Thursday June 10, 3:40 pm Eastern Time
Company Press Release
SOURCE: AZCO Mining Inc.
AZCO Mining Inc. - Black Canyon mica -
construction progress report
FERNDALE, WA, June 10 /CNW-PRN/ - AZCO Mining Inc.
AMEX/TSE:AZC
AZCO Mining Inc. is pleased to report that considerable progress has been made in the development of its
Black Canyon mica project located near Phoenix, Arizona, and its related commercial processing plant located
in Glendale, Arizona.
The processing plant building has been erected and all of the major process equipment required for commercial
production is on-site. The installation of this equipment is currently in progress and is expected to be
completed by July 15, 1999. Furthermore, it is anticipated that this month will also see the selective start-up of
some of these process components as plant commissioning begins.
The plant has an initial estimated annual capacity of 22 million pounds of mica product and can potentially be
easily expanded at a minimal incremental capital cost due to the modular nature of the plant and processing
design.
On a further note, AZCO's extensive marketing efforts have been continuing with very encouraging responses
from end-users. These have led to numerous requests for large quantities of mica for testing purposes.
Particular interest has been shown in some of the speciality grade products that the Glendale plant is expected
to produce.
The rapid development from due diligence and exploration to production and operation could see the company
benefit from its investment by as early as the second half of 1999. AZCO is pleased that within such a short
time frame it is on the threshold of having its first operating mine and processing plant.
For additional information on the Company's Black Canyon mica project please contact the company, visit our
web-site (www.azco.com) or refer to the March 10, 1999 press release which detailed the acquisition and
summarized many of the varied uses for wet-ground muscovite mica.
On behalf of the Board of Directors, AZCO Mining Inc.
Alan P. Lindsay
Chairman, President and Chief Executive Officer
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE AMERICAN STOCK EXCHANGE AND THE TORONTO
STOCK EXCHANGE NEITHER APPROVE NOR DISAPPROVE THE CONTENTS OF THIS NEWS RELEASE.
STATEMENTS CONTAINED IN THIS NEWS RELEASE THAT ARE NOT HISTORICAL FACTS ARE
FORWARD-LOOKING STATEMENTS AS THAT TERM IS DEFINED IN THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. SUCH FORWARD-LOOKING STATEMENTS ARE SUBJECT TO
RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM ESTIMATED RESULTS. SUCH RISKS AND UNCERTAINTIES ARE DETAILED IN FILINGS WITH
THE SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN
WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE: AZCO Mining Inc. |
