Owner
Post by Franko10 ™ on Jul 27, 2005 16:23:43 GMT -5
Oretech Update on Commercial Line and Recent Mine Assays
PHENIX CITY, Ala. -- Oretech, Inc. (OTCBB: ORTE) CEO, Francis C. Hargarten, announced today that the Company is maintaining ongoing operation of its first commercial line of its proprietary extraction technology. Mr. Hargarten added that, "We have been excited by the high percentage of total metal extracted under the process, and the line will be adjusted to provide a more distinct separation of base and precious metals to provide even better results." According to the Company's operational management, this is an ongoing part of the process and is in line with the learning curve associated with metals extraction from various feedstocks. It is anticipated that extraction costs using the Company's proprietary processing technology will yield a higher percentage of all the precious metals in processed feedstock at a lower cost per ton, as compared to traditional extraction methods. Furthermore, the extraction process is far more environmentally friendly than today's commonly used methodologies.
The Company also recently completed several internal assay tests from its above ground feedstock located at its Colorado sites. These tests indicated favorable values for both gold and silver. Initial indications of 4.23 to 14.24 grams of gold (g/t) per ton and 493 to 638 g/t of silver are present in the Colorado feedstock. The above ground deposits on this property are estimated between 800,000 and 1,000,000 tons -- not including the potential for additional below ground deposits.
Mr. Robert Garcia the Company's V. P. of Mining Acquisitions stated, "I feel the Company can concentrate the Colorado feedstock for benefication of the stated values at a ratio as high as 10:1. This concentrating of the feedstock should dramatically reduce the processing costs and allow for a greater gross profit." The company intends to process its Colorado feedstock and concentrate it for shipment to Alabama for final extraction using it cutting edge extraction technology. This stage of events ultimately allows the Company to exploit its internal source of feedstock, save tremendous amounts of freight by shipping a concentrate instead of "head ore," and provide the commercial line in Alabama with a high value feedstock.
The Company is in the process of organizing the financial, permitting and engineering aspects to commencing full mining operations at its Colorado facility at some point in 2005.
The Company is still pursuing the processing of other third party sources of feedstock derived from other head ores, bottom ash waste and electronic waste.
Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of hazardous chemicals or the emission of environmentally unsafe gases. The Company is currently traded on the OTCBB as "ORTE."
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Oretech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Oretech with the SEC, specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Among the important factors or risks that could cause actual results or events to differ materially from those in the forward-looking statements in this release are: business and economic conditions and growth trends in our industry in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; variations in customer demand for products and services; variability of operational costs; variations in sales channels, product costs, or mix of products sold; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; dependence on the introduction and market acceptance of our technology and expansion into other industry segments; rapid technological and market change; litigation involving patents, intellectual property, stockholder and other matters; the ability to recruit and retain key personnel; financial risk management; our ability to raise capital to fund our operations and expansion plans; and potential volatility in operating results, among others.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
PHENIX CITY, Ala. -- Oretech, Inc. (OTCBB: ORTE) CEO, Francis C. Hargarten, announced today that the Company is maintaining ongoing operation of its first commercial line of its proprietary extraction technology. Mr. Hargarten added that, "We have been excited by the high percentage of total metal extracted under the process, and the line will be adjusted to provide a more distinct separation of base and precious metals to provide even better results." According to the Company's operational management, this is an ongoing part of the process and is in line with the learning curve associated with metals extraction from various feedstocks. It is anticipated that extraction costs using the Company's proprietary processing technology will yield a higher percentage of all the precious metals in processed feedstock at a lower cost per ton, as compared to traditional extraction methods. Furthermore, the extraction process is far more environmentally friendly than today's commonly used methodologies.
The Company also recently completed several internal assay tests from its above ground feedstock located at its Colorado sites. These tests indicated favorable values for both gold and silver. Initial indications of 4.23 to 14.24 grams of gold (g/t) per ton and 493 to 638 g/t of silver are present in the Colorado feedstock. The above ground deposits on this property are estimated between 800,000 and 1,000,000 tons -- not including the potential for additional below ground deposits.
Mr. Robert Garcia the Company's V. P. of Mining Acquisitions stated, "I feel the Company can concentrate the Colorado feedstock for benefication of the stated values at a ratio as high as 10:1. This concentrating of the feedstock should dramatically reduce the processing costs and allow for a greater gross profit." The company intends to process its Colorado feedstock and concentrate it for shipment to Alabama for final extraction using it cutting edge extraction technology. This stage of events ultimately allows the Company to exploit its internal source of feedstock, save tremendous amounts of freight by shipping a concentrate instead of "head ore," and provide the commercial line in Alabama with a high value feedstock.
The Company is in the process of organizing the financial, permitting and engineering aspects to commencing full mining operations at its Colorado facility at some point in 2005.
The Company is still pursuing the processing of other third party sources of feedstock derived from other head ores, bottom ash waste and electronic waste.
Oretech is known for its breakthrough materials processing technology, which extracts specific minerals from diverse feedstock and raw materials without the use of hazardous chemicals or the emission of environmentally unsafe gases. The Company is currently traded on the OTCBB as "ORTE."
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Oretech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Oretech with the SEC, specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Among the important factors or risks that could cause actual results or events to differ materially from those in the forward-looking statements in this release are: business and economic conditions and growth trends in our industry in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; variations in customer demand for products and services; variability of operational costs; variations in sales channels, product costs, or mix of products sold; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; dependence on the introduction and market acceptance of our technology and expansion into other industry segments; rapid technological and market change; litigation involving patents, intellectual property, stockholder and other matters; the ability to recruit and retain key personnel; financial risk management; our ability to raise capital to fund our operations and expansion plans; and potential volatility in operating results, among others.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
