Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Silver Sun Resource Corp. (“Silver Sun” or “the Company”) 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.
