Silver Sun Begins Milling Material from Cherry Hill
January 19 2012 - 9:00AM
Business Wire
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) is
pleased to announce that milling of the stockpiled material from
the Cherry Hill gold mine will begin tomorrow at the gravity and
floatation circuit mill in Grants Pass, Oregon.
Approximately 200 tons of the initial 2,000 tons of material
will be processed over a two day period in order to determine the
best methods for optimal recovery of gold and silver. In addition
processing of this initial batch of throughput will quantify the
amounts, if any, of deleterious elements present in the
tailings.
Concentrates from the mill will be shipped to a refinery in
Sparks, Nevada, where both the Company and the refiner will have
fire assays completed to establish the grade of the concentrate for
final pricing. Prices for all metals purchased by the refiner will
be set based on the final bid price from the London Bullion Market.
Final pricing will be settled as of the next business day upon the
Company’s signed Settlement Summary. Final valuation of the
concentrates will be determined primarily by the assayed grade of
the Au concentrate and any elevated levels of certain elements that
require additional scrubbing and/or disposal.
Anticipated free gold recovered will be melted into 10 oz.
“dore” bars, which will then be analyzed by a recognized laboratory
that will provide a certificated of grade; then sold to a
purchasing agency provided through the International Precious
Metals Institute (IPMI).
The Company will announce the results of the milling and assays
as they become available.
About Silver Sun Resource Corp.
Silver Sun Resource Corp. is a Canadian-based resource company
focused on the acquisition, exploration and development of precious
metal deposits in North America. The Company is in the production
stage with its gold project in Yreka, California and engaged in an
on-going work program on the Zacatecas, Salvador, and Mina San Jose
properties located within the prolific Zacatecas Silver District in
Mexico, as well as its Yoreme Silver Project in the mining district
of Alamos, Sonora State, Mexico. The Company has an experienced
management team with a growth strategy to develop a diversified
portfolio of mining projects that can be taken to production in the
near-term. The company's design is to add shareholder value through
efficient exploration, strategic acquisitions and effective
marketing while maintaining a low risk profile through project
diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark A. McLeary”President
Forward Looking Statements
This news release contains statements that constitute "forward
looking information" within the meaning of applicable Canadian
provincial securities legislation ("forward-looking statements").
Forward-looking statements often, but not always, are identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect", "targeting" and "intend" and statements that
an event or result "may", "will", "would", "should", "could", or
"might" occur or be achieved and other similar expressions. The
description of the extent of mineralized zones is not intended to
imply that any economically mineable estimate of reserves or
resources exists on any of Silver Sun’s projects.
The forward-looking statements that are contained in this news
release are based on various assumptions and estimates by Silver
Sun and involve a number of risks and uncertainties. As a
consequence, actual results might differ materially from results
forecast or suggested in these forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors that may cause the
actual results, performance or achievements of Silver Sun to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Factors that could cause the actual results to differ
include; risks relating to fluctuations in the price of gold; the
inherently hazardous nature of mining-related activities;
uncertainties concerning resource estimates; results of
exploration, availability of capital and financing on acceptable
terms, inability to obtain required regulatory approvals,
unanticipated difficulties or costs in any rehabilitation which may
be necessary, market conditions and general business, economic,
competitive, political and social conditions. These statements are
based on a number of assumptions, including assumptions regarding
general market conditions, timing and receipt of regulatory
approvals, the ability of Silver Sun and other relevant parties to
satisfy regulatory requirements, the availability of financing for
proposed transactions and programs on reasonable terms and the
ability of third-party service providers to deliver services in a
timely manner. Although Silver Sun has attempted to identify
important factors that could cause actual results to differ
materially from those expressed or implied in forward-looking
statements, there may be other factors which cause actual results
to differ. Forward-looking statements contained herein are made as
of the date of this news release and Silver Sun disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise,
except as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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