Graystone Company Announces Copper Campaign #2 Update
August 12 2014 - 9:30AM
Business Wire
The Graystone Company (OTC: GYST) announced today that its
wholly owned subsidiary, Grupo Mineral Inca, SAC (GMI) has compiled
approximately 130 tons of high grade copper ore so far for its
Copper Campaign #2. The company has started shipping the ore to its
processing plant in Nazca, Peru. The company conducted an aggregate
test sampling of the 130 tons of ore and the percentage of copper
in the ore is currently testing at an estimated 20-22% increase
compared to the final results from profitable campaign #1.
In addition, the lab results also indicate a recoverable amount
of gold, which the company’s metal ore engineer will also recover
with the copper as a concentrate via froth flotation.
The process of froth flotation entails crushing and grinding the
ore to a fine size. This fine grinding separates the individual
mineral particles from the waste rock and other junk mineral
particles. The grinding is done in water with the resultant slurry
called the pulp. The pulp is processed in the flotation cells,
which agitate the mixture and introduce air as small bubbles. The
ability of a mineral to float depends upon its surface properties.
Chemical modification of these properties enables the mineral
particles to attach to an air bubble in the flotation cell. The air
bubble and mineral particle rise through the pulp to the surface of
the froth or foam that is present on the flotation cell. Even
though the air bubbles often break at this point, the mineral
remains on the surface of the froth. The mineral is physically
separated from the remaining pulp material and is removed for
further processing.
Pictures and videos of GMI conducting this process during
campaign #1 are located on the company’s YouTube and Flickr media
streams via links at www.graystone1.com
As in campaign #1, the company intends on selling it’s processed
concentrate to its Chinese concentrate buyers.
Because of the higher quality ore and our repeat business, the
processing plant has reduced GMI’s minimum quota from 200 tons of
ore to 150 tons.
GMI is also in the final stages of negotiating a 45 ton bulk ore
purchase that, if completed this week, would enable the company to
start processing its ore as early as next week.
As a reminder,
The company’s campaign #1 produced 203 tons of copper ore at a
total cost of $108.37 per ton and took over 90 days to complete.
The company sold its copper concentrate equaling $184.72 per ton of
ore. Because of the expected gold recovery that was not present in
campaign #1 and the increased copper purity, The Company
anticipates seeing an increase in its net profit for campaign
#2.
About The Graystone Company.
The Graystone Company, Inc. is a U.S.-based mining and exploration
company focused on acquiring and developing gold and other mineral
properties. The Company's strategy is to build value for
shareholders by the identification, acquisition and exploration of
early-stage properties that show significant potential for the
discovery of gold.
Notice Regarding Forward-Looking
Statements in this press release, which are not purely
historical, are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
Contacts:The Graystone Company, Inc.Paul Howarth(702)
289-4827info@graystonegold.comwww.graystone1.com
The Graystone Company, Inc.Paul Howarth,
702-289-4827info@graystonegold.comwww.graystone1.com
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