-High grade veins are open at length and to depth in some areas.
Idaho Geological Survey ( a 400 page report )
Many old mine names are now SFMI property…most of the surface ore discarded ( 2 oz/ton or less) from many shafts is not tailings (SFMI has over 500,000 tons in several dumps)…as it has not been processed through an old type stamp mill except the larger tailings pile at the Dewey Mine (p.19). Many of the War Eagle mine sites were “in good ore” when they closed, meaning they still had visible gold and were probably still in grades near the 2.5 oz/t that the War Eagle mines averaged.
Barrett Coop: former Geologist Kinross Gold
“Should exploration be initiated on War Eagle Mountain, I would fully expect them to encounter high grade silver and gold mineralization. The veins in the Mountain have not been fully exploited with respect to length or depth. My experiences at Florida and DeLamar Mountains dictate that any new exploration ventures should be focused on the War Eagle Mountain if a large scale project is the desired goal in this mining district. “No other property holds the promise of silver and gold than War Eagle”.
An ore analysis was reported by D.A. Yeager, and C.K. Ikona, of Pamicon Developments, Ltd. "Investigations indicate at least one year's reserves in place at the bottom of the Illinois-Central; with ore indications of 11,205 tons @ 103 g/t Gold (3.6 oz Gold/ton)," wrote Mr. Yeager. So this translates to 33,000 oz or $33,000,000.
By the way this shaft has no water in it. The shaft with the water lies on the other side of the mtn in the Golden Chariot shaft which isn't a concern and won't need to be dealt with for years as there is more than enough ore available in other locations.
Piper Laney Geological report, 1926…
- value of ore mined from shoots in today’s values ranged from $700/ton to $2,400/ton. (p89)
- the veins are true fissure veins …we conclude, therefore, that the veins will probably extend to unknown but great depths (p91).
- “By way of summary, it may be stated that the field and laboratory studies of the Silver City ores have shown: (1) that the exceedingly rich bonanza ores in the upper portions of the ore shoots were formed by the surfical enrichment of already rich primary bodies, and, (2) that the primary ores range from good to high-grade ores and that they may be expected to continue as good ores to depths much greater than any thus far reached in the district (Silver City mines).” (p92).
See SFMI’s latest 10Q, SEC filing ….quotes and notes ... thanks to Oryx
“The mineral rights consist of 174.82 acres of land on War Eagle Mountain in Idaho, consisting of a 100% interest in 103 acres, and a 29.166% interest in 71.82 acres, plus an additional 44 lease claims obtained from the U.S. Bureau of Land Management. [p 16]”
“On September 21, 2008, we acquired from Mineral Extraction, Inc. all mineral, mining and access rights to two mining claims on War Eagle Mountain, covering 18.877 total acres, as well as claims for four mill site locations and the Sinker Tunnel location. [p 19]”
Oryx: “So SFMI has rights to 100% of most of their properties, plus 100% of the 44 lease claims from the BLM, and 29% of the rest of the properties leased from Goldcorp. In addition, SFMI owns outright 100% of the rights to other mining claims, as well as four mill site locations. And maybe most important of all, SFMI owns the Sinker Tunnel 100%. It also seems pretty obvious that SFMI will concentrate their efforts on the properties to which they have 100% of the rights.”
Significant News Releases to date 2010:
01/14/10 – New mill mgr. hired.
01/27/10 - Diamond Creek Mill building is now complete.
03/03/10 -- FINRA has approved listing for trading onto NASDAQ-Over The Counter Bulletin Board (OTC:BB). ..the Company had to first become fully reporting under the US SEC 1934 Act …Only companies with full disclosures and transparencies can apply for this listing status
03/08/10 --mandates its legal counsel to evaluate a listing onto the Toronto Stock Exchange (TSX).
04/19/10 -- declared the mill facility opened as of April 19th 2010.
04/26/10 – proceeds to list on Brazilian Stock Exchange…BOVESPA.
04/27/10 -- Pursuant to South American investors having shown an intense interest….opening of the heliport at its Diamond Creek Mill site.
05/04/10 -- Diamond Creek Mill facility will start producing gold/silver for sale on May 17th... two 10-hour shifts per day, 50 tons per shift (100 tpd-tons per day) on a 30-day cycle; anticipates further increases in mill rates in mid-July 2010..
05/12/10 -- contracted work to begin May 17th on the "Sinker Tunnel" complex. Tunnel ventilating and cleaning will begin in earnest so that surveying and geological evaluations can be prepared by the Company.
05/26/10 --US Mine and Safety Administration (MSHA) issued its certification to the Company’s employees.
06/02/10 – New CFO.
06/16/10 -- first lease payment has been made to GoldCorp .. using the proceeds from the historic tailings.
01/01/10 – mill running at 140 tpd (tons per day)… mill feed composition is softer than expected, the Diamond Creek Mill can crush and process throughputs faster and less expensively….the mll contains a number of technologically advanced modern components. This mill design enhances the production of ore at maximum efficiencies. At capacity, the mill circuit design can handle up to 500 tons per day which can be obtainable upon the addition of a few other components.
Website www.silverfalconmining.com …. Quotes…
5) Approximately 19.35 million tons of mineralized ore is calculated to exist on War Eagle Mountain. Approximately 165,000 tons of ore have already been produced, with an average yield of 2.52 ounces of gold equivalent ($ 1,638) per ton. An estimated (4) million ounces of Gold equivalent, worth $ 3 Billion, is thought to be minable on War Eagle Mountain. A life-of-mines ranging from 15-20 years, and yearly revenue of $ 330 Million, is expected at full mining capacity.
6) The largest Silver nugget ever produced in the United States, at 8,000 ounces, came from the POORMAN MINE. The POORMAN MINE is one of the properties that Silver Falcon Mining, Inc., is developing on War Eagle Mountain. It was said, of the ore from the POORMAN MINE, that ''As Jelly is to bread, so is Silver to this rock".
In the most recent "historical" report (1998), some nice results were reported: "The two holes that were drilled in the Keystone/Illinois Central and North Empire zones of the Central Vein System on the Mountain, approximately midway between the North and South shafts of the Poorman Mine, struck extremely strong new vein structures. These structures showed 1,000 ppm in Gold(23.86 oz Gold / Ton)."