AmerAlia Inc. announces positive test results on Rock School Lease.COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo.--(BUSINESS WIRE)--June 7, 1996--AmerAlia Inc. (Nasdaq:AALA AALA Adventure Activities Licensing Authority AALA American Agricultural Law Association AALA American Association for Laboratory Accreditation AALA American Automobile Labelling Act AALA Asociación de Amigos del Lago de Atitlán ) announced Friday that assay results from its recently completed core hole drilling have positively determined that the nahcolite (sodium bicarbonate sodium bicarbonate or sodium hydrogen carbonate, chemical compound, NaHCO3, a white crystalline or granular powder, commonly known as bicarbonate of soda or baking soda. It is soluble in water and very slightly soluble in alcohol. ) deposit on its Rock School Lease is confirmed, as expected. The results also correlate well with assay results from holes in adjacent areas outside this lease. Specifically, the hole intersected, beneath the Lower Balt layer, in three separate resource intervals for a total of 510 feet averaging 26.4% nahcolite. Core samples have also been selected and tested for strength and other properties necessary to confirm stability of the "leach caverns" during and after the nahcolite extraction process. A report on the stability determinations is expected to be released in about 30 days. Negotiations are currently underway for the project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. necessary to construct the mining facility. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bill Gunn, chairman of AmerAlia: "The last few meetings with our prospective funding partners have given us the necessary comfort to actively begin the structuring of the debt, equity and non-recourse facilities that will be required to raise the needed capitalization. If all goes according to plan, AmerAlia hopes to begin active operations on the site no later than fall of 1997." AmerAlia owns a U.S. Department of Interior lease of 1,320 acres in the Piceance Creek Basin. This basin contains the world's largest deposit of nahcolite (naturally occurring sodium bicarbonate which is generally known a baking soda baking soda: see sodium bicarbonate. ). The company's lease has been previously estimated to contain an insitu resource of approximately 600 million tons of nahcolite. Due to strong, world-wide demand for sodium bicarbonate, coupled with AmerAlia's expected low cost of production, the company anticipates rapidly gaining marketshare by providing a full range of pharmaceutical, food, technical, animal feed and flue-gas desulphurization product grades. -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.insidewallstreet.com. These symbols may not appear properly in some systems. CONTACT: AmerAlia Inc. Marvin Hudson, VP, Investor Relations Investor relations The process by which the corporation communicates with its investors. , 719/260-6011 or Continental Capital & Equity Corp. Dodi Zirkle, 407/875-1110 http://www.insidewallstreet.com |
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