Clifton Mining Company Inc. (OTC : CFTN)
February 18 2010 - 7:00AM
PR Newswire (US)
ALPINE, UT, Feb. 18 /PRNewswire-FirstCall/ -- Clifton's Management
would like to update shareholders on the progress made in the joint
venture with Desert Hawk. Desert Hawk has now been working on the
property for 6 months, reviewing previous work and doing their own
drilling. They have now affirmed their position stating, "Our
objective is to produce the resources based on the existing data
supplemented with our own confirming work." They are already moving
forward on a multi-staged approach to production. The first stage
is a high-grade copper/gold heap leach at the Clifton mill site.
The mill site has been cleaned and prepared for the construction to
begin on the two acre pad. Permit adjustments have been filed and
we are awaiting approvals. Desert Hawk has budgeted $1 million to
bring this area into production, having reported that it is common
to find copper grades exceeding 3%, gold values ranging from 0.3
ounce per ton (opt) -.50 opt and silver at 1 opt or more. The
second stage includes the construction of an 800,000 square foot
heap leach pad and process facility for the Kiewit project. Desert
Hawk has budgeted $3.3 million for this project and has written:
"We anticipate 20,000 ounces of gold will be produced in the first
2 years with more thereafter." This could be supplemented with ore
from nearby locations. Said Clifton management, "We have been
impressed with both the quality and the amount of work completed by
Desert Hawk in just the first six months of the joint venture. We
look forward to updating our shareholders in the next few months
with respect to additional permitting and construction on the two
pads." Clifton trades on the U.S. OTC: (CFTN). Note: Any statements
released by Clifton Mining Company that are forward looking are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Editors and investors are
cautioned that forward looking statements invoke risk and
uncertainties that may affect the company's business prospects and
performance. DATASOURCE: Clifton Mining Company CONTACT: Dr. Ken
Friedman, President at (303) 642-0659; Keith Moeller, Vice
President at (801) 756-1414 or see the websites at
http://www.cliftonmining.com/
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