Colorado Goldfields
| Industry | Mining |
|---|---|
| Trades as | USOTC:CGFI |
| Website | [1] |
Colorado Goldfields Inc. is a junior exploration and mining company based in Denver.
Contents |
Investing In Our Nation's Future
Continuing the legacy of the historic Colorado gold rush, Colorado Goldfields Inc. is a new player in the exploration world, focused on a major gold project in the legendary Silverton Mining District.
The location of one of the greatest gold rushes in North America, Colorado is now the site of increasing gold exploration, where millions of ounces of gold have been mined since 1859. The source of this gold is currently being explored and developed by industry leaders using state-of-the-art geologic science and mining expertise to locate new sources of gold and continue the tradition of gold mining in Colorado.
With an experienced team that understands project viability, Colorado Goldfields is aggressively putting together an exploration and development program for its Silverton, Colorado properties.
Strategy
Our corporate strategy involves a long-term, results-oriented approach towards exploration research, supported by a scaled expansion of field operations on carefully selected assets.
Colorado Goldfields is focused on working in proven gold camps; on projects which have not a single deposit but multiple deposit discovery potential, by applying leading edge exploration tools and modern geophysics techniques.
Following a proven discovery model, our specific business strategy in Colorado provides a unique combination of advanced, formerly producing properties with excellent exploration and production potential and a modern 500 to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame.
With an experienced management team along with exploring a number of large projects in the prolific mining districts of North America, Colorado Goldfields is poised to be an excellent mining opportunity for 2008.
Management
Colorado Goldfields has assembled a highly skilled team with a track record of corporate success to maximize its exploration efforts.
"The acquisition of Silverton gold mining properties has strengthened our portfolio, with these projects presenting the company with an excellent opportunity particularly in light of the additional purchase of the Pride of the West Mill, effectively reducing our production timeframe. Colorado is a significant non-fuel mineral producer and is the third largest producer of gold in the USA and our team is excited about being part of the future growth of this historic mining state."
Environmental Protection
Colorado Goldfields Inc has been proactive in environmental matters in San Juan County, Colorado.
Colorado Goldfields Inc. is working with the Silverton Public School District to help better meet the needs of the students, who are the future of the Silverton community.
Colorado Goldfields Inc. Files Pride of the West Mill Permit; In Only 5 Days Accepted as Complete by State of Colorado Divisi...
Colorado Goldfields Inc. (OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that it submitted the Company's Rule 112-b Reclamation Permit Amendment (AM-03) Application to the State of Colorado Division of Reclamation, Mining, and Safety ("DRMS") on January 27, 2012. Just 5 days later, the application was deemed "complete for filing" by the DRMS and a decision date was scheduled for May 1, 2012.
According to Colorado law, the Company is required to "publish notice in a newspaper of general circulation once a week for four (4) consecutive weeks." Further, the regulations require that the Company notify all owners of record of surface and mineral rights, holders of any recorded easements, and all owners of record of lands within 200 feet of the permit boundary and affected land via certified mail and submit proof of the notices prior to the decision date.
The Company began notice publications on February 9, 2012 in the Silverton Standard and the Miner and will complete the publication requirement on March 1, 2012. Certified mail notices were completed on February 9, 2012. Comments must be in writing and must be received by the Division of Reclamation, Mining, and Safety by 4:00 p.m. on or before March 21, 2012.
The application itself consisted of 526 pages (weighing 45 pounds) of detailed specifications, maps, and drawings describing every aspect of the proposed milling operation. Included in the application was a proposed procedure for the processing of ore from 3rd parties -- custom or "toll" milling. This component of the application is unique to Colorado Goldfields and was originally accepted in concept by the DRMS in December, 2010.
The complete submittal is available to the public from the DRMS, or may be viewed or downloaded from the Company's website at:
http://www.cologold.com/uploads/M-1984-049_AM-03_Complete.pdf
"This is a gigantic milestone for the Company," stated Stephen Guyer, CFO for Colorado Goldfields. "After several years of intense work with the DRMS, we are now literally knocking on the door of operations. We believe our team of engineers, legal staff, and management, have covered every possible aspect of the operation and are extremely optimistic about the outcome. I believe this is evident by the DRMS' very quick acceptance of the filing as 'complete.' I have never seen such a fast response," continued Guyer.
In addition to the comment period, between now and May 1st, the DRMS will be analyzing the technical content to determine if the permit amendment application is adequate to meet the requirements of the Mineral Rules and Regulations of the Colorado Mined Land Reclamation Board for Hard Rock, Metal, and Designated Mining Operations Act.
Colorado Goldfields' Mill Tailings Repository Judged "Most Robust Ever Encountered" by World-Class Engineering Firm Knight Piesold
Colorado Goldfields Inc. (OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that world-class engineering firm Knight Piésold has declared the Company's Mill Tailings Repository design, ". . . stable, low risk and low hazard facility. Furthermore, [sic] the design has been completed in a satisfactory manner and consistent with current engineering practices for mine waste facilities."
"We are confident that this expert review of the Pride of the West Mill tailings management design will remove any doubt regarding its stability and acceptability to the Colorado Division of Reclamation, Mining, and Safety. Furthermore, it certainly confirms that the Company has assembled a strong engineering team for its operations," stated C. Stephen Guyer, CFO for Colorado Goldfields.
The report went on to say:
"Knight Piésold has completed a review of the Pride of the West Mill Tailings Repository design report. This review specifically addresses engineering matters. The undersigned can state with confidence that the fundamental concept for the Pride of the West Mill Tailings Repository is the most robust he has ever encountered. This statement is based on the combined effects of the following:
•The use of filters to decrease the water content of the tailings prior to placement; •The degree of compaction specified for the placed tailings; •Use of a (Clearspan) cover which will keep environmental moisture from affecting the placed tailings; and •Use of the redundant lining and leak detection system."
Bryan Ulrich, P.E., Senior Vice President for Knight Piésold performed the analysis. Mr. Ulrich has a 25-year tenure with the company (Denver, Johannesburg and Elko). During that time, Mr. Ulrich has seen a multitude of tailings storage facilities in the US, Mexico, Latin America, Africa and Europe. Coincidentally, in the late 1980s Mr. Ulrich completed the site investigation, analyses, design and resident engineering for the Sunnyside #3 tailings facility in Silverton, which converted the facility from a cycloned operation to a conventional earthfill dam and ended much of the dust problem that was previously attributed to the facility. Mr. Ulrich, who has a master's degree (MEng, Univ. Alberta) in geotechnical engineering, is a professional engineer licensed to practice in Colorado, four other states (Nevada, Wyoming, Montana and Idaho) and South Africa. Mr. Ulrich is considered to be an expert in the field of tailings management.
http://ih.advfn.com/p.php?pid=nmona&article=53489646
On August 9th 2012 the Colorado Mined Land Reclamation Board approved the AM-03 with conditions.
Projects
Colorado was home to one of the greatest gold rushes the world has ever seen where millions of ounces of gold have been mined continuously for the past 148 years. To this day, the region is known for gold production.
Brooklyn Mine
Approximately 600 acres of patented and unpatented claims located along the historic Brooklyn Mine. Since its discovery around 1900, the Brooklyn Mine has consistently produced exceptionally high-grade gold ore. An historic resource estimate of $13.8 million (14,535 ounces of gold times $950 per ounce) at a grade of 0.69 ounces per ton contained in two established and accessible ore shoots.
Colorado Goldfields Announces Assay Results From Brooklyn Mine Sampling Program; 1.3 Ounces per Ton Gold vs. 6 Ounces per Ton
Colorado Goldfields Inc. (OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that assay results from the Brooklyn Mine geochemical surface sampling and vein structure outcrop sampling conducted during the last season have been received from ALS Minerals Laboratories in Reno, Nevada. These samples were fire assayed with gravimetric finish producing a range that included a high of 1.3 oz. per ton gold and 6 oz. per ton silver. The ALS Minerals North America region includes a key analytical facility in North Vancouver, British Columbia, analytical laboratories in Val-d'Or Quebec, and Reno, Nevada, USA.
Fourteen channel samples were taken in the vicinity of the Rainbow Vein and Gloucester Vein intersection. A preliminary evaluation of this sampling coupled with historic sampling indicates that further exploration on this intersection is warranted.
Geochemical sampling was conducted on a regular grid with the sample points identified by survey. 196 samples were analyzed by an ALS Minerals standard geochemical analyses procedure. The samples included standard and blank samples as a part of the Colorado Goldfields Quality Control and Quality Assurance process. The geochemical data is being evaluated by Monadnock Mineral Services of Ouray, Colorado.
Areas of special interest are the intersection of the Rainbow and Gloucester and the projected Growler pipe area. The geochemical survey may also locate other potential veins or breccia pipes.
Based upon the geochemical data, A Notice of Intent to Conduct Prospecting Operations ("NOI") is being constructed for the Colorado Division of Reclamation, Mining and Safety. The NOI is expected to be submitted on or before June 15, 2012. Approval by the DRMS is then expected on or before August 1, 2012.
The NOI for the Brooklyn is being prepared simultaneously with the continuing permitting work for the Pride of the West Mill, and prospecting may commence prior to approval of the Mill permit.
The Company has received over $9 million in preliminary purchase orders for toll gold/silver ore milling in advance of the permit process completion from gold/silver ore mines in the area.
King Solomon Mine
The King Solomon Mine is located on the southern flank of King Solomon Mountain, just a few hundred yards up the mountain from the first discovery of gold in the San Juan Mountains in Little Giant Basin. Opened in 1876, the mine was in production until 1883. The King Solomon Mine located within 2 miles of the Company's Pride of the West Mill.
Pride of the West Mill
A modern gravity and flotation mill with up to-700 tons per day capacity. It is located within nine miles of all three mines, and is the only mill in the area. Toll milling for neighboring mines provides an additional revenue stream and the opportunity for future joint venture or acquisition opportunities
The Company is exploring extensive surface and subsurface, high-grade mineralized zones at the Silverton mines. Based on the results obtained from Colorado Goldfield's current early-stage exploration investment, the stage will soon be set for the dramatic next steps in the journey from discovery to determination of an economical ore body. At that stage, Colorado Goldfields will be able to exploit the advantages of its recent purchase of the Pride of the West Mill, which will allow for a shorter term production timeframe.
Colorado Goldfields is also currently considering the acquisition or staking of other new properties in the San Juan County Mining District.
Silver Wing Mine
Colorado Division of Reclamation Mining and Safety ("Division"), has approved its application to begin work at the Silver Wing Mine. The formal name of the application is "Notice of Intent to Conduct Prospecting Activities." The application was approved on November 18, 2011 and is the third consecutive approval of a permit received by the Company from the Division.
Activities to be completed under this initial approval of work at the Silver Wing Mine will include re-sampling key areas of the mine by taking approximately 250 channel samples to verify records of sample data taken by prior operators and consultants. In preparation for drilling, work will also include the verification of underground mine maps, evaluation of prior underground development work and the condition of existing workings. This information will be utilized to develop an on-going core drilling program and an initial mining plan.
The approval of this project is particularly significant because it allows for an investigation to be made to determine the source of the existing mine drainage of approximately 20 gallons per minute and evaluate the potential for controlling or eliminating this discharge with an underground grouting program which could avoid the need for a discharge permit. If it is determined that the discharge cannot be eliminated, then an evaluation will be made of what actions can be taken to minimize the discharge, and assuming a permit is required, what permit conditions would be most effective and appropriate for preventing discharges of pollutants into the Animas River.
"Colorado Goldfields is working to find the best way to address a very-long-term, pre-existing problem. The approval by the Division of this work, I believe shows confidence in our expertise and reinforces in real terms the Company's commitment to proper and careful mining in the area," stated Stephen Guyer, CFO for Colorado Goldfields..
The Silver Wing Mine consists of 10 patented mining claims across 70 acres in San Juan County, in southwestern Colorado known as the Silver Wing Mine.
"A thorough study of geological structures, past production, core drilling and extensive underground sampling records indicates that the total resource of the Silver Wing Mine could exceed $200 million with approximately 80% of the resource value composed of silver and copper minerals," stated Lee Rice, President & CEO for Colorado Goldfields.
http://easyir.marketwire.com/easyir/prssrel.do?easyirid=19D74C5776FFBDFD&version=live&prid=834385
