|By PR Newswire||
|April 3, 2014 09:25 AM EDT||
SCOTTSDALE, Ariz., April 3, 2014 /PRNewswire/ -- Intertech Solutions Inc. (OTC: ITEC) ("Intertech Solutions Inc.," "ITEC" or the "Company") The Company is pleased to report that the Phase 1 mine site preparation was completed on March 21st at its WPE #1 and #2 gold claims located in Quartzite, AZ.
The scope of work included gold pay zone excavation and road widening to allow heavy equipment to access the back of the property. The work was required to allow a large excavator to prepare each of the five remaining test sites. Work crews bladed off the top 4-8 feet at each test site exposing the pay layer where the recoverable gold is contained. ITEC is encouraged to report that we exposed the identical pay gravel layer that was uncovered in our previous testing program at the other end of the claim. This gives strong indication of a continuous pay gravel trend throughout the length and width of our entire property.
Phase 2 of the program is scheduled to commence prior to the end of March and will consist of further trenching of the 5 test locations to a depth of 30 feet for full sampling of gold bearing gravels to depth. The Company has now noted on surface the presence of visible gold within exposed the "red" caliche layers that had assayed over 2 grams per ton in prior sampling. Once the trenching and sampling program is completed, it may potentially double, or even triple the original estimates of one million in situ tons on the first five acres of the 40 total acre claim block.
Intertech's Consulting Geologist and Director, Robert McIntosh said, "Phase 1 has been successful in removing low grade surface material to expose the gold pay zone sampled in prior due diligence and earlier test production programs. The presence of the iron stained caliche layer below the 4 foot depth with visible gold is extremely significant and indicates that we are on the pay gravels and will now excavate to depth to confirm the entire width of the pay zone. Once complete, calculations can be finalized as to the deposit size and grade for mine planning purposes."
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.
Intertech Company President, David Naylor, states, "The Company is on schedule with the progress to date and we are very optimistic regarding the early positive indications of a potential economically viable ore body. We expect Phase 2 to be completed by early May in conjunction with a fully compliant 43-101 engineering report to fully delineate the gold resource on our 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: 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.