Santa Fe Gold Corporation, a U.S.-based mining and exploration enterprise, reports that it has acquired a perfectly located property in Duncan, Arizona, for building a planned ore processing mill.
The site is located nearly 15 miles from the mines situated in New Mexico and was selected as the regulations and permissions in Arizona are more favorable for the operations as scheduled when construction at the site is over. At present, the mill site encompasses 11.23 acres and has two building structures and truck scales.
Santa Fe Gold has obtained the finished report from the retained engineering firm in Denver, Colorado. The report offers the design for the mill layout, essential equipment and the testing of the process to improve the recovery of valuable metals. At present, the construction company selected to construct the mill is in the process of locating the necessary equipment to build the site and the equipment availability timeline.
Furthermore, Santa Fe Gold has entered into the Mineral Exploration and Option Agreement with Texas Minerals Resources, Corp. (TMRC) and they have received their funds to move forward for a scheduled district-wide assessment among the patented and unpatented claims that Santa Fe Gold holds.
Santa Fe Gold strongly recommends its shareholders to read in detail the press release issued by TMRC on November 9th, 2021 at tmrcorp.com., which completely explains the exploration deployment they are planning at present and the phases of the project.
The last phase will lead to a bankable feasibility study to include metallurgy and engineering for a mine-mill operation. Also, this document will be utilized to achieve the funds for Santa Fe Gold’s portion of the joint venture project as elaborated in the TMRC press release.
We are very happy that after months of hard work, our search to acquire an optimal site for construction and operation of our ore mill has been successfully concluded with its acquisition. Similarly, as we have continued to look for creative ways to begin monetizing the opportunities, we have all believed exists in our mining properties. Also, we are currently in the process of completing our Joint Venture Agreement with our chosen partner, Texas Mineral Resources, Inc.
Mr Brian Adair, Chairman of the Board, Santa Fe Gold Corporation