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Sunshine gets lease for Virginius mine

Posted By: Northern Miner Staff April 25, 1994

Silver-miner Sunshine Mining (NYSE) has entered a mining lease with Revenue Virginius Mines for the Virginius mine in southwestern Colorado.

The mine, now closed, produced more than 14.5 million oz. silver from narrow, high-grade veins. Recent test work indicates that the ore is compatible with Sunshine’s patented hydrometallurgical process for treating complex sulphides.

Proven and probable reserves stand at 410,000 tons containing 4.9 million oz. silver.

Sunshine plans to evaluate various underground mining methods and possibly perform additional exploration drilling and drifting.

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