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Thursday, 27th December 2007 (2807 views)

Golden Phoenix Minerals has confirmed that its Nevada staking project is now complete.

The programme, which has added 193 claims to the Ashdown Molybdenum Mine in north-western Nevada, represents a 191 per cent increase in unpatented load claims under the control of Gold Phoenix and partner Win-Eldrich Mines.

Golden Phoenix's overall land package of the Ashdown project now amounts to 294 claims covering 5,580 acres along trend.

Staked over the last three months, the claims have been recorded in Humboldt County and filed with the bureau of land management.

Golden Phoenix's chief executive officer David A Caldwell confirmed that consolidation of holdings was a "good practice" to follow when there is an ore body of such a high quality grade.

Commenting on the acquisition of additional mineral rights, he said: "This gives our mine planners greater flexibility to develop the asset and offers the shareholders of both partners potential for future value to be uncovered."

Golden Phoenix Minerals is based in Sparks, Nevada with all its mining properties located in either Nevada or Ontario, Canada.

 

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