Today before the opening bell, Tri-Star Holdings announced that the company has planned out its order of mining operations to advantageously and cost-effectively expand its metals recovery efforts in Arizona, Nevada and Idaho. The company also stated that representatives have successfully refined gold from its 25 acre gold mine claim on the Hassayampa River with small-scale processing equipment. Operations will continue to be expanded at the Wickenburg claim until full-scale production is reached.
The initial small-scale operations will continue to be established at the COS #1, and Cos #2 claims and then the Lucky Linda #1 claim in Nevada. According to CEO Anthony Mellone, the Company’s Board of Directors and Chief Geologist agree that it is in the best interest of the company and its shareholders to progress in this order to maximize profitability. They believe the Wickenburg site’s ease of accessibility will produce the most immediately profitable revenues for the company.
Additionally, company representatives discussed the progress made with third party recovery operators. They also discussed a possible processing arrangement utilizing their new technology and state-of-the-art recovery plant in Phoenix, which is known to recover as much as 99.9% of all the precious metals content. The company also stated that additional ore samples have been delivered to the Phoenix facility for additional testing to confirm the per ton percentages of gold, silver and platinum contained and recoverable.
The press release went on to announce that workable placer mine sites were identified on the property, with additional gold located in various areas around the property. Mining engineer Robert Chastain will be training new crew members today to efficiently operate the placer equipment for higher yields and increased capacity. Tri-Star management anticipates generating revenues from the Wickenburg operation by next week. The company plans to utilize a similar operation model at COS #1 then COS #2 after a standalone operation has been fully established.
“By the time COS #1 and #2 are nearing full operations and generating revenues, all our requirements with the Burearu of Land Management (BLM) and State of Nevada Environmental Division should be satisfied to the degree that operations can be established at our Nevada mine, Lucky Linda. Also, our systems shall be in order such that we can efficiently and systematically install the necessary infrastructure cost-effectively and swiftly,” said CEO Anthony Mellone.
He continued, “I said I was not going home until I found gold, and while our operations this week are just the beginning, we have continued to meet our goals here in Wickenburg while establishing an order of operations to maximize our assets with sensible expectations over a realistic time line.”
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