All Grade Mining Files New Stake of Claim to Significantly Expand its Plateada Copper Sulfide Project
February 03 2014 - 8:00AM
Access Wire
HASBROUCK HEIGHTS, N.J. / February 3rd, 2014 /
ACCESSWIRE / All Grade Mining (OTCQB: HYII), a
development-stage company focused on the extraction of copper,
today announced that the Company has applied for a new stake of
claim for its Plateada mining concessions encompassing additional
property and bringing the total square area of the project to 300
hectares.
The Company’s new stake of claim will more than triple the size
of its its Plateada Copper Sulfide Project, originally 90 hectares
and located approximately 55 kms southeast of Ovalle, Chile in the
commune of Combarbala. The action was recommended by Ambiental
Chile, SA, which All Grade Mining recently contracted for its
expertise in mine engineering, compliance and permitting.
Ambiental Chile, SA cites two primary reasons for seeking to
expand Plateada that the company believes will increase the
project’s value. The company states the easement to the road
covered by this additional square area will eliminate any
possibility of having common use of the area’s infrastructure that
was created at the expense of the operations prior to All Grade
Mining’s acquisition of the mine.
Secondly, Ambiental Chile claims this additional land will allow
safe distance and enough square area for the Company’s future plans
to install a proprietary concentration plant. Additionally, the
previous explorations claims filed by prior prospectors for
Plateada have expired.
“All Grade believes that by ensuring the sole use of Plateada’s
infrastructure and allowing for the installation of our own
concentration plant in the future, we are greatly increasing the
intrinsic value of this copper sulfide project for the company and
its shareholders. Based on Ambiental Chile’s expert advice,
significantly expanding the area of our Plateada property through a
new stake of claim will accomplish these goals and we will work
very closely with them throughout theprocess to ensure this
project’s success,” commented CEO of All Grade Mining, Gary
Kouletas.
The Company anticipates completing the “mensura” process and
submitting its exploration plan within the next 6 months. Following
the successful completion of these steps, All Grade Mining can then
be issues a constitutive sentence (irrevocable stake of claim) for
its Plateada project. Ambiental Chile estimates this process will
occur in tandem with the commencement of production at the
site.
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.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.
Contact:
888-959-7095
ir@allgrademining.com
Source: All Grade Mining