Archive for the ‘Santa Fe Gold Corp. SFEG’ Category

Santa Fe Gold Corp. (SFEG) Secures Additional Purchaser, $12M Contract Inked with Korean Smelter

Wednesday, February 6th, 2013

Santa Fe Gold, which started kicking production into overdrive at their flagship Summit silver-gold project this month, reported contracting of another product end point today, as the announcement is made that LS Nikko will purchase a minimum of 360 metric tons of concentrates from the company this year.

This is a great deal and adds considerable end market footprint to SFEG’s already successful production pipeline. President and CEO of SFEG, Pierce Carson, emphasized the strategic advantages of developing multiple outlets for the company’s high-value gold/silver concentrates and silica flux products. In fact, the output from the mine and their 400 ton/day Lordsburg flotation mill, combined with silica flux sales (comprised of minimally processed ores), could easily find more takers in a hungry global market for precious metals and that’s why the move to ramp up production by adding manpower cycle time at the mine was so important.

The deal is valued at around $12M given current metal prices and plans are to ship the concentrates off to the LS Nikko smelter in Korea, receiving payment according to metal content and with consideration for customary logistical charges/costs. Another awesome buyer and a solid overall result for SFEG, which will continue to sell concentrates to the German smelter they did so much business with last year (as well as other entities), as well as maintaining a consistent silica flux trade with the two Arizona smelters they have been doing business with, well throughout 2013.

So  basically, SFEG is able to sell all it can produce and is chomping at the bit to wring more production out of the mine, likely considering expansion upgrades where possible as well. The company has really set itself up well in terms of production and sales, with a sound regional strategy focused around their Lordsburg mill in southwestern New Mexico and the kind of acreage footprint to make it all happen. The company has a substantial amount of breathing room around the mill in addition to satellite projects, like the trucking-distance away Mogollon gold-silver project, or Ortiz gold property ($1M budgeted for the next year or so for this project estimated at 29.1M tons grading, on average 0.035 opt at a 0.01 opt cut-off)  in north-central NM. Additionally the company has their Black Canyon mica deposit (estimated at some 4M tons grading 7.48% mica on average with a 2.47% cut-off) over in western Arizona and a particularly interesting little micaceous iron oxide (extremely valuable for use in coatings that protect structural steel) deposit nearby on the Planet property.

Huge moves for SFEG considering Summit only went into commercial production in Q2 of last calendar year, and the success of the merger with International Goldfields Ltd. (Jan 31 update) brings Santa Fe’s strong production (and near-production) footprint in NM together with IGS’ exploration properties in Brazil and West Africa to create a truly compelling story for investors. The thing we like most about SFEG though is how production-focused they are for a junior, something to really take note of in a space dominated by exploration and financing.

For more information on Santa Fe Gold, please visit

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Santa Fe Gold Corp. (SFEG) Hits Bonanza Grade Mineralization While Working Summit Mine, Strong Indicator for Extension Northwest

Thursday, November 29th, 2012

Santa Fe Gold, the ambitious and relatively young mineral developer focused primarily on their flagship Summit silver-gold project (including the underground mine and surrounding 117 patented acres, and 740 unpatented acres) and the associated Banner milling facility in Lordsburg, was overjoyed to report bonanza-grade gold and silver values occurring over mineable widths at Summit today.

We are talking grades of 7.73 opt Au and 269.75 opt Ag, the best results thus far to be pulled at the project. It’s a clear indication that the northern edge of the currently defined resource (especially in light of ongoing explorative work) where the assay material was pulled shows abundant potential for expansion. SFEG is looking at being able to expand northwest along-strike now through high-grade gold and silver, having kicked up this superb news while pursuing the 5600 level of the N-1 ore block.

VP of Operations for SFEG, John White, noted how these findings roundly confirm the company’s model for the N-1 mineralization and have created a great deal of exuberance at SFEG, instilling confidence in the procedural northwesterly movement to the point where the men are actually hungry to get at the metal. The epithermal vein system pattern for Summit is well known to all and here we have solid indicators that digging out more of the NW area will lead to additional high-grade mineralization outside currently identified resources. This could be huge for SFEG and the realization that such additional production potential is within reach has had an electrifying effect on people.

Hitting this kind of potential while working your way through the material is a real boon for SFEG, and though the current assay bonanza returns are likely more highly localized, it is precisely this sort of localized mineralization that is a classic hallmark of epithermal vein systems in this geology. The assays results were encountered near a surface drill hole intersection that returned an 11.4 foot true width at 0.214 opt Au and 16.42 opt Ag, with face channel samples from a three consecutive round interval showing an average of 2.14 opt Au and 82.68 opt Ag over 12.7 feet. An additional 6-foot interval from the same zone yielded the brilliant 7.73 opt Au and 269.75 opt Ag figures.

SFEG will also continue drift development below the 5300 level as they edge towards the high grade stuff down on the 5080 level, a progress target which the company anticipates hitting by the middle of next year. There is plenty of mining to be done within the broad, structurally controlled zone of epithermal mineralization bearing volcanic rock (hydrothermally altered) at Summit and the company has five years of ore reserve just in the main footwall zone (some 618k tons at 0.143 opt Au and 10.78 opt Ag).

Production, discoveries that align with a clear geology model for the mineralization, and growing reserves; it’s a recipe for success and SFEG has their sights set on the big time, with everyone across the company’s asset portfolio driving hard to make Santa Fe the next major player in precious metals development.

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Santa Fe Gold Corp. (SFEG.OB) Successfully Lists on the Frankfurt Stock Exchange

Monday, March 2nd, 2009

Santa Fe Gold Corp, a mining and exploration enterprise focused on gold, silver, copper and industrial minerals, announced this morning that it has dual listed its shares in the Open Market of the Frankfurt Stock Exchange in Germany under the symbol “AZRA”. The company’s stock began trading on the exchange on February 20, 2009.

“We are proud to have reached this important milestone in making Santa Fe Gold Corp. easily available to the European investment community,” commented Dr. Pierce Carson, CEO and President. “We believe we have created a business model that is very attractive to European investors and also intend to increase activities in regard to investor relations in Germany and other parts of Europe. By attending important conferences and exhibitions, we plan to make ourselves available to investors on a regular basis.”

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Dutton Associates Featured Company: Santa Fe Gold Corp. (SFEG.OB)

Thursday, July 17th, 2008

Santa Fe Gold Corporation (OTCBB: SFEG.OB), formerly AZCO Mining, focuses on producing revenue from precious metal holdings while creating a portfolio of quality exploration and development projects that will ensure future profits. The company has two active properties and two future projects planned, all located within the southwest United States. The two active properties include the Summit silver-gold project and the Ortiz gold project, while the company sold the rights of Black Canyon Mica project, and continues working on their Micaceous Iron Oxide (MIO) project.

Their largest project is the Summit silver-gold project, which includes 117 acres of patented mining claims and 520 acres of unpatented mining claims located near southwestern New Mexico in Grant County. Research was conducted to project possible revenues and production of the area, as management concluded that – with current silver and gold prices – the deposit would create the basis for an economically viable underground mining operation. The process involves underground mining of mineralized material from the Summit property at a rate of 400 tons per day (120,000 tons per year), and trucking of the material 57 miles to the Lordsburg mill site where metallurgical processing would take place.

The Ortiz Mine Grant is located in Santa Fe County, New Mexico. The company holds exclusive rights to the mine and engages in the exploration, development and mining of gold and other precious metals on the 57,267 acres of property. Previous drilling of the mine indicated approximately 2 million ounces of gold in several deposits. Further research demonstrated that there are favorable deposits located in the area, but extraction calls for high-pressure grinding rolls with gravity recovery and contract mining for great success. The capital cost, assuming contract mining, was estimated at $38.2 million.

Santa Fe Gold believes that there is great potential to produce micaceous iron oxide (MIO) located on a property that totals 523 acres and consists of 31 patented mining claims in western Arizona. The property is one of the largest in the world and is unique to North America. MIO is an uncommon flake-like form of crystalline hematite (Fe203) valued for the anti-corrosive properties it contributes to coatings formulated to protect structural steelwork. The material is recognized as eco-friendly, and is utilized in coating systems on many of the world’s largest bridges, oil rigs, production platforms, transmission towers, pipelines, industrial plants and superstructures.

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Santa Fe Gold Corp. (SFEG.OB) Adds and Consolidates its Core Position at Virginia Mining District Location, Now Controls 1,500 Acres within Heart of District

Tuesday, July 1st, 2008

Playing in the natural resources sector takes quite a bit of capital and an equal amount of faith. You have plenty of data saying the resources are there and available, but at the same time, you just don’t know for sure until you get them.

Santa Fe Gold Corp., a mineral exploration and development company, works to discover and extract marketable minerals within the Southwestern US. The company currently has one gold and silver mine financed through to completion, and two others well along the developmental path. The company’s primary workings are in New Mexico and Arizona.

Although the company focuses primarily on its gold and silver operations, it continues to explore and mine industrial minerals. Recent news reports find the company settling a lease dispute over 523 acres of land. The ultimate outcome has found the company buying the land for its possible micaceous iron oxide (MIO) deposits. MIO is a mineral made into a coating which is used for protection of structural steel where corrosion is likely.

The company is producing gold and silver from one property, but it has several other gold and silver properties nearing final approvals toward beginning operations. Although there is always room in the permitting phase for delay, the company anticipates that within 2-3 years several more properties will be in production phases. The company is, however, still in the acquisition phase of its plan. It has a handful of properties in-hand and is considering 24 potential targets in the future. Santa Fe Gold has started the ball rolling in its campaign to mine US commodity and industrial minerals. What the commodities metals markets will do in the next few years is anybody’s guess, but this company appears to heading toward that time horizon with its eyes wide open.

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