Clifton Mining Company (the "Company") has just received its final permits from the Utah Department of Oil, Gas and Mining to place its wholly-owned Alvarado Mine into production. Historically, this was a low-tonnage mine that, from the 1880s into the late 1920s, produced some of the highest grades of gold in the country. Chip and channel sampling have identified high-grade material from which gold has been efficiently recovered.
The historic mine has not been adequately drilled, and at this time geometry, tonnage, and average grade are not known. Preliminary sampling suggests there is material that could be profitably mined and processed. Should the limited mining and processing program meet expectations, the Company intends to begin a drill program seeking to better define an ore body. Market Watch