INCEPTION MINING INC. Announces Second Quarter 2016 Gold Production
July 13 2016 - 9:45AM
Marketwired
INCEPTION MINING INC. Announces Second Quarter 2016 Gold
Production
SALT LAKE CITY, UT-(Marketwired - Jul 13, 2016) - INCEPTION
MINING INC. (OTCQB: IMII) ("Inception" or the "Company") announced
today the results of its second quarter gold production at the
Cerros Del Sur operation in Honduras, the principal operation of
its wholly-owned subsidiary, Clavo Rico Ltd.
Production for the second quarter, including the last gold dor
processed during the last week of the month, was on target with the
projected quarterly gold production rate of 1500 ounces. With
higher than expected rain during the month of May, production
remained consistent. Recognizing that rain is a factor in operating
in Central America, the Company has embarked on measures designed
to mitigate the effects anticipated for the major rainy season
beginning in September. The Company feels fortunate to also benefit
from the increase in gold prices.
Clavo Rico Ltd.'s principal mining operations in Honduras,
Central America operate via a majority-owned subsidiary with
positive revenue and significant resources. Its mining concessions
include several historical underground operations dating back to
the early Mayan and Spanish occupation.
The operating entity is engaged in processing a historical
tailings body of less than three grams per ton, along with several
open pit ore bodies of three to six grams per ton, utilizing a new
650,000-ton membrane-lined leach system and ADR recovery plant.
The Company is now optimistic that owned and profiled reserves
are sufficient to maximize the existing leach pad, generate
revenues and support the planned exploration program with an
expanded 43-101 reserve analysis. Our team plans to focus on
bringing those new bodies to production within the next two years
and plans to embark on a comprehensive mapping of the additional
concessions.
Reflecting on the recent developments, Michael Ahlin, the
Company's CEO, stated, "While historical data can be the basis for
an acquisition, new data is necessary to confirm and boost
confidence in the project. We are very pleased with the results of
our operations to date."
About INCEPTION MINING INC.
We are a minerals resource company engaged in the production of
precious metals, primarily gold. Our activities include
acquisition, exploration, and development of gold-related
properties. Our primary target properties are those that have been
the subject of historical exploration having significant supporting
data.
Forward-Looking Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release are forward-looking statements that
involve various risks and uncertainties. Forward-looking statements
in this news release include statements with respect to the
potential mineralization and geological merits of the Company's
properties. There can be no assurance statements will prove to be
accurate and actual results and future events could differ
materially from anticipated in such statements.
INCEPTION MINING INC. disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information or future events, except as required by
applicable securities legislation.
SOURCE: INCEPTION MINING INC.(OTCQB: IMII)5330 South 900
EastSuite 280Salt Lake City, Utah 84107Michael AhlinCEO(801)
312-8113 Ext. 102www.inceptionmining.com
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