Business
INCEPTION MINING INC. Announces Second Quarter 2016 Gold Production
INCEPTION MINING INC. Announces Second Quarter 2016 Gold Production.
About this update from Blusky Ai, Inc.
[{"type":"text","content":"\n \n \n INCEPTION MINING INC. Announces Second Quarter 2016 Gold Production\n \n \nINCEPTION MINING INC. Announces Second Quarter 2016 Gold Production\n \n SALT LAKE CITY, UT--(Marketwired - Jul 13, 2016) - INCEPTION MINING INC. (OTCQB: IMII) (\"Inception\" or the \"Company\") announced today the results of its second quarter gold production at the Cerros Del Sur operation in Honduras, the principal operation of its wholly-owned subsidiary, Clavo Rico Ltd.\n Production for the second quarter, including the last gold doré processed during the last week of the month, was on target with the projected quarterly gold production rate of 1500 ounces. With higher than expected rain during the month of May, production remained consistent. Recognizing that rain is a factor in operating in Central America, the Company has embarked on measures designed to mitigate the effects anticipated for the major rainy season beginning in September. The Company feels fortunate to also benefit from the increase in gold prices. \n Clavo Rico Ltd.'s principal mining operations in Honduras, Central America operate via a majority-owned subsidiary with positive revenue and significant resources. Its mining concessions include several historical underground operations dating back to the early Mayan and Spanish occupation.\n The operating entity is engaged in processing a historical tailings body of less than three grams per ton, along with several open pit ore bodies of three to six grams per ton, utilizing a new 650,000-ton membrane-lined leach system and ADR recovery plant. \n The Company is now optimistic that owned and profiled reserves are sufficient to maximize the existing leach pad, generate revenues and support the planned exploration program with an expanded 43-101 reserve analysis. Our team plans to focus on bringing those new bodies to production within the next two years and plans to embark on a comprehensive mapping of the additional concessions.\n Reflecting on the recent developments, Michael Ahlin, the Company's CEO, stated, \"While historical data can be the basis for an acquisition, new data is necessary to confirm and boost confidence in the project. We are very pleased with the results of our operations to date.\"\n About INCEPTION MINING INC.\n We are a minerals resource company engaged in the production of prec...