VANCOUVER, April 23 /CNW/ - SNS Silver has signed a contract for Atlas-Faucet Contracting (AFC) to begin rehabilitation of the Hooper Tunnel. AFC provides a variety of services, including site evaluation, feasibility studies, trouble-shooting and consultation prior to the undertaking of exploration, mine development and rehab and underground drilling work. AFC projects include all types of underground mine development, rehabilitation and specialized civil construction. AFC crews are experienced and have the required licenses to work in Idaho. AFC operates under a permit from the Mine Safety and Health Administration and also possesses a permit to handle explosives from the Bureau of Alcohol, Tobacco and Firearms. Over the last two weeks material has been staged at the mouth of the Hooper Tunnel on the sight of the Crescent Silver Mine and the excavation and rehab of the Hooper Tunnel has begun. The hoist room is approximately 1 mile into the mountain we expect the rehabilitation to be completed within 3 to 6 months. It is impossible to tell accurately although there was a safety test done back in the 1990's by a Mine Rescue team in Kellogg where there was only one single partial slough. The team during their safety training was able to get by and reach the hoist room. Today as we begin, the Hooper tunnel has a tight slough at about 100 feet in and once AFC gets through the slough, we will have a better idea of how long that will take AFC to reach the hoist room. We will be providing ongoing updates of the process.
Diamond drill sites will be constructed at appropriate locations as the crew moves forward through the tunnel. These will be used for drilling veins above and below the Hooper level. Timing for drilling below the Hooper Tunnel is dependent on how rapidly the Hooper Tunnel can be rehabilitated. Currently Brian White staff geologist for SNS has been working on an underground drill program which will consist of over 100,000 feet of drilling.
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 national 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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