The Quartzite Creek Placer Property is located in the Omineca Mining Division of British Columbia, Canada: Approximately 22.4 miles (36km) northeast of Takla Landing.
The Harris Creek Placer Gold Property is located in the Vernon Mining Division of British Columbia, Canada: Approximately 3.7 miles (6km) southwest of Lumby.
ALBUQUERQUE, N.M., Feb. 20, 2018 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation (OTC:SFEG), a U.S. based mining and exploration enterprise with emphasis on Gold, Silver, Copper, Precious, Industrial and Base metals and owner of multiple claims, including the Malone Mines complex incorporating 20 associated mine sites, the Playas Lake Bed area of Hidalgo County, New Mexico and Bullard's Peak Corporation and Black Hawk Consolidated Mines incorporating AG1 Silver mine along with a potential major Porphyry Silver discovery and additional deposits of Cobalt, Lithium, Manganese and Nickel along with the Sunset Lode and Placer Lode Gold and Silver Deposits located in Pinos Altos Gold, is pleased to announce it is acquiring The Quartzite Creek Placer and The Harris Creek Placer Properties, both with a history of Gold production and near term production potential for a total consideration of C$400,000 Canadian Dollars, ~ (US$318.000). C$171,000 Canadian Dollars has already been paid including funds currently under transfer with additional permitting fees due this week and the remainder will be completed in monthly payments. Per our previous release: "Mining and Production Permit Applications" are also expected to be submitted this week.
About British Columbia, Canada
Mining is one of British Columbia's safest heavy industries, and the Province is committed to ensuring that B.C. remains a world leader in mine health and safety practices. The Province is also committed to ensuring that B.C. remains a leader in mining regulation and oversight, while enhancing responsible resource development. (Source: https://www2.gov.bc.ca/gov/content/industry/mineral-exploration-mining)
President and CEO Tom Laws Comments
In keeping with its mission to acquire exceptional high-quality mining properties with near term production potential, Santa Fe Gold Corporation adds two foreign mining properties in a predominant mining friendly jurisdiction to its growing portfolio of near term producing mines.
We believe these two gold mining properties have the potential to become significant producers and can become early contributors to Santa Fe Gold's bottom line. Canada is a World class mining nation, rich in resources and major contributor to global gold production.
About Santa Fe Gold
Santa Fe Gold is a U.S.-based mining and exploration enterprise and owns the following mining assets: The Knight’s Peak region of Grant County, New Mexico comprising the Malone Mines, Patanka, Hillcrest, Barranca and Principal Mines, altogether incorporating some twenty mine sites and all located at Knight’s Peak, together with an expanded area surrounding the Malone Mines in the southern region of Burro Mountains, New Mexico. The company also owns very significant holdings in the Playas Lake Bed Area of Hidalgo County that includes the presences of Titanium ore and rare earth minerals and deposits. It also recently completed acquisition of Bullard's Peak Corporation and Black Hawk Consolidated Mines incorporating AG1 Silver mine along with a potential major Porphyry Silver discovery and additional deposits of Cobalt, Lithium, Manganese and Nickel. The Company coincidentally added the Sunset Lode and Sunset Placer Gold and Silver Deposits located in the Pinos Altos District of Grant County, New Mexico to its growing portfolio of precious and base metals and mineral assets. Substantial amounts of historical data outlining Santa Fe Gold's exceptional high grade Silver and Gold Mines with surrounding and nearby deposits along with significant occurrences of Cobalt, Lithium, Manganese, Nickel and other Rare Earth Discoveries are continuing to be analyzed, surveyed, evaluated and assessed for additional values and most efficient mining plans in order to facilitate near term production and develop a comprehensive estimate of independently assessed valuations which are expected to be released soon.
Santa Fe Gold’s Exploration and Development Team continues to be very active regarding exploration, surveillance, research, acquisition of multiple additional properties as it finalizes analysis of and decisions relating to a number of additional attractive and economically viable new prospects.
The company continues to execute on its aggressive acquisition program that is totally focused on positioning Santa Fe Gold to resume mining and production operations from multiple sources expected in the near to medium term.
For more information and to register for updates:
Please visit www.santafegoldcorp.com.
Frank Mueller, CFO