Golden Phoenix Receives Final Approval for Full-Scale Operations at Ashdown Molybdenum Mine
Wednesday November 1, 5:00 am ET
- First U.S. Moly Mine On Line in Current Bull Market -
SPARKS, Nev., Nov. 1 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) today announced that the Bureau of Land Management (BLM) has approved the Plan of Operations for the Ashdown molybdenum and gold mine located in Humboldt County, Nevada. A Finding of No Significant Impact (FONSI) and Decision Record have been issued and signed by the BLM Winnemucca Field Manager.
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The mine is operated by the Ashdown Project LLC, a cooperative venture between Golden Phoenix and Win-Eldrich Mines, Ltd. of Toronto, Canada. Ashdown is being readied to produce molybdenite concentrates for sale through a purchase contract with a London-based brokerage.
Approval of the Plan of Operations makes Ashdown the first new U.S. molybdenum mine to come on line during the current commodity bull market. The mine's reclamation plan has also been approved by BLM and a $216,518 bond, posted on October 19, 2006, is awaiting processing for final acceptance. Prior to bond clearance, mining and milling activities are scaling up under a pre-existing bulk sample permit.
Robert Martin, Executive Vice President of Golden Phoenix, commented, "As moly prices continue to consolidate at historically high levels, our mining crews are starting to deliver high-grade material to the mill. Working with Win-Eldrich through our LLC Management Committee, we are preparing to ramp up the production and sale of moly concentrates as rapidly as possible."
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 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
Visit the Golden Phoenix Web site at golden-phoenix.com |
