LIMA, Peru & PARAMARIBO, Suriname--(BUSINESS WIRE)--The Graystone Company (OTC: GYST) announced today that the Company’s mining operations generated approximately 725 grams of gold so far for the month of June 2014. This update covers the time period of June 1, 2014 through June 22, 2014. The company has 7 days of production remaining for the month. Currently, the company’s best production month is May 2014, (807 grams).
The company also announced today that its joint venture partner, Arara Mining, has entered into a 3 year prospecting contract with the JV’s current claim owner securing the rights to identify and bulk sample targets on their claims covering 14,000-acres.
Additionally, the joint venture has hired a local minerals drilling company to conduct a 30-day drilling campaign during the month of July 2014. The companies’ Brazilian Geologist will supervise this campaign. This agreement covers expanding the testing it has already completed at its current mining camps and testing areas that have been prospected recently on the same claim.
“We have identified areas of interest on the claim and have decided to make the investment in drilling these areas versus starting a new mining site with no scientific data,” stated Graystone CEO, Paul Howarth. “Our increased revenue has enabled us to spend additional capital in our prospecting division,” states Arara mining director, Lesley Kort. Mr. Kort is in charge of mining operations for the JV in Suriname, South America.
The Company’s copper project in Peru is on schedule to initiate campaign #2 during the first week of July 2014. The company is currently analyzing its drilling results conducted during campaign #1 to identify an area of the mine with a higher copper concentration and sufficient volume. We also anticipate continuing in the area of the mine used to complete the profitable campaign #1.
The company has uploaded new pictures and video of its gold sites, gold refining and copper processing on its flicker page and Facebook page. We will add additional material as time permits.
About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any 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.