Company Receives Final Results of its Most Recent Assessment and Expansion Study
HACKENSACK, N.J. / April 25, 2014 / All Grade Mining (OTCQB: HYII), a development-stage company focused on the extraction of copper, today announced that the Company has received the final report of a geological survey and reserve estimate for its Plateada Copper Project in Chile.
The full 48 page report can be found in this morning’s 8K filing from the Company and was completed by Ambiental Chile SA, an engineering firm hired by All Grade Mining’s primary consultant, Foreign Commerce Consultative Services, Inc.
The report confirms that the Company’s Plateada property contains higher than expected traces of gold and silver as well as commercial grade copper oxide. Earlier this month, All Grade Mining announced that recent sample results confirmed by this report have led the Company to project that its Plateada Copper Sulfide Project will produce 45,000 tons of total mineral concentrate during its first year of operation, which would generate $3.87 million in revenue.
"We are pleased to receive the final geological survey and resource estimates for All Grade Mining’s Plateada property. These confirm recent positive samples results that have led to an increase in our production and revenue projections and will provide Foreign Commerce led by Tony Alvarez and the rest of our consulting team with the tools to successfully take the next step toward production on this copper project,” stated Gary Kouletas, All Grade Mining’s CEO.
“All Grade Mining is now primarily focused on meeting our SEC reporting requirements and positioning the Company for future growth,” added Mr. Kouletas.
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: 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.
Source: All Grade Mining
Release ID: 41913