Intertech Solutions Receives Final Results with Multi-Ounce Gold Assays from WPE Project in Arizona
SCOTTSDALE, Ariz., June 25, 2014 /PRNewswire/ -- Intertech Solutions Inc. (OTC: ITEC) (OTC Pink: ITEC) ("Intertech Solutions Inc.," "ITEC" or the "Company") today is very pleased to report that the Company has received the final gold sample assays for a complete set of results from the previously announced Phase 2 trenching and sampling program at its WPE #1 and #2 gold claims located in Quartzite, AZ.
The Company received certified assays as high as 193.872 grams per ton (5.757 ounces per ton) from excavated trench ore piles. Additionally, other multi-ounce assays include 163.354 g/t (4.852 opt), 109.428 g/t (3.250 opt), 79.697 g/t (2.367 opt) and 75.118 g/t (2.231 opt).
These high grade results reflect and confirm the presence of coarse gold nuggets and gold flakes in the ore as seen visually in samples and at the laboratory. The Company therefore has calculated two grades of the project from over 100 chip and muck samples acquired in the Phase 2 program, one cutting all samples that exceed one ounce per ton, to a value of one ounce, and an uncut grade. These samples have given two weighted average grades of 4.556 grams per ton (0.135 opt) cut to one ounce, and 9.974 grams per ton (0.296 opt) uncut.
The final assay results just received as well as the final calculated grade have more than surpassed our early projections of 2 grams of gold per ton. The cut grade of 4.556 grams per ton is more than double, and the uncut grade is nearly 5 times what we anticipated. We are now in the process of finalizing our third party engineering report that will confirm all the aforementioned work, and calculate our tonnage resource. This report is anticipated shortly.
Intertech's President and C.E.O. Rob McIntosh states "The results of the Phase 2 evaluation program have far exceeded anything we anticipated, and by finding coarse gold nuggets reflected in the multi-ounce assays, can now project a very profitable, economically viable gold mine with tremendous upside. If the un-cut grade reflects the true value of the ground, we may be capable of generating 5 times the cash flow that previously imagined."
The WPE Claims #1-#4 claims are located in the Middlecamp Mining District in La Paz County, near Quartzite Arizona. The gold claims now cover a total of 80 contiguous acres and have easy access between Phoenix and Palm Springs, CA along Interstate 10. The project is 7 miles south of the Copperstone gold mine when from 1987 to1993 Cyprus Gold profitably open pit mined over 500,000 ounces of gold. American Bonanza Corporation has just re-opened the Copperstone Mine for its lode gold reserves.
About Intertech Solutions Inc. (OTCPK: ITEC)
Intertech Solutions is a fully integrated, gold project finance, management and services consulting Company that provides development capital, engineering, project supervision and technical management to gold projects. The Company operates from its offices in Scottsdale, Arizona. Visit us at: www.itecgold.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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. Such forward-looking statements include, among other things, scope and type of consulting services provided by ITEC, use of proceeds, future acquisitions, success of projects, growth and strategic plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. 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 the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that 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.
ON BEHALF OF THE BOARD
Intertech Solutions Inc.
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To find out more about Intertech Solutions Inc. (OTCPK: ITEC), visit our website at www.itecgold.com
SOURCE Intertech Solutions Inc.