SCOTTSDALE, Ariz., June 9, 2014 /PRNewswire/ -- Intertech Solutions Inc. (OTC: ITEC) ("Intertech Solutions Inc.," "ITEC" or the "Company") today is pleased to report that the Company has received additional gold assay results from the previously announced Phase 2 trench sampling program at its WPE #1 and #2 gold claims located in Quartzite, AZ.
So far, the Company has received certified assays comprising 80% of the total samples that were taken at the WPE Claims. The cumulative assay results continue to exceed our initial estimates of two grams of gold per ton. The aggregate of the assays received and interpreted, now allows us to make the inference of a substantial gold ore body trending throughout the entire claim and beyond.
The samples taken from the four trenches all exhibited the presence of visible gold within the highly altered rocks and the exposed "red" caliche layers that had assayed over 2 grams per ton in prior sampling. Based on the empirical assay results received to date we now believe that this immediate 5 acre parcel may hold in excess of 3 million tons of gold bearing resource with a potential insitu value of $240 Million USD.
Intertech's President and C.E.O. Rob McIntosh said "To date, Phase 2 has been an absolute success with gold values which will determine the grade of the deposit and ultimately our future cash flow exceeding our expectations and grades put forward in our initial business plan. Assuming the remaining 20% of the test material results come back similar, we are well on our way to having a mineable gold deposit."
The WPE Claims #1 & #2 Claims located in the Middlecamp Mining District in La Paz County, near Quartzite Arizona. The placer gold claims cover a total of 40 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 to 1993 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.
To find out more about Intertech Solutions Inc. (OTCPK: ITEC), visit our website at www.itecgold.com
SOURCE Intertech Solutions Inc.