Clifton Mining Company (CFTN)

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$CFTN Clifton Mining Company (OTCBB: CFTN) (Clifton) - "January 2023 Report"

https://www.prnewswire.com/news-releases/clifton-mining-company-otcbb-cftn-clifton--january-2023-report-301720147.html


AMERICAN FORK, Utah, Jan. 12, 2023 /PRNewswire/ - Extension Permit Granted – After more than two years of work, Desert Hawk Gold Corp. ("DHGC") has now received a significant extension to its Kiewit mining lease from the Bureau of Land Management (BLM). This extension lease quintuples the total allowable material to be mined from 2 million tons to 10 million tons. It also increases the permitted mining rate by 75%, from 1 million tons per year to 1.75 million tons per year and it doubles the minable area from 101 acres to 203 acres, with and additional extension in the pit and waste area from 38.5 acres to 80.9 acres. The permit also approved an increase in heap leach area disturbance from 19.5 acres to 65.5 acres, which can be bonded in 4 expansion phases. DHGC will currently be bonded for only the initial 19.5 acres of heap leach area but will only need to submit additional bond money when expanding the heap leach area in the future. The permit also includes an additional location for a second water well, four (4) additional horizontal cascade tanks, and increases the life of mine timeframe from six (6) to 10 years.

Production - Clifton has received the production report from DHGC for August to November of 2022, however, the numbers below do not include October, because no metal sales were made during that month. For these months ending November, 2022, Desert Hawk sold a total of 819 ounces of gold and a total of 910 ounces of silver recovered from the leach pad. They also estimate that at the end of November 2022, there was 2,495 recoverable ounces of gold remaining on the leach pad.

Clifton trades on the OTC Markets under the symbol: "CFTN". For phone contact, please feel free to call Dr. Ken Friedman, President, at 303-642-3134.