All Grade Mining, a development stage company focused on the extraction of iron ore, has provides an update to its shareholders regarding the company's progress on its Salitrosa iron mining project in Chile.

All Grade Mining anticipates receiving final approval from the Chilean government for its filed Salitrosa project permit applications in the very near future. Once this process is complete, the company will immediately begin the contracting process for a third party excavator to begin site preparation for production on its Salitrosa property. All Grade expects to begin mining operations in the 3rd quarter of this year and, at full capacity, produce and mobilize 150,000 tonnes per month of iron ore.

Results of survey and trenching work performed on the Salitrosa property have indicated anomalies throughout the property potentially in excess of 40 million tonnes. The company has recently completed a feasibility study on the property, which yielded positive results regarding the design, manufacture, install and operation of a plant to produce 50,000 tonnes per month of iron ore on the site of its Salitrosa Project.

The Salitrosa project will involve an open pit mine and a dry magnetic concentration plant for the potential production of 200,000 tonnes per month of iron ore concentrates with an average grade of 63.5%. The Salitrosa property is comprised of 23 separate mines and is located within 40 to 60 kilometers of inactive maritime concessions that could become proprietary to All Grade Mining. The property is also within 18 kilometers of a national railway to which it could easily be connected by short line spur.

Source - All Grade Mining Inc

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