Silver Sun to Begin Milling Material from Cherry Hill Gold Mine
Silver Sun to Begin Milling Material from Cherry Hill Gold Mine
Vancouver, British Columbia CANADA, October 03, 2012 /FSC/ - Silver Sun Resource Corp. (SSU - TSX Venture, SSUXF - OTCQX),is pleased to announce that the Company has begun to truck 1,000 tons of mineralized material to Grants Pass, Oregon for immediate processing at the Merlin contract mill.
Trucking and milling is anticipated to take approximately 30 days. Upon completion, the gravity and floatation circuit concentrates will be delivered to Just Refiners of Sparks, Nevada. Just Refiners and the Company's representative, Inspectorate Labs, will then assay the concentrates for gold content. Upon agreeing to the average saleable grade (and thus, gold content - minimum 3oz per ton) for the concentrates, final sale is expected within 21 days thereafter.
"Over the past few months we have continued to expanded the mine's efficiency by increasing the main working drift to 10' by 10' and going to a trackless, rubber tire system", stated Company President, Mark McLeary. "This more efficient system of underground mining may allow the Company to expand its production capabilities beyond 1,000 tons per month if desired. As well, during this period of time, we continued to provide mine tours to brokers, investors and analysts each month to personally showcase our continued efforts at Cherry Hill to the investing community".
In January the Company processed 210 tons of mineralized material from the Cherry Hill Mine at its contract mill (see news release dated Jan. 19th, 2012) to determine the best methods for optimal recovery of precious metals as well as to quantify the amounts, if any, of deleterious elements present in the tailings. The results (see news release dated March 1st, 2012) provided the Company with sufficient information to begin ramping up production to 1,000 tons per month.
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"
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.
SILVER SUN RESOURCE CORP.
Suite 400 - 409 Granville Street
Vancouver, BC, V6C 1T2
Telephone: (604) 678-2531