Santa Fe Gold acquires Arizona property to build ore processing mill
Mining and exploration company Santa Fe Gold has closed the acquisition of an ideally situated property in Duncan, Arizona, for the construction of its planned ore processing mill.
The site is situated about 15 miles from its mines in New Mexico and was chosen because the regulations and permitting in Arizona are more favourable for the operations, the company says.
The mill site currently consists of 11.23 acres, has truck scales and two building structures.
The company has received the completed report from the retained engineering firm in Denver, Colorado. The report provides the design for the mill layout, necessary equipment and the testing of the process to maximise recovery of precious metals.
The construction company chosen to build the mill is currently in process of locating the required equipment to construct the site and the equipment availability time line.
Santa Fe Gold has also signed a minerals exploration and option agreement with Texas Minerals Resources and the company has obtained the financing to move forward for a planned district-wide evaluation among the patented and unpatented claims that Sana Fe Gold holds.
The final phase will result in a bankable feasibility study to include metallurgy and engineering for a mine-mill operation.
This document will also be used to obtain the financing for Santa Fe Gold’s portion of the joint venture project.
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