United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported the start up of the Los Juarez antimony/silver/gold property. Preliminary progress reports have been cautiously delayed due to surface mapping, analytic procedures and protocol, property acquisition, permitting, mining evaluation, trucking negotiations, mill preparations, mill feed grade determinations, mill evaluation and recovery, and smelting considerations. Although these results are preliminary, the Company believes there are no fatal flaws but cautions that many improvements will be made as operations ramp up.
Detailed mapping and surface sampling has delineated jasperoid mineralization over an essentially east-west strike length of 3.5 kilometers with a maximum width of 1 kilometer. All known previous work by Penoles, FIFOMI (a Mexican Government loan agency for miners), Consejo de Recursos Minerales (the Mexican Government Geological survey), and a third party company has been compiled and includes all the USAC mapping and sampling. The jasperoid zones are surrounded by limestone. The predominance of the mineralization is in the jasperoid, but additional mineralization has been sampled in the limestone. With the exception of weathered outcrops, the mineralization is all sulfide and will respond to flotation. The silver and gold is associated with antimony with minor amounts of the silver-gold signature elements. Originally management believed that the amount of silver and gold was related to the antimony content but have found that silver and gold is also with lower amounts of antimony. Surface outcrops have assayed as high as 46.6 ounces per metric ton (opt) silver, 0.4 opt gold, and 17.0% antimony although the average grade is much lower. Preliminary exploration indicates that this could be a deep-seated type of jasperoid and not a “manto” or layered deposit with a thickness of 5 meters as reported in Mexican literature. Two outlier jasperoid outcrops were found, one more than 2 kilometers to the south and one 1 kilometer to the north. USAC claims no proven or probable reserves at Los Juarez.