Graystone Company Announces February 2015 Gold Production Update and Copper Results.
Lima, Peru; Paramaribo, Suriname; Las Vegas, Nv. February 23, 2015
The Graystone Company (OTC Pinks-Current: GYST) announced today that the Company’s mining operations have generated approximately 732 grams of gold through February 21, 2015. The company is averaging approximately 1/4 Kg. of Gold per week during the month of February 2015. This is an increase over previous months Gold production.
The company is estimating its total gold production for the month of February 2015 will exceed 900g with the possibility of breaking the 1Kg. mark or 1000g for the month.
One of our Gold producing sites is following Gold rich areas that were identified in drill samples taken in the 4th quarter of 2014. The company feels this is the reason for the recent increase in production.
The company is also noting that the “pay dirt” is increasing in gold concentration as the company explores deeper. Should this trend continue, the company could see even further gains in production.
The company also announced that it is testing a vein system that is located on one of its sites. So far samples taken from the site are showing signs of Gold and further exploration is warranted.
Based on weaker than expected exploration results on one of it’s Peru Gold claims, the company has decided not renew one of it’s Gold claims in Peru for the 2015-2016 renewal period. The company will continue to explore the 800 HA on two other claims it owns the rights to in Peru and bulk sampling will continue. These two claims are up for renewal in June 2015.
Because of positive exploration results at a new site in Suriname, the company, through its joint venture partner, Arara Mining, has decided to sign a new 2-year exploration contract with the sites claim owner. This site has been named Suriname 4.
The Graystone Company CEO will be on site in March, 2015 to conduct exploration and sampling at this new site.
Peru Copper Update:
Campaign # 4 was completed on February 5, 2015 with the following results:
The company processed 227 tons of copper/gold ore at a gross cost of $157.33 per ton.
Grupo Mineral Inca, SAC sold the copper concentrate equaling $201.00 per ton of raw ore.
The company will upload the copper processing results when they become available.
Because of the current lows in the copper price, the company has decided to selectively make bulk ore purchases when “deep discount” purchase opportunities arise. Local Copper producers are sitting on ore supplies holding out for higher prices. But when their operational cash flows diminish, the opportunity arises to make large bulk ore purchases at steep discounts. The company has hired 3 regional scouts to identify such opportunities.
The company will stockpile the ore until prices rise enabling the company to maximize margins.
The Peruvian government has announced that they are considering changing their ore transportation permits sometime around March, 2015 in an effort to enforce their new laws regarding Illegal or “informal mining.” The companies law firm is currently unsure how the changes in the law and permit requirements will effect Legal or “Formal Miners” such as Grupo Mineral Inca, SAC. The company will comply with any and all changes in the Mining laws of Peru.
Pictures and videos of the copper campaigns can be found at www.graystone1.com
Or on the companies flicker page: https://www.flickr.com/photos/68047029@N04/
Or youtube channel: http://www.graystone1.com/our-videos-2
Or facebook: https://www.facebook.com/pages/The-Graystone-Company-Inc/244666725585694
About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
Notice Regarding Forward-Looking Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report for the most recent fiscal year, our quarterly reports and other periodic reports filed from time-to-time with the Securities and Exchange Commission and or otcmarkets.com
The Graystone Company is a Jr. mining and exploration company. The company is currently in production, although limited, and continues to produce through bulk sampling and exploration. The company has limited resources, which limits its ability to conduct extensive sampling and exploration activities.
Please contact your licensed investment advisor before purchasing any stock or making any type of investment.
This press release may also contain or refer to forward-looking information under SEC securities legislation and may include statements regarding the estimation of mineral resources, exploration results, potential mineralization, and exploration and mine development plans, and is based on current expectations that involve a number of business risks and uncertainties. Forward- looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Contacts:
The Graystone Company, Inc.
Alfred Mendoza
(702) 289-4827
info@graystonegold.com