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21.08.2014 18:15
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Standard Metals Processing, Inc. Announces Progress at Tonopah Property
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PR Newswire
TONOPAH, Nev., Aug. 21, 2014
TONOPAH, Nev., Aug. 21, 2014 /PRNewswire/ -- Standard Metals Processing, Inc. (OTCQB: SMPR) (the "Company") and Tonopah Custom Processing, Inc., ("TCP") (a subsidiary of Tonopah Milling and Metals Group, Inc., a subsidiary of the Company) announces progress on several fronts at the Tonopah Property.
We installed three monitoring wells and completed three rounds of background water testing (the Nevada Division of Environmental Protection ("NDEP") mandated Profile 1 water quality testing), satisfying NDEP's requirements.
TCP has contracted the drilling of the new process water well to Bruce MacKay Well Service in Reno, NV. A new Point Of Diversion ("POD") was chosen primarily for its proximity to our processing plant. "By moving the POD to within 500ft of the plant, we will reduce the overall installation costs as well as provide long term savings once operations commence," said Jim Stieben, President of TCP. "Currently we are on schedule to start the drilling of this new POD the last week of September or the first week of October."
Jim Stieben added, "This is a significant step forward for Tonopah Custom Processing and Standard Metals. Upon completion of the new process water well, we will have the capability to provide nearly 105,000,000 gallons of fresh water annually for our custom toll milling operations. Additionally, we are in the final stages of the engineering of our electrical substation. Although electrical service to our property is currently in place, the new electrical substation will provide our custom toll mill with sufficient power for operations as well as future growth."
The Company is in the final stages of negotiating a contract with NV Energy for a new service line to provide the necessary connections for up to 4000+ amps of power required for operations through our own newly-constructed substation.
During Q2, the Company engaged CivilWise Engineering to perform all civil engineering including the creation of a master site plan, a topographical study of the property, site drainage plans, sewer plans, vehicle access roadway and path plans and a soils and geology study.
In April 2014 a complete Concrete Batch Plant was purchased, including four cement trucks, to reduce the overall cost of construction activities on site. This purchase is estimated to reduce the overall cost of construction by at least $500,000.00.
There is a severe housing shortage in the Tonopah area. Any available lodging has become increasingly expensive. In order to efficiently continue the rapid growth and improvements upon the Tonopah property, the Company completed a newly constructed and landscaped 5-space RV park complete with laundry facilities. The RV park allows us to house our construction contractors and provide onsite housing for future employees at significant cost savings. The RV park was designed to easily allow future expansions for up to 10 independent RV spaces. The new water supply, septic and upgraded electrical systems will supply each RV space with full utility hook-ups independent of our milling operations. The RV park was finished in Q2 2014.
About Standard Metals Processing, Inc.
Standard Metals Processing, Inc. is a developing, Nevada-based, custom toll milling and processing company that facilitates the extraction of precious, strategic minerals from mined material.
Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Standard Metals Processing, Inc.
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