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MarketScreener Homepage  >  Equities  >  OTC Markets  >  Itronics Inc.    ITRO


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Itronics : Provides Update on its Majority Owned Auric Fulstone Polymetallic Gold Exploration Project

07/14/2020 | 06:31am EDT

RENO, Nevada, July 14, 2020 /PRNewswire/ -- Itronics Inc. (OTC:ITRO), an emerging "Cleantech Materials" growth Company that manufactures GOLD'n GRO Multi-Nutrient Fertilizers and produces Silver, today reported that its subsidiary, Whitney & Whitney, Inc. is providing an update on the Auric Gold and Minerals, Inc. Fulstone polymetallic gold exploration project and its fit as a strategic strength for Itronics.

The Auric Fulstone Project has the potential to be a major Nevada epithermal gold system combined with an expansive Yerington District copper system. In combination with the gold and copper potential, geochemical tests confirm the strong presence of silver, zinc, lead, molybdenum, and iron. Fulstone represents an extremely strong polymetallic gold exploration target that is ready to drill.

Kitco recently stated that S&P Global reported: "During the last three years there were no major new gold discoveries." Keven Murphy, S&P Global Principal Research Analyst, stated further: "While there are plenty of gold assets to be developed, the lack of new major deposits being discovered means that the project pipeline is increasingly short of large, high quality assets needed to replace ageing major gold mines."

"Auric Fulstone is the type of advanced exploration target that has the characteristics of a new major gold deposit," stated John Key, President and COO of Auric Gold and Minerals, Inc. "Fulstone has significant gold potential but also represents a major silver, copper, zinc, lead, molybdenum, and iron target making it a true polymetallic gold target. Auric is committed to advancing Fulstone to the next stage."

Itronics is looking to capitalize on what the United States Geological Survey deems 'one of the giant copper porphyry-related metal camps of the world'. Tracking with this sentiment, Auric's Fulstone claims are prospective for an epithermal gold/silver deposit, in addition to porphyry copper and porphyry molybdenum deposits, and strata bound silver, zinc, and lead. Advanced stage exploration has been performed at Auric's Fulstone property which has returned strong metal values, confirming unusually high concentrations of gold, silver, copper, zinc, lead, molybdenum, and iron. The system was identified by field observation and work, including fault mapping, geochemistry, and geophysics and is ready for drilling.

The Auric Fulstone Project has the potential to be a major Nevada epithermal gold system combined with an "elephant" size Yerington District copper system. "Elephant" size deposits typical in this district would represent 500,000,000 tons of resource and would generate a mine life 50 years or longer.

Auric Gold and Minerals, Inc. has identified a tertiary epithermal gold system, which it is calling the "Golden Valley" prospect at its Fulstone property in the Yerington Copper District. Grid soil sampling has provided strong anomalous gold values over a strongly jointed and strongly discolored leach cap area. One sample returned a value of 0.4 Troy oz. gold per ton. These characteristics are the model for a typical Nevada tertiary epithermal gold system. The current known extent of the indicated gold anomaly is 4000 feet by 1000 feet and may be extended with additional sampling. IP/Resistivity Geophysics indicate potential mineralized depth of up to 2000 feet.

"A target this size could easily host more than 100 million tons of mineralized rock," said John Key.  "Drilling a target this size could be very productive and needs to be done. Fulstone currently does not have any NI 43-101 qualifying resources or reserves. We believe drilling the Golden Valley prospect could quickly change that."

Auric Gold and Minerals is a majority owned subsidiary of Itronics. Auric Fulstone is currently comprised of 2,800 acres of BLM claims. The property is strategically located within 15 miles of the 48-acre Itronics Cleantech Materials Campus north of Yerington, Nevada and is geologically situated at the intersection of two major faulting systems, both prolific producers. To date, 18,000+ feet of positive indicators have been accumulated using IP/Resistivity data acquisition. It is believed that several factors make Auric Fulstone a sleeping giant: 1) Auric Fulstone is the only true 'Polymetallic' in the Yerington copper district, 2) Auric Fulstone has been identified as a Nevada typical tertiary epithermal gold system target, 3) Auric Fulstone's extensive geophysical signature and strong geochemical profile in a very large land package, and 4) Itronics' Rock Kleen Technology may be applicable to process tailings, extract residual metals, and address end-of-mine issues.

Auric's personnel have extensive experience exploring the Walker Lane region, especially in western Nevada, including the acquisition, and advancement of the Borealis Mine by Whitney & Whitney Inc., a mining technical services firm and Itronics subsidiary, under the direction of Dr. John Whitney, President.

Dr. John Whitney, President, CEO and Director at Itronics, worked with the Northern Alaska Native Association for 14 years in the development of the Red Dog zinc mine, the largest zinc mine in the world. Dr. Whitney was also involved in the initial discovery, development, and start-up. He was also instrumental in the acquisition and advancement of the Borealis Mine. In his past career, he held the position of Geophysicist at CGG Ground Geophysics (Australia) Pty Ltd. and Geologist at The Humble Oil & Refining Co. He received a doctorate in Mineral Economics from The Pennsylvania State University and a M.S. in Minerology and an B.S. in Geology from the University of Nebraska. He founded Whitney & Whitney, Inc. in 1977, a mining technical services firm which participated in the development of more than ten successful mines, including the Red Dog mine, over a span of 20 years.

John Key is currently President and Chief Operating Officer at Auric Gold and Minerals, Inc. Mr. Key was an operational General Manager for Teck Cominco for 20 years. Mr. Key was General Manager of Red Dog Operations for 6 years and oversaw a $300 million expansion that doubled the output of the Red Dog Operations. Mr. Key was President and CEO of Gryphon Gold Corp. and oversaw the restart of the Borealis gold mine in 2011.

Itronics believes that Auric Fulstone represents more than just a traditional mining opportunity. "Auric Fulstone represents a strategic and complimentary project for Itronics. What makes this opportunity unique and timely is that Itronics has several decades of collective and extensive mining development and operational experience, coupled with successful development of several clean technology processes for extracting metals and minerals from industrial waste streams. Cleantech methods can eliminate waste during the various mining stages," according to Dr. Whitney.

"Itronics has both the technology and expertise to change how mining operations are conceived and undertaken. No longer are we forced to accept the old standard of the 'Extraction-to-Tailings' problem, where tailings and tailings dams become long term environmental challenges. Itronics believes its breakthrough 'Rock Kleen' Technology can process 'spent tailings' and extract residual metals and minerals, potentially resulting in 100% use of the resource; this is a potential revolutionary game changer," Dr, Whitney said.

Of strategic importance is the Itronics Cleantech Materials Campus. This Campus is slated to be used to support development of the Auric Fulstone project, as well as serve as the main manufacturing facilities for the Company's GOLD'n GRO Multi-Nutrient Fertilizers, Silver Bullion Production, mineral cleaning, and multiple metallurgical business lines.

Auric is positioned to capitalize on Itronics Zero Waste Energy Saving Technologies, which will be instrumental in the design and development of any project at Fulstone (or essentially any mine). Itronics Cleantech philosophy targets 100% beneficial use of a given resource, while at the same time, minimizing energy consumption and improving the environment.

Itronics and Auric are positioned to answer the call of environmentally conscious mining companies, investment funds, and individual investors who demand a more thoughtful approach to metal and mineral extraction and recovery. Itronics believes that its approach to cleantech mining will benefit shareholders and stakeholders alike, not only in terms of a clean approach, but also a profitable one.

About Itronics

Headquartered in Reno, Nevada, Itronics Inc. is an emerging Cleantech Growth Company that uses proprietary multi-nutrient fertilizer manufacturing technologies to produce GOLD'n GRO multi-nutrient fertilizers and breakthrough Zero Waste Technologies to recover fertilizer ingredients, silver bullion, and silver-bearing glass from waste streams that contain silver, gold, copper, zinc, tin, and other metals.  The Company's goal is to achieve profitable green technology driven organic growth in specialty GOLD'n GRO fertilizers, silver, zinc, and minerals. The Company's technologies maximize the recovery and uses of metals and minerals and by doing this maximize sustainability.

The Company's environmentally friendly award winning GOLD'n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available at the Company's "e-store" on Amazon.Com at http://www.amazon.com/s/ref=bl_sr_lawn-garden?ie+UTF8&field-brandtextbin=GOLD%27n+GRO&node+2972638011. Due to expanded retail customer interest, GOLD'n GRO fertilizer may now be purchased in Reno, Nevada at "Buy Nevada First Gift Shop", 4001 S. Virginia St. 

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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.)

John Key
(775) 689-7666


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SOURCE Itronics (ITRO)

© PRNewswire 2020
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