Clifton Mining Company Inc. (OTC : CFTN) - A New Discovery Plus Permitting Progress
Mining: A New Discovery Plus Permitting Progress
ALPINE, UT, Jan. 18, 2012 /PRNewswire/ - Desert Hawk Gold Corp. [DHGC], Clifton's joint venture partner, has discovered what may be an additional gold deposit in our claim area. The surface area of the deposit, 900 feet by 600 feet, is three to four times the surface area of the Kiewit deposit, and from 75 surface samples, the grades appear similar. DHGC has now received 20 of the 22 permits and licenses necessary to put the Kiewit project into production. It is working with both the Utah Department of Oil, Gas, and Mining and the U.S. Bureau of Land Management to obtain the final two. Once these permits are received, DHGC is planning to put the Kiewit project into production, and also to explore and develop this new project.
Clifton received another cash disbursement from American Silver, LLC, a private silver products company in which Clifton owns approximately 21%. The cash disbursement was the second for the 2011 year, and the check was for more than $100,000. While year-end numbers have not been released yet, it appears that American Silver, LLC showed strong growth in 2011.
Clifton trades on the U.S. OTC: (CFTN).
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.
SOURCE Clifton Mining Company