RENO – A Reno-based green-technology company is seeking partners to develop copper and more ore deposits in the Yerington Mining District after completing a promising geological study.
Itronics Inc. reported Aug. 30 in a press release that its wholly-owned technical services subsidiary, Whitney & Whitney Inc., recently completed an updated Fulstone Project Geological report for its partially owned subsidiary, Auric Gold & Minerals Inc. It also reported that Auric has made the annual claim payments to the Bureau of Land Management for its Fulstone Project in Nevada.
“Copper and zinc prices are at multiyear highs and gold and silver prices are now increasing,” said Dr. John Whitney, president of Itronics. “Good exploration projects in major mining districts are in short supply. Because of that, our goal is to obtain exploration funding for the Fulstone project over the next several months.”
The Fulstone Project claims are on the west, north and east sides of the formerly operating Minnesota Mine. The Minnesota Mine is in the northwest part of the Yerington Mining District, historically called the Buckskin Range. The Fulstone Project is about 90 miles southeast of Reno with Yerington being in the south-central portion of the district.
“We believe that the Yerington Mining District is one of the few locations in the world that hosts a cluster of large undeveloped copper deposits,” Whitney said. “With diminishing available undeveloped mineral deposits globally, the Yerington Mining District is rapidly becoming more attractive for world class mine development, as is demonstrated by the major companies that now have active development projects in the district.”
The recently completed geological report indicates prospects for structurally covered blind iron oxide copper gold ore, porphyry copper, and porphyry molybdenum deposits, as well as strata-bound zinc and epithermal gold mineralization.
The report is available on a confidential basis to parties that have an interest in becoming investors, funding partners or joint venture partners. The company is having nonexclusive discussions that could lead to a development agreement with certain interested parties.
The assessment of project prospects is based on historic archival data, published geological mapping, soil and rock geochemical sampling, several long lines of induced polarization survey data, and low altitude aeromagnetic mapping.
Itronics is a green-technology company that produces silver bullion, silver-bearing glass and GOLD’n GRO specialty liquid fertilizers, which are used in agriculture and can be used for lawns and houseplants.
The company’s goal is to achieve profitable green-technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc and minerals. Technologies maximize the recovery and uses of metals and minerals while maximizing sustainability.
The company also is developing a portfolio of environmentally beneficial “zero waste” processing and mining technologies.