Silver Sun Provides Update on Cherry Hill Gold Mine
Date : 05/10/2011 @ 3:41PM
Source : Business Wire
Silver Sun Provides Update on Cherry Hill Gold Mine
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) is pleased to announce that it has formed a wholly owned U.S. subsidiary, Golden Sun LLC, as well as Cherry Hill Holdings LLC and Luckyboy Resources LLC which will function as the Joint Venture operating companies.
The Company received approval from the United States Forest Service (USFS) to continue with the current Plan of Operations, which is valid until the year 2015 using the permits and licenses that are currently in place. Once production resumes at Cherry Hill, the Company plans to apply to the USFS to broaden the Plan of Operations at Cherry Hill to include the entire property for which a full Environmental Assessment will be required.
The Company has contracted an experienced team of miners, some who have previously worked at Cherry Hill, and the main portal is now open and the workings are being readied for production to re-commence.
Company management was recently on site with Robert L. Hill, CA Reg. Geologist #3386, who was instrumental in interpreting the structural geology of the Cherry Hill Mine. The mine is centered on the Queen Vein, which has a known strike length of 1200 feet. The eastern portion of the vein has been mined out above level 3 (4450 feet) but remains open to depth. The Company will start mining from the existing 2 year old workings that access the Queen Vein from the west on level 4 (4360 feet) where ore has been blocked out between the 3rd and 4th levels.
“Having now been underground, we have a much better understanding of the nature of the Queen Vein and where we will have immediate access to blocked out ore,” stated president Mark McLeary.
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 engaged in an on-going work programme 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, and is responsible for monitoring the supervision and quality control of Silver Sun’s exploration programs and has not verified the historical data contained herein.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark A. McLeary”
President
Forward Looking Statements
The data included in the report of Robert L. Hill CA Reg. Geologist #3386 with respect to the Property is historical in nature. The Company is not treating the data as National Instrument defined resources or reserves verified by a Qualified Person, and the historical estimate should not be relied upon. The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company's production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.
This release contains forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risk that the conditions to complete the acquisition of the Property are not met including satisfactory completion of the Company’s due diligence and any inability to obtain any applicable regulatory or corporate consents or approvals for the proposed acquisition, the risks associated with the mining and exploration industry including operational risks in development, exploration and production; delays in obtaining any governmental approvals required for production of the Company's mineral properties, inability to obtain access to mills or reach an agreement on commercially acceptable terms for processing of mineralized material from the Company's mining projects, delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed 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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