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SNS Silver Corp.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: |
1000 - 409 Granville Street
Vancouver, B.C.
Canada V6C 1T2
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| Tel No.: |
(604) 689-0896
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| Fax No.: |
(604) 688-4933
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| Toll Free No.:
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1-800-663-4567
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| Web Site: |
www.snssilver.com
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| Corporate Email: |
dg@snssilver.com
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| Contact Person: |
David Greenway
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| Position: |
VP of Corporate Development and Communications
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COMPANY DATA
| Traded Market: |
TSX-V |
| Traded Symbol: |
SNS |
| Outstanding Shares: |
40,557,298 |
| Public Float: |
40,557,298 |
| 52 Week High: |
$ 2.19 |
| 52 Week Low: |
$ 0.65 |
| Present Price: |
Click Here |
INTRODUCTION
SNS Silver Corp. is an exploration mining company, whose primary asset is the 100%-owned Crescent Mine located inv Kellogg, Idaho in the Coeur d'Alene mining district - the only known district in North America to have produced over one billion ounces of silver. The property consists of 24 patented mining claims over approximately 350 acres, alongside 15 acres of surface rights. The Company currently has a comprehensive and well-funded drill program underway. Their main focus is on upper country surface drilling and underground drilling on the Alhambra and South Veins, as well as restoration of the Hooper Tunnel, drifting and cross-cutting.
PROJECT IN HAND
Crescent Mine Project, Idaho
The Crescent Mine is located in Big Creek canyon approximately four miles south of the Interstate 90 just east of Kellogg, Idaho in the Coeur d'Alene mining district. Mining has been carried out in the District for more than 100 years; it is the only known mining area in North America to have produced over one billion ounces of silver. Ore bodies in the District are unique in that they are persistent at great depths far in excess of one mile. Geologists have not uncovered any evidence to date, which suggests a limit to the depth to which ore might extend.
Adjoining the Crescent Mine land position on the east side and less than 300 yards from the Hooper Tunnel (the main access for the lower Crescent) is the world famous Sunshine Mine. One of the richest silver mines in the world; the Sunshine has produced over 328 million ounces of silver, 71,000 tons of lead, 50,000 tons of copper and 37,500 tones of antimony. Bordering the Crescent Mine property on the west is the largest tonnage producer in the district, the Bunker Hill Mine with a total output of 3,119,121 tons of lead, 161,384,305 ounces of silver and 1,311,266 tons of zinc.
The Crescent Mine has excellent potential to host a high-grade world-class silver ore body. A number of significant factors create a remarkably bright outlook for the Crescent. These include:
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Location, the Crescent is literally located between two of America's most prominent mines the Sunshine and Bunker Hill, with combined silver production of over 400 million ounces.
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Geology, the property is underlain by the most favorable conditions in the Coeur d'Alene district to yield ore discoveries. A combination of structures and favorable lithology at the contact of the St. Regis and Revett formations indicate potential for high-grade ore occurrences in portions of the mine that are still relatively unexplored and developed. The majority of ores in the Silver Belt occur in similar areas.
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Near term mining potential, with the existence of significant mining, milling and processing infrastructure located nearby and known ore occurrences in the upper workings, profitable mining opportunities can be accomplished relatively quickly at the same time more reserves are being developed. Several veins and stopes still had good ore present prior to the cease of operations in the upper Crescent in 1940.
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High grade ore bodies. The Crescent Mine was historically the highest-grade producer in the Silver Belt. While the average grade of Crescent historical production is between 25 and 30 ounces per ton, there were a number of years in which the average grade of production was greater than 50 ounces per ton silver for the entire year.
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Major areas of unexplored ground with the most favorable geology for high-grade discoveries. Historically the highest grade and most production in the Silver Belt come from the contact zone of the St. Regis and Revett Formations. Despite the fact that several veins in the Crescent are projected through this area it still remains relatively untouched. The area between the 1200 and 2500 level actually present the best potential geologically in the whole mine. Little exploration has been conducted in this area. It offers excellent potential for the discovery of numerous high-grade veins and ore shoots.
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Past operations had limited production capabilities. As a result of Crescent Mine ore being hauled underground and then hoisted and processed through Bunker Hill Co. milling facilities, the property was never developed or mined on nearly the scale it could have supported. Facilities at the Bunker Hill Co. limited the amount of ore that could be processed so further development never occurred, subsequently, the Crescent is one of the few properties in the Silver Belt that remains highly prospective yet relatively un-mined compared to its potential.
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Favorable metal prices, with Silver over $12 per ounce market conditions are very favorable Coeur d'Alene district mines typically produce for around $5 per ounce silver. Lead and Zinc are at highs and the potential for high-grade lead ore bodies is good. Both the "Lead" vein and the "Steep Lead" vein are silver-lead bearing galena veins that were for the most part left un-mined as a result of low lead prices in previous eras.
2007 - 2008 Drill Program:
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34-45,000 ft of drilling to define upper portion of the Alhambra and South Veins. Budget: $2.25 million.
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Excavation and restoration of the Hooper Tunnel. Budget: $1.5 million.
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100,000 ft of underground drilling of the lower extent of the Alhambra and South Veins - to commence early 2008. Budget: $5 million.
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5,000 ft of drifting and cross cutting to identify underground drill sites which extend beyond the Hooper Tunnel - to commence late 2007. Budget: $5 million.
MANAGEMENT
SNS Silver Corp. has a professional management team with experience in different areas.
Neil Linder, President and Director
Mr. Linder began his career with a boutique VC firm in Vancouver, B.C. which was one of the first firms to invest in early stage junior industrial companies and subsequently take them public. Mr. Linder quickly progressed, to building his own VC, Strategic Equity Corp. Among his successes were Blue Mountain Vineyards and Cellars, Insulpro Industries, Healthcare Capital, International Hard Suits, as well as two tax driven VCC funds. Mr. Linder has combined his strategic guidance with fund raising to his client companies allowing them to grow organically and by strategic acquisition. Mr. Linder has raised over $100 million for client companies throughout his career.
David Greenway, Vice President of Corporate Development
Mr. Greenway joined SNS Silver Corp. in early 2006. His currently role is as Vice President of Corporate Development. His extensive knowledge in the market area and his valuable contacts make he a top addition to the SNS team. He was highly instrumental in the acquisition of the Crescent Mine in the Silver Valley in Coeur d'Alene, Idaho.
Mr. Greenway studied at Nelson College on the tip of New Zealand's South Island, later transferring to Poole College in Poole, England. He then attended Bournemouth University where he studied Accounting and Finance.
Thomas F. Fudge Jr., PE, Vice President of Operations and Director
Mr. Fudge is a licensed professional mining engineer with more than 30 years of experience in mining engineering, mine operations and project development. He has a bachelor's degree in mining engineering from Michigan Technology University and continuing education in rock mechanics, mine ventilation, project management, labor agreements and organizational development. He has been a director of SNS Silver since December 2006 and prior to joining the SNS management team in January of 2008 was president and CEO of Concentric Energy, a development stage uranium company. He spent almost 12 years with Hecla Mining Company, much of that time as of Vice President of Operations and President of the Venezuelan subsidiaries. He has extensive experience in the Coeur d'Alene Mining District including more than 3 years in the Sunshine Mine, located immediately to the east of the Crescent Mine.
Ron Ho, CA, Chief Financial Officer
Mr. Ho was appointed Chief Financial Officer in January, 2007. Most recently, Mr. Ho was an Equity Analyst at Raymond James Ltd. where he was responsible for sector institutional research. Prior to that, Mr. Ho worked for Deloitte & Touche, focusing on public company financial reporting in both the U.S. and Canada. Mr. Ho is a Chartered Accountant and holds a Bachelor of Commerce from the University of British Columbia.
Brian White, Staff Geologist for the Crescent Mine
Mr. White has been involved in applied exploration and rock mechanics research in the Coeur d'Alene Mining District for 30 years. During this time he has worked for all of the major mining companies in the area and in nearly all the active mines. His personal experience and knowledge of the region is unmatched. He substantially reinterpreted the major tectonism of the Coeur d'Alene district and the Lewis and Clark line.
Craig Durick, Mine Superintendent
Mr. Durick is a third-generation miner with more than 20 years experience in a wide range of underground mining operations, including raise, production and drift mining, mine rehabilitation, and ore processing. Mr. Durick will be overseeing rehabilitation and exploration activities at the Crescent mine.
Mr. Durick has worked for a variety of major silver producers including Asarco, Coeur d'Alene Mines, Sunshine Mining Co., New Bunker Hill Mining Co., and U.S. Silver and Bunker Limited Partnership. Mr. Durick was also involved with the closure of the Crescent Mine in 1990. Mr. Durick is an alumnus of North Idaho College and the University of Idaho, and Mr. Durick is certified as a maintenance electrician by the State of Idaho.
Jesse Bird, Geologist
Mr. Bird is a 2006 graduate of the University of Idaho with a B.Sc. in Geology and since 2004 has been a Geological Cartographer and GIS Assistant to the Idaho Geological Survey.
Mr. Bird focused much of his undergraduate study on the Revett Formation as it runs through the Silver Belt of which the Crescent Mine is a central part.
Board of Directors
Neil Linder, President & Director
David Greenway, Vice President of Corporate Development
Thomas F. Fudge Jr., Director
Ishiung Wu, Ph.D., MA Harvard, Director
Michael Kuta, Director
Advisory Board
John Morgan Edwin Percival, Advisory Board Member
Norm Radford, Advisory Board Member
NEWS UPDATE
On January 14, 2008, SNS Silver Corp. announced the results from recent diamond drill hole SNS-604, intercepted a core length of 7.15 feet (2.18 metres) with an average grade of 16.39 oz/t (562 g/t) of silver. Approximately 187 feet (57 metres) west of SNS-604, drill hole SNS-603 intercepted 6.61 feet (2.01 metres) with an average grade of 9.43 oz/t (322 g/t) of silver.
The weighted averages from these intercepts in SNS-603 and SNS-604 are from 766.62 to 773.23 feet and from 798.35 to 805.50 feet, respectively. The true width intercepts of SNS-603 and SNS-604 are 5.38 feet (1.64 metres) and 6.20 feet (1.89 metres), respectively.
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