SOURCE: Silver Falcon Mining, Inc.
BRADENTON, FL--(Marketwire - Feb 21, 2013) - Silver Falcon Mining, Inc. (OTCBB: SFMI) announces that it installed and commissioned its "Denver Floatation Unit." Precious metal concentrate, which had been produced prior to the Diamond Creek Mill's annual maintenance shut down, was used to activate the floatation unit. SFMI now moves forward on floating the 35,000 tons of fine powered tailings which have been stockpiled from the gravity circuit production. This tailing material, slurry floated, should result into the extraction of approximately 90-95% of contained precious metals. Company's engineers believe that the unrecoverable precious metals, totaling between 5-10%, will only be that of silver.
Mr. Pierre Quilliam, CEO, states, "According to our daily assays on the gravity circuit mill feed, since opening the Diamond Creek Mill, the amount of precious metals recovered from this flotation process should result in 800 tons of precious metal concentrate. The value is expected to be around $5-6 million based on today's gold prices. Revenues will increase."
In order to have sustainable higher revenue streams, Management's proposed cyanide leaching circuit will significantly reduce the time and cost in converting concentrate into high-yielding dore bars. As of now, the floated concentrate will be converted at the Company's metallurgical facility. This facility's throughput per day will greatly increase upon the introduction of the closed-circuit leaching unit. The financing of the closed-circuit leaching system expected to be completed shortly.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 1,200 acres on War Eagle Mountain in southern Idaho; its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins crisscrossing the mountain above it, and SFMI provides the area population with employment and service opportunities.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that statements made in this press release constitute forward-looking statements, and makes no guarantees of future performance; actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on the estimates and the opinions of management at the time the statements are made.