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News Releases
| | November 14, 2005
Sterling Mining Company Announces Progress at its Barones Project in Mexico
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| | Wallace, Idaho, November 14, 2005 (Business Wire) - Sterling Mining Company (OTC:SRLM) is pleased to provide an update on the activities at its Barones project, a silver tailings recovery project in Zacatecas, Mexico.
The Barones project originally was conceived as a two-phase project for the construction of up to 30 concrete VATS to process tailings. Phase One included 18 VATS, which have been completed, and Phase Two consists of 12 VATS.
During the third quarter, average monthly production was 20,000 ounces of silver. Monthly silver production tended to vary with both the percentage of material processed from either the Barones or San Acacio sites and, typical of thiosulfite processing, as operating experience provided ongoing inputs to further optimize recoveries. However, original forecasts of the net 1.2 ounces silver recovered per ton (depending on grade, recovery rates and cycles of the VATS) is being exceeded as average net recovery is now at 2.5 ounces silver per ton.
Sterling Mining Company, President Ray De Motte, stated: "We are pleased to be producing silver from the facility at the current rate and forecast increasing production as we gain experience with the thiosulfate VAT process. We also anticipate capacity expansion through Phase II of the project."
Sterling began processing material at the end of March, with initial full-month production at 3,000 tons increasing monthly to over 8,300 tons in September with further increases expected. In addition to processing tailings from the Barones, Sterling is also processing material from San Acacio project, which has increased the average grade and potential silver recovery.
Precipitate and dore bars can both be produced at the facility. Sterling is currently shipping precipitate to a local smelter and material from the San Acacio dumps and the Barones tailings is being stockpiled at the Barones processing facility.
Sterling Mining Company controls the legendary Sunshine Mine, the richest silver mine in American history with more than 360 million ounces of production over the past century. The Company also holds several properties in Mexico, including the Baroness Tailings Project in the Zacatecas silver district, which began production in 2005. Sterling stock trades on the OTC Market Exchange under the symbol "SRLM". Please visit the Sterling website at www.sterlingmining.com for more information
Certain statements contained in this press release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on beliefs of management as well as assumptions made by and information currently available to management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
For more information contact:
Sterling Mining Company
Raymond De Motte, (208) 666-4070
www.sterlingmining.com
Investors Relations Contacts:
Cavalcanti Hume Funfer Inc. (CHF Inc.)
Olav Svela, Vice President & Account Manager,
Tel: (416) 868-1079 ext: 242
olav@chfir.com
Cathy Hume, CEO
Tel: (416) 868-1079 ext.: 231
cathy@chfir.com
If you would like to receive press releases via email contact Alison Tullis at Alison@chfir.com. and specify "Sterling press releases" in the subject line. |
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