Lima, Peru, June 17, 2013 (GLOBE NEWSWIRE) -- The Graystone Company (OTCQB: GYST) announced today that the Company has identified a 2,400 hectares project in Suriname. The Company expects to begin exploration on the property in the next few weeks. The Company's plan is to conduct alluvial mining on the property while building out the infrastructure for a hard rock project in Suriname.
The Company has invest significant resources into Suriname and the Company's CEO, Paul Howarth, recently meet with staff from the US Embassy in Paramaribo, Suriname regarding expansion of the mining operations. Recently, Suriname has seen an increase in mining investment from larger companies such as Newmont Mining and Iamgold. The Company is expecting Suriname to become a major source of gold mining in South America. Estimates expect Suriname could increase its gold production to 30,000 kilograms up from 19,000 kilograms in 2011.
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.
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Source: TheGraystone Company, Inc.