Itronics Expands Auric Gold & Minerals Polymetallic Gold Project by 65 Percent
December 07 2010 - 8:40AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) wholly-owned subsidiary Whitney
& Whitney, Inc. reported today that its claim staking
contractor has completed staking 114 additional lode mining claims
for Auric Gold & Minerals, Inc. The project area has been
expanded by 65 percent since the end of August, 2010.
The project area is now covered by 289 claims and encompasses
5,780 acres, approximately 9 square miles. At the end of August
2010, 175 claims encompassing approximately 3,500 acres had been
staked on BLM land. Since September 1, an additional 2,280 acres
have been staked and claim staking is continuing.
The Auric polymetallic gold project has been named the Fulstone
Project and classified as an IOCG (Iron Oxide Copper Gold)
exploration target. The Fulstone Project is located within the
Yerington Mining District about 90 miles south east of Reno,
Nevada. The community of Yerington, Nevada, is located in the south
central portion of the district.
The Yerington Mining District was one of the first copper mining
districts within Nevada with copper development and production
initiated in the 1800's. Today the Yerington Mining District is a
world class district that hosts a cluster of very large undeveloped
copper deposits that contain iron, gold, molybdenum, and silver.
There are two deposits within the district that are "elephant"
size, with reserves and resources approaching 2 billion tons that
contain almost 8 million tons of metallic copper. One of these
deposits (Pumpkin Hollow) is an IOCG (Iron Oxide Copper Gold)
deposit and the other (Ann Mason) is a porphyry copper deposit.
"We believe that the Yerington Mining District is one of the few
locations in the world that hosts a cluster of such large,
undeveloped copper deposits," said Dr. John Whitney, Itronics
President. "With diminishing available undeveloped mineral deposits
globally, the Yerington Mining District is well situated for world
class mine development."
Fulstone is an advanced stage exploration project and Auric
believes it has large scale potential as an IOCG exploration
target. The deposit model Auric is looking to for guidance as to
potential mineralization is the Pumpkin Hollow IOCG Project with
2009 NI 43-101 compliant measured, indicated and inferred resources
of 929 million tons containing 4.65 million tons of copper, 1.45
million ounces of gold, 55 million ounces of silver, 48 million
pounds of molybdenum and 183 million tons of iron in five deposits.
The Fulstone Project has many similarities to the Pumpkin Hollow
Project, but has not yet been drilled and does not have any
measured, indicated, or inferred mineral resources.
Whitney & Whitney identified the Fulstone project for Auric
and negotiated to help Auric acquire the highly prospective mineral
property. Auric is a majority owned affiliate of Whitney &
Whitney, Inc. and was formed to acquire multi-mineral
(polymetallic) gold properties, and to strategically invest in
Junior Gold and Minerals Companies that provide the opportunity to
develop and commercialize environmentally friendly polymetallic
gold projects.
About Itronics Headquartered in Reno,
Nevada, Itronics Inc. produces GOLD'n GRO liquid fertilizers and
silver bullion. Itronics, through its subsidiary Whitney &
Whitney, Inc. is developing environmentally compatible mining
technology and is now providing project planning and technical
services to its mining affiliate Auric Gold & Minerals, Inc. It
also operates the popular InsideMetals.com web site,
http://www.insidemetals.com, which provides a value-added WORLD
VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold
Stocks, and Junior Mineral Stocks.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity and
access to public markets, operating expense reduction, and trends
in the industry in which the Company operates. The forward-looking
statements contained in this press release are also subject to
other risks and uncertainties, including those more fully described
in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update these
forward-looking statements to reflect actual results, changes in
risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive
effect.)
Contact: Paul Knopick 888-795-6336
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