GTSO Operations Consultant Moves Alaskan Tungsten Initiative Forward
SAN JOSE, Calif.--()--Green Technology Solutions (OTCBB:GTSO) mining subsidiary GTSO Resources announced today that the emerging company’s operations consultant, Kirk W. Bastian, recently met with a leading mineral expert in Alaska to discuss the analysis of the company’s black sands core samples.
In April, GTSO joint venture partner Diamond V Associates (DVA) sent black sands core samples collected in Alaska to ALS Minerals for analysis of their rare elements and precious metal content. In June, Bastian, DVA’s chief executive, met with one of the region’s top geologists to potentially discern the economic viability of tungsten recovery at the mining sites that the joint venture is currently exploring based on the results of the analysis of the June samples as well as future core samples from surrounding areas.
Bastian spent the past two and a half months evaluating new prospects, acquiring mining equipment and developing excavation operations in Alaska. The mineral-rich state is a region of prime interest for GTSO and DVA as the joint venture partners seek to develop potentially lucrative new tungsten mining operations.
If the sites currently being evaluated by the joint venture are determined to contain an economically promising amount of tungsten and other minerals, GTSO and DVA plan to proceed with excavation as quickly as possible. Rising demand for the super-hard metal coupled with dwindling supplies sent tungsten prices soaring more than 800 percent over the past 12 years, and the mineral’s scarcity is only expected to increase.
GTSO currently has two major projects under way. The first project is with its joint venture partner DVA exploring traditional mining operations in Alaska and Africa. The second project is exploring the booming urban mining industry in North and South America and has already engaged in initial talks with potential acquisition and joint venture targets.
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes FMC Corp. (NYSE: FMC), North American Tungsten Corp. Ltd. (TSXV: NTC), Newmont Mining Corp. (NYSE: NEM), and Rio Tinto (NYSE: RIO).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.GTSOresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html.
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Posted: July 17, 2012