Lima, Peru, April 25, 2013 (GLOBE NEWSWIRE) -- Lima, Peru, April 25, 2012 -- The Graystone Company(OTCQB: GYST) announced today the Company's joint venture in Suriname has completed its initial bulk sampling at site #1. The Company processed approximately 150 tons and initial results are very promising. The Company expects to complete the wash out of the 150 tons that were processed on Friday and will update shareholders on Monday with the results. The results are expects to be equal to or exceed the Company's projections.
The joint venture will be conducting bulk sampling in 4 areas to determine the optimal location to begin its next phase of operations. The Company expects the bulk sampling to take 8-12 weeks. During the bulk sampling phase the Company expects to process only 5-10 tons per hour. Once the bulk sampling phase is completed, the joint venture will determine the optimal location to begin the next stage of production. Once the optimal location is determined, the Company expects to process approximately 75 tons per hour.
The Company has uploaded additional photos from the Suriname project on its Facebook page.
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. The Company sells gold and silver to retail buyers via www.graystonegold.com.
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.
Source: TheGraystone Company, Inc.