SALT LAKE CITY, Aug. 5, 2014 (GLOBE NEWSWIRE) -- INCEPTION MINING INC. (OTCQB:IMII) ("Inception" or the "Company") is pleased to announce that it has entered into an Ore Processing Agreement (the "Agreement") with New Jersey Mill Joint Venture ("NJ Mill"), a new floatation mill capable of processing 360 metric tonnes per day located in Kellogg, Idaho, pursuant to which NJ Mill will process the Company's bulk samples. NJ Mill is jointly owned by New Jersey Mining Company (OTCQB:NJMC) and Crescent Silver, LLC, and is managed by New Jersey Mining Company.
NJ Mill reviewed the Company's metallurgical data prior to entering into the Agreement and the Company believes that NJ Mill's process is well suited for the Company's ore. Based on the floatation results, a joint decision will be made as to final processing of the concentrate.
The Company intends to commence an extensive resource delineation / confirmation program Midsummer 2014. The Company is seeking to expand the current NI 43-101 Technical Analysis to a full Reserve Confirmation. This program would consist of further bulk sampling, geological mapping (underground and surface), rehabilitation of the historical workings, a drilling program and assaying of newly identified targets.
Historical reports as well as numerous recent assay results indicate ore grades potentially exceeding 0.5 oz/ton Gold (Au) and recoverable amounts of Silver (Ag) are also contained in the exposed veins. If favorable results are returned from this program, the Company would then direct its efforts to the completion of a small underground mine plan in 2015.
About Inception Mining Inc.
We are a minerals resource company engaged in the acquisition, exploration, and development of primarily gold related properties. Our primary target properties are those that have been the subject of historical exploration having significant supporting data.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.
Inception Mining Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.