Atlas Mining Company Applies for Large Mine Permit at Dragon Mine
OSBURN, Idaho--(BUSINESS WIRE)--Atlas Mining Company (OTCBB:ALMI) is pleased to announce that the Company recently applied for a large mine permit through the State of Utah Department of Natural Resources, Division of Oil, Gas and Mining. The application is asking for the permit to mine approximately 100 acres of prior disturbed areas. Although the total permit will cover approximately 100 acres, it is the Company’s intent to limit disturbance by mining in phases each of approximately 20 acres or less. The mining will include underground mining of the know beds left by previous operators, and the reprocessing of surface waste material left from previous mining activities. According to President and CEO, Bill Jacobson, “Our previous permit limited us to a 5 acre disturbance, on which we were starting to push the limits. We want to make sure we follow the regulations, and this application will help us in that area and give us more freedom to operate.”
“Our previous permit limited us to a 5 acre disturbance, on which we were starting to push the limits. We want to make sure we follow the regulations, and this application will help us in that area and give us more freedom to operate.”
Mr. Jacobson further stated: “We have an extensive area of waste material on the property which supports no vegetation. We have done some sampling of these waste piles and have found the material to contain anywhere from 30% to 60% halloysite. With the processing improvements we are making, this material becomes a sellable commodity. By taking out the halloysite, we may even be left with material that may actually support vegetation. And that can only improve the area. And if we can increase our estimated mine life by doing this, all the better.”
About Atlas Mining Company: Atlas Mining Company is a diversified natural resource company with focus on the development of the Dragon Mine in Juab County, Utah, the only known commercial source of halloysite clay outside of New Zealand. The unique purity and quality of the Dragon mine halloysite is unmatched anywhere in the world and has spawned considerable research in the nanotechnology fields and has created exciting new applications for this product. Atlas also holds mining and timber interests in Northern Idaho, operates an underground mining contracting business, and holds interests in copper and gold properties in Newfoundland. Atlas stock trades on the OTC Bulletin Board under the symbol ``ALMI''. More information about Atlas Mining Company can be found at http://www.atlasmining.com.
Safe Harbor Statement: Except for the historical statements made herein, the statements made in this release are forward-looking statements. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. Atlas Mining Company undertakes no duty to update these forward-looking statements.
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