ITRONICS PROVIDES
UPDATE ON ITS MAJORITY OWNED
AURIC FULSTONE POLYMETALLIC GOLD EXPLORATION
PROJECT
RENO, NV -- July 14, 2020 -- InvestorsHub NewsWire -- Itronics Inc.
(OTC:ITRO),
an emerging "Cleantech Materials" growth Company that manufactures
GOLD'n GRO Multi-Nutrient Fertilizers and produces Silver, today
reported that its subsidiary, Whitney & Whitney, Inc. is
providing an update on the Auric Gold and Minerals, Inc. Fulstone
polymetallic gold exploration project and its fit as a strategic
strength for Itronics.
The Auric Fulstone Project has the potential to be a major Nevada
epithermal gold system combined with an expansive Yerington
District copper system. In combination with the gold and copper
potential, geochemical tests confirm the strong presence of silver,
zinc, lead, molybdenum, and iron. Fulstone represents an extremely
strong polymetallic gold exploration target that is ready to
drill.
Kitco recently stated that S&P Global reported: "During the
last three years there were no major new gold discoveries." Keven
Murphy, S&P Global Principal Research Analyst, stated further:
"While there are plenty of gold assets to be developed, the lack of
new major deposits being discovered means that the project pipeline
is increasingly short of large, high quality assets needed to
replace ageing major gold mines."
"Auric Fulstone is the type of advanced exploration target that has
the characteristics of a new major gold deposit," stated John Key,
President and COO of Auric Gold and Minerals, Inc. "Fulstone has
significant gold potential but also represents a major silver,
copper, zinc, lead, molybdenum, and iron target making it a true
polymetallic gold target. Auric is committed to advancing Fulstone
to the next stage."
Itronics is looking to capitalize on what the United States
Geological Survey deems "one of the giant copper porphyry-related
metal camps of the world." Tracking with this sentiment, Auric's
Fulstone claims are prospective for an epithermal gold/silver
deposit, in addition to porphyry copper and porphyry molybdenum
deposits, and strata bound silver, zinc, and lead. Advanced stage
exploration has been performed at Auric's Fulstone property which
has returned strong metal values, confirming unusually high
concentrations of gold, silver, copper, zinc, lead, molybdenum, and
iron. The system was identified by field observation and work,
including fault mapping, geochemistry, and geophysics and is ready
for drilling.
The Auric Fulstone Project has the potential to be a major Nevada
epithermal gold system combined with an "elephant" size Yerington
District copper system. "Elephant" size deposits typical in this
district would represent 500,000,000 tons of resource and would
generate a mine life 50 years or longer.
Auric Gold and Minerals, Inc. has identified a tertiary epithermal
gold system, which it is calling the "Golden
Valley" prospect at its
Fulstone property in the Yerington Copper District. Grid soil
sampling has provided strong anomalous gold values over a strongly
jointed and strongly discolored leach cap area. One sample returned
a value of 0.4 Troy
oz.
gold
per ton.
These characteristics are the model for a typical Nevada tertiary
epithermal gold system. The current known extent of the indicated
gold anomaly is 4000 feet by 1000 feet and may be extended with
additional sampling. IP/Resistivity Geophysics indicate potential
mineralized depth of up to 2000 feet.
"A
target this size could easily host more than 100 million tons of
mineralized rock" said John
Key. "Drilling a target
this size could be very productive and needs to be done.
Fulstone
currently does not have
any NI 43-101 qualifying
resources or reserves.
We
believe drilling the Golden
Valley prospect could quickly change that."
Auric Gold and Minerals is a majority
owned
subsidiary of Itronics. Auric Fulstone is currently comprised of
2,800 acres of BLM
claims. The property is strategically located within 15 miles of
the 48-acre Itronics Cleantech Materials Campus north of Yerington,
Nevada and is geologically situated at the intersection of two
major faulting systems, both prolific producers. To date, 18,000+
feet of positive indicators have been accumulated using
IP/Resistivity data acquisition. It is believed that several
factors make Auric Fulstone a sleeping giant: 1) Auric Fulstone is
the only true 'Polymetallic' in the Yerington copper district, 2)
Auric Fulstone has been identified as a Nevada typical tertiary
epithermal gold system target, 3) Auric Fulstone's extensive
geophysical signature and strong geochemical profile in a very
large land package, and 4) Itronics' Rock Kleen Technology may be
applicable to process tailings, extract residual metals, and
address end-of-mine issues.
Auric's personnel have extensive experience exploring the Walker
Lane region, especially in western Nevada, including the
acquisition, and advancement of the Borealis Mine by Whitney &
Whitney Inc., a mining technical services firm and Itronics
subsidiary, under the direction of Dr. John Whitney,
President.
Dr. John Whitney, President, CEO and Director at Itronics, worked
with the Northern Alaska Native Association for 14 years in the
development of the Red Dog zinc mine, the largest zinc mine in the
world. Dr. Whitney was also involved in the initial discovery,
development, and start-up. He was also instrumental in the
acquisition and advancement of the Borealis Mine. In his past
career, he held the position of Geophysicist at CGG Ground
Geophysics (Australia) Pty Ltd. and Geologist at The Humble Oil
& Refining Co. He received a doctorate in Mineral Economics
from The Pennsylvania State University and a M.S. in Minerology and
an B.S. in Geology from the University of Nebraska. He founded
Whitney & Whitney, Inc. in 1977, a mining technical services
firm which participated in the development of more than ten
successful mines, including the Red Dog mine, over a span of 20
years.
John Key is currently President and Chief Operating Officer at
Auric Gold and Minerals, Inc. Mr. Key was an operational General
Manager for Teck Cominco for 20 years. Mr. Key was General Manager
of Red Dog Operations for 6 years and oversaw a $300 million
expansion that doubled the output of the Red Dog Operations. Mr.
Key was President and CEO of Gryphon Gold Corp.
and
oversaw the restart of the Borealis gold mine in 2011.
Itronics believes that Auric Fulstone represents more than just a
traditional mining opportunity. "Auric Fulstone represents a
strategic and complimentary project for Itronics. What makes this
opportunity unique and timely is that Itronics has several decades
of collective and extensive mining development and operational
experience, coupled with successful development of several clean
technology processes for extracting metals and minerals from
industrial waste streams. Cleantech methods can eliminate waste
during the various mining stages," according to Dr.
Whitney.
"Itronics has both the technology and expertise to change how
mining operations are conceived and undertaken. No longer are we
forced to accept the old standard of the 'Extraction-to-Tailings'
problem, where tailings and tailings dams become long term
environmental challenges. Itronics believes its breakthrough 'Rock
Kleen' Technology can process 'spent tailings' and extract residual
metals and minerals, potentially resulting in 100% use of the
resource; this is a potential revolutionary game changer," Dr,
Whitney said.
Of
strategic importance is the Itronics Cleantech Materials Campus.
This Campus is slated to be used to support development of the
Auric Fulstone project, as well as serve as the main manufacturing
facilities for the Company's GOLD'n GRO Multi-Nutrient Fertilizers,
Silver Bullion Production, mineral cleaning, and multiple
metallurgical business lines.
Auric is positioned to capitalize on Itronics Zero Waste Energy
Saving Technologies, which will be instrumental in the design and
development of any project at Fulstone (or essentially any mine).
Itronics Cleantech philosophy targets 100% beneficial use of a
given resource, while at the same time, minimizing energy
consumption and improving the environment.
Itronics and Auric are positioned to answer the call of
environmentally conscious mining companies, investment funds, and
individual investors who demand a more thoughtful approach to metal
and mineral extraction and recovery. Itronics believes that its
approach to cleantech mining will benefit shareholders and
stakeholders alike, not only in terms of a clean approach, but also
a profitable one.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is an emerging
Cleantech Growth Company that uses proprietary multi-nutrient
fertilizer manufacturing technologies to produce GOLD'n GRO
multi-nutrient fertilizers and breakthrough Zero Waste Technologies
to recover fertilizer ingredients, silver bullion, and
silver-bearing glass from waste streams that contain silver, gold,
copper, zinc, tin, and other metals. The Company's goal is to
achieve profitable green technology driven organic growth in
specialty GOLD'n GRO fertilizers, silver, zinc, and minerals.
The Company's technologies maximize the recovery and uses of metals
and minerals and by doing this maximize sustainability.
The Company's environmentally friendly award winning GOLD'n GRO
liquid fertilizers, which are extensively used in
agriculture, can be used for lawns and
houseplants, and are available at the Company's "e-store" on
Amazon.Com at http://www.amazon.com/s/ref=bl_sr_lawn-garden?ie+UTF8&field-brandtextbin=GOLD%27n+GRO&node+2972638011.
Due to expanded
retail customer interest, GOLD'n GRO fertilizer may now be
purchased in Reno, Nevada at "Buy Nevada First Gift Shop", 4001 S.
Virginia St.
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VISIT OUR WEB SITE:
http://www.itronics.com
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("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:
John Key
(775) 689-7666