Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary GracePoint Mining Corp, is pleased to announce that, in its partnership with Atlas Minerals Holdings II, the processing of mineralized tailings has begun at the Aldama Plant, located in Aldama, Chihuahua.
Additionally, the Joint Venture is pleased to announce that is has acquired control of 50,000 tonnes of tailings with gold / silver values that appear to be economic, based on limited initial sampling and recover-rate testing.
Processing at the Aldama Merrill Crowe processing plant will start a pilot-test run of tailings at the rate of 40 tonnes per day. If the gold and silver grades contained in the tailings confirm the vender's representations and the results of Gracepoint's limited initial sampling, the plant will continue to process these tailings until it reaches its full estimated "Phase 1" throughput capacity of 2,000 tonnes per month, which should occur before the end of the second month of operation.
GracePoint holds an exclusive tolling lease with the Aldama Merrill Crowe processing plant, including an option to purchase the company that controls the plant. The plant was completely refurbished in 2014, as a tolling facility, for the processing of local and regional ores and concentrates. The facility is in excellent condition, fully permitted, fully staffed, and immediately operational.
Additionally, the Joint Venture Agreement announced on November 7, 2016, has been terminated. All interest in the underlying project, the Cobriza Groupings, was returned to the previous owner.