next events are lined up
October 2011 - Process ore from Company mines
December 2011 - First operating revenue
Projects:
Brooklyn Mine
Approximately 600 acres of patented and unpatented claims located along the historic Brooklyn Mine. Since its discovery around 1900, the Brooklyn Mine has consistently produced exceptionally high-grade gold ore. An historic resource estimate of $13.8 million (14,535 ounces of gold times $950 per ounce) at a grade of 0.69 ounces per ton contained in two established and accessible ore shoots.
King Solomon Mine
The King Solomon Mine is located on the southern flank of King Solomon Mountain, just a few hundred yards up the mountain from the first discovery of gold in the San Juan Mountains in Little Giant Basin. Opened in 1876, the mine was in production until 1883. The King Solomon Mine located within 2 miles of the Company's Pride of the West Mill.
Pride of the West Mill
A modern gravity and flotation mill with up to-700 tons per day capacity. It is located within nine miles of all three mines, and is the only mill in the area. Toll milling for neighboring mines provides an additional revenue stream and the opportunity for future joint venture or acquisition opportunities
The Company is exploring extensive surface and subsurface, high-grade mineralized zones at the Silverton mines. Based on the results obtained from Colorado Goldfield's current early-stage exploration investment, the stage will soon be set for the dramatic next steps in the journey from discovery to determination of an economical ore body. At that stage, Colorado Goldfields will be able to exploit the advantages of its recent purchase of the Pride of the West Mill, which will allow for a shorter term production timeframe.
Colorado Goldfields is also currently considering the acquisition or staking of other new properties in the San Juan County Mining District.
