DNI METALS INC. (DNI : TSX-V)(DG7 : Frankfurt)
TORONTO, July 10, 2015 /CNW/ - See below a press
release yesterday from Clifton Mining. DNI metals owns
a .5% net smelter royalty on the Kiewit gold Project in
Utah.
Desert Hawk Mining, Clifton's partner at Kiewit, has just
received approval to expand the current Kiewit open pit operations
to the east. This should roughly double the size of the pit,
substantially increasing both the rate of production and the mine
life.
New drilling, revealing a continuation of the grades of the open
pit to the east of current operations, shows that the system is not
limited to the immediate area of the current pit. This has
confirmed the potential for the deposit to be significantly larger
than had previously been anticipated. As Rick Havenstrite,
president of Desert Hawk, put it: "All that has been previously
known is that the mineralized structures from the Kiewit pit
outcrop 500 feet to the east of the original pit. Due to
topography it has not been previously feasible to drill in this
area. We have been working for two weeks to develop a haul
road and pre-strip the new zone. The haul road is complete
and the first production drill pattern was shot this week.
About 50,000 tons of waste has already been removed.
Based on this drilling we have confirmed the geologic
continuity. The deposit remains wide open in nearly every
direction." We expect further drilling to produce a certifiable
resource by this time next year.
Torrential rains this spring, unusual for this desert area, have
diluted the chemicals used to extract the gold and have slowed
recoveries. With the return of normal weather, more gold
bearing rock is being loaded onto the leach pad and recoveries are
improving. Clifton is looking to release new production
numbers before the end of the summer.
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
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 29,186,204 common shares
We seek Safe Harbour. This announcement includes forward
looking statements. While these statements represent DNI's best
current judgment, they are subject to risks and uncertainties that
could cause actual results to vary, including risk factors listed
in DNI's Annual Information Form and its MD&As, all of which
are available from SEDAR and on its website.
SOURCE DNI Metals Inc.