SOURCE: Amalgamated Gold and Silver Inc.
MIAMI, FL--(Marketwired - May 23, 2014) - Amalgamated Gold and Silver Inc. (AGS) (PINKSHEETS: BCHS)
The company would like to inform you of its progress on the Letters of Intent (LOI's) and various announcements made January through March, 2014.
Amalgamated Gold and Silver Inc. (BCHS) Signs Letter of Intent (LOI) On ULEXITE Asset
Jan 14, 2014 -- Amalgamated Gold and Silver Inc. (AGS) announced it has signed an LOI with EEPL proprietary, a Bolivian entity, to acquire a 51% controlling interest in the Ulexite Calcination plant in Oruro, Bolivia.
The company, after thorough due-diligence, found the costs to initiate the project three times higher than what was originally presented by the seller and therefore has elected not to proceed with the joint venture.
Amalgamated Gold and Silver Inc. Signs Letter of Intent (LOI).
Jan. 30, 2014 -- Amalgamated Gold and Silver Inc. (AGS) announced the signing of an LOI to joint venture and or/acquire the La Bonanza Concession located in Nayarit, Mexico.
While the results of the site visit and assay results from samples taken were positive, due to the location and elevation of the mine the company has decided that the initial costs for 6 kilometer access road and subsequent drilling program are prohibitive. At this time the company will not conclude this joint venture or acquisition. This concession, if available, will be revisited in the future.
Amalgamated Gold and Silver Inc. Confirms the Imminent Production of Antimony Ore from their St Anthony Mine in Bolivia.
Feb.4, 2014 -- Amalgamated Gold and Silver Inc. (AGS) announced it has confirmed the imminent production of Antimony Ore from its St Anthony Mine in Turiri Bolivia.
As a result of the recent mine site visit and subsequent reports, the company has decided that an open pit mining operation will be the most effective and economical for the long term. Local geologist Hernan Uribe has been retained to produce an open pit mining plan and projections for production. This will include the evaluation of a new adit recently opened which appears will intersect the main proven ore bodies of the Gamma, Alpha and possibly the Beta veins.
The company is actively engaged in the reopening of the San Antonio de Turiri mine and has deployed local Hernan Uribe and his associates to the mine site. Mr. Uribe's report and recommendations are expected the latter part of this month. Further information of the ongoing work at the mine will be published as it develops.
Amalgamated Gold and Silver Inc. Signs Memorandum of Understanding (MOU).
Feb. 5, 2014 -- Amalgamated Gold and Silver Inc. (AGS) announced it has signed a MOU to acquire the Huajara Polymetalic Processing Plant in Oruro Bolivia.
After inspection of the facility and due-diligence on the contracts for processing, the company has elected not to proceed with this acquisition having been unable to verify the contracts for processing from any of the company's as represented by the seller. In the event of confirmable contracts being made available, this project will be revisited.
The company thanks you for your interest and continued support.
Amalgamated Gold and Silver Inc.