Clifton Mining Company (OTCBB: CFTN) (Clifton) - "New Permits and Gold and Silver Production Report"
On February 2, 2021, Clifton Mining Company announced the acquisition of two new small mine permits for the Lost Mine Road and Cactus Mill areas. These permits enhance Clifton's strategic position within its silver/gold system, which includes over 4.8 million ounces of silver and 26,000 ounces of gold. With five permits now secured, Clifton is well-positioned for future mining operations. Additionally, Desert Hawk Gold Corp. reported mining activities that yielded 119 ounces of gold and 109 ounces of silver in December 2020, with significant recoverable resources remaining.
- Acquisition of two new permits enhances mining capabilities.
- Significant measured resources: 4.8 million ounces of silver and 26,000 ounces of gold.
- Total of five small mine permits held, allowing for potential expansion.
- None.
AMERICAN FORK, Utah, Feb. 2, 2021 /PRNewswire/ - New Permits - Clifton Mining Company has just been issued two new small mine permits from US and State Government agencies. The new permits were issued on the Lost Mine Road Mine and the Cactus Mill areas. Said Keith Moeller VP, Property Development, "These are important permits to now have in our hands and the timing of the granting of these permits could not have been better. The Lost Mine Road Permit is located within our Clifton shear zone silver/gold system, where geological analysis reported more than 4.8 million of ounces measured and indicated silver resources and 26,000 ounces of measured and indicated gold resources, which only covers a small percent of the visible outcrops." (See website for more resource information).
These new permits also give Clifton an important advantage for future planning and for joint venture options with the required base work now completed. In total, Clifton now holds five (5) small mine permits, including one on Clifton's patented high grade Cane Springs historical gold mine, where drilling intersected a number of high-grade gold intercepts. Each of these permits can be expanded to up to 20 acres, sufficient for large scale mining operations.
Exploration, Development, and Production - Clifton Mining Company has received the report that for December 2020, Desert Hawk Gold Corp. (Desert Hawk) sold 119 ounces of gold and 109 ounces of silver recovered from the leach pad. They also drilled 807 holes, crushed 21,386 tons of ore, added 238 recoverable ounces to the leach pad, and estimate that they have 4,957 recoverable ounces of gold remaining on the leach pad. Clifton owns 5.81 million shares of Desert Hawk.
Please see the Company's website 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.
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SOURCE Clifton Mining Company
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