Santa Fe Gold Acquires Significant Holdings In The Playas Lake Bed Area Of Hidalgo County, New Mexico

ALBUQUERQUE, N.M., Nov. 01, 2016 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation (OTC:SFEG), a U.S.-based mining and exploration enterprise with emphasis on Gold, Silver, Copper and Industrial Metals and owner of multiple claims, including the Malone Mines and some 20 associated mine sites, is pleased to announce the acquisition of significant holdings in the Playas Lake Bed Area of Hidalgo county.

This acquisition represents an area three times the size of its recent Malone Mines acquisition and adds to the near term potential for Santa Fe Gold as it prepares for renewal of production and processing operations expected to begin in the near future. It is also circa-contiguous to the recent substantial acquisitions by BHP and Rio Tinto of some 20 square miles nearby.

The Playas is an area the Santa Fe Gold Exploration and Acquisitions team have been exploring for several years, is a dry lake bed, about five miles west of Lordsburg, encompassing in excess of 50 square miles.  It is flat and unencumbered, easily accessible from the major artery, I-10, headed west toward Tucson from Lordsburg.  The lake has been the repository of all the run-off, streams, etc., from the Burro Mountains (the same area as our Malone mine complex) for generations. 

As a consequence, the mineral content is rich and diverse as part of the polymorphic veins identified through the area, including concentrations of Gold, Silver, Platinum, Palladium and Copper along with a number of distinct other metals. 

An additional component of potential high value in this location is the presence of multiple 'Rare Earths', including notably high percentages of Ferro Titanium, Titanium Ore and other Titanium derivatives. Titanium is a highly valued metal with numerous high technology and aerospace applications and currently sells for about $2,000 per ton. 

The ore we would be reclaiming is basically surface recovery, running to a depth of about 30 feet and particularly because if its 'Rare Earth' components is deemed be of high potential.

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