I have recently made some home pressed olive oil but it is quite cloudy and I wanted to filter it so it will keep longer and be a bit more pleasing to the palate and the eye. I initially used a muslin (ham) bag in a steel colander over another steel bowl and weighted down with 70kg of gym weights to press. I was wondering if it is effective to try running it through paper coffee filters to get rid of the fine particles?
I have picked and processed hundreds of kilos of olives for oil. I store the cloudy oil in plastic water bottles in a dark cupboard and wait. The sediment will fall and then you just drain off the clear oil. The remaining oil with the sediment in it I use for tools, hinges etc and other DIY uses.
This site http://www.ehow.com/how_6673045_build-olive-oil-press.html offers help.
The raw oil can be filtered by through a coffee filter or fine mesh strainer to remove particulate matter. Filtered oil is less likely to burn during cooking.
Also check out this from http://www.ehow.com/how_7767059_make-oil-processing-equipment-home.html
The oil is not ready to use after pressing. It needs to be cleaned and filtered. This requires only buckets, water, a funnel and coffee filters.
You may also want to read this before you decide if you really want to filter your oil.
Your other choice is to let gravity do its work. Let the oil rest until its particles sink to the bottom (probably a long time), after that extraction is simpler.