US Antimony Provides July - August Operations Details

Rhea-AI Summary

United States Antimony Corporation reported a stable antimony price of $6.16 per pound in its bi-monthly update for July and August 2022. The company achieved zero lost time accidents and zero environmental incidents. Production metrics showed 195 tons of mined zeolite and 1,970 tons sold. The Montana operations are seeing improvements despite ongoing skilled labor shortages. The company is expanding its antimony production capabilities, including collaborations with Ambri and efforts to meet demand from the DOD, enhancing its outlook for future revenues.

Positive

• Stable antimony price at $6.16 per pound.
• Zero lost time accidents and environmental incidents in operations.
• Increased production with 1,970 tons sold and 195 tons mined.
• Collaboration with Ambri to process antimony concentrates.
• Plans to expand production capabilities to meet DOD demand.

Negative

• Ongoing skilled labor shortages could impact production.

THOMPSON FALLS, MT / ACCESSWIRE / September 15, 2022 / United States Antimony Corporation (USAC-the Company) provides the following bi-monthly (July & August) update.

Antimony Price $6.16 per pound

Safety and Environmental

All Company operations reported zero lost time or serious injury accidents during the July-August Period.

There were zero environmental spills, discharges, or incidents during the period.

Production (Unless otherwise specified, tons = metric tons)

Bear River Zeolite ("BRZ"):	July	August	Total
Mined Tons:	104	91	195
Crushed Tons:	570	570	934
Tons Sold:	775	1195	1970

Montana Smelter:	July	August	Total
Antimony Trioxide sold (tons):	74.3	81.1	155.4
Antimony Metal Sold (lbs.)	0	3,307	3,307
Antimony Trisulfide produced (lbs.):	4,410	11,025	15,435

Operation Upgrades

BRZ

The new 40' x 60' service shop building is complete except for the main service door and wiring.

The ripping program in the pit continues as it is evidenced that ripping is giving superior results when performed properly. The company plans to purchase an excavator to assist with the mining, road building, and loading along with a D-9 with dual rippers for mining.

Montana Antimony Metal and Antimony Oxide

The operating team continues to achieve production goals. Skilled labor shortages continue to be a problem but have improved over the last few months.

Ambri Inc.

Shipment of pure antimony metal to Ambri Inc. during this period totaled 3,307 pounds. USAC has a collaboration agreement with Perpetua and a letter of interest with AMBRI to process the antimony concentrates produced by Perpetua. AMBRI recently announced that it will supply batteries to MICROSOFT's cloud servers https://pv-magazine-usa.com/2022/09/14/ambri-liquid-metal-battery-storage-system-to-help-back-up-microsoft-cloud-services/ .

Antimony Trisulphide Montana

We are presently operating two furnaces. At the present time we have satisfied the original military ordnance primer request from the DOD. The delivery of two additional furnaces ordered by the company is expected in Q3. The order was placed in anticipation of:

1. additional supplies of antimony trisulphide concentrate being available from Perkins Rouge & Paint and from our Guadalupe mine in the state of Zacatecas, Mexico, combined with
2. an expected increase in demand for product from the US DOD (Department of Defense) and recreational ammunition manufacturers. It is believed that the war in Ukraine has reduced the USA's stockpile of ordnance and we are positioning the company to assist in the replenishment of antimony trisulphide for primers and tracer bullets.

Wadley Mine Update

Company President, Russ Lawrence, met with onsite personnel and conducted a detailed inspection of the Wadley Mine property. Extensive level and section drawings, dating up to September 1999 were provided to him. These drawings will be digitized and entered into software programs designed to provide 3-D images of the areas mined and thus indicate possible extensions of mineralization into unmined areas. Mining of antimony trioxide material, (as provided for in the purchase option agreement) is continuing with shipments to Madero. Additionally, the Company commenced an aggressive mining campaign on 20 Aug 2022 to ascertain current tonnage, grade, and cost. The Company has purchased over 200 tons of ore between the grades of 25% and an average target grade of better than 30%. The 8-month mining campaign will provide a very significant set of data to aid the Company in its decision regarding the potential purchase of the Wadley mines (outlined in previous press-release).

Soyatal Mines

Two flotation test programs were conducted on ore from the company's mines in the Soyatal district of Mexico under the direction of our flotation plant manager. The initial forty metric tons of ore yielded 1.1 metric tons of dry concentrate that ran 68% antimony with values for lead, arsenic, and other elements within the military specifications. However, the iron was slightly higher than the military spec. limit. Adjustments to the reagents loadings and the flotation procedures were made resulting in improved recoveries with lower impurities. The second forty metric tons of ore yielded 1.6 metric tons of dry concentrate with an increased antimony assay of 71% and was well within the military spec for iron and all other elements. This test work provides the Company with an additional potential source of material for the production of military grade antimony trisulfide. The Soyatel Mine is owned by the Company.

Sierra Guadalupe Mines

The company completed the initial payment of $450,000 dollars for the purchase of the mining claims known as the Sierra Guadalupe mines in the state of Zacatecas Mexico (for see NR August 18, 2022). The company is engaged in negotiations to clarify surface rights issues in an existing agreement with previous owners. A program to recruit local miners to do initial inspection of roads, equipment, and other requirements to start mining as soon as possible is underway. Ore from this mine, being primarily sulfides, will be sent to the company's floatation plant in Guanajuatofor concentration then to its facility in Montana for purification and sale asantimony trisulfide for munition primers. The material from this mine has previously been tested by and met specs of the US DOD.

Other sources of antimony ore

The company is continuing discussions with Guatemalan sources for supply of similar material to be upgraded using the flotation model and/or direct furnace feed at its smelter in Coahuila Mexico., depending on sulfide vs oxide content and host minerals. The company travelled to and inspected a deposit of antimony in Guatemala, making further progress than earlier attempts towards the importation of this ore into Mexico. A down-payment in anticipation of the purchase of the first 40 metric tons of an estimated grade of 45% antimony or better was made this week. If successful, the company has already established an agreement with the source and this ore will be assayed for host minerals and a flow sheet for its treatment will be developed accordingly. Investigations continue into possible sources of antimony trisulphide and antimony trioxide supply from Alaska, eastern Canada, and Australia.

Los Juarez Property

Our geologist in Mexico has completed a 1km x 3 km grid survey of the Los Juarez property. A total of 236 rock and soil samples from this grid have been collected and are being sent to the SGS lab in Durango (ISO/IEC 17025 accredited) for analysis of Sb, Au, Ag, and other trace elements. The geologist has previously mapped mineralized intrusions in proximity to the jasperoid areas. The relationship between intrusive bodies and jasperoids will be further evaluated to assist in defining and modelling drilling targes over this extensive area of mineralization. The geophysical program is expected to be completed no later than the first week of December.

Milling of the Los Juarez bulk sample.

The milling of the original 2,000 metric ton bulk sample from the Los Juarez property was put on hold in order to enable higher priority programs to proceed. : These programs included the test milling and flotation of ores from the Soyatal district; sending technical personnel to a mine in Guatemala, sending experienced personnel to the Wadley mine to assist in the initiation of the mining policies, payment, etc.; and the oversight of the geophysical, geological, and geochemical studies 0n the Los Juarez property.

Summary

The company has been highly active on several fronts. Significant progress has been made in identifying possible sources of supply of antimony that can be upgraded utilizing the expertise and experience acquired by the US Antimony team. These efforts will continue. We thank our shareholders for their patience and for their support.

Forward Looking Statements: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.

CONTACT:
United States Antimony Corp.
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643

E-Mail: info@unitedstatesantimony.com Phone: 928 234 5227

SOURCE: United States Antimony Corp.

View source version on accesswire.com:
https://www.accesswire.com/716225/US-Antimony-Provides-July--August-Operations-Details

FAQ

What was the antimony price reported by US Antimony for July and August 2022?

The antimony price was reported at $6.16 per pound.

How many tons of antimony were sold by US Antimony in August 2022?

US Antimony sold 1,195 tons of antimony in August 2022.

What operational safety metrics did US Antimony achieve in its July-August 2022 update?

US Antimony achieved zero lost time and zero environmental incidents during the period.

How is US Antimony addressing the skilled labor shortage?

The company noted improvements in skilled labor availability over recent months.

What collaborations is US Antimony pursuing to enhance its production?

US Antimony has a collaboration with Ambri and a letter of interest from Perpetua.