ATG's New Concept Mining pours first gold.MONROVIA, Calif.--(BUSINESS WIRE)--Oct. 31, 1996--American Technologies Group Inc. (ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant ) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ATEG ATEG Assembly for the Teaching of English Grammar .U) Thursday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , New Concept Mining Inc., has poured and shipped the first gold and silver produced at its Manhattan, Nev., facility. The gold and silver is being sold under contract to Johnson Matthey Johnson Matthey plc (LSE: JMAT) is a British chemical company which has its headquarters near Holborn in central London. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index. refinery in Salt Lake City. New Concept plans initially to operate the mill at 200 tons per day (tpd) and monthly production of 300-400 ounces of gold is projected. New Concept has stockpiled in excess of 71,400 tons of ore with 5,031 ounces of gold contained. It is estimated that the production cost of processing this ore is $150 per ounce. In addition, the company currently has identified geologic ore reserves in excess of 161,000 ounces of gold. New Concept has also begun a 12,000-foot drilling and bulk sampling program on two of its properties in the Manhattan Mining District that will confirm existing reserves and delineate additional reserves. Preliminary mine plans will be finalized and permit applications will be finalized as soon as drilling is completed. Mining of these ore bodies may begin as early as February 1996. Bill Foster, New Concept's chief executive officer, stated: ``The planned drilling program will also test both vein extensions on the company's Hooligan and GP properties and the north extension of the vein system on its Gold Wedge property. ``Detailed geologic mapping and extension trench sampling this summer identified two significant north trending, surface mineable ore zones that will be further delineated with this drilling. Both ore zones are open along their north and south extensions and at depth.'' On the Gold Wedge property, Foster stated that New Concept has planned several drill holes targeting a continuation to the north on the Reliance vein structure. Previous core and reverse-circulation drilling indicate 500 feet of gold bearing vein on this property. This gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. continues along the same trend as that to be drilled. Once the drill program and mine plan are completed in January 1997, New Concept intends to increase its mill production to in excess of 300 tpd. New Concept has sufficient reserves currently to operate for seven to eight years but expects to extend this with the current and subsequent drill programs. New Concept Mining is designed to be an environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] mining company with no environmental impact through utilization of ATG's proprietary, patent-pending water purification  It has been suggested that , , and be merged into this article or section. technology.
ATG is an emerging company providing technological solutions to environmental problems worldwide. Such technologies have numerous industrial application, including the oil and gas industry, waste-water purification, metal plating Noun 1. metal plating - a thin coating of metal deposited on a surface plating coating, coat - a thin layer covering something; "a second coat of paint" gold plate - a thin plating of gold on something , metallurgical, electronics, printing, food processing and agricultural. CONTACT: American Technologies Group Inc. Jim Nicastro, 818/357-5000 or Global Consulting Group 310/859-9725 |
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