Scalada Holdings, Ltd. Announces Additional Testing of Precious Metals, including PGM, in Nevada
Scalada Holdings, Ltd., along with its wholly-owned subsidiary Titan Holdings Inc., recently successfully tested for precious metals at two sites and at various depths in the Reno, Nevada area.
- (1888PressRelease) September 08, 2013 - Singapore - Manly Logan, CEO of Scalada Holdings, Ltd., (www.scaladaholdings.net) and its wholly owned subsidiary, Titan Holdings, Inc. announced today that following last week's announcement that Scalada had been approached by a Nevada, USA based company in need of a producer of precious metals that the company has begun significant testing at different sites and depths. Until recently, Scalada has been mostly involved in establishing such processing lines onsite for other companies. The proposed facility will not only produce precious metals but will also include ore sampling and assaying capabilities.
The two sites, located within 50 miles of each other, are located in the Palomino Valley area of Nevada, near the city of Reno. Initial testing has included sampling at ten different depths from 2 feet (0.61 meters) to 8 feet (2.44 meters). Samples have been brought to the lab to determine which are the best concentrations to continue working on.
Nevada is known as a mining friendly state, which makes Scalada's investment there all the more effective. High precious metals prices have given rise to the re-opening of historic mines, but there is a shortage of processing capacity. In dollar value, annual precious metals output increased over 200 times, from about $9 million in 1965 to over $2 billion each year from 1989 to 1992. After declining some between 1989 and 1992, precious metal exploration remained relatively constant through to the end of the decade.
Nevada's gold production makes the United States the second leading gold producing nation in the world, and published Nevada gold reserves at the end of 1999 total about 143 million ounces. Some of these may prove to be sub-economic and may never be mined, but reserves probably are sufficient to sustain the gold mining industry for at least another 15 to 25 years. At the end of 1999, Nevada's silver reserves totaled about 235 million ounces.
The current testing also includes PGM (Platinum Group Metals), a term used sometimes to collectively refer to six metallic elements clustered together in the periodic table. These elements are all transition metals, including ruthenium, rhodium, palladium, osmium, iridium, and platinum. In 2011, overall demand for PGM was 7.36 million ounces. Total refined platinum supply totaled 7.4 million ounces including 1.0 million ounces of recycled metal. The automobile industry accounted for 3.2 million ounces of demand as global demand increased with emerging markets (China, India ,and Brazil) continuing to see the most growth, while sales in the United States remained strong. Jewelry accounted for 1.9 million ounces of demand in 2011 with Chinese consumption accounting for close to 80% of global jewelry demand.
Scalada's CEO Logan expressed his satisfaction with the new developments: "All in all, we are very pleased with the arc of this diversification for Scalada. It bodes very well for the company's continued growth. "
About Scalada Holdings, Ltd.
Scalada Holdings, Ltd. is in the business of bringing green solutions to the global marketplace that produce sustainable outcomes through its wholly owned subsidiary, Titan Holdings Inc., a Nevada based environmental company. Scalada Holdings provides integrated solutions over a wide range of technologies, services and extensive knowledge to allow global institutions to meet their environmental goals.
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