Silver Falcon Mining (SFMI) Receives Additional War Eagle Mountain Mining Rights
Posted on: Monday, 21 April 2008, 09:00 CDT
Silver Falcon Mining, Inc. (PINKSHEETS: SFMI) announces the acquisition of mining rights from GoldCorp Holdings, Inc. to an additional 160 acres of mineralization on War Eagle Mountain. Under the terms, GoldCorp Holdings, Inc. amended the original mining rights agreement between the two Companies, whereas SFMI can operate an additional 7 claims, for 15 years with no additional earn-in expense. These 7 new War Eagle Mountain mineralization bodies, called the "Cornice Zone," adds to SILVER FALCON Mining's leases, making it a total of 15 lease claims and 14 mine shafts.
Prior to staking the Cornice Zone, GoldCorp Holdings, Inc. obtained a detailed exploration report of this unexplored area. D.A. Yeager's and C.K. Ikona's report stated, "A soil sample survey was conducted over a portion of the north-central part of War Eagle Mountain to Investigate the possible existence of any overburden covered mineralized zones not previously detected. A picket grid was laid out and a large number of gold and silver soil anomalies are indicated in the grid area. A new zone of coincident gold and silver geochemical values covers an area showing no previous prospect pits or adits and thus represents a zone of previously undetected mineralization. This area lies on the east edge of the central ridge and is the site of a huge cornice that forms every year due to the predominant west to east winter wind direction."
Since glacial fields have been melting throughout the western hemisphere, this has exposed rock structures recognized as part of hyper-enriched epithermal deposits; similar to the early original "bonanza"-type discoveries throughout the mountain.
Mr. Pierre Quilliam, President of SFMI, states, "This kind of news is always welcome and the Cornice Zone exploration data suggests that it should be a high-quality and highly-profitable endeavor. Since the Mountain is now ending its winter season, we will start on the economic determination of the geological magnitude of this discovery and claims."
Information contact, Rich Kaiser, YES INTERNATIONAL 800-631-8127 and/or SFMI 941-761-7819 www.silverfalconmining.com/
Silver Falcon Mining, Inc. cautions the statements made in this press release constitute forward-looking statements, and 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 statements are made.
Information contact: Rich Kaiser YES INTERNATIONAL 800-631-8127 and/or SFMI 941-761-7819 www.silverfalconmining.com/
SOURCE: Silver Falcon Mining, Inc.
Source: MARKET WIRE
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