ALBUQUERQUE, N.M., Sept. 11, 2020 (GLOBE NEWSWIRE) — Santa Fe Gold Corporation, (OTC PINK: SFEG) (“Santa Fe Gold,” “SFEG”, or the “Company”) is pleased to announce significant developments in its permitted mining operations at its Billali Mine, located in the Steeple Rock District, Grant county New Mexico.
The Company has now received a ground water discharge permit issued by the New Mexico Energy, Minerals and Natural Resources Department, Mining and Minerals Division, to discharge ground water from the Billali Mine. The receipt of this permit enables Santa Fe Gold to begin active development of the lower levels of the mine. This is particularly important because a lower level of the mine, the 230 level, is thought to be within 50 feet or so of historic diamond drill intercepts, reporting values as high as .45 oz/ton gold and 32.9 oz/ton silver over cored lengths of 8.5 feet.
Santa Fe is currently developing the 30 and the 130 levels of the mine. With the addition of this accessible 230 level, the Company will have achieved a major step along the way to developing a resource base sufficient to commission a floatation mill at its permitted crushing and screening site near Duncan, Arizona.
Brian Adair, the Company’s Chairman, added: “I would like to thank our experienced mining team for the excellent progress to date in development of both the Jim Crow and Billali mines. We look forward, in the near future, to additional announcements relating to our progress and ongoing developments.”
About Santa Fe Gold
We are an exploration mining company engaged in the business of the acquisition and development of mines and mining properties as well as production from existing and developed mining and mineral properties.
Contact Corporate Communications
505-255-4852
[email protected]
Forward Looking Statements
This news release may contain Forward Looking Statements included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
