|
News Releases
| | January 08, 2007
Sterling Tunnel Reaches Halfway Mark as Upper Country Drilling Continues
|
| | Wallace, Idaho - January 8, 2006 - (BUSINESS WIRE) - Sterling Mining Company (OTCBB: SRLM) today reported that the main heading of the Sterling Tunnel at the Sunshine Mine has passed the halfway mark ahead of schedule on its advance to connect with the Polaris Drift-Silver Summit Tunnel which lies another 1,705 feet away. Connecting the two tunnels will provide a new escapeway from the Silver Summit hoist area and expand the ventilation capacity of the Mine as a whole while, at the same time, providing for drill platforms to test target areas previously identified in the Upper Country, as well as accessing older workings.
The 61,660-foot Upper Country drilling program has been designed by Sterling's Chief Geologist, Jeff Moe, to explore ground both north and south of the Sterling Tunnel. The target areas of the Sunshine and Yankee Boy veins are accessible from the Sterling Tunnel using shorter-range pneumatic equipment and will encompass 10,295 feet of drilling. To the north of the Tunnel, the program is designed for long-range drilling (over 10,000 feet) to test the up-dip projections of the Silver Syndicate and Copper veins. As development of the Tunnel advances eastward, the Link, Hook, Chester and Yankee Girl veins will become accessible for drilling. Ores identified in the upper levels of the mine could be developed quickly with rubber-tired LHD (load-haul-dump) equipment at potentially lower costs.
Raymond De Motte, Sterling's President explained "The Sterling Tunnel is part of our Upper Country strategy designed to complement forecast production from deeper levels. The drilling program targets areas identified in our 2003-2005 exploration programs, as well as older workings and adjacent areas that were previously unmined due to the property's historical boundaries. Drilling is underway, by both internal and contractor drill crews, and is expected to be proceed continuously."
Exploration and development work within the Upper Country areas is being done concurrently with work to renovate the Silver Summit shaft and hoist. The Silver Summit shaft and hoist work is to meet the requirements necessary to develop and mine the deeper levels at the Sunshine Mine.
About Sterling Mining Company
Sterling Mining Company controls America's legendary Sunshine Mine and related exploration lands in the Silver Valley of North Idaho. The Company also holds several silver properties in Mexico, including the producing Barones Tailings Project in the Zacatecas silver district. Shares of Sterling Mining trade on the OTC Bulletin Board under the symbol "SRLM" and also on the Frankfurt Stock Exchange, trading symbol "SMX".
FOR FURTHER INFORMATION, visit the Company's website at www.SterlingMining.com or contact:
Sterling Mining Company
www.SterlingMining.com
Raymond De Motte, President
Tel: (208) 666-4070
CHF Investor Relations
www.chfir.com
Cathy Hume, CEO
Tel: (416) 868-1079 x231
cathy@chfir.com
To receive Sterling news via email, please email Alison@chfir.com and specify "SRLM news" in the subject line.
This press release does not constitute an offer to sell or a solicitation to buy securities, and contains forward looking statements regarding the Company within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements are based on assumptions that the Company believes are reasonable but that are subject to uncertainties and business risks. Actual results relating to any and all of these subjects may differ materially from expected results. Factors that could cause results to differ materially include economic and political events, the ability to raise capital in the financial markets, and other factors discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2005. |
| |
| | You can view the Next News Releases item: Fri Jan 19, 2007, Sterling Mining Completes US$8,498,500 Offering
You can view the Previous News Releases item: Mon Dec 4, 2006, Sterling Mining Company Announces Trenching Results at San Acacio
You can return to the main News Releases page, or press the Back button on your browser.
|
|
