The Graystone Company (OTCBB: GYST), announced today its results from the Company's recently completed preliminary study at the Company's mining project Gorilla in Peru. The preliminary study is designed to expand and update the Company's inferred gold resources and to begin mapping the mineralization of the gold on the property.
The results of the mapping will assist in identifying high priority mining targets once the Company begins limited production (or bulk sampling), planned for the late fall of 2012.
The Company's Managing Director, Paul Howarth, will be in Peru for the month of February to retain an additional geologist in Peru who will assist in the mineralization map. The Company expects the mineralization map to take at least 7-12 months to complete. During this time, the Company is also beginning the construction on a new mining camp on Gorilla to prepare for additional operations to commence once the mineralization map has been completed.
A summary of the results of the prefeasibility study are as follows:
Code | Coordinates |
Cubic |
Gold per | |||||||||||||
North | East | |||||||||||||||
GS001GO | 9507110 | 223040 | 10m | 0.8 | ||||||||||||
GS002GO | 9507320 | 223002 | 13m | 0.61 | ||||||||||||
GS003GO | 9507867 | 223129 | 9m | 0.94 | ||||||||||||
GS004GO | 9507873 | 223126 | 21m | 0.76 | ||||||||||||
GS005GO | 9507090 | 223025 | 28m | 1.2 | ||||||||||||
GS006GO | 9507055 | 223022 | 17m | 1.24 | ||||||||||||
GS007GO | 9507040 | 222998 | 22m | 0.68 | ||||||||||||
GS008GO | 9507015 | 223004 | 29m | 0.55 | ||||||||||||
GS009GO | 9507350 | 223008 | 34m | 0.52 | ||||||||||||
GS0010GO | 9507842 | 223092 | 38m | 0.447 | ||||||||||||
GS0011GO | 9507607 | 223007 | 12m | 0.33 | ||||||||||||
GS0012GO | 9507580 | 223011 | 10m | 0.4 | ||||||||||||
GS0013GO | 9507252 | 223005 | 26m | 0.96 | ||||||||||||
GS0014GO | 9507871 | 223105 | 15m | 1.16 | ||||||||||||
GS0015GO | 9507852 | 223098 | 17m | 1.05 | ||||||||||||
GS0016GO | 9507543 | 222998 | 26m | 0.46 | ||||||||||||
GS0017GO | 9507280 | 223015 | 19m | 1.47 | ||||||||||||
GS0018GO | 9507075 | 223027 | 10m | 1.3 | ||||||||||||
GS0019GO | 9507844 | 223090 | 27m | 0.55 | ||||||||||||
GS0020GO | 9507486 | 223003 | 23m | 0.43 | ||||||||||||
GS0021GO | 9507210 | 222995 | 16m | 0.81 | ||||||||||||
About The Graystone Company The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any 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.
The Graystone Company, Inc.
Paul Howarth
(702) 438-4100
info@graystone1.com
www.graystone1.com