Silver Sun to Begin Milling Material from Cherry Hill Gold Mine
October 03 2012 - 9:15AM
Business Wire
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) is
pleased to announce that the Company has begun to truck 1,000 tons
of mineralized material to Grants Pass, Oregon for immediate
processing at the Merlin contract mill.
Trucking and milling is anticipated to take approximately 30
days. Upon completion, the gravity and floatation circuit
concentrates will be delivered to Just Refiners of Sparks, Nevada.
Just Refiners and the Company’s representative, Inspectorate Labs,
will then assay the concentrates for gold content. Upon agreeing to
the average saleable grade (and thus, gold content – minimum 3oz
per ton) for the concentrates, final sale is expected within 21
days thereafter.
“Over the past few months we have continued to expanded the
mine’s efficiency by increasing the main working drift to 10’ by
10’ and going to a trackless, rubber tire system”, stated Company
President, Mark McLeary. “This more efficient system of underground
mining may allow the Company to expand its production capabilities
beyond 1,000 tons per month if desired. As well, during this period
of time, we continued to provide mine tours to brokers, investors
and analysts each month to personally showcase our continued
efforts at Cherry Hill to the investing community”.
In January the Company processed 210 tons of mineralized
material from the Cherry Hill Mine at its contract mill (see news
release dated Jan. 19th, 2012) to determine the best methods for
optimal recovery of precious metals as well as to quantify the
amounts, if any, of deleterious elements present in the tailings.
The results (see news release dated March 1st, 2012) provided the
Company with sufficient information to begin ramping up production
to 1,000 tons per month.
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 statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934 and "forward
looking information" within the meaning of applicable Canadian
provincial securities legislation (collectively, "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. Forward-looking statements in this news
release include statements regarding the timing and nature of
permitting approvals, the timing and nature of infrastructure
developments and construction, completion of project milestones,
projections of future optimization, the timing of negotiations with
third parties, and the timing and nature of production timeline
targets which are dependent on projections which may change as
testing and processing continues.
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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