Strong volume on SRLM lately. Another push toward $10?
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Wallace, Idaho - August 8, 2007 - (BUSINESS WIRE) - Sterling Mining
Company (OTCBB: SRLM) today reported that the re-engineered Silver
Summit Hoist is entering the final stage of commissioning. In addition
to performing design and engineering for the power supply, hoist drive
and controls, oversight and testing of the hoist and its safety
features is being provided by Spencer Engineering of Ontario, Canada,
an internationally respected hoist engineering firm, in order to meet
stringent federal mine hoist regulations. The hoist is expected to be
ready for service by mid August.
Raymond De Motte, Sterling's President and CEO, commented "The Silver
Summit Hoist is a major component of our mine plan's critical path to
build production capacity from mining at depth. The Silver Summit Shaft
is required by law as a secondary escapeway for the Sunshine Mine in
accordance with modern safety standards. Once the hoist is commissioned
for full use, we will focus our attention on repairing the Silver
Summit Shaft down to the 3000-foot level to complete the escapeway.
Next we will restore power and services in our Sunshine and West Chance
vein blocks for mechanized mining to resume from the 2700 and 3100-foot
levels."
Initially, hoist operation servicing the Silver Summit Shaft on the
east side of the Sunshine Mine will provide for the movement of
equipment and personnel to the 3000 foot level. As deeper mine
development and exploration is expanded, the service of the hoist will
extend down to the 4000 foot level.
On the west side of Sunshine Mine, the primary Jewell Shaft hoists were
re-conditioned and have been operational since April 2004 down to the
3100 level.
AI
