Clifton Mining Company Inc. (OTC : CFTN)
ALPINE, UT, Dec. 6, 2012 /CNW/ - The management of Clifton is continuing
work in two areas, the Lucky Jim and the Alvarado. Both have been
high-grade gold mines, and we believe we have found extensions of the
Assays on and around the Lucky Jim have been characterized by a nugget
effect, with trench samples showing values ranging from 0.04 ounces per
ton gold to over two ounces per ton, but with seven of the fifteen
10-foot trench samples averaging better than one ounce per ton.
William Moeller, chairman of Clifton, said: "Given so wide a variance
in sample values, it is difficult to estimate the average grade. We are
extracting several 20-ton bulk samples to minimize the nugget effect,
while at the same time working with an extractive metallurgist to
maximize the economic extraction of the gold."
Work on the Alvarado seeks to extend the historic workings, where one of
the mine supports assayed at more than 60 ounces of gold per ton.
Intense scrutiny of the area has led to the discovery of what appears
to be a continuation of the original ore zone. The potential
continuation has been opened up with large machinery, and we have
obtained a five-acre mine permit. Subsequent assays have shown
substantial amounts of gold along the newly-exposed strike, with
several in the multiple ounce range. We have put in a new mine portal
to open the potential deposit for bulk testing.
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:
Dr. Ken Friedman, President at 303-642-0659, William Moeller, Chairman at 801-756-1414, or see the website at www.cliftonmining.com.