Silver Sun Commences Commercial Production at Cherry Hill Gold Mine
28 October 2011 - 12:30AM
Business Wire
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) is
pleased to announce production has started at the wholly owned
Cherry Hill gold mine, located in Siskiyou County, California.
The start of operations will focus on accessing the main zone of
mineralization in the Q4 portal. The Q4 i-drift is being developed
on the vein where initial production is planned. Production may
increase over time as additional mining faces and raises are
developed. The Company is currently stockpiling the mineralized
material at their secured storage facility and expects to begin
trucking the throughput to the Merlin mill, which is located
approximately 90 miles north in Grants Pass, Oregon, by
mid-November.
Mark McLeary, President and CEO of Silver Sun commented, “For
Silver Sun to begin mining at the Cherry Hill gold mine is a
historical milestone for our young company. Our California mining
project should make a positive contribution towards economic
development of the city of Yreka by providing employment and
support for local businesses, in full respect of the highest
environmental standards.”
The Company will be providing regular updates with regards to
production activities on its quarterly financial statements.
The Company notes that 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. 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.
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