Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
BRADENTON, FL–(Marketwire – Jan 11, 2013) – Silver Falcon Mining, Inc. (OTCBB: SFMI) reports on its mining and milling operations, as management remains bullish on anticipated 2013 activities.
The Company’s Diamond Creek Mill’s designed gravity feed circuit has been temporarily shut-down for its yearly heavy maintenance and component recalibrations. At the same time, the integration of the new floatation cell circuit is being added as a new component to the existing mill circuitry. Early testing of tailings material, from the floatation cells, reveals a significant improvement in recovery values of ALL precious metals. Management feels that once the flotation circuit is fully operational in the ensuing weeks, this will greatly improve bottom-line for the 2013 operational year.
The “Conditional Use” application for full implementation of the permitted closed-loop leaching system remains on-going and on scheduled without delays.
Further, management reports that work on the permanent storage of mill tailings will begin in earnest.
Diamond Creek Metallurgical Lab
The Company’s metallurgical laboratory building which contains, the Bullion Dore facility, the lab facility and the secured vault, has been fully erected. Company workers are finishing the remaining interior architectural components, allowing this facility to be fully operational.
Sinker Tunnel Gold Project
The Company has been working within the Sinker Tunnel Gold Project as per directives approved by SFMI’s Board of Directors. Due to mining rules, only SFMI personnel will be allowed inside the fenced in parameter of the project. As drilling, bolting, shoring, and exploration proceeds over the upcoming months, management will report as necessary on these operational developments.
Management remains excited about the fact that these are the first mining activities on War Eagle Mountain in over a century.
Pierre Quilliam, CEO, states, “After two years of efforts, both at the mill site and at the Sinker, it is very gratifying to see our efforts maturing. From a barren 20-acre site, the Diamond Creek Mill Facility has risen into an agglomeration of infrastructures, buildings, and equipment. The Company has one objective, to extract and deliver as much precious metals to the world markets as we can produce profitably from our holdings.” He further mentions, “This is the year where production will become the mainstay of SFMI’s objectives and operational motives. This in turn should deliver significant revenue to the Company and growth of shareholder values.”
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 1,200 acres on War Eagle Mountain in southern Idaho; Its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel to facilitate underground mining of the rich veins crisscrossing the mountain and providing the area population with employment and services.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.
Silver Falcon Mining, Inc., SFMI, cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Rich Kaiser
Investor Relations
757-306-6090
