RENO, NV--(Marketwire - January 11, 2011) - Itronics Inc. (
Itronics Metallurgical has made the first silver bullion shipment containing a substantial amount of silver recovered using the new FeLix leaching process. In mid-December the FeLix process achieved the targeted feed solids mass reduction of 85 percent. Implementation of the SuLix process which would further reduce the feed solids mass by recovering the sulfur is being deferred for now and the sulfur-bearing solids are being delivered directly to the refinery. The refinery processes are being adjusted for the characteristics of the new feed material.
The Company has completed integrating the FeLix process into its overall operations. The silver-bearing solids being produced by photoliquids processing are now being split, with a portion of the solids being used to continue the start up of the FeLix process and the balance going directly to the refinery. The amount of silver-bearing solids being fed to the process will be progressively increased in the first and second quarters of 2011.
There are still additional steps to implement in completing the start up of the FeLix operation, including integration of the new iron-bearing leach liquors into the fertilizer manufacturing processes. This work will be advanced in the first and second quarters of 2011.
"The technology milestone being achieved in the Stage I leaching circuit start up is both very exciting and profitable for the Company," said Dr. John Whitney, Itronics President. "We have successfully eliminated the silver refining capacity bottle neck and are already seeing the operational and financial benefits of this revolutionary new technology."
The Stage I expansion is expected to increase nominal silver refining capacity to 240,000 ounces per year by increasing the per melt capacity of the refining operation by 10 times. At current silver prices of $30.00 per troy ounce, annual silver bullion sales capacity would increase from $720,000 to $7.2 million.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Clean Technology" company. Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant in the United States that converts used photoliquids into pure silver and GOLD'n GRO liquid fertilizers. Through its subsidiary Whitney & Whitney, Inc., the Company is now providing project planning and technical services to its partially owned affiliate Auric Gold & Minerals on its Iron Oxide Copper Gold Fulstone Project and operates the popular InsideMetals.com web site, http://www.insidemetals.com, which provides a value-added WORLD VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral Stocks.
Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new environmentally clean recycling and fertilizer technologies.
The Company's environmentally friendly GOLD'n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available, along with liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com. The popular Silver Nevada Miner bars are available at the Company's "e-store" catalog at http://www.itromet.com.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
Contact Information:
Contact:
Paul Knopick
888-795-6336