Santa Fe Gold Acquires Fully Permitted Billali, Jim Crow and Imperial Mines

ALBUQUERQUE, NM - Santa Fe Gold Corporation reported the acquisition of the Billali and Jim Crow Imperial Mines and the filing of a Form 8-K with the SEC describing the terms of the acquisition agreement as well as a copy of the acquisition agreement. The State of New Mexico Energy, Minerals and Natural Resources Department has verified that both the Billali Mine and Jim Crow Mine, which are located in Grant County, New Mexico are currently in compliance with the administrative requirements of the Permits, with both mines in good standing and all reporting requirements current and compliant.

The company has acquired a dozen properties in just two years and management intends to obtain sufficient financing to allow Santa Fe Gold to develop these resources. 

The Billali Mine will require more preproduction development, but may have a greater potential of the three and the company expects to bring this mine into production, following Jim Crow and Imperial mines. It is anticipated the silica and mineral ores will be shipped directly to smelters as soon as production begins, without the need for processing plants, significant additional infrastructure or major capital.

The Company has also acquired rights to five patented claims and 82 unpatented claims in the Black Hawk district of New Mexico, acquired rights to four placer claims in British Columbia, Canada and owns an aggregate of 42 unpatented claims located in Grant County, New Mexico and Hidalgo County, New Mexico (including Pinos Altos claims).

The company’s address is Post Office Box 25201, Albuquerque, NM 87125, (505) 255-4852, email: [email protected], www.santafegoldcorp.com.