HIGHLIGHTS: The Puerto Blanco mill for the Los Juarez gold, silver, and antimony deposit will start production testing during January 2020.
Thompson Falls, Montana. United States Antimony Corporation (“USAC”, NYSE American “UAMY) reported that production testing of the cyanide leach circuit at the Puerto Blanco mill in Guanajuato has begun. Security and transportation measures are being implemented.
The Los Juarez mineralization is disseminated in jasperoid pipes that are present over a strike length of 3.5 kilometers, up to 1 kilometer in width, and are believed to be continuous below 400 meters. The jasperoid is recognized visually, but the grade of the gold and silver are speculative and are best determined by milling. The antimony mineralization is visually recognized and generally is a signature of the precious metals. A global assay based on shallow drilling, sampling, and mill testing is 0.035 ounces of gold, 3.27 ounces of silver per metric ton and 0.65% antimony. The gold equivalent of the values is 2.6 grams. Sampling of different areas has disclosed gold greater than one ounce and silver up to 47 ounces per metric ton, and antimony up to 10%. The deposit is bulk mineable by open pit methods for years, and the grade is excellent for an open pit.
Estimated sales during 2018 and 2019 are as follows:
|BRZ zeolite tons||14,321||13,728||-4.2|
The average Rotterdam price for antimony metal during December 2019 was $6,027.12 per metric ton or $2.818 per pound.
CEO John Lawrence said “We are excited that after years of permitting, metallurgical research, exploration, mining, building a flotation mill that the final phase using cyanide leaching to recover the gold and silver lost in the flotation process by is being verified.”