Iberian Minerals Ltd.: Mineworx to Commence Commercial Gold Production in Arizona
EDMONTON, ALBERTA--(Marketwired - May 26, 2016) - Iberian Minerals Ltd. (the "Company" or "Iberian") (TSX VENTURE:IML)(OTCQB:SLDRF) announced today that its 100% wholly owned subsidiary, Mineworx USA Inc. has signed an Agreement with Vulture Peak Gold Inc. (VPG), who are currently operating a hard rock gold processing plant on location. The historic gold property is approximately 275 contiguous acres and located at Wickenburg, Arizona, approximately 70 miles northwest of Phoenix. Mineworx is an innovative technology Company that has developed HM X-tract, a patent-pending environmentally friendly, portable, heavy mineral extraction unit for the mining sector.
Mineworx is onsite and commissioning its prototype HM X-tract equipment to begin working on alluvial deposits on the property. Terms of the agreement are based on a model of sharing net profits.
"For the past four months, Mineworx has focused on evaluating gold properties in the south western United States, where there are literally thousands of small to mid size gold mining opportunities in which the Mineworx technologies can advance projects for property owners who may be having difficulty advancing their deposits due to financial, environmental or logistical reasons," stated Duane Nelson, President of Mineworx. "We presently have a short list of future properties in this region to begin working on as we ramp up production of additional HM X-tract units in our fabrication facility in Coquitlam, Canada."
"VPG is ideally suited to not only allow the HM X-tract portable extraction unit to showcase its performance and operational capabilities in a large scale placer environment but is also optimum for allowing on site testing and evaluations of related new technologies we are presently working on," stated Greg Pendura, President and CEO.
The Company plans to provide further updates pertaining to site evaluations and ongoing commercial production activities.
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About Mineworx
Mineworx is an innovative technology company focused on increasing value within the mining sector with its patent-pending environmentally friendly, portable, heavy mineral extraction equipment. Mineworx's unique business model is to seek out advanced-stage mineral deposits on which to employ its processing technologies and partner with the existing owners/ operators by advancing these deposits in an accelerated manner attaining profitable production in a timely, cost effective and environmentally friendly manner.
The unique, integrated water clarification and filtration technologies lowers economic risk and reduces environmental impact by allowing operators to recycle most of the process water used at a typical mine site thereby significantly reducing or eliminating the necessity for tailings ponds.
About Iberian Minerals
Iberian Minerals is a Canadian junior mining company positioned for growth through the partnership of advanced cash flow mining opportunities utilizing the Mineworx environmentally friendly toll-processing technologies. In addition the Company is also pursuing its interest of accumulating high interest assets throughout the mineral rich Iberian Peninsula. For further information, go to www.iberianminerals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Contact
Duane Nelson
President of Mineworx
604-512-8118
duane@mineworx.net
Iberian Minerals Ltd.
Rick Gliege
Corporate Development
250-751-3661
rick@iberianminerals.ca
