13:13:25 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Silver Sun Resource Corp
Symbol SSU
Shares Issued 36,421,384
Close 2010-12-31 C$ 0.35
Market Cap C$ 12,747,484
Recent Sedar Documents

Silver Sun to make stockpiles within Zacatecas project

2011-01-04 16:50 ET - News Release

Also News Release (C-IPT) Impact Silver Corp

Mr. Mark McLeary of Silver Sun reports

SILVER SUN PROVIDES CORPORATE UPDATE ON ZACATECAS PROPERTIES AND PROCEEDS FROM EXERCISE OF WARRANTS

Silver Sun Resource Corp.'s board has determined to proceed with the production of the stockpiles within the Zacatecas concessions located in the Zacatecas district in north-central Mexico. Further, the company has access to additional mineralized stockpiles in the immediate area of which the company has previously trenched, sampled and surveyed. The company's Zacatecas project is jointly owned with Impact Silver Corp., with the company holding a 73-per-cent interest in the project. A copy of the company's NI 43-101 technical report on the Zacatecas properties dated Aug. 21, 2008, is available on SEDAR.

Further to the company's Stockwatch news release of Oct. 4, 2010, and as disclosed in the company's management discussion and analysis for three months ended Oct. 31, 2010, the company has received the mining and reclamation permits required from the Mexican government in order to put the property into production. The company's ability to commence production is subject to a number of conditions including reaching agreements with mill owners to process material from the company's stockpiles. There is no assurance that the company will commence production on the Zacatecas properties or that such production will produce economically feasible results. The company is currently negotiating with local mill owners regarding the opportunity to produce through their mills. There is no assurance that the company will reach an agreement on commercially acceptable terms with the local mill owners as planned or at all.

Exercise of warrants

As a corporate update, the company is pleased to announce that it has received gross proceeds of $1,220,738.40 from the exercise of 12,207,384 warrants at a price of 10 cents per warrant into common stock of the company from prior private placements. The company intends to use its cash on hand to continue with its exploration/exploitation activities on its Mexican projects.

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