ALPINE, UT, Sept 09, 2010 /PRNewswire via COMTEX/ -- Clifton Mining's Partner, Desert Hawk Gold Corp, (DHG), has completed its $5MM funding to place the Clifton Properties into production.
DHG has also received the permits necessary to begin mining and milling. They have upgraded and doubled the size of the Cactus Mill, and they are currently moving waste in anticipation of the commencement of milling operations this month. DHG anticipates full scale commercial production by October 2010.
DHG will begin tuning the mill with other ore, for which Clifton will get a percentage, while mine development finishes on the Clifton mineral deposits.
Clifton and DHG are still awaiting the construction approvals for the two heap leaches that are planned for the area, including the Kiewit gold property leach. The plan is for multiple projects to be underway at the same time. The funding for that new construction is already in place. At current metals prices, when production begins from Clifton's properties, Clifton will receive an 8% NSR (Net Smelter Return) (12% NSR if gold is over $1250) on the precious metals and a 4% NSR on the non-ferrous metals produced from its properties.
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