Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

U.S. Antimony Reports Los Juarez Mill Testing in Progress

UAMY

United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported mill testing of the Los Juarez property in Queretaro, Mexico is in progress to determine whether a cyanide leach circuit is necessary. If it is not required, then no further permitting is foreseen to commence pilot scale production.

The startup plan is to test every step of the operation on a pilot mill scale of up to 100 tons per day.

Stage 1. The installation of the alkaline leach circuit at the Madero smelter in Mexico to process flotation concentrates is nearing completion.

Stage 2. Milling campaigns of rock from different locations at Los Juarez are now underway to determine (1) whether selective mining is possible, and (2) to determine whether a cyanide circuit at the Puerto Blanco mill in Guanajuato is required.

Stage 3. The installation of the cyanide leach plant at Puerto Blanco may not be necessary following stage 2.

Stage 4. will include the installation of the 500 ton per day mill close to the mine to reduce trucking costs.

Los Juarez is a gold-silver-antimony deposit consisting of pipes intruded into limestone from substantial depths that are exposed over 3.5 kilometers in length and up to 1 kilometer in width. A shallow reconnaissance drilling program indicates a global average grade of 0.057 ounces (1.432 grams) gold, 2.43 ounces (75.24 grams) silver per metric ton, and 0.343% antimony. The gross value is $128.22 per ton based on gold at $1,250.00/oz, silver at $15.000/oz, and antimony at $2.45/lb. USAC claims no reserves per SEC definitions, and the drilling does not comply with Canadian NI 43-101.

A 63% increase in production from 2015 to 2016 was a result of the full time use of the LRF furnace. The production of antimony and BRZ zeolite are as follows:

                     
Product        

Antimony
pounds sold

       

BRZ tons
sold

January 2016         267,076         1,043
February 2016         305,630         905
Total 2016         572,432         1,948
January 2015         230,585         1,099
February 2015         118,945         923
Total 2015         349,530         2,024
Change from 2015 to 2016         +63.8%         -3.75%
               

CEO John Lawrence said, “If a cyanide leach plant is not necessary at the Puerto Blanco mill, a tremendous savings in time and money could be realized for the startup of Los Juarez. Continued growth during 2016 is being funded internally to prevent the dilution of the shareholder base or taking on debt.”

About U.S. Antimony

US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony.

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.

United States Antimony Corporation
John Lawrence, 406-827-3523



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today