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VANCOUVER, April 2 /CNW/ - SNS Silver Corp. ("SNS" or the "Company") is pleased to announce that progress is being made at its Crescent Mine ("Crescent") in Idaho. Utilities have now been installed on the property with water, gas, and telecommunications infrastructure completed. Rehabilitation of the surface structures is well underway and completion is expected in the next few weeks. Mine Safety and Health Administration (MSHA) Field Training has been completed and a training plan has been instituted at the mine for underground miners as well as surface personnel.
Atlas Fausett Contracting ("Atlas Fausett") has been engaged to commence the re-opening of the Hooper Tunnel at the Crescent. Over the next one to three weeks, Atlas Fausett will be staging equipment and performing surface excavation, prior to any initial underground work. The opening of the Hooper Tunnel is the first phase of the Company's exploration plans for the Crescent Mine, which will include up to 41,000 feet of core drilling. The Company has also hired LFR Environmental to begin efforts on a pollution control plan at the Crescent and will be submitting it to the Environmental Protection Agency upon completion.
Additionally, the Company also began efforts to re-open the Big Creek No. 4 Tunnel ("Big Creek") located directly above the Hooper. Excavation of the Big Creek surface area is underway and the portal is expected to be open within the next few days. The Company intends to explore and examine the areas accessible by Big Creek to determine the potential for near term mining of ore in the upper portions of the Crescent, previously reported by past operators.
SNS Silver Corp owns 100% of the Crescent Mine in the Coeur d'Alene mining district. The Crescent Mine is a historic high-grade silver producer. From 1917-1982 the property produced 25 million ounces of Silver at an average grade of 27.3 ounces per ton. Prior to its last shut down in the 80's, previous operators of the Crescent Mine reported over 9 million ounces of silver resources at an average grade of 18 ounces per ton.
The property lies between two world-class silver producers, the Sunshine Mine, which has produced more than 300 million ounces of silver, and the Bunker Hill Mine, which has produced over 150 million ounces of Silver. The Coeur d'Alene district is the only known mining district in North America to have produced over 1 billion ounces of silver.
SNS Silver Corp (SNS) trades on the TSX-V under the symbol SNS. The Company has approximately 28.5 million shares outstanding and cash on deposit of $9,100,000.
All resource estimates quoted herein are based on data and reports obtained and prepared by previous operators. The Company has not completed the work necessary to independently verify the classification of the mineral resource estimates and is not treating the mineral resource estimates as ational Instrument 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. The Crescent Mine will require considerable further evaluation, which the Company's management and consultants are in the process of completing. The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
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