ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce
that commissioning of the Lordsburg mill has proceeded as planned and is
now running two shifts per day, five days per week. Santa Fe expects to
ramp up production from the Summit gold-silver mine to 120,000 tons of
ore per annum by the end of 2010.
“We are
producing high value concentrate (averaging 10 ounces of gold per ton
and 600 ounces of silver per ton) from Summit ore and are in final
negotiations with two major smelters.”
Pierce Carson, President and Chief Executive Officer, stated, ???We are
producing high value concentrate (averaging 10 ounces of gold per ton
and 600 ounces of silver per ton) from Summit ore and are in final
negotiations with two major smelters.???
About Santa Fe Gold:
Santa Fe Gold is a U.S.-based mining and exploration enterprise focused
on acquiring and developing gold, silver, copper and industrial mineral
properties. Santa Fe controls: (i) the Summit mine and Lordsburg mill in
southwestern New Mexico; (ii) a substantial land position at the
Lordsburg mill, comprising the core of the Lordsburg Mining District;
(iii) the Ortiz gold property in north-central New Mexico, estimated to
contain two million ounces of gold; (iv) the Black Canyon mica mine and
processing facility near Phoenix, Arizona; and (v) a large resource of
micaceous iron oxide (MIO) in western Arizona. Santa Fe Gold intends to
build a portfolio of high-quality, diversified mineral assets with an
emphasis on precious metals.
To learn more about Santa Fe Gold, visit www.santafegoldcorp.com.
Forward Looking Statements:
The information contained herein regarding risks and uncertainties,
which may differ materially from those set forth in these statements, in
addition to the economic, competitive, governmental, technological and
other factors, constitutes a ???forward-looking statement??? within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended, and the
Private Securities Litigation Reform Act of 1995 and is subject to the
safe harbors created thereby. While Santa Fe Gold believes that the
assumptions underlying such forward-looking information are reasonable,
any of the assumptions could prove inaccurate and, therefore, there can
be no assurance that the forward-looking information will prove to be
accurate. Accordingly, there may be differences between the actual
results and the predicted results, and actual results may be materially
higher or lower than any of those indicated in the forward-looking
information contained herein.