One of Few Locations in World Hosting Large, Undeveloped Copper Deposits
RENO, NV--(Marketwire - December 7, 2010) - Itronics Inc. (
The project area is now covered by 289 claims and encompasses 5,780 acres, approximately 9 square miles. At the end of August 2010, 175 claims encompassing approximately 3,500 acres had been staked on BLM land. Since September 1, an additional 2,280 acres have been staked and claim staking is continuing.
The Auric polymetallic gold project has been named the Fulstone Project and classified as an IOCG (Iron Oxide Copper Gold) exploration target. The Fulstone Project is located within the Yerington Mining District about 90 miles south east of Reno, Nevada. The community of Yerington, Nevada, is located in the south central portion of the district.
The Yerington Mining District was one of the first copper mining districts within Nevada with copper development and production initiated in the 1800's. Today the Yerington Mining District is a world class district that hosts a cluster of very large undeveloped copper deposits that contain iron, gold, molybdenum, and silver. There are two deposits within the district that are "elephant" size, with reserves and resources approaching 2 billion tons that contain almost 8 million tons of metallic copper. One of these deposits (Pumpkin Hollow) is an IOCG (Iron Oxide Copper Gold) deposit and the other (Ann Mason) is a porphyry copper deposit.
"We believe that the Yerington Mining District is one of the few locations in the world that hosts a cluster of such large, undeveloped copper deposits," said Dr. John Whitney, Itronics President. "With diminishing available undeveloped mineral deposits globally, the Yerington Mining District is well situated for world class mine development."
Fulstone is an advanced stage exploration project and Auric believes it has large scale potential as an IOCG exploration target. The deposit model Auric is looking to for guidance as to potential mineralization is the Pumpkin Hollow IOCG Project with 2009 NI 43-101 compliant measured, indicated and inferred resources of 929 million tons containing 4.65 million tons of copper, 1.45 million ounces of gold, 55 million ounces of silver, 48 million pounds of molybdenum and 183 million tons of iron in five deposits. The Fulstone Project has many similarities to the Pumpkin Hollow Project, but has not yet been drilled and does not have any measured, indicated, or inferred mineral resources.
Whitney & Whitney identified the Fulstone project for Auric and negotiated to help Auric acquire the highly prospective mineral property. Auric is a majority owned affiliate of Whitney & Whitney, Inc. and was formed to acquire multi-mineral (polymetallic) gold properties, and to strategically invest in Junior Gold and Minerals Companies that provide the opportunity to develop and commercialize environmentally friendly polymetallic gold projects.
Headquartered in Reno, Nevada, Itronics Inc. produces GOLD'n GRO liquid fertilizers and silver bullion. Itronics, through its subsidiary Whitney & Whitney, Inc. is developing environmentally compatible mining technology and is now providing project planning and technical services to its mining affiliate Auric Gold & Minerals, Inc. It also operates the popular InsideMetals.com web site, http://www.insidemetals.com, which provides a value-added WORLD VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral Stocks.
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