THOMPSON FALLS, MT / ACCESSWIRE / September 4, 2024 / United States Antimony Corporation ("USAC", or the "Company"), (NYSE American:UAMY) announced today the execution of a lease agreement to become the operator of a fully permitted, environmentally compliant, 700 ton per day Contact Mill situated on private land located in Philipsburg, Montana. The Contact Mill is fully operational, complete with crushing, grinding, gravity, and dual flotation circuits. The Contact Mill has a stellar operational track record, proven in function many times over in prior years, has expansive tailings capacity, necessary support equipment, laboratories, and an experienced local technical workforce. By entering into the lease agreement, USAC will now manage a fully operational facility capable of upgrading both foreign and domestic ores that previously could not achieve the cut-off grade at the USAC operating Thompson Falls smelter, necessary to produce antimony trisulphide products that meet military specifications. The mill will also have the capability of upgrading most other metal sulphide ores and separating bi-metal and tri-metal ores into separate concentrate products, providing USAC with the flexibility to treat a variety of different critical mineral ores and achieve new income streams.
Commenting on this new agreement to manage and operate the Philipsburg Flotation Facility, Mr. Aaron Tenesch, Vice President of the Company's Antimony Division stated, "Gaining operating control of this facility which I previously managed years ago, has been my primary mission since coming on board with U.S. Antimony several months ago. We recognized that a large piece of our missing puzzle was our inability to upgrade sub-par antimony ore that we could then process in our existing smelter also located in Montana. With the recent announcement from China regarding their plan to discontinue certain antimony shipments worldwide, we have been inundated with new antimony supply possibilities from countries around the world since we are the only operating smelter in North America. The issue has been the low concentrate levels of these potential new supplies as well as certain impurities that we, nor anyone else, could previously handle. With this Philipsburg facility now within our Company's portfolio, this problem has been resolved. U.S. Antimony is now uniquely positioned in North America like no other company."
New Critical Mineral Leases
On the exploration front, field crews initiated geological mapping of the high-grade cobalt, nickel, and bismuth mineralization on the "Iron Mask Project" located in the Sudbury District of Ontario, Canada. (See Press Release dated August 13, 2024.) On the recommendation of technical personnel, USAC has recently acquired, through staking, an additional 2,946 hectares (7,280 acres or 11.4 square miles) of mining claims in the Sudbury District of Ontario, Canada raising the land package now to a total of 4,687 hectares (11,582 acres or 44.7 square miles).
Exploration activities, acquisitions and development plans continue at the company both in Alaska and Canada, with the objective of achieving short-term increased production of antimony and other critical minerals from various sources, utilizing pre-concentration of various ores at source and shipment to the Contact Mill for upgrade.
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 Jonathan Miller, Vice President - IR E-Mail: [email protected] Phone: 406-606-4117
