Clifton Mining Company (OTCBB: CFTN) (Clifton) - "August Update"

Rhea-AI Summary

Clifton Mining Company announced positive updates on its operations. Desert Hawk Gold Corp. reported selling 356 ounces of gold and 355 ounces of silver in July 2021, with an estimated 1,073 ounces of gold added to the leach pad. Notably, the average gold ore grade on the leach pad increased from 0.0166 to 0.0359 ounces per ton. Additionally, ABL Manufacturing completed a new 60,000 square foot facility for producing Silver Biotics® products. Clifton holds a 5.81 million shares stake in Desert Hawk and 17.5% in American Silver, LLC, trading under the ticker CFTN on OTC Markets.

Positive

• Desert Hawk sold 356 ounces of gold and 355 ounces of silver in July 2021.
• Estimated 1,073 ounces of gold placed on the leach pad, with 4,692 recoverable ounces available.
• Average blasted gold ore grade increased from 0.0166 to 0.0359 ounces per ton.
• ABL Manufacturing completed a new 60,000 square foot cGMP certified facility.

Negative

• None.

AMERICAN FORK, Utah, Aug. 31, 2021 /PRNewswire/ - Exploration, Development, and Production - Clifton Mining Company has received the production and sales report from Desert Hawk Gold Corp. (Desert Hawk) for the month of July 2021.  Desert Hawk reported that during the month they sold 356 ounces of gold and 355 ounces of silver.  These precious metals were all recovered from the leach pad.  During the month, they also estimated that an additional 1,073 ounces of gold was placed on the leach pad, with an estimated 4,692 recoverable ounces of gold still on the pad.  The average blasted gold ore grade in ounces per ton (opt) going on the leach pad also had a significant increase, going from a diluted ore grade of 0.0166 (opt) in June, to 0.0359 (opt) in July.  Clifton owns 5.81 million shares of Desert Hawk, as well as the property on which the operation resides.

New Manufacturing Facility Completed - ABL Manufacturing, LLC, a wholly owned entity of American Silver, LLC, has completed the construction of its processing and production rooms in its new 60,000 square foot facility.  This cGMP certified facility, is now producing the full line of Silver Biotics® products, including supplements, cosmetics, and ABL Medical, LLC's FDA Cleared wound dressing products.  ABL Manufacturing also produces private labeled and other contract manufactured products.  For more information on American Biotech Labs products, please see https://silverbiotics.com, for ABL Medical, LLC products, please see https://www.ablmedical.com, and for ABL Manufacturing, LLC products, please see https://ablmfg.com. Clifton currently owns 17.5% of American Silver, LLC.

Please see the Company's website https://www.cliftonmining.com for additional Company information.  Clifton trades on the OTC Markets under the symbol: "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.

View original content:https://www.prnewswire.com/news-releases/clifton-mining-company-otcbb-cftn-clifton--august-update-301365807.html

SOURCE Clifton Mining Company

FAQ

What were the gold and silver sales figures for Clifton Mining's partner in July 2021?

Desert Hawk Gold Corp. reported sales of 356 ounces of gold and 355 ounces of silver in July 2021.

What was the estimated amount of recoverable gold on the leach pad reported in August 2021?

An estimated 4,692 recoverable ounces of gold were reported still on the leach pad.

How much gold was added to the leach pad in July 2021 according to the press release?

An estimated 1,073 ounces of gold was placed on the leach pad in July 2021.

What is the stock symbol for Clifton Mining Company?

Clifton Mining Company trades under the stock symbol CFTN on OTC Markets.

What is the significance of the new manufacturing facility completed by ABL Manufacturing?

The new 60,000 square foot cGMP certified facility is now producing Silver Biotics® products and other contract manufactured products.