THOMPSON FALLS, MT / ACCESSWIRE / August 21, 2024 / United States Antimony Corporation ("USAC", or the "Company"), (NYSE American:UAMY) announced today the acquisition of, through a helicopter supported staking program, 69 State of Alaska mining claims, covering 11,040 acres (17.25 square miles). UAMY personnel were attracted to the area upon the recommendation of consulting geologists who had many years of Alaskan field experience, and by studying historical State of Alaska geological reconnaissance, mapping, sampling and assaying reports. One of the prime targets of the staking program was an 8-foot-wide quartz vein with very high copper values that the company geologists had previously examined. Assay values of 13 samples collected by the State geologists, from the quartz vein averaged 16.5% copper with 0.076 opt gold and 2.21 opt silver. Copper is one of the minerals on the U.S. Department of Energy Critical Minerals List.
Access to this high-grade copper exposure is particularly favorable in open to moderate terrain. The company's consulting geologists were able to drive (without the use of 4WD) to within walking distance of the quartz vein via 10 miles of existing resource roads from a major highway.
Commenting on the new mining leases acquired by the Company today, Mr. Joe Bardswich, P.E., a Director and Co-CEO of USAC stated, "Similar to our recent acquisition of mining claims with high grades of critical minerals located in Ontario, Canada, announced last week (see Press Release dated August 13, 2024), these Alaskan properties continue to expand our in-house strategic mineral reserve options. Alaskan citizens are very much aware of the importance of natural resources to the national security of this nation. State rules, regulations and the attitudes of citizens encourage environmentally responsible development without the many years of red tape found under other jurisdictions. The State of Alaska is under-explored, and we are considering other mining opportunities located in Alaska. We are currently having initial discussions with other claim holders within the area of interest regarding possible acquisitions, options or joint ventures. Due to these other activities which are ongoing, we are not yet disclosing the exact location of these new mining claims announced today."
This second announcement of new mining claims by the Company, also associated with Critical Minerals, gives our company and its shareholders an additional mining option on home grown territory. With the recent decision by China to curtail worldwide sales of antimony, we are better understanding the importance of immediate access to critical minerals necessary not only for our military in munitions, but for everyday necessities such as batteries, fire retardants, computer chips, etc. We are not in a free market when China controls so much of these materials around the world and then dictates when and how they will be sold.
About USAC:
United States Antimony Corporation and its subsidiaries in the U.S. and Mexico ("USAC", the "Company", "Our", "Us", or "We") sell processed antimony, zeolite, and precious metals products in the U.S. and Canada. The Company processes antimony ore primarily into antimony oxide, antimony metal, and antimony trisulfide. Our antimony oxide is used to form a flame-retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings and paper, as a color fastener in paint, and as a phosphorescent agent in fluorescent light bulbs. Our antimony metal is used in bearings, storage batteries, and ordnance. Our antimony trisulfide is used as a primer in ammunition. In its operations in Idaho, the Company mines and processes zeolite, a group of industrial minerals used in soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, animal nutrition, and other miscellaneous applications. We recover certain amounts of precious metals, primarily gold and silver, at our plant in Montana from antimony concentrates.
Forward-Looking Statements:
Readers should note that, in addition to the historical information contained herein, this press release may contain forward-looking statements within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon current expectations and beliefs concerning future developments and their potential effects on the Company including matters related to the Company's operations, pending contracts and future revenues, financial performance, and profitability, ability to execute on its increased production and installation schedules for planned capital expenditures, and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-K and Form 10-Q with the Securities and Exchange Commission.
Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "pro forma" and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance.
Contact: United States Antimony Corp. PO Box 643 47 Cox Gulch Rd. Thompson Falls, Montana 59873-0643 E-Mail: [email protected] Phone: 406-606-4117
