en.Wedoany.com Reported - MineralRite Corporation, after completing the Phase One assessment and historical review of its Skull Valley Tailings Project located in Yavapai County, Arizona, USA, has decided to advance the project to a Phase Two drilling and sampling program. This program is designed to support a mineral resource estimate compliant with Regulation S-K Subpart 1300, but its actual implementation is contingent upon the availability of sufficient financing and other conditions.
The proposed Phase Two program is expected to include additional independent sampling, certified laboratory analysis, metallurgical evaluation, engineering review, technical data verification, and other work related to the ongoing assessment of the project. The objective of these efforts is to determine whether the project can ultimately support the preparation of a report compliant with Regulation S-K Subpart 1300, including a mineral resource estimate.
MineralRite stated that the previously announced technical assessment activities related to the Skull Valley Project are progressing. Allan L. Schappert (CPG #11758, SME-RM) of ALS Geo Resources LLC continues to conduct the technical assessment work for the project on behalf of the company. The full text of his communication regarding certain recently completed matters during the Phase One assessment is available on the company's website under the Investor Relations page and at designated URLs.
The Phase One assessment was designed to review and conduct limited independent verification of certain historical third-party technical data related to the Skull Valley Project. This data includes historical sampling results, analytical data, volumetric studies, and site assessment materials related to previously processed tailings material at the project site.
As part of the Phase One assessment, the project team conducted site visits to confirm the continued existence and overall integrity of the tailings impoundments and related project areas referenced in the historical technical data. Following the initial site visit, limited sampling activities were also carried out.
Phase One also included contacting historical laboratories and analytical institutions associated with some of the historical work. Of the three historical analytical institutions, one was successfully contacted. A representative of that institution confirmed that the reviewed historical analytical data was consistent with historical records. The methodologies used by the three analytical institutions were reviewed and determined to be generally appropriate and consistent with industry practices for the relevant time periods. However, while the conclusions of two of the reports were largely consistent, the results from the third report were significantly higher, identified as a statistical outlier, and were not adopted in determining the final comparative assessment.
The limited independent sampling activities conducted during Phase One detected certain precious metals in the analyzed samples, consistent with the metal types identified in the historical analytical data. The company emphasized that these samples were limited in number and selective in nature, do not represent the entire tailings, and should not be considered confirmation of the presence, grade, continuity, or economic recoverability of any mineralization. Establishing a representative mineral resource would require the more comprehensive sampling and drilling proposed in the Phase Two program. The company cautioned that the limited scope of Phase One activities does not constitute a comprehensive metallurgical, resource, reserve, or economic evaluation of the project.
James Burgauer, President of MineralRite Corporation, stated that based on additional information provided by ALS Geo Resources LLC and the historical technical data reviewed to date, management believes there is sufficient support to advance the project to a more comprehensive Phase Two drilling and sampling process. He mentioned that the goal of Phase Two is to further evaluate the characteristics of the previously processed material on site to determine whether the project can ultimately support the preparation of a technical report compliant with Regulation S-K Subpart 1300.
Burgauer further explained that the proposed Phase Two work plan is expected to include additional drilling and core sampling activities, expanded independent laboratory testing, a significantly increased number of analytical assays, additional metallurgical evaluation, engineering review, and further technical analysis. These efforts are aimed at better quantifying the nature, extent, characteristics, and potential value of the previously processed tailings material on site.
Burgauer added that the company has not yet identified any mineral resources or mineral reserves under SEC Regulation S-K Subpart 1300. Substantial additional technical work is still required before any conclusions can be drawn regarding economic feasibility, metallurgical recoverability, or commercial viability. He stated that further updates on the Phase Two drilling and sampling program will be provided as significant developments occur.
MineralRite Corporation focuses on evaluating, remediating, recovering, and potentially recovering mineral value from existing materials, including previously processed tailings and other resource-bearing matrices. The company's strategy centers on resource recovery and monetization from existing materials, rather than traditional greenfield mining exploration. The company believes this approach may represent a more efficient potential operational pathway and reduce upfront capital commitments through a more staged investment profile. The company is currently in an early development stage, has not identified any mineral resources or reserves under SEC Regulation S-K Subpart 1300, and has no revenue-generating operations.
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