Silver Sun Provides Update on Mining and Exploration Activities
May 03 2012 - 2:46PM
Business Wire
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) is
pleased to provide an update on its mining activities at the Cherry
Hill gold mine in Yreka, California as well as continued
exploration work programs at the Yoreme project in Sonora State,
Mexico and Zacatecas project in Zacatecas State, Mexico.
Cherry Hill, California
To date, the Company has extracted approximately 2,000 tons of
mineralized rock from the Cherry Hill gold mine. The Company
intends to run 400 tons of material through the Grants Pass, Oregon
mill in May to continue to determine the best methods for optimal
recovery.
Proceeds from the recently announced private placement (see news
release dated April 3rd, 2012) will be used to expand the main
working (Q4- drift) at Cherry Hill to ten feet by ten feet and to
purchase additional equipment such that mining will be trackless
with the goal of increasing the mining rate to 1,000 to 3,000 tons
per month. This expansion is expected to take up to 4 weeks and the
Company anticipates commencing production of a minimum of 1,000
tons per month in June.
Yoreme, Mexico
Field work at Yoreme has been successful in delineating
extensions if the San Manuel vein along strike as soil surveys show
multi-element anomalies along strike in both directions indicating
that the strike length of the vein could be as much as one
kilometre. Sampling of workings in the southern portion of the San
Manuel vein returned the following results:
Location Sample width (m) Ag (g/t)
Tiro 56 Channel 0.7 66.9 Dump dump 208.1 Dump dump 271.9
Tiro Jaime Channel 3.3 102.0 incl. 2.1 147.1 incl. 1.3 179.3
Obra San Manuel Channel 4.35 198.0 incl. 1.8 316.5
13 line kilometres of geophysics identified an approximately 300
by 400 metre large chargeability anomaly immediately southwest of
the San Manuel vein as well as a linear anomaly near the centre of
the property. Follow up field work has yet to determine the cause
of the larger anomaly, however work in the immediate vicinity of
the linear anomaly resulted in the discovery of at least 3 sub
parallel veins. These other veins are hosted within the intrusive
as opposed to the San Manuel vein that is hosted within the contact
of the intrusive and volcanic rocks.
Work at Yoreme was performed under contract by Minera Alta Vista
S.A. de C.V., a subsidiary of Yale Resources Ltd. (YLL-V) with whom
the Company completed its original Qualifying Transaction in
Zacatecas.
Zacatecas, Mexico
The Company is in ongoing discussions with its joint venture
partner in order to transfer 100% of the titles of the concessions
into the Company’s Mexican subsidiary.
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
sampling programs and who has reviewed and verified the technical
information contained in this news release.
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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