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SMRS Aiming to Become Active Zinc Producer with

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QualityStocks Member Level  Tuesday, 08/09/16 01:36:40 PM
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SMRS Aiming to Become Active Zinc Producer with Balmat Zinc Mine

First recognition of sulfide zinc mineralization in the Balmat region of upstate New York was in the early 1800s. In the early 1900s, production began. Since then, the greater Balmat-Edwards-Pierrepont district has produced more than 43 million tons of ore. The average grade ranged from 8.5 percent zinc to 16.4 percent. Unfortunately, in the early 2000s, zinc prices crashed and mining in the area stopped. The mine reopened briefly from 2006 to 2008, when it was placed on care and maintenance status due to a new fall in the price of zinc and the general economic downturn.

However, Star Mountain Resources (OTC: SMRS), a junior exploration and mining company whose operations are currently focused on base metals and precious metal mining acquisitions in North America, is aiming to recommence mining activities in the Balmat zinc mine. The company is now the full owner of the mine, which is fully permitted and in compliance with all federal and state mining regulations.

Historically, the Balmat zinc mine produced up to 30.7 million tons of 8.6 percent grade zinc. Star Mountain Resources, Inc. has put together an eight and half year plan whereby it will be using modernized mechanisms to perform underground mining using room, pillar, and long hole stoping. The mine is said to have a 4,000 tons per day hoisting capacity, with a mill able to produce 5,000 tons of zinc concentrator per day.

SMRS is currently undertaking the necessary steps toward restarting the Balmat zinc mine in order to transform the company from a junior explorer into an active producer. Not only this, the transaction brings SMRS a high quality mining asset and new professionals to its board of directors and senior management. The reopening of the mine is expected to boost the economy of the region and provide new jobs. SMRS expects the mine to be running by the end of 2016.

For more information, visit www.starmountainresources.com

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