Silver Falcon Mining, Inc. Brings in New Group; Awaits Independent Assay
15.07.2013 | Marketwire
BRADENTON, Jul 15, 2013 - Silver Falcon Mining, Inc. (OTCBB: SFMI) works with new professional mining group for tentative funding source and professional consulting and assistance. Currently, the Company's Diamond Creek mill facility has reopened as of July 8, 2013, and its staff is concentrating their efforts on preparing to float the 37,000 tons of material containing precious metals previously processed through the gravity circuit. A team of geologists from Canada are in route to do a professional sampling of the above material. Subject to their independent assay verification, this "Group" expressed an IMMEDIATE interest in arranging financing for the closed-loop leaching circuit unit and for a drilling program on and under the SFMI's War Eagle mountain mineral claims. Drilling will confirm and map the vein structures in these areas.Terms of the financing remain to be worked out, but the Company expects them to be favorable due to the high gold/silver contents in its material. Further information will become available when the Company finalizes these terms.
Sinker Tunnel
Work inside the Sinker Tunnel has been halted while the Company waits on the results of the above mentioned sampling.
Closed Circuit Leaching Unit
The Company is still negotiating toward a loan which will fully fund the building of the leaching circuit which was permitted by Owyhee County almost a year ago. These negotiations are on-going and management remains committed in receiving comprehensive terms for this leaching circuit. Management believes either current funding source negotiations or the aforementioned "Group" should facilitate funds for the Company.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 1,300 acres on War Eagle Mountain in southern Idaho. Its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Contact
Rich Kaiser
Investor Relations
757-306-6090