Over the past few months the new management team of United Resource Holdings Group (“URHG”) has been monitoring extensive testing done at the Dun Glen mine site to analyze the recovery rate of our existing circuit. Based on the tests run, the old circuit was recovering less than 30% of the gold in the raw material. Using the results of these tests, plus other metrics, management determined that there were multiple inefficiencies that needed to be addressed. After exploring possible retrofits and upgrades to the current circuit, it was determined that a new circuit should be assembled at the Dun Glen site to better enhance the recovery of the gold. The new plant for Dun Glen will include a 34-foot trommel with a 4-foot screen section, vibrating dual screens, a wet magnetic separator, dual jigs, a sluice box and a sand screw. The new circuit is designed to run at 100-yards per hour with a recovery rate of 80%.
Another major component of a successful placer mine is having enough water. We have been working diligently to develop the best methods for harvesting our water and have worked with a mine hydrologist and the regulatory agencies to create a system that will provide adequate water for our new circuit.
As of April 20, 2015, the existing circuit at Dun Glen mine was shut down and the new circuit and is expected to be up and running in 5-6 weeks.
More updates will be provided during this exciting new time for Dun Glen.
About United Resource Holdings Group, Inc.:
United Resource Holdings Group, Inc. is a U.S.-based natural resource exploration and development company, focused on the acquisition of mining equipment, mineral-bearing materials, and the development of gold and other precious commodity projects that demonstrate a reasonable probability for near-term production and revenue. In addition, the company holds a controlling interest in a beneficiation process plant that recovers precious metals from mineral ores and ore concentrates on behalf of its captive mining properties and on behalf of third-party mining companies. The company is quoted on the OTCPK under the symbol “URHG”.
Notice Regarding Forward-Looking Statements:
This news release may contain “forward-looking statements”, as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the accomplishment of any of our plans listed for 2015 such as any acquisitions, geophysics, production, construction projects, drilling programs or results from such programs, and the timelines within which such items may be accomplished, as referred to in this news release.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration, development, and production. We are not in control of metals prices and these could vary to make development uneconomic. 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 the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and that which is made publicly available by us from time to time.