Sunshine Mining & Refining (SSC-N) posted its second consecutive quarter of record production at its namesake mine in northern Idaho.
In the first three months of 1997, Sunshine cranked out 901,000 oz. — 62% higher than in the first quarter of 1996.
“Our production levels in 1997 will be the highest of any year since 1990,” says Chairman John Simko. “Total production for the year should exceed 4 million oz. By the third quarter, we should be producing around 5 million oz.
per year.”
The West Chance vein system, discovered in 1992, will provide nearly all of the mine’s 1997 production. Total reserves at the mine are 1.7 million tons grading 21.7 oz. silver per ton, equivalent to more than 36 million oz.
silver. Of that amount, 13 million oz. are in the West Chance.
Meanwhile, in northwestern Argentina, the company has completed infill drilling on the main part of the Pirquitas silver deposit. A new resource calculation should be available several weeks after the drill results have been received.
Sunshine expects to receive metallurgical test results within the next month.
William Davis, spokesman for the company, says that, by then, Sunshine will be able to establish the economics of the orebody. A bankable feasibility study is expected to get under way in June.
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