THOMPSON FALLS, Mont.--(BUSINESS WIRE)--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported on two of the five Mexican antimony properties it is producing.
“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 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.