Silver Falcon Mining, Inc. (SFMI) Launches Its 2011 Sinker Tunnel Plan of Operation
03.11.2010 | Marketwire
Murphy, November 3, 2010 - Silver Falcon Mining, Inc. (OTCBB: SFMI) announces that following the completion of the aeration and visual inspection of its 100% owned Sinker Tunnel, the Company will move forward throughout 2011 with an extensive program of underground exploration. Because of the Sinker Tunnel's physical and geological locations, the Company's geological and engineering teams will have year-round access to the numerous ore bearing veins contained within War Eagle Mountain.Marshalling of equipment needed to support the operation will go on during the course of this winter and a review of this plan of operation by the authorities involved should result in issuances of the necessary underground exploration permits.
Management believes that within the next 18 months, this Sinker Tunnel Exploration program will achieve a number of important goals for SFMI:
* First, an exploratory drilling program will allow the geological and engineering teams to establish the value and locations of the ore bodies and will result in SFMI having a proven reserve value which can then be listed on the Company's financials.
* Second, the results and collating of the information gathered by the geological and engineering teams will be the basis for completing and submitting of the Canadian National Instrument 43-101 (NI-43-101) declaration and application for a listing on the Toronto Stock Exchange.
Additionally, SFMI received request by the Bureau of Land Management to better secure the Great Western and the Cape Horn #1 adits which will result in some winter work on these particular claims, so as to satisfy the authorities.
Our Diamond Creek Mill has been inspected by MSHA and, apart from a few minor deficiencies which have been immediately corrected, has passed inspection.
As of its recent announcement, October 27, 2010, the Company awaits its first CASH REVENUE to be received off a shipment of ore bearing concentrate to a smelter.
War Eagle Mountain is a Gold/Silver property on which Silver Falcon Mining, Inc. has the developmental and operating rights to (14) deep-shaft mines covering the Mountains' primary epithermal Gold and Silver-producing veins. War Eagle Mountain has produced approximately 415,000 oz of Gold-equivalent to date, worth $ 270 Million.
The War Eagle mines are adjacent to the open-pit Gold and Silver mines of DeLamar Mountain and Florida Mountain, and are south of Boise, Idaho, in the Silver City Mining District. The DeLamar Mountain open-pit operation produced approximately 67 Million oz of Silver, and 1 Million oz of Gold, worth $ 1.6 Billion.
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit www.silverfalconmining.com
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and makes no 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
800-631-8127