ALBUQUERQUE, N.M., Sept. 11, 2020 (GLOBE NEWSWIRE) — Santa Fe Gold Corporation, (OTC PINK: SFEG) (“Santa Fe Gold,” “SFEG”, or the “Company”) is pleased to announce significant developments in its permitted mining operations at its Billali Mine, located in the Steeple Rock District, Grant county New Mexico.
The Company has now received a ground water discharge permit issued by the New Mexico Energy, Minerals and Natural Resources Department, Mining and Minerals Division, to discharge ground water from the Billali Mine. The receipt of this permit enables Santa Fe Gold to begin active development of the lower levels of the mine. This is particularly important because a lower level of the mine, the 230 level, is thought to be within 50 feet or so of historic diamond drill intercepts, reporting values as high as .45 oz/ton gold and 32.9 oz/ton silver over cored lengths of 8.5 feet.
Santa Fe is currently developing the 30 and the 130 levels of the mine. With the addition of this accessible 230 level, the Company will have achieved a major step along the way to developing a resource base sufficient to commission a floatation mill at its permitted crushing and screening site near Duncan, Arizona.
Brian Adair, the Company’s Chairman, added: “I would like to thank our experienced mining team for the excellent progress to date in development of both the Jim Crow and Billali mines. We look forward, in the near future, to additional announcements relating to our progress and ongoing developments.”
About Santa Fe Gold
We are an exploration mining company engaged in the business of the acquisition and development of mines and mining properties as well as production from existing and developed mining and mineral properties.
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