Britannia to Mobilize Chrysos PhotonAssay(TM) Units in Mining Solutions Division
- Britannia Mining Solutions, will install and operate two Chrysos PhotonAssay™ units with the first unit to be delivered in H2 2023
- Chrysos PhotonAssay™ delivers faster, safer and more accurate gold analysis, and is an environmentally friendly replacement for fire assay
- Establishes Britannia as the global mining industry’s leading technology-enabled and ESG friendly solution
Toronto, Ontario–(Newsfile Corp. – May 16, 2022) – Britannia Life Sciences Inc. (CSE: BLAB) (FSE: L020) (“Britannia”) is pleased to announce that its partially owned subsidiary, Britannia Mining Solutions Inc. (“BMS”), has entered into two Asset Purchase Agreements (APA) with Chrysos Corporation Limited (“Chrysos”) pursuant to which BMS will install and operate two Chrysos PhotonAssay™ (“PhotonAssay”) units.
As previously announced, BMS was established to provide technology enabled solutions to the global mining industry by setting up laboratories to address the global backlog in minerals assays. BMS is being funded separately from Britannia and completed a non-brokered private placement for proceeds of $500,000 on March 7, 2022, which included the participation of a distinguished group of mining investors and advisors including Eric Sprott and Dr. Quinton Hennigh.
The first PhotonAssay unit is expected to be commissioned in the second half of 2023. BMS is currently engaged with a variety of mining companies to discuss their assay needs. Based on these discussions, BMS expects to deploy its first unit in northwestern British Columbia, allowing it to provide assay services within the world-renowned Golden Triangle mining district. The second unit is expected to be delivered in early 2024 and will be strategically sited in Nevada, servicing the prolific gold-producing belts of northern Nevada.
The Chrysos PhotonAssayTM technology addresses the many challenges of legacy assay processes, including safety and sustainability, with a significantly faster sample turnaround time. The PhotonAssay solution provides results in as little as two minutes and eliminates the need for toxic chemicals used in the slower, more hazardous fire assay process.