RENO, Nev., April 30, 2014 /PRNewswire/ -- Discovery Minerals LTD. (OTC Pink: DSCR) (PINKSHEETS: DSCR) is pleased to provide shareholders with additional information regarding the Joint Venture (JV) with Syngar Technologies. As announced yesterday, the newly formed JV is being extended an exclusive North American license with Cellunol Inc. Cellunol Inc. is a joint venture formed between ANW Inc. of South Africa and Syngar Technologies.
Cellunol's proprietary technology will be deployed through a pilot project set up with one of Discovery's Industrial Hemp growing partners. An inventory of existing industrial hemp is being secured for the purposes of the pilot project. The objectives are to determine the overall cost reductions and increases in ethanol production, resulting from the technology. A typical 600 acre hemp parcel can potentially expect to generate $1,686,000 in revenue and $1,129,000 in profit, not including the possibility of applying for available carbon tax credits.
The following findings are based on a 2011 Manitoba dual-purpose crop report incorporated with a Western Manitoba farmer's report. The conclusions and yield calculations are as follows:
Hemp producing farmland yields approximately 189,000 plants per acre which produces 700 lbs of grain (seed) and 1.5 tons of stalk. Approximately 70% of the 1.5 tons of stalk is the inner hurd core with the remainder being the coveted rope-like fiber or bast. Half the stalk is reclaimed as the dried dead male plants along with any premature stalk material pass through the processing unit. A typical field size of 600 acres should yield about 315 tons of cellulose hurd and 135 tons of the more valuable four foot long green ribbon bast fiber. This estimated yield should generate approximately $1.686 million dollars offset by input costs of $557,000.
Once conclusive data is collected from the pilot project additional research data will be reported.
About ANW Inc.:
ANW is a private South African based company that has developed and owns a proprietary cellulose pre treatment technology and fermentation tank designs that can rapidly pre-treat cellulose materials into a slurry product suitable for fermentation by yeasts into ethanol. Their Oxy-hydro technologies can rapidly breakdown plant material without the use of stream, pressure, or dangerous acids.
About Syngar and PLUSWave:
The Company is a private Canadian company based in Edmonton, Alberta. Syngar licensed a technology, which we call "Pulsed Low Ultra Sound Wave" (PLUSWave) Technology. The PLUS Wave™ license is a worldwide and exclusive for application in biofuels. The PLUSWave Technology uses specific and proprietary ultrasound frequencies, at specific power levels, over set time intervals to stimulate the fermentation growth of algae, bacteria, fungus or yeast microorganisms by upwards of 30 - 50%.
About Discovery Minerals LTD.:
Discovery Minerals Ltd., (OTC: DSCR) is a production stage company formed to acquire and develop natural resource properties. Activities include gold, precious metals and petroleum minerals, including rare earth minerals production and sales. The Company initiated a new program to evaluate undervalued assets, including clean tech and alternative energy investments, for potential addition to its portfolio.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE Discovery Minerals LTD.