United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported on
two of the five Mexican antimony properties it is producing.
The first property is the Wadley in the state of San Luis Potosi, and it
has been the largest producer of antimony in Mexico with a recorded
production of 57,612 tons of metallic antimony by 1943 and probably
another 25,000 tons since that time. While permitting the mine and a
plant to recover antimony from lower grade rock, the company is buying
mineral from local miners. In the last sixty days, the number of miners
has increased from less than ten to more than 75. USAC’s CEO, John
Lawrence, commented, “We are delighted with the support and interest of
people from the five local communities in the Wadley area that have
relied on the mine since 1898.”
The second property is the Los Juarez in the state of Queretaro. Twelve
hundred sixty one tons of rock from the Mina Grande West open pit was
mined to a depth of 25 meters and milled. The weighted average feed
grade was 0.55% antimony, 5.12 ounces of silver (159.23 grams) per
metric ton, and 0.050 ounces (1.555 grams) of gold per metric ton. The
average recovery of the antimony was 70.66%, and the recovery is
expected to increase at depth. The average recovery of silver was 74.2%
and the gold was 29.18%. An average of 1.32 ounces of silver and 0.0355
ounces of gold or more than $90.00 per ton were lost. John Lawrence
commented that “We are extremely pleased to report that metallurgical
testing by an independent laboratory has indicated that by treating the
flotation tailings, a high 90% recovery of the silver and gold is
achievable. Los Juarez is a 'precious metal property with antimony
values', and more mining and milling will proceed from the other seven
faces.”
USAC is a vertically integrated producer of antimony, silver, gold, and
zeolite. The Company is the only significant producer of antimony in the
United States and remains in a "sold-out condition.”
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.
Copyright Business Wire 2013