|
News Releases
| | August 08, 2007
Sterling in Final Commissioning of Silver Summit Hoist at Sunshine Mine
|
| | Wallace, Idaho - August 8, 2007 - (BUSINESS WIRE) - Sterling Mining Company (OTCBB: SRLM) today reported that the re-engineered Silver Summit Hoist is entering the final stage of commissioning. In addition to performing design and engineering for the power supply, hoist drive and controls, oversight and testing of the hoist and its safety features is being provided by Spencer Engineering of Ontario, Canada, an internationally respected hoist engineering firm, in order to meet stringent federal mine hoist regulations. The hoist is expected to be ready for service by mid August.
Raymond De Motte, Sterling's President and CEO, commented "The Silver Summit Hoist is a major component of our mine plan's critical path to build production capacity from mining at depth. The Silver Summit Shaft is required by law as a secondary escapeway for the Sunshine Mine in accordance with modern safety standards. Once the hoist is commissioned for full use, we will focus our attention on repairing the Silver Summit Shaft down to the 3000-foot level to complete the escapeway. Next we will restore power and services in our Sunshine and West Chance vein blocks for mechanized mining to resume from the 2700 and 3100-foot levels."
Initially, hoist operation servicing the Silver Summit Shaft on the east side of the Sunshine Mine will provide for the movement of equipment and personnel to the 3000 foot level. As deeper mine development and exploration is expanded, the service of the hoist will extend down to the 4000 foot level.
On the west side of Sunshine Mine, the primary Jewell Shaft hoists were re-conditioned and have been operational since April 2004 down to the 3100 level.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine, currently forecasted to begin production in December 2007, and related exploration lands in the prolific Silver Valley of northern Idaho. The Company also holds several silver properties in Mexico, including the Barones Tailings Project in the Zacatecas Silver District. Shares of Sterling Mining Company trade on the OTC Bulletin Board under the symbol "SRLM" and also on the Frankfurt Stock Exchange under the 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 or
Monique Hayes, Marketing/Communications
Tel: (208) 699-6097
CHF Investor Relations
www.chfir.com
Linda Armstrong, Vice President
Tel: (416) 868-1079 x229
linda@chfir.com
To receive Sterling news via email, please email julia@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. Along with additional underground rehabilitation and restoration of site facilities, the timetable for the continuing work program anticipates production beginning in December 2007. If we are able to stay on schedule with the mine work and obtain the funding, equipment, and qualified operations personnel as needed for the work program, we believe production by December is doable. 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, 2006 and subsequent 10-Q and 8-K filings. |
| |
| | You can view the Next News Releases item: Thu Sep 13, 2007, Sterling Begins Drifting on Silver Mineralization Exposed by Cross-Cutting at Sunshine Mine
You can view the Previous News Releases item: Thu Aug 2, 2007, Sterling Mining Completes Private Placements And Receives Conditional Approval For Toronto Stock Exchange Listing
You can return to the main News Releases page, or press the Back button on your browser.
|
|
