HASBROUCK HEIGHTS, N.J. / February 3rd, 2014 / ACCESSWIRE / All Grade Mining (OTCQB: HYII), a development-stage company focused on the extraction of copper, today announced that the Company has applied for a new stake of claim for its Plateada mining concessions encompassing additional property and bringing the total square area of the project to 300 hectares.
The Company’s new stake of claim will more than triple the size of its its Plateada Copper Sulfide Project, originally 90 hectares and located approximately 55 kms southeast of Ovalle, Chile in the commune of Combarbala. The action was recommended by Ambiental Chile, SA, which All Grade Mining recently contracted for its expertise in mine engineering, compliance and permitting.
Ambiental Chile, SA cites two primary reasons for seeking to expand Plateada that the company believes will increase the project’s value. The company states the easement to the road covered by this additional square area will eliminate any possibility of having common use of the area’s infrastructure that was created at the expense of the operations prior to All Grade Mining’s acquisition of the mine.
Secondly, Ambiental Chile claims this additional land will allow safe distance and enough square area for the Company’s future plans to install a proprietary concentration plant. Additionally, the previous explorations claims filed by prior prospectors for Plateada have expired.
“All Grade believes that by ensuring the sole use of Plateada’s infrastructure and allowing for the installation of our own concentration plant in the future, we are greatly increasing the intrinsic value of this copper sulfide project for the company and its shareholders. Based on Ambiental Chile’s expert advice, significantly expanding the area of our Plateada property through a new stake of claim will accomplish these goals and we will work very closely with them throughout theprocess to ensure this project’s success,” commented CEO of All Grade Mining, Gary Kouletas.
The Company anticipates completing the “mensura” process and submitting its exploration plan within the next 6 months. Following the successful completion of these steps, All Grade Mining can then be issues a constitutive sentence (irrevocable stake of claim) for its Plateada project. Ambiental Chile estimates this process will occur in tandem with the commencement of production at the site.
About All Grade Mining, Inc. All Grade Mining is a development-stage company whose mission is to acquire mining concessions in all phases, all sizes and all minerals. The Company is currently focused on the extraction of copper in South America, primarily in Chile and has established an experienced team of executives and mining professionals to lead its exploration and excavation efforts. For more information please visit: http://www.AllGradeMining.com.
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This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: All Grade Mining