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Pre-Production Clean Up Has Been Completed At The Jim Crow Mine Section And A New Filtration Pond Has Been Built
Company expects to commence mining operations as soon as practicable once preparation of ore bodies for mining is completed and ore stockpiling begins ahead of shipment.
ALBUQUERQUE, N.M., Jan. 29, 2019 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation OTC (SFEG), a U.S. based mining company and owner of multiple mining claims, is pleased to announce progress towards the startup of mining operations, pre-production clean up and completion of construction of a new filtration pond.
An older pond site has also already been 90% reclaimed. We look forward to being able to announce the startup of ore production and shipments to smelters.
Chairman Brian Adair Comments
We are very pleased to announce operations are underway at our Jim Crow mine site and will keep you appraised of developments as progress continues.
We look forward to the completion of all of our SEC filings, paving the way for full compliance as soon as practicable.
About Santa Fe Gold
We are a mining company engaged in the business of acquisitions and intended development of mineral properties.
The Company has also acquired rights to five patented claims and 82 unpatented claims in the Black Hawk district of New Mexico, acquired rights to four placer claims in British Columbia, Canada and owns an aggregate of 42 unpatented claims located in Grant County, New Mexico and Hidalgo County, New Mexico (including Pinos Altos claims).
We require capital to complete the purchase and future development of our current mining properties, fund working capital needs, and fund contemplated acquisitions. There can be no assurance that the required capital can be raised. Failure to obtain the necessary capital to complete the purchase and future development of our current mining properties will materially impact our operations.
This release may contain certain “forward-looking” statements, which represent the Company’s expectations or beliefs, including but not limited to, statements concerning the company’s planned operations, financial condition, ability to obtain capital, and growth and acquisition strategies.
For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intent,” “intends,” “could,” “should,” “estimate,” “might,” “plan,” “predict,” “strategy” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements.
This information may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by any forward-looking statements.
For more information, investors should review the SEC filings on our website.
Please visit www.santafegoldcorp.com.
Frank Mueller, CFO