Sampling Begins for Assays to Complete Fully Compliant Engineering Report
SCOTTSDALE, Arizona, April 17, 2014 /PRNewswire/ --
Intertech Solutions Inc. (OTC: ITEC) ("Intertech Solutions Inc.," "ITEC" or the "Company") The Company is pleased to report that the four primary trenches with depths of 27 to 30 feet, as allowed by the BLM, are completed on its WPE #1 and #2 gold claims located in Quartzite, AZ. The conclusion of this trenching work was facilitated by the previously completed site preparation and improvements to the road to allow heavy equipment access to the entire property.
The secondary trench testing and sampling is currently in progress and will provide the material for assays to be used in the fully compliant engineering report. Visible gold showings are continuing to be found in numerous samples taken from surface down to depth of 30 feet. Preliminary calculations based on the land survey and trending of the resource with hematite and visible gold are indicating the initial estimated placer gold reserves of 2.5 million tons are more likely to be in the 5 to 7 million ton range. The three new shear zones were discovered during this trenching phase are increasing the likelihood of a new lode source discovery on the property in addition to the existing alluvials. These veinular quartz formations have visible gold present.
Intertech's Consulting Geologist and Director, Robert McIntosh said "It is good to be onsite again with my crew to obtain the samples required for the assays and metallurgical analysis. All safety precautions are being taken as we sample down to depth of 30 feet in the trenches. In my opinion, the earth exposed in the trenches with its reddish brown ferrous material containing hematite further confirms the presence of an economic gold resource trending throughout the entire property. This is in addition to the visible gold and flecks that I removed by hand from a previous site inspection."
Intertech Company President, David Naylor, states "by this Friday April 18 all of the 200 plus samples taken from the four trenches on the WPE #1 and #2 Claims will be in transit to the lab in Phoenix for complete metallurgical assays. Prior to the end of May the Company will have a fully compliant engineering report prepared and signed by a Qualified Person. This is the final step before we commence full on to complete the mine plan and obtain all required permitting to begin operations on our 1,000 ton per day placer gold mining operation."
The WPE Claims #1 & #2 spatially located 7 miles south of the Copperstone gold mine when in 1987 and 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. Former historic lode gold producers as the Darling and Dome Basin Mines, which operated between 1900 and 1930, are present as well as numerous turn of the century rudimentary gold mining operations which are allocated immediately south of the WPE #1 & #2 Claims.
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: http://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 http://www.itecgold.com
SOURCE Intertech Solutions Inc.