100,000 Feet of Drilling - Project to Date
Vancouver, B.C. July 23rd, 2008—SNS Silver Corporation (“SNS” or the
“Company”) (TSX-V: SNS) is pleased to announce further progress at the
Crescent Mine.
Year to date, Kettle Drilling has completed
30,700 feet of underground exploration drilling . Kettle continues to
drill from the Hooper Tunnel Level, initially focusing on exploring new
areas of the South Vein “off rake” (off projection) from the 2007
surface drilling discoveries.
Over 1,800 equivalent feet of
drifting has been completed on the Hooper Tunnel Level and starting in
June the underground drilling has been positioned to explore under the
projection of the South Vein discovers and those results will be
available in the coming weeks.
On the surface, almost 25,000
feet of drilling has been completed in the last seven weeks. We
anticipate announcing initial results within a week, and will continue
to have result releases throughout the summer as information becomes
available.
Rehabilitation of the Big Creek No.4/Alhambra Level,
located 500 feet above the Hooper Tunnel Level continues. Approximately
160 feet of new drift has been driven to by-pass dangerous conditions
whilst an additional 1,200 feet of the level has been rehabilitated.
This week, work started on the intersection at the top of the Hooper
Raise which connects the Alhambra and Hooper levels. This represents a
major milestone towards establishing the ventilation and secondary
escapeway required should the definition drilling currently underway
indicate production development is warranted.
“Currently, all
of our definition drilling is targeted on areas very near the Alhambra
and Hooper Levels. If these targets prove to be commercially viable,
our development lead time will be months, instead of years” said Tom
Fudge, President of SNS Silver Corp.
Silver Wheaton is our largest shareholder with 12%. SNS currently has $9 million in cash on hand.
SNS
Silver Corporation (SNS: TSX-V) is an exploration company, whose
primary asset is the100% owned Crescent Property, which hosts the
historic Crescent Mine, located near Kellogg, Idaho. The Property is
located in one of the largest silver districts in North America with
over one billion ounces of silver produced. The property consists of 24
patented mining claims over approximately 350 acres, alongside 40 acres
of surface rights. The Company currently has a comprehensive and
well-funded drill program underway. Their main focus is on upper
country core drilling on the Alhambra and South Veins, as well as
restoration and extension of existing underground infrastructure.
FOR FURTHER INFORMATION PLEASE CONTACT:
SNS
Silver Corp. David Greenway Vice President, Corporate Development (604)
689-0896 or Toll Free 1-800-663-4567. Email: dg@snssilver.com Website:
www.snssilver.com
Historical resource estimates quoted herein are based on data and reports obtained and
prepared by previous operators. The Company has not completed the work necessary to
independently
verify the classification of the mineral resource estimates and is not
treating the mineral resource estimates as National Instrument 43-101
defined resources verified by a qualified person. The historical
estimates should not be relied upon. The Crescent Mine will require
considerable further evaluation, which the Company's management and
consultants are in the process of completing.
