock options to purchase Rio2 common shares to certain officers and employees pursuant to Rio2's stock option plan.

These stock options have an expiry date of Jan. 11, 2027, and will vest as to one-third thereof on each of the first, second and third anniversaries of grant. Each stock option entitles the holder to purchase one Rio2 common share at a price of 65 cents for a period of five years from the date of grant.

About Rio2 Ltd.

Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets record. Rio2 is focused on taking its Fenix gold project in Chile to production in the shortest-possible time frame based on a staged development strategy. In addition to the Fenix gold project in development in Chile, Rio2 continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multiasset, multijurisdiction precious metals company.

About Sixth Wave Innovations Inc.

Sixth Wave is a development-stage nanotechnology company with patented technologies that focus on extraction, purification and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The company is in the process of commercializing 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, purification and separation of viruses, biogenic amines and other pathogens, and nutraceuticals for which the company has products at various stages of development.

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