LAS VEGAS, Aug. 6, 2014 /PRNewswire/ — Amarium Technologies, Inc., (OTC: AMMG) through it's wholly owned subsidiary Amarium Minerals Inc., reports the commencement of the ore extraction program at the recently acquired El Desvan Cobre mine. El Desvan is located in the Mexican state of Michoacan, within close proximity to both the Company's producing copper mines, San Pedro and La Jovita.
The program has begun limited mining operations at El Desvan by extracting and trucking up to 200 tons of ore daily to supplement production at the San Pedro Mill in the short-term. The San Pedro property is currently undergoing its own exploration program.
"The acquisition of El Desvan gives the Company another option for ore supply in both the near and long-term. We have now begun extracting ore to supplement production at the San Pedro mill. With the existing production rates averaging 120 tons daily at San Pedro, the additional supply from El Desvan will allow production to increase to 300 tons per day. This will better utilize the existing capital investment in plant and equipment and allow for improved efficiencies and economies of scale, resulting in lower production costs per ton," says Adam Carter, the President and CEO of Amarium. "More importantly, it will allow us to concurrently mine on the San Pedro property, while submitting ore for bulk sampling and testing and to increase daily throughput with no disruptions to production."
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
For additional information, please visit: http://www.amariumminerals.com.
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Amarium Technologies, Inc.'s current expectations and projections about future events, based on information currently available.
The forward-looking statements found in this press release may also include statements relating to Amarium Technologies, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Amarium Technologies, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Amarium Technologies, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Contacts:
Amarium Technologies Inc.
Investor Relations, 800-611-6584
SOURCE Amarium Technologies Inc.
/Web site: http://www.amariumminerals.com
