🕐13.06.11 - 16:27 Uhr
NEWS OUT (GOLD):SFMI.OTCBB-SILVER FALCON MINING-ASSAY REPORTS
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SILVER FALCON MINING, INCs.
(SFMI) CEO Releases Milling Assays and Updates
its $7.2M Funding Arrangement
Bradenton, Florida- June 13, 2011 - Silver Falcon Mining, Inc.
(OTCBB; SFMI)
is very pleased to report on four random assays on the material mill feed at
its Murphy, Idaho, 100% owned Diamond Creek Mill facility.
The assay reports
on the tables below.
The Company, also reports on the filing of its Form S-1, finalizing the
initial steps of its $7.2 million equity agreement with Centurion Private
Equity, LLC.
Table #1-Throughput Feed
Four Random Assays of Tailings Fed (FEED) to the Mill on the Listed Dates
Sample Size (g)
Test Weight
%Au
%Ag
Au/grams per ton
Ag/grams per ton
Total Troy ounces
Date
29.16
.68
2%
98%
.42296
20.72504
.68
5/2/11
29.16
.99
1%
99%
.30789
30.48111
.99
5/10/11
29.16
.42
20%
80%
2.6124
10.4496
.42
5/17/11
29.16
.9
6%
94%
1.6794
26.3106
.9
5/23/11
NOTE: Gold and Silver grades (Au and Ag) are expressed both as a percentage
and in grams.
Samples are collected at set times during the day and night
shifts.
As can be seen above, quantities of precious metals vary greatly
from day to day as can be expected in tailings that were dumped haphazardly
more than a century ago.
Table #2-Concentration Outputs*
Four Random Assays of CONCENTRATE from the Mill on the Listed Dates
Sample Size (g)
%Au
%Ag
Au/grams per ton
Ag/grams
per ton
Total Troy ounces
Date
29.16
68%
32%
107.8548
50.7552
5.1
5/2/11
29.16
25%
75%
108.85
326.55
14
5/10/11
29.16
23%
77%
71.53
239.47
10
5/17/11
29.16
29%
71%
261.551
640.349
29
5/23/11
NOTE: It should be noted that the sampling above represent ONLY a spot check
of the concentrate accumulated daily.
Only upon smelting of this material
will the quantities of BULLION DORE produced, provide accurate contents of
Gold and Silver.
*Since our closed circuit milling process keeps material in circulation in
the mill until the concentrator removes the precious metals and sends them
to the concentrate tank,we cannot precisely gauge the amount of Gold and
Silver as separate items until the concentrate reaches the smelting process.
CEOs Statement
Every time I look at the performance of the market and look back at the
assays coming out of our onsite laboratory, I am nonplussed at the market
reaction to what is, in my opinion, an unqualified success, given the fact
that we are processing 100 year old tailings from which Gold and Silver had
already been extracted.
Comparing ore extraction methods at that time, to
that of todays standard, they were less than 60% efficient.
It is a
testament to both the exceptional quality of original ore content of
precious metals and our employees ability to extract the amount of gold and
silver left in those tailings; this should be even more apparent as we move
towards production of precious metal from the ore contained in the
underground veins, said Pierre Quilliam, CEO of SFMI.
He further states,The mill circuit, as configured, will allow SFMI to
create capital from the sale of ore, as well as ready the whole production
line to handle prime ore from the underground veins of the War Eagle
Mountain property.
Our near-term efforts include augmenting our production
capacity to produce more gold and silver from the old tailings atop War
Eagle Mountain and our long term efforts in the identification, exploration,
development, and extraction of the ore bodies remaining inside the
mountain.
Exploration and Development QA/QC Protocols
Silver Falcons exploration and development program is supervised by the
Companys President, Mr.
Roger Scammell, P.
Geo
.
Exploration will be conducted under strict quality assurance and quality
controls (QA/QC) protocols, including mineralized standards.
Half of all
sampled core will be retained for future reference at the Companys core
shack, and analyses will be performed by the Companys on-site laboratory
and by an Independent laboratory, to be named at the beginning of core
drilling operations.
Funding Arrangement
On March 11, 2011 the Company announced it secured a $7.2 million
equity purchase funding Commitment from Centurion Private Equity, LLC, an
Affiliate of Institutional Investor Roswell Capital Partners.
SFMI filed, on
June 3, 2011 an S-1 registration with the United States Securities and
Exchange Commission regarding this equity agreement with Centurion Private
Equity, LLC.
Mr.
Paul Gorski, Senior Investment Officer at Roswell Capital, said, "I am
very excited at the progress made by Silver Falcon Mining (SFMI) and we are
standing by to provide them with the necessary capital and support for them
to achieve their full potential, now and in coming years."
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain
in southern Idaho; its Diamond Creek Mill is situated at the foot of War
Eagle Mountain and is serviced by 6.2 miles of paved roads from State
Highway 78.
It maintains year round access to the Sinker Tunnel which will
facilitate underground mining of the rich veins that crisscross the
mountain.
The Company hires and has access to a mining oriented local
workforce.
On behalf of the Board of Directors of Silver Falcon Mining, Inc.:
Pierre Quilliam, Chief Executive Officer
Further Information, contact Mr.
Rich Kaiser, Investor Relations,
757-306-6090 and/or www.silverfalconmining.com.
SFMI cautions that the statements made in this press release constitute
forward-looking statements, and makes no guarantees of future performance
and actual results or developments may differ materially from the
projections in the forward-looking statements.
Forward-looking statements
are based on the estimates and opinions of management at the time the
statements are made.
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