Lima, Peru, May 21, 2013 (GLOBE NEWSWIRE) -- The Graystone Company(OTCQB: GYST) announced today that the Company processed approximately 200 tons on Sunday May 19th. The Company expects to continue the area until Thursday. At that time the Company will determine the amount of gold that was yielded.
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 4-8 weeks. During the bulk sampling phase the Company expects to process only 5-10 tons per hour.
Once the Company begins full production, the company expects to process approximately 75 tons per hour. The Company anticipates that the Suriname project will produce approximately 50 grams of gold per hour or 300 grams per day.
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.