Golden Phoenix Announces Resumption of Regular Grinding and Flotation Operations at Its Ashdown Molybdenum Mill
Thu Oct 4, 5:00 AM
ca.news.finance.yahoo.com
SPARKS, Nev., Oct. 4 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM.OB), is pleased to announce that the replacement of new liners and lifters in its 100-ton ball mill was completed on schedule and within budget in September, and regular grinding and flotation operations were resumed at its Ashdown Project molybdenum mine, located in Humboldt County, Nevada.
The installation of new liners and lifters was completed on September 7, 2007, at which time the ball mill was placed into continuous break-in operation. The ball mill is operating at full capacity and subsequent flotation of molybdenum concentrates at the mill has resulted in the completion and sale of Shipment No. 12, containing approximately 48,000 pounds of product.
During the four-week period that the liners and lifters were being fabricated and installed, the mill staff continued production of concentrates by re-processing molybdenite contained in tailings stored in the impoundment pond. With the return to service of the ball mill last month, the grinding of new ore has resumed and routine milling operations have been fully restored.
Crews continue the systematic upgrade of a number of components in the mill circuit in order to minimize unscheduled maintenance in the future. This work is expected to be substantially complete by the end of October, clearing the way for optimization of recovery and grade through full-scale stope mining, which is planned to begin early next year.
Please visit the Golden Phoenix website at golden-phoenix.com
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements by David A. Caldwell, CEO, and other statements regarding the expansion of production at the Ashdown Mine, optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market prices for the Company's mineral products. In addition, actual results could vary materially based on changes or slower growth in the molybdenum and gold markets; the potential inability to realize expected benefits and synergies in the Company's mining operations; domestic and international business and economic conditions; changes in the mining industry for base and precious minerals, especially molybdenum; unexpected difficulties in expanding production at the Company's mines; mining and milling equipment failures and breakdowns; changes in customer demand or ordering patterns for molybdenum; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of skilled miners; the need for additional capital and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
President
775/853-4919
E & E Communications
Paul Knopick
949/707-5365
pknopick@eandecommunications.com
SOURCE Golden Phoenix Minerals, Inc.
Contacts
Robert Martin
President of Golden Phoenix Minerals
Inc.
+1-775-853-4919
or Paul Knopick of E & E Communications
+1-949-707-5365
pknopick@eandecommunications.com
for Golden Phoenix Minerals
Inc. |
