LAKEWOOD, CO -- (MARKET WIRE) -- 07/07/2009 -- Colorado Goldfields, Inc. (OTCBB/CGFIA) announces milestone completion, moving the Pride of the West Mill closer to production.
Along with the Company's operations team and crew, Silverton-based contractor, Maisel Excavating, LLC conducted a redistribution of 19,000 tons of waste rock to other approved areas on the proper
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OTCNBB: CGFIA $0.0002 0 (0%)
LAKEWOOD, CO -- (MARKET WIRE) -- 07/07/2009 -- Colorado Goldfields, Inc. (OTCBB/CGFIA) announces milestone completion, moving the Pride of the West Mill closer to production.
Along with the Company's operations team and crew, Silverton-based contractor, Maisel Excavating, LLC conducted a redistribution of 19,000 tons of waste rock to other approved areas on the property. This will clear the way for the delivery of new ore. This material is abandoned stockpile which included approximately 12,000 tons of dump material from the Red Mountain Mining District. This material was received by a previous operator as part of a clean up program involving several entities including the EPA, Colorado Division of Minerals and Geology, and the Animas River Stakeholders group. The removal of all this material to the tailing pond is a part of the reclamation plan approved by the Colorado Division of Reclamation and Mining Safety ("DRMS"). The earth moving equipment involved in this phase of the Mill reactivation program includes dump trucks, an excavator, D6 dozer and Colorado Goldfields' 5 cubic yard LH (Load Haul Dump). The LHD is normally an underground machine but is perfectly adapted to the short hauls involved in this operation.
To view live video of the work in progress, click here: http://www.cologold.com/uploads/Mill_Milestone_4.wmv
In accordance with the reclamation plan, a lift of inert rock was placed in the tailings pond adjacent to a sand berm. A portion of the rock lift was in an area of wet slimes. In this area the rock was placed on a geotextile fabric to prevent the rock from being pushed into the slime. This is a technique of construction which was first implemented in the construction of roads, air fields, and helipads in the jungles of Southeast Asia during the 1960s. Above the rock fill, a layer of high clay content material was placed to reduce any transfer of fluids from above or below the waste material fill.
On top of this barrier level, sand from the leached out portion of the upper tailings pond was placed to a level higher than the existing lined pond adjacent to the disposal area. Moving the sand entailed the relocation of an additional 2500-3000 cubic yards of material. The dump rock is then placed on the sand to a level close to the level of the top of the berm. The finished disposal area will be covered with bank run inert material or screened material from the same source. This will be graded such as to allow all water to run off onto the lower tailings pond.
According to Colorado Goldfields Director of Operations John Ferguson, "The removal of this material from the stock pile area was seriously overdue. Maisel Excavating and Colorado Goldfields staffs have implemented an innovative plan, which has been executed very smoothly. There have been some slow ups due to weather and ground conditions but these obstacles have been surmounted without problem. I am quite pleased that we were able to complete this project ahead of schedule. We were able to complete a task which not only accomplishes an environmental clean up project, but is smoothly integrated into the mill re-activation project."
Investor Conference Call and Class B Securities
Management remains very sensitive to the need for the Company's shareholders to experience management more directly and thus, we are re-scheduling our next investor conference (originally announced for late April) call for the near future, when we feel there will be many interesting developments to discuss. We will announce the rescheduled date shortly.
In response to some continuing inquiries regarding Class B Securities, Company CFO Stephen Guyer states, "All Colorado Goldfields certificated shareholders have been issued their Class B Securities; nearly 100% of the entire qualified Class B total issuance has been executed successfully. However, there remain a small number of Class B issuances still to come as a result of lag time we have observed with several smaller broker/dealer participants in our stock, whose back offices have not quite fulfilled compliance in regard to the Class B shares. If you have not received your Class B Securities, please call your broker immediately and refer them to our instruction letter sent to them on February 25, 2009."
Notice Regarding Forward-Looking Statements
Along with the Company's operations team and crew, Silverton-based contractor, Maisel Excavating, LLC conducted a redistribution of 19,000 tons of waste rock to other approved areas on the property. This will clear the way for the delivery of new ore. This material is abandoned stockpile which included approximately 12,000 tons of dump material from the Red Mountain Mining District. This material was received by a previous operator as part of a clean up program involving several entities including the EPA, Colorado Division of Minerals and Geology, and the Animas River Stakeholders group. The removal of all this material to the tailing pond is a part of the reclamation plan approved by the Colorado Division of Reclamation and Mining Safety ("DRMS"). The earth moving equipment involved in this phase of the Mill reactivation program includes dump trucks, an excavator, D6 dozer and Colorado Goldfields' 5 cubic yard LH (Load Haul Dump). The LHD is normally an underground machine but is perfectly adapted to the short hauls involved in this operation.
To view live video of the work in progress, click here: http://www.cologold.com/uploads/Mill_Milestone_4.wmv
In accordance with the reclamation plan, a lift of inert rock was placed in the tailings pond adjacent to a sand berm. A portion of the rock lift was in an area of wet slimes. In this area the rock was placed on a geotextile fabric to prevent the rock from being pushed into the slime. This is a technique of construction which was first implemented in the construction of roads, air fields, and helipads in the jungles of Southeast Asia during the 1960s. Above the rock fill, a layer of high clay content material was placed to reduce any transfer of fluids from above or below the waste material fill.
On top of this barrier level, sand from the leached out portion of the upper tailings pond was placed to a level higher than the existing lined pond adjacent to the disposal area. Moving the sand entailed the relocation of an additional 2500-3000 cubic yards of material. The dump rock is then placed on the sand to a level close to the level of the top of the berm. The finished disposal area will be covered with bank run inert material or screened material from the same source. This will be graded such as to allow all water to run off onto the lower tailings pond.
According to Colorado Goldfields Director of Operations John Ferguson, "The removal of this material from the stock pile area was seriously overdue. Maisel Excavating and Colorado Goldfields staffs have implemented an innovative plan, which has been executed very smoothly. There have been some slow ups due to weather and ground conditions but these obstacles have been surmounted without problem. I am quite pleased that we were able to complete this project ahead of schedule. We were able to complete a task which not only accomplishes an environmental clean up project, but is smoothly integrated into the mill re-activation project."
Investor Conference Call and Class B Securities
Management remains very sensitive to the need for the Company's shareholders to experience management more directly and thus, we are re-scheduling our next investor conference (originally announced for late April) call for the near future, when we feel there will be many interesting developments to discuss. We will announce the rescheduled date shortly.
In response to some continuing inquiries regarding Class B Securities, Company CFO Stephen Guyer states, "All Colorado Goldfields certificated shareholders have been issued their Class B Securities; nearly 100% of the entire qualified Class B total issuance has been executed successfully. However, there remain a small number of Class B issuances still to come as a result of lag time we have observed with several smaller broker/dealer participants in our stock, whose back offices have not quite fulfilled compliance in regard to the Class B shares. If you have not received your Class B Securities, please call your broker immediately and refer them to our instruction letter sent to them on February 25, 2009."
Notice Regarding Forward-Looking Statements
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