ALPINE, Utah. Jan. 23, 2004 (PRIMEZONE) -- Clifton Mining Company (Clifton)(Other OTC:CFTN):
Core drilling on the shear zones has proven the depth of the silver veins to a level of at least 700 feet. A new possible gold deposit has been discovered in the silver vein area. Drilling continues on the shear zone system.
Veins At 700 Feet
Four core holes were fan drilled in the upper shear zone area. These holes were drilled to test the continuation of the veins at deeper levels and also to look for wider zones within the vein system. Millions of ounces of silver have already been outlined by independent mine engineering companies in the near surface areas of the veins. This new drilling has proven the extension of the veins to depths of at least 700 feet. The 2,800 feet of core taken from the four drill holes is now being split and prepared for assaying. We expect results by mid-March. Drilling continues on a full-time basis. New drilling permits have been issued on a number of targets.
New Possible Gold Deposit
While mapping and sampling in the shear zones, Dumont geologists have discovered another potential gold deposit. A new core hole is planned. Surface sampling in the area has already established the fact that the area contains good gold values and the core hole will test gold values at depth. Said Keith Moeller, "We already have a great deal of data (including drill data) on a number of large-scale and some very high-grade gold deposits located on the property, but we did not expect to find another one in the midst of the shear zones."
Property Acquisition
Since our last update, the joint venture has acquired another 22 claims bringing the total land position to 30 square miles (19,200 acres).
Clifton trades on the U.S. OTC: (CFTN). For additional information, contact Dr. Ken Friedman, President at 303-642-0659, Keith Moeller Vice President at 801-756-1414 or see our website at www.cliftonmining.com
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.