Sat, 16 Jan 2021

THOMPSON FALLS, MT / ACCESSWIRE / November 30, 2020 / United States Antimony Corporation (NYSE American:UAMY Announces Operation Update)

LOS JUAREZ MINE PRELIMINARY DRILL PROGRAM: US Antimony Corporation has the completed a reverse-circulation drilling program at its Los Juarez Gold, Silver, and Antimony Mine in the state of Queretaro, Mexico. Funding for this program was obtained via a stock placement in July of 2020 after the company announced it would be forestalling its antimony production due to lower pricing and a simultaneous increase in the price of precious metals.

The program began on the October 26th and was completed November 26th. Twenty-five holes totaling 1,091 meters were drilled. Holes were sampled at 5-foot intervals. US Antimony contracted a geologist in Mexico, who supervised the sampling and took custody of one-quarter splits of the samples prior to them being sent to ALS, a certified lab. The drill program was supervised by Russell Lawrence and Heriberto Torres. While the majority of holes were drilled in proximity to the Reynaldo and Minas Grande pits (see map), several targets further away were drilled, such as the San Juan area, Puerta de Oro area, and one in the town of Los Juarez, 2 kms away. As can be seen on the map, the regional trend of mineralization is NW-SE, with several holes collared to drill perpendicular to this trend. The selection of the drill hole locations was made based on previous rock-chip sampling, channel sampling, shallow drill samples, some limited mining that was performed by the company, as well as mapped geologic trends including fault zones and areas of surface mineralization (in red on map). Surface mineralization areas shown on the map represent continuous to semi-continuous jasperoid.

The samples were delivered to the ALS lab in on the 21st of November, 2020. The samples will be tested for a suite of elements including gold, silver, and antimony. The lab will be reporting the assay results as they become available, but the final results may not be completed for two months.

PUERTO BLANCO MILL STATUS: 2,000 tons of ore from the Los Juarez Mine have been delivered to the mill at Puerto Blanco. This ore is stockpiled for processing while the company focusses on treating existing flotation tailings utilizing the cyanide leach circuit. In order to operate at full capacity this circuit needs a few additional pieces of equipment such as 2 leach tanks and some modifications to its thickener. 14 cyanide leach test batches have been run to date on Los Juarez ore. To save money and aid in optimizing processing techniques, a return feed conveyor from the flotation tailings pond back to the cyanide leach circuit has been installed. This feed has the advantage of having already been crushed and milled. A second round of sampling of these tailings is being performed to confirm its precious metals content. It is estimated that there are at least 20,000 tons of this feed available for processing.

MADERO SMELTER STATUS: The company has made a 78% reduction to its labor force in August due to the drop in antimony prices. The company has retained its key personnel and all smelting infrastructure and capacity. Meanwhile, the caustic leach plant has been processing flotation concentrates from the Puerto Blanco facility. A re-negotiation of the Wadley supply contract will eliminate excess personnel and infrastructure. The vision for the smelter is to offer processing of antimony rather than to be engaging in the supervision, maintenance, and associated costs of the mining of antimony.

MONTANA STATUS: Minus feed from our Mexican operations, the Thompson Falls smelter is running with reduced staff to process the feed from our Canadian source. Antimony oxide sales continue, albeit at about half of what they have been for the last few years, however, those sales being made are profitable.

Our antimony trisulfide project with the DLA (DOD) has been stalled due to COVID-19. The DLA offices, and the Picatinny, NJ Arsenal where the antimony trisulfide is tested have both been closed since March 2020. The lab at the Picatinny Arsenal has just re-opened and testing will resume.

BEAR RIVER ZEOLITE STATUS: Many meat packing plants were temporarily closed causing supply chain disruptions in the cattle and poultry industries and therefore there was a major decrease in the production of animal feed. The meat packing business is now running close to normal. Volumes will return to pre-COVID levels in the coming months.

Reverse-Circulation rig drilling at 75-degree angle (Hole # 5 on 31st Oct 2020)

Gustavo Galvez getting rock-chip samples at bottom of old shaft 30 Oct 2020

Contact:

United States Antimony Corp.
PO Box 643; 47 Cox Gulch Rd.
Thompson Falls, MT 59873
406.827.3523
406-827-3543 Fax
Russ Lawrence
Hbar_1999@yahoo.com

SOURCE: United States Antimony Corporation



View source version on accesswire.com:
https://www.accesswire.com/618609/US-Antimony-Announces-Completion-of-Initial-Drill-Program-at-the-Los-Juarez-Gold-Silver-and-Antimony-Mine

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