SCOTTSDALE, Ariz., Aug. 12, 2014 /PRNewswire/ -- Intertech
Solutions Inc. (OTCPK: ITEC) ("Intertech Solutions Inc.,"
"ITEC" or the "Company") today is very pleased to report that the
Company has received the first results from its metallurgical
study, being implemented as part of the recommendations of the
recently announced technical report on the WPE Project in
Arizona.
The ongoing metallurgical studies involve the processing and
analysis of two 1,000 pound bulk samples sent to two separate
facilities for gold analysis. The studies involve gold
characterization and liberation analysis with the objective of the
work being to characterize the gold occurrences within the sample
in terms of specific mineral associations and liberation
size.
The results of the first round of testing are that gold was
recovered from various fractions of the ore having an overall grade
of 5.733 grams per ton (0.170 ounces per ton). This grade is
significant as it falls directly between our Phase 2 program
results of 4.556 grams per ton (0.135 opt) cut to one ounce, and
9.974 grams per ton (0.296 opt) uncut. The Company is now confident
that the expected overall final grade of the deposit will fall
somewhere in this range and that a minimum 5 gram per ton deposit
is present.
The results to date based on the inferred mineral resource
calculated under the classification of N.I. 43-101 of 2,437,500
tons, represent 414,375 inferred ounces.
We have also begun to receive results from the second
metallurgical test, being undertaken by a Denver based testing facility. The ore
processing, screening and separation analysis has shown that the
gold is easily recovered from simple gravity separation, and that
we can expect over 90% of the gold to be recovered in this fashion.
Both the coarse and fine gold are thus recoverable by the
processing method envisioned by the Company's technical group and
that it has validated the plant design which will ensure a low
cost, high net profit return of the operation.
Intertech is also now projecting, based on 500 ton per day
operating tonnage, that 2,550 ounces a month may be produced at a
value of $220 per ton costing
$30 per ton to produce or
$190 per ton net profit. If this is
achieved, a monthly gross margin of $2,700,000 is possible.
We expect further results from the ongoing studies and will
announce the results as soon as they are available.
The WPE Claims #1-#4 claims are located in the Middlecamp Mining
District in La Paz County, near
Quartzite Arizona. The gold claims cover a total of 80
contiguous acres and have easy access between Phoenix and Palm
Springs, CA along Interstate 10.
About Intertech Solutions Inc. (OTCPK: ITEC)
Intertech Solutions is a fully integrated, gold project finance,
management and services consulting Company that provides
development capital, engineering, project supervision and technical
management to gold projects. The Company operates from its offices
in Scottsdale, Arizona. Visit us
at: www.itecgold.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
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.
Such forward-looking statements include, among other things, scope
and type of consulting services provided by ITEC, use of proceeds,
future acquisitions, success of projects, growth and strategic
plans. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
petroleum exploration and development stage exploration companies.
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 the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that 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 on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Intertech Solutions Inc.
Robert
McIntosh
President, C.E.O.
To find out more about Intertech Solutions Inc. (OTCPK: ITEC),
visit our website at www.itecgold.com.
Investor Relations:
+1-480-296-2065
investors@Intertechsolutionsinc.com
SOURCE Intertech Solutions Inc.