SOURCE: Amalgamated Gold and Silver Inc.
MIAMI, FL--(Marketwired - March 04, 2014) - Amalgamated Gold and Silver Inc. (AGS) (PINKSHEETS: BCHS) today announced the result of their Geologists visit to Bolivia the week of the 16th to the 23rd of February 2014.
Dr. Chris Wilson, the Managing Director and Principal Geologist of Exploration Alliance was pleased with the results achieved at the St Anthony Mine of Turriri. A report will be submitted later this month to confirm findings.
Mr. Almero Bourbon, VP of Mining in Latin America was once again impressed with especially the Antimony mining potential in Bolivia. Bolivia is a country with vast untapped resources in the minor metals as well as the precious metals field. During the trip another Antimony mine asset that is in the process of being acquired was visited and the initial results shows massive potential, complementing the current investments going forward.
"The global antimony market is experiencing a major shake up with the imminent lowering of production out of China. Independent reports that the biggest Chinese Antimony producing areas are close to the end of life of mine and the closure of many high deleterious minerals containing Antimony mines throughout China is going to lead to the rapid increase in demand and value of one of the three most strategic resources in the world market, Antimony (http://www.mineweb.co.za/mineweb/content/en/mineweb-industrial-metals-minerals?oid=159773&sn=Detail&pid=151201) Prices in excess of USD25,000.00 per metric ton is a definite reality in the foreseeable future. That is the reason that executive management of AGS are seriously expanding their interests in this valuable minor metals asset, Antimony," says Mr. Almero Bourbon.
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.