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