July 3, 2017. Thompson Falls, Montana. United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported that following the milling of 400 metric tons of Los Juarez gold/silver/antimony at the Puerto Blanco mill in Guanajuato, Mexico that it will proceed with the cyanide circuit to increase the recoveries of both the silver and gold from the flotation mill tailings. Initial results of the floatation assays without the cyanide circuit are as follows:
Item | Gold | Silver | Antimony |
Heads | 0.035 opmt | 3.27 opmt | 0.652% |
Tails | 0.016 opmt | 1.618 opmt | 0.348% |
Recovered grade | 0.019 opmt | 1.65 opmt | 0.17% |
% recovery | 52.8% | 49.6% | 31.5 |
(opmt = ounces per metric ton)
The flotation concentrate contained 2.52 opmt gold, 496.4 opmt silver, and 52.0% antimony. The floatation concentrates will be processed by the caustic leach circuit which is operational.
Cyanide testing of the mill tailings has indicated excellent recoveries, and the antimony recovery has been on the order of 70% at lower depths. The estimated recovery of the values after the caustic leach and cyanide circuit of the tailings is as follows:
Metal | Assay | Recovery | Value | Value /mt |
Gold | 0.035 opmt | 90% | $1,250/oz | $39.38 |
Silver | 3.27 opmt | 90% | $16.50/oz | $48.56 |
Antimony | 0.652% | 70% | $3.90/lb | $39.12 |
Total |
|
|
| $127.06 |
Construction of the cyanide leach circuit for the Puerto Blanco mill tailings will begin when the permit is approved by SEMARNAT (Mexican equivalent of the EPA). Tentatively, the plan is to leach in Mexico and handle the second part of the process in Montana which is expected to cut Capex costs significantly, reduce operating costs, and expedite the start of the circuit.
Following are the sales estimates for Q2 2017 compared to Q2 2016:
Product | Q2 2017 | Q2 2016 | % change |
Antimony pounds | 505,760 | 732,802 | -31.0 |
Zeolite tons | 3,352 | 4,218 | -20.5 |
Silver ounces | 17,552.32 | 29,219.25 | -39.9 |
Gold ounces | 61.1552 | 76.09 | -19.62 |
At the end of April 2017, the average Rotterdam price of Grade I antimony metal per metric ton was $8,850 ($4.014 per pound), and by the end of June, the price had decreased to $8,606 ($3.90 per pound), a decrease of 3.5%. All Mexican antimony is now being shipped to Montana due to the higher sales price of antimony oxide. Zeolite sales were higher in Q2 2016 due to a large sale of zeolite to a Canadian Mining firm. Due to auditing, the journal entries of precious metal revenue were adjusted down during Q1 2017.
At the Wadley deposit in San Luis Potosi Mexico, underground miners have been increased to 90 men. Plans are underway to reopen the Guadalupe deposit in Zacatecas, Mexico. Mexican production is being increased to compensate for the reduction of Australian concentrate processing.
The Company has posted a Face book page for United States Antimony and another for Bear River Zeolite and has already seen significant activity.
CEO John Lawrence said “We are excited about the Los Juarez gold, silver, and antimony estimated recovered values of $127.06 per metric ton during the recent milling campaign. Completing the process in Montana will reduce Capex and expedite the start of the project. Mexican antimony production and BRZ zeolite sales are anticipated to increase to provide cash flow for the leach plant.”
Original Article: http://www.usantimony.com/2017_newsroom.htm#U._S._ANTIMONY_REPORTS_LOS_JUAREZ_PRODUCTION_PLANS
