SPARKS, Nev., Jan 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM) announces that its Technical Services Group has completed staking an additional 210 claims immediately to the south of the Ashdown molybdenum mine, located in Humboldt County, Nevada.
The claims, covering 4,200 acres of federal land, have been filed in the name of Golden Phoenix Minerals, Inc. and adjoin the southern boundary of the 193 claims recently staked by the Ashdown Project LLC. These 210 claims bring the area of mineral rights under the exclusive control of Golden Phoenix to over 6.5 square miles within the Pine Forest Range.
Wayne Colwell, Manager of the Technical Services Group, commented, "Our surface reconnaissance suggests that the potential for molybdenite and gold mineralization continues along trend to the south of the Ashdown Project LLC's land position. All 210 claims staked by Golden Phoenix lie outside the Area of Interest shared with our Ashdown Project LLC partner, Win-Eldrich Mines, Ltd. My technical staff felt it was important to secure the southern extension in order to preserve future exploration and mining options. With the staking completed, we will now address the development of an exploration strategy for these new claims."
The Golden Phoenix claim block covers the continuation of the outcropping quartz vein trend that hosts the Sylvia high-grade molybdenum deposit currently being mined by the Ashdown Project LLC. The new claim block extends several miles to the south where it encompasses the historic Adams gold mine in its entirety.
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