SCOTTSDALE, Ariz., July 7, 2014 /PRNewswire/ -- Intertech
Solutions Inc. (OTC: ITEC) (OTCPink: ITEC) ("Intertech
Solutions Inc.," "ITEC" or the "Company") today is very pleased to
report that the Company has received a technical report on the WPE
Project, that outlines the gold resource on the claims and makes
recommendations as to the immediate actions required to commence
gold production prior to the end of 2014.
The first significant finding of the report is that an inferred
mineral resource is present on the WPE #1 and #2 claims and was
calculated under classification of N.I. 43-101 to be 2,437,500
tons.
The report also, as previously announced, has calculated two
grades of the project from over 100 chip and muck samples acquired
in the Phase 2 program, one cutting all samples that exceed one
ounce per ton, to a value of one ounce, and an uncut grade. These
samples are 4.556 grams per ton (0.135 opt) cut to one ounce, and
9.974 grams per ton (0.296 opt) uncut. All assay results can be
viewed in the report.
It now may be inferred that there exists the potential for
between 330,000 and 720,000 ounces of gold. Supplemental analytical
and exploration work is required to further refine the above
parameters. This will include defining the actual head grade as
well as moving the tonnage categories into a higher classification
of indicated and or measured.
The recommendations of the report are to undertake extensive
analysis and metallurgy of the gold bearing material to fully
understand where the gold exists and how it can be liberated and by
what process. The Company has already implemented a metallurgical
study on the gold ore and shipped the ore material for analysis
with results expected in 3-4 weeks.
Final recommendations are to undertake additional trenching and
sampling as well as extract and process a large (10 ton) bulk
sample to ultimately define gold grade of the material prior to
purchasing mining equipment.
All recommendations of the report are being implemented and are
underway, in conjunction with preparing our Plan of Operations
submission with the Bureau of Land Management (B.L.M.). When all
the final results are received by the end of July, we will be able
to finalize the plant design and begin the construction process. A
full timeline for production is available for review in the report
and can be reviewed by stakeholders of the Company at:
www.itecgold.com.
The WPE Claims #1-#4 claims are located in the Middlecamp Mining
District in La Paz County, near
Quartzite Arizona. The gold claims now cover a total of 80
contiguous acres and have easy access between Phoenix and Palm
Springs, California, along Interstate 10. The project is 7
miles south of the Copperstone gold mine when from 1987 to 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.
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.
David Naylor
Director, C.F.O.
To find out more about Intertech Solutions Inc. (OTCPK: ITEC),
visit our website at www.itecgold.com
Investor Relations:
+1-480-296-2065
investors@Intertechsolutionsinc.com
SOURCE Intertech Solutions Inc.
