All Grade Mining Reports Positive Sample Results for its Plateada Copper Projectadmin
Samples Reveal Higher than Expected Traces of Gold, Silver and Copper Sulfide Concentrate
HASBROUCK HEIGHTS, N.J. / ACCESSWIRE / April 4, 2014 / All Grade Mining (OTCQB: HYII), a development-stage company focused on the extraction of copper, today reported that recent samples taken from its Plateada copper property show higher than expected trace amounts of gold and silver as well as high concentration copper sulfide.
According to lab results for base metals and solubility based on samples taken on the Plateada property, copper sulfide exists at Plateada in the range up to 7.75% grade. The standard commercializable grade for copper sulfide is generally 0.5% or greater meaning that when concentrated CU content per ton of concentrate will be as high as 40%. The samples were collected by Ambiental Chile, SA, an engineering firm hired by All Grade Mining’s primary consultant, Foreign Commerce Consultative Services, Inc.
Copper oxide samples from the property reportedly range between .021% and 4.2%, which management states is commercial grade and could easily be sold to ENAMI or other entities once produced. Additionally, samples indicate that the property’s gold would yield between 0.5 and 2.1 grams per ton and silver would yield between 286 and 550 grams per ton.
Based on these results, All Grade Mining projects that its Plateada Copper Sulfide Project will produce 45,000 tons of total mineral concentrate during its first year of operation, which would generate $3.87 million in revenue.
In addition to taking mineral samples, Ambiental Chile, SA has also completed the assessment and expansion study on Plateada and All Grade Mining expects to receive these full results in the near future, including tonnage and reserve estimate of the property’s mineralization body, confirming the overall value of the mine and its life expectancy. The Company also reports that the first level tunnel structure in the mine was imploded and the expansion plan for the lower level is complete.
“All Grade Mining is very excited to report recent sample results indicating that our Plateada project will produce more revenue per ton than initially projected due to a greater presence of trace gold and silver than expected. With these new findings, company has now increased the profit margins on our Plateada project and we look forward to announcing the results of our final assessment and expansion study on the property in the near future,” commented Gary Kouletas, CEO of All Grade Mining.
About All Grade Mining, Inc.
All Grade Mining is a development-stage company whose mission is to acquire mining concessions in all phases, all sizes and all minerals. The Company is currently focused on the extraction of copper in South America, primarily in Chile and has established an experienced team of executives and mining professionals to lead its exploration and excavation efforts. For more information please visit: http://www.accesswire.com/www.AllGradeMining.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: All Grade Mining
Posted: April 4th, 2014 under ACCESSWIRE.