SOURCE: Amalgamated Gold and Silver Inc.

January 23, 2015 23:45 ET

Amalgamated Gold and Silver Inc. Reports Exciting Results on the Geologist's Visit to the St Anthony Mine in Bolivia

MIAMI, FL--(Marketwired - January 23, 2015) - Amalgamated Gold and Silver Inc. (AGS) (OTC PINK: BCHS) today announced further results of their Geologist's visits to Bolivia and their St Anthony of Turiri mine.

To deliver value to shareholders a well-known Bolivian Geologist Mr. Hernan Uribe, who has extensive knowledge of the San Antonio de Turiri mine and the surrounding areas was contracted to do a comprehensive evaluation. Mr. Uribe's CV has been posted on the company website.

Hernan's preliminary report has elicited exciting news for AGS as samples of the 1995 geological survey was found in the possession of the original geologist and this served to confirm the findings of 1995 study and the proven and projected reserves. Mr. Uribe's visit to the site further confirmed that this is an exciting property and all the anomalies he detected further verified his projection that this is a world-class reserve.

Preliminary samples collected during the site visit have yielded results of Antimony content of 68.75%. (Please see the SGS report on the company website) "This particular sample was pure Stibnite in excess of 10 kg in weight and was an exciting and promising find and clearly outlines the excellent ore values to be found in the mine", said Mr. Almero Bourbon, VP of Mining, LATAM for AGS.

What is more exciting though is that Mr. Uribe has comprehensively surveyed the tailings and waste dumps on site and the conclusion is that four of the tailings dumps all show high grades of mineralization that should be exploited without delay. At the current value of Antimony the exploitation and processing of Antimony from the dumps based on the quantities surveyed would yield revenue of approximately 3 Million USD to the company.

"According to Mr. Uribe and based on the confirmation of the historic reserves as well as the potential identified in more discovered anomalies and the excellent results obtained from the tailings dumps, the St Anthony of Turiri mine has the potential to be a world class antimony mine. Mr. Uribe recommends the reopening of the historic adits and the continuation of the development of a new side adit should commence immediately", said 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.

Contact Information

  • Amalgamated Gold and Silver Inc.
    80 SW 8 Street, Suite 2000
    Miami Florida 31330 USA