ALPINE, UT, Oct. 13, 2015 /CNW/ -
Desert Hawk has encountered a number of obstacles well beyond the standard ones confronted by most start-up heap leaches. Most notably, unusual torrential rains both interfered with the loading of ore and also diluted the lixiviant used to recover the gold. As a result, the ramp-up of production has been slower than initial estimates.
Still, Desert Hawk has produced nearly 4,000 ounces of gold, and Clifton's net royalty amounts to about $200,000. The rate of production is increasing, and we anticipate significant continued improvement, as more ore is loaded onto the leach pad and as recoveries increase.
The annual shareholder meeting has also been scheduled for Friday October 30, 2015, at 12:30 pm, at the Alpine Arts Center, which is located at 450 South Alpine Highway, Alpine, Utah (same place the meeting was held last year). Proxy information and other shareholder information has been mailed to all shareholders of record.
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
For further information: For additional information, contact Dr. Ken Friedman, President at 303-642-0659, or Keith Moeller at 801-756-1414, or see the website at www.cliftonmining.com.