Colorado Goldfields Inc. Files Pride of the West Mill Permit; In Only 5 Days Accepted as Complete by State of Colorado Division of Reclamation, Mining, and Safety / Gold Stocks
LAKEWOOD, CO -- (Marketwire) -- 02/28/12 -- Colorado Goldfields Inc. (OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that it submitted the Company's Rule 112-b Reclamation Permit Amendment (AM-03) Application to the State of Colorado Division of Reclamation, Mining, and Safety ("DRMS") on January 27, 2012. Just 5 days later, the application was deemed "complete for filing" by the DRMS and a decision date was scheduled for May 1, 2012.
According to Colorado law, the Company is required to "publish notice in a newspaper of general circulation once a week for four (4) consecutive weeks." Further, the regulations require that the Company notify all owners of record of surface and mineral rights, holders of any recorded easements, and all owners of record of lands within 200 feet of the permit boundary and affected land via certified mail and submit proof of the notices prior to the decision date.
The Company began notice publications on February 9, 2012 in the Silverton Standard and the Miner and will complete the publication requirement on March 1, 2012. Certified mail notices were completed on February 9, 2012. Comments must be in writing and must be received by the Division of Reclamation, Mining, and Safety by 4:00 p.m. on or before March 21, 2012.
The application itself consisted of 526 pages (weighing 45 pounds) of detailed specifications, maps, and drawings describing every aspect of the proposed milling operation. Included in the application was a proposed procedure for the processing of ore from 3rd parties -- custom or "toll" milling. This component of the application is unique to Colorado Goldfields and was originally accepted in concept by the DRMS in December, 2010.
The complete submittal is available to the public from the DRMS, or may be viewed or downloaded from the Company's website at:
www.cologold.com/uploads/M-1984-049_AM-03_Complete.pdf
"This is a gigantic milestone for the Company," stated Stephen Guyer, CFO for Colorado Goldfields. "After several years of intense work with the DRMS, we are now literally knocking on the door of operations. We believe our team of engineers, legal staff, and management, have covered every possible aspect of the operation and are extremely optimistic about the outcome. I believe this is evident by the DRMS' very quick acceptance of the filing as 'complete.' I have never seen such a fast response," continued Guyer.
In addition to the comment period, between now and May 1st, the DRMS will be analyzing the technical content to determine if the permit amendment application is adequate to meet the requirements of the Mineral Rules and Regulations of the Colorado Mined Land Reclamation Board for Hard Rock, Metal, and Designated Mining Operations Act.
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