HENDERSON, Nev.--(BUSINESS WIRE)--Ireland Inc. (OTCBB: IRLD) today announced that the Company will file its first quarter results on Form 10-Q after the market closes on May 15th, 2014. Management will host its next investor conference call before the end of June, which will include an update on results of its gold and silver extraction circuit and ongoing onsite equipment tests (leach circuit and high temperature pre-treatment) currently underway.
Leach Circuit Testing
As previously discussed, the Company is testing its pilot plant to determine the effectiveness of minor changes recently made to the on-site equipment, with the goal of achieving extraction of 0.03 ounces of gold per ton (“opt Au”) of material processed.
- The Company has commenced leaching under the on-site direction of AuRIC Metallurgical Laboratories (AuRIC).
- AuRIC is also continuing to analyze the effectiveness of these and other adjustments using laboratory scale tests.
High Temperature Pre-treatment Testing
- Based on successful results achieved during bench tests using a high temperature pre-treatment process on small samples (5g to 60g), the Company has acquired, and is installing, new equipment that will allow it to complete additional tests using similar high temperature pre-treatment procedures on larger samples (up to 2,000 grams in size).
- The earlier small-scale tests resulted in higher gold extraction rates (>0.04 opt Au). However, it is not yet known if these improved results can be consistently replicated because they were derived from small sample sizes. The source material for these tests was taken primarily from only two areas and thus results cannot be extrapolated to the wider Columbus Project Area.
- Operating parameters of the new equipment are currently being determined.
- Concurrently, independent assayers have begun to re-assay the North Sand Zone drill holes using the new high temperature treatment assay procedure, in order to determine if a head grade higher than originally reported is present.
About Ireland Inc.
Based in Henderson, Nevada, Ireland Inc. (www.irelandminerals.com) is a minerals exploration and development company that targets properties containing large-scale deposits of precious metals in the southwestern United States. Ireland is currently involved with two mining projects, both of which are prospective for gold and silver. In early 2008, Ireland completed the acquisition of the Columbus Project located in Esmeralda County, NV, near Tonopah, where it also has an option to acquire additional adjacent mineral claims. Ireland also owns rights to acquire up to 100% of the Red Mountain Project in San Bernardino County, California.
This document may include statements that constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect,” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, Ireland’s limited operating history, future trends in mineral prices, the availability of capital, geological or mechanical difficulties affecting Ireland’s planned geological work programs, and uncertainties surrounding estimates of mineralized material. Extraction rates and mineralization grades from test results on individual samples may not be representative of extraction rates or grades that can be obtained from other samples or from commercial scale extraction efforts. Additional exploration work will be required to fully define the extent of the Columbus Project’s mineralized areas and before proved or probable mineral reserves can be established. There is no assurance that the results of Ireland’s exploration of pre-feasibility programs will result in a decision to enter into commercial production. Ireland undertakes no obligation to update the forward looking statements in this document.
This release may also refer to resource estimates. The US Securities and Exchange Commission (the “SEC”) does not normally permit issuers to disclose resource estimates in their filings with the SEC. SEC guidelines normally permit only the disclosure of “reserve” estimates, which are those parts of a mineral deposit that could be economically and legally extracted or produced at the time the estimate is made. Inferred resource estimates generally may not be used as the basis for pre-feasibility or feasibility studies. There are no assurances that any resource estimates can be economically or legally extracted or produced or that any of these resource estimates will ever be converted to reserves. There are also no assurances that any inferred resource estimates will be converted into indicated or measured resources. The mineralization estimates provided in this release are based on internal calculations and have not been independently confirmed.
Investors are advised to carefully review the reports and documents that Ireland Inc. files from time to time with the SEC, particularly its Annual, Quarterly and Current Reports.