Antimony Takes on Properties in Montana
United States Antimony Corporation (NYSE:UAMY) shares were mildly Thursday, on the announcement that the company has been stealthily reacquiring mining claims and real property since earlier this year, immediately adjacent to its existing antimony smelting operations located in Sanders County, Thompson Falls, Montana.
Mining operations at these properties were initiated back in the early 70's by prior management of the Company in and around our existing operating antimony smelter. The Company owns today approximately 24 acres of surface fee simple land and non-patented mining rights on approximately 1,200 acres.
After a thorough review of the geology, historical records, and actual "boots on the ground" observations in and around our existing operations, it was determined earlier this year that existing quantities of antimony, sufficient to re-establish profitable mining activities, could exist in the three vein systems on the property.
Additionally, it was determined that surface mining operations with a minimal pre-development expenditure could possibly be feasible in addition to the prior underground mining operations that were previously utilized.
The Company is permitted to begin immediate mining operations on the five acres of the patented property, having filed a Small Miners Exclusion Statement (SMES) with the State of Montana. The company intends to file a second SMES within the next 10 days in addition to filing Exploration Permit applications with both the State of Montana and the US Forest Service.
UAMY shares acquired 2.5 cents to $2.15.
