Eureka, Utah, June 18, 2020: Tintic Consolidated Metals LLC (the “Company” or “TCM”), a Delawa reregistered company, is pleased to announce the grand re-opening of the Trixie gold and silver mine located in the historic East Tintic District in Juab and Utah Counties, Utah. TCM acquired a 14,000+ acre land package comprising most of the East Tintic mining district in June of 2019. This district has been mined successfully for over 150 years, but the last mining was conducted in 2002.
TCM has begun the rehabilitation of the Trixie mine on this property, with the intention to conduct an aggressive underground exploration drilling program as a prelude to reinitiating production. Today, the Company is pleased to announce that its underground drilling has commenced. The Trixie mine comprises extensive underground workings on 6 different levels, ranging from 625 ft to 1350 ft. The Trixie main shaft already has been completely refurbished to the 750 ft level, which opens up the first two levels to development.
“Today is a historic day for the people of Eureka and surrounding communities, as well as for TCM,” said Thomas Bowens, CEO of TCM. “The re-opening of the Trixie mine is the first step in what we intend to be a long-term commitment to re-establish the East Tintic District as a significant mining center. The Trixie mine is the only underground hard-rock mine operating in the State of Utah. We are employing dozens of people from the local communities in well-paying jobs, and we look forward to expanding our labor force as we begin initial production from Trixie, which should be next year.”
Chief Executive Officer
Tintic Consolidated Metals LLC
Tintic Consolidated Metals LLC (TCM) is a joint venture between IG Tintic LLC, a Nevis-registered LLC and Chief Consolidated Metals Corporation (CMCC), an Arizona-registered corporation. TCM was formed in June 2019, and under the terms of its Operating Agreement and subsequent amendments, IG Tintic LLC owns 75% of the joint venture, while CCMC owns 25%. TCM holds the mineral rights to a consolidated land package of approximately 14,000 acres in the East Tintic mining district spanning Juab County and Utah County, near the town of Eureka, UT. TCM also holds approximately 7,000 acres of surface rights within this land package. There are 23 past-producing mines on this property, but no mining operations have been conducted since 2002. TCM’s current focus is on the rehabilitation of one of these mines, the Trixie mine.
For additional information:
Tintic Consolidated Metals LLC
Mine Site Office15988 Silver Pass Road
PO Box 195 Eureka, UT. 84628-0195
This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Tintic Consolidated Metals LLC or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Cautionary Statement Regarding Forward Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities laws. These forward-looking statements generally can be identified by phrases such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” occur. Such forward-looking statements include, but are not limited to, those relating to the re-opening of the Trixie mine. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. TCM assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.