SS6 Pan American Energy Corp

Silver Sun Resource Corp. (“Silver Sun” or “the Company”) announces metallurgy test results indicate recoveries of 94.69% for gold and 87.15% for silver are attainable for material from the Company’s wholly owned Cherry Hill Gold Mine located in Siskiyou County, California.

The approximately 50 pound sample was taken from the Q4 i-drift, where initial production is planned and was sent to Norris Labs in Norris, Montana for analysis. Norris Labs reported an initial split grade of 0.428 oz/T Au (14.67 g/t) and 0.32 oz/T Ag (10.97 g/t) with a secondary split grade of 0.084 oz/T Au (2.88 g/t) and 0.32 oz/T Ag (10.97 g/t) confirming the ‘nuggety’ nature of the mineralization at Cherry Hill. The Company has retained Derrick Strickland, P. Geo, to prepare a National Instrument 43-101 compliant technical report with respect to the Cherry Hill project which is anticipated to be available through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com by the end of the calendar year.

“These metallurgical results are extremely encouraging” commented Mark McLeary, President of Silver Sun. “In addition to the high recovery rates, the mineralized material from the Cherry Hill mine should provide for a high level of free-gold concentrate prior to floatation”.

As noted in Silver Sun’s October 21st, 2011 news release (see, www.sedar.com), the Company is currently stockpiling approximately 45 tons per day of mineralized material for delivery to the 400 ton per day Merlin gravity/floatation mill located in Grants Pass, Oregon.

There are no known reserves at Cherry Hill and Silver Sun has not yet reported any mineral resources in compliance with National Instrument 43-101 of the Canadian Securities Administrators and therefore, potential quantity and grade reported has been derived only from the reports received for Norris Labs and must be considered conceptual in nature. There can be no assurance that any mineral resource will be delineated at Cherry Hill. Any production decision with respect to the Cherry Hill Mine is not to be based on the results of a pre-feasibility study or feasibility study of mineral reserves or mineral resources demonstrating economic or technical viability. Any production decision will be based on estimates of potential grades and quantities of mineralization, along with other available information, including cost estimates. As a result there are significant economic and technical risks of failure associated with any production decision including but not limited to risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; future metallurgy or mining results not being consistent with the Company’s expectations; risks related to environmental regulation and liability; political and regulatory risks; and risks related to failure to obtain adequate financing on a timely basis and on acceptable terms.

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 final stages of development of 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 newly acquired 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.

Ian Foreman, P. Geo, is the Company’s Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Silver Sun’s exploration programs and who has reviewed and verified the technical information contained in this news release.

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. Forward-looking statements in this news release include statements regarding the timing and nature of permitting studies, the timing and nature of infrastructure developments and construction, projections of future optimization, production timeline targets, the timing of negotiations with third parties, and the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. 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.

Pan American Energy (TG:SS6)
Historical Stock Chart
From Nov 2024 to Dec 2024

Pan American Energy (TG:SS6)
Historical Stock Chart
From Dec 2023 to Dec 2024