THOMPSON FALLS, Mont.–(BUSINESS WIRE)–
United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) today provided an update on Mexico operations and expansions efforts for the Bear River Zeolite project in Montana.
ANTIMONY. Madero Smelter, Coahuila, Mexico
The large furnace (“LRF”) at the Madero smelter in Coahuila, Mexico is being fired in to cure the refractory. This will be followed by the fuming of up to 10 metric tons per day of high-grade concentrate from Australia and will take the place of 20 small furnaces (“SRF”). The SRFs will then recommence processing a large inventory of the USAC’s Mexican mine concentrates.
GOLD AND SILVER. Los Juarez Deposit, Mexico
Production of gold and silver from the Los Juarez deposit in Queretaro, Mexico has been put on hold until two circuit changes are approved. Phase one of the changes required at Madero involves a pre-furnace step to recover gold and silver from the concentrates. We are approved to start installation of this change. The second phase will involve a cyanide leach circuit at the flotation mill at Puerto Blanco in Guanajuato to recover the balance of gold and silver from the floatation tailings. Approval of this phase is expected shortly. Much of the necessary equipment for both circuits is currently on hand and implementation of the changes could move rapidly.
ZEOLITE. Bear River Zeolite, Idaho
A major expansion at the Bear River Zeolite (BRZ) project in southeast Idaho, is progressing since April 2015, with the addition of six hundred acres, increasing the land position to more than 1,300 acres. Permitting is underway with the US Bureau of Land Management to expand the open pit. At BRZ there is very little overburden, and mining costs are low. To manage the increase in production activities, a 9 cubic yard loader, two large excavators, and another 35 ton capacity rock truck have been added to the mining fleet. A second granule production line is being brought on-line at the mill to increase the granule production to 240 tons per day. In addition, the fine particle circuit has a capacity of 200 tons per day.
CEO John Lawrence said that “the commissioning of the LRF will allow the Company to process more Australian concentrates and also the large inventory of USAC’s own mine production in Mexico. Funds from the liquidation of the inventory are targeted to complete both circuits for the precious metal recovery from Los Juarez. Multiple applications of BRZ in the oil and gas industry are a major target for the Company going forward.”
U.S. Antimony is a growing natural resource company that produces antimony, zeolite and precious metals through its operations in Mexico, Montana, and Idaho.
Monique Hayes, recently appointed to handle Investor Relations, can be reached at (208) 699-6097. News releases will be posted on the USAC website www.usantimony.com on the first Monday of each month unless it is a holiday, then it will be posted on the next Monday. Additional information for U.S. Antimony can also be found on the Company’s web site at www.usantimony.com.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company’s operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company’s most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
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John Lawrence, 406-827-3523
