Sunshine Reports Encouraging Results

Boise-based Sunshine Mining and Refining Co. reported encouraging findings Tuesday at its Pirquitas silver and tin mine in Argentina.

Drilling and geological modeling suggest that the mine could produce as much as 17 million ounces of silver each year, and as many as 9 million pounds of tin.

For comparison, the Sunshine Mine in Idaho’s Silver Valley produced 1.7 million ounces of silver last year. It has in its past been one of the world’s richest silver mines.

Even with today’s depressed silver prices, Pirquitas could be very profitable for Sunshine, said John Simko, president and chief executive officer.

Sunshine bought the underground workings of Pirquitas in November 1995, but plans to mine the deposit as an open-pit mine.

The company continues to sample rock from lower levels of the mine to further establish the grade and ore tonnage. The final test work should be done by the first half of 1997, along with a feasibility study that will tell the company if it can mine Pirquitas profitably.

, DataTimes