Firma's GracePoint Mining Corp Advances the Magistral Project Toward Production
HENDERSON, NV--(Marketwired - July 20, 2017) - Firma Holdings Corp. (OTC PINK: FRMA) through its subsidiary GracePoint Mining Corp, and in partnership with MX Gold Corp. (TSX VENTURE: MXL) (FRANKFURT: ODV) (OTCQX: MXLGF), is pleased to announce that the Magistral project is progressing on schedule. The turn-key build out of the plant includes increasing throughput capacity to 1,000 tonnes per day. The build out is on track to be completed, with the plant operational, by this November.
Mr. Dan Omeniuk, Chairman and CEO of MX Gold stated, "Despite the rainy season in the region, it is encouraging to see that the project business plan is being executed on schedule, and that our Joint Venture efforts with GracePoint are producing positive outcomes. We are looking forward to the projected cash flow from Magistral, as it will serve as an integral part of building value for MX Gold shareholders with a non-dilutive strategy."
Mr. Bert McPherson, President of MX Gold stated, "Combined efforts with GracePoint have also allowed us to seek out potential new acquisitions in the area. We look forward to updating our shareholders after conducting our due diligence in weeks to come."
The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million. There is a current build out, underway, to bring the plant to 1,000 tonnes per day capacity. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold). We are actively sourcing additional toll tailings tonnages and expect to increase project life time near term.
About Firma Holdings Corp. (http://www.FirmaHoldings.com)
Firma currently holds active subsidiaries in mining and technology.
GRACEPOINT MINING CORP: Firma Holdings currently owns four mining projects that encompass over 48,000 acres in Mexico. The Don Roman district has 70+ distinct structures identified within 8 km diameter of a 100% owned centralized processing mill. The Picacho group has 9 gold-bearing veins over 4 mineralized target areas with an aggregate vein strike length of over 10.8 km. The Durango Smelter Project. And the Magistral project, which includes a processing plant, and the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.FirmaHoldings.com.
Contact
Contact:
David Barefoot
(888) 901-4550
David@FirmaHoldings.com
