Golden Phoenix's Ashdown Molybdenum Project Enters Final Review Period Prior to Start of Full-Scale Mining
Thursday June 1, 8:00 am ET
- Mill and Mine Prepare for Bulk-Sampling Operations -
ca.us.biz.yahoo.com
SPARKS, Nev., June 1 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce that the Bureau of Land Management (BLM) posted the Ashdown Project Environmental Assessment to the Internet on May 31, 2006. This marks the commencement of the final review process for the Plan of Operations under which the Ashdown molybdenum mine, located in Humboldt County, Nevada, can begin full-scale production of molybdenite concentrates.
The regulatory process leading to final operational approval includes a 30-day comment period, which will terminate on or around July 6, 2006. This will be followed by approximately two weeks of administrative processing. An additional 30-day appeal period will automatically commence upon issuance of a Decision Record and Approval Letter from the BLM.
In anticipation of receiving final approval by mid-summer, mining crews have begun to develop production stopes in the North Zone. Concurrently, drift crews are within 12 feet of intersecting the preexisting decline that leads to the South Zone. In response to the high-grade mineralization encountered recently, the Company has elected to bulk sample both the North and South Zones.
At the same time, work crews have initiated a shakedown of the individual components comprising the Ashdown mill. The flotation cells have been water-tested, the ball mill has been turned and the crushing circuit has been fine-tuned. The next step will be to run mineralized material through all circuits on an integrated basis.
The Ashdown joint venture has been granted a 1000-ton bulk sample permit, under which it will operate until full-scale approval is received. The activities commenced under the bulk sample permit provide a base line for future mining, and allow for the production and sale of molybdenite concentrates on a trial basis prior to the start of full-scale production.
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, and is manager/operator and 60 percent partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
Visit the Golden Phoenix Web site at golden-phoenix.com
Forward-Looking Statements. Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward- looking statements as a result of a number of factors.
CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
Executive Vice President for Strategic Development
775/853-4919
E & E Communications
Paul Knopick
949/707-5365
pknopick@eandecommunications.com
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Source: Golden Phoenix Minerals, Inc. |
