Published on January 16, 2016
1. Crescent Mine Coeur d’ Alene Mining District Silver Valley, North Idaho 100% owned by SNS Silver Corp.
2. Agenda History Silver Valley History Crescent Mine Bunker Hill Operations of theCrescent Work by SNS Silver Corporation Proposal Syringa Exploration Inc.
3. Location Map
4. Location Map
5. District History Coeur d’ Alene Mining District: 1885-2009 • 2nd largest silver producing district in world • Over 1 billion ounces produced • Production mainly from narrow, steeply dipping high grade veins • Average annual production grades from silver mines range from 10 to 50 opt • Bunker Hill and other mines produced significant silver at lower grades as by product production
6. Crescent Mine-District Location Crescent is located in the Silver Belt between Bunker Hill and Sunshine Mines Bunker and Sunshine produced nearly half of district silver – 489 million ounces • Sunshine 328 million ounces • Bunker Hill 161 million ounces • Includes 25 million from Crescent
7. Location Long Section
8. Crescent Mine History
9. Crescent History Exploration/Development/Mining • Began in late 1800’s Bunker Hill Company began acquiring Project claims in 1926. Bunker Hill reports production 1917-1981 • 978,750 tons • 25,139,655 ounces silver • Grade of 27 oz Ag / ton
10. Crescent History Cont. Bunker Hill milling records report silver recovery in: • Sulfide ores: • 95% recovery • Oxidized ore: • 80 to 85% recovery
11. Crescent History Cont. Average grade of concentrate produced 250 oz Ag 6% Pb 8% Cu 4% Sb 4.5% As 29% Fe 32% S 0.002% Bi 0% Zn 4% Insoluble
12. Bunker Hill Operations Of Crescent
13. Bunker Hill Operations Crescent Surface adits Internal raises Internal shafts up and down Mined with overhand stoping methods Mill on site built in 30’s
14. Bunker Hill Operations Cont. Yreka Crosscut from Bunker Hill in 1963 Hauled ore UG to Bunker Hill shaft for hoisting Crescent was small part of BH operation Mined @ 150 t/d in 60’s, 70’s & 80’s
15. Bunker Hill Operations Cont. Apparent lack of mineralization in Yreka crosscut discouraged exploration in 60’s and 70’s between Bunker Hill & Crescent Late 70’s White, Juras & Radford developed new stratigaphic model Proposed new exploration targets
16. Bunker Hill Operations Cont. Ore mined from 12 different veins Most production from • Alhambra Fault • East Footwall Vein • Hook Vein • BJ Vein • South Vein – conflicting data In some years production averaged +50 opt
17. Bunker Hill Operations Cont. Mine closed in 1983 At closure mining reserves (resources) were calculated and classified in the proven, probable and possible categories Calculation completed by Don Springer, an independent consulting geologist and a QP as defined in 43-101 regulations
18. Bunker Hill Operations Cont. Combined reserves were stated @: • 395,380 tons • 23.9 oz Ag / ton • 9,395,380 ounces of Ag A 10 year mine life @ 150 t/d Mine life reduced need for immediate exploration using new model
19. SNS Silver Corporation
20. SNS Acquisition Purchase property from Shoshone County, Idaho & the Environmental Protection Agency January 2, 2007 Cash purchase – US $650,000
21. SNS Exploration Drill tested and confirmed stratigraphic model in upper country • Brian White & Dwight Juras Encountered favorable stratigraphy (St. Regis) on HW of Alhambra Fault in upper country South Vein located in St. Regis & Revett rocks
22. Stratigraphic Cross Section
23. SNS Exploration Continued Diamond drilling completed during 2007 and 2008 • 70 surface holes • 30 underground holes • Total of 103,215 feet Completed underground rehabilitation for UG drill platforms Extended Hooper Tunnel 1000’ west
24. SNS Drill Hole Locations
25. SNS Resources Drilling and UG rehab expenditures • $12.1 million cdn. Resources identified • Indicated • 324,000 tons @ 18.7 opt, or 6.1 million ozs Ag • Inferrred • 211,000 tons @ 19.5 opt, or 4.1 million ozs Ag Resources on Alhambra and South Vein
26. SNS Development Costs Development cost per indicated ounce • $1.98 per ounce Development cost per indicated and inferred ounce • $1.18 per ounce
28. Alhambra Resource Grades
29. Alhambra: Indicated & Inferred
30. South Vein Resource Grades
31. South V: Indicated & Inferred
32. Sunshine Mine – Plan Map
33. Larger View
34. Summary Mined and explored for over 100 years 25 million ounces produced Average grade produced 27 opt 10.2 million ozs new resources 9.4 million old ozs under water SNS work confirmed exploration model New targets for continuing exploration
35. Summary Cont. 12 veins known on property • Potential for Sunshine type veins between structures Located between Sunshine & Bunker Hill 5.6 year mine life @ 250 t/d @ 18.7 opt @ $13 Ag, gross Ag value is $230 /ton
36. Syringa Exploration Inc.
37. Syringa Exploration Inc. Letter of Intent to JV with SNS Silver Corp. • Nearing agreement Syringa proposes to earn a 51% interest • Bringing mine to production • Delineating resources Experienced operations and admin management Availability of SNS geologists & staff
38. Management Michael Gross – 20 years in Silver Valley • Managed Lucky Friday • Extensive narrow vein experience • Build effective teams Erik Panke – 22 years with Washington Group • Field accountant to senior business manager with projects up to $1 billion
39. Contract Mining Services Contract United Mine Services and Mine Fabrication & Machine Sister companies & going concerns United Mine Services • Administration is place • Experienced supervisors and miners • Underground mining equipment in inventory
40. Contract Services Mine Fabrication & Machine • Full service fabrication and repair facility • Eliminates need for a complete repair shop at mine • Will receive priority service UMS Management have a large network of mining personnel experienced in narrow vein UG mining.
41. Operations Crescent mine offers near term production • Less than a year Fully permitted • Convert MSHA classification from exploration to operations • Work in progress to resolve water discharge issues left from Sterling Silver • Long term agreement in place
42. Operations Cont. Must re-establish secondary exit • Re-hab Big Creek #4 level to daylight Install new muck handling facilities for new resources Drive access to South Vein Establish stopes Install sandfill system
43. Processing Custom mill ore Two facilities available in Silver Valley • Coeur Mill @ Coeur Mine • Probably lease and self operate • New Jersey Mining Company Mill • Purchase mill capacity Both have permitted tailings facilities Both within easy hauling distance
44. Summary Syringa / UMS Experienced management Resources for 5.6 years @ 250 t/d Resource grade is sufficient UMS has manpower and equipment Administrative system for UMS in place UMS management knows where to source miners
45. Summary Syringa / UMS 5.6 year mine life @ 250 t/d @ 18.7 opt @ $13 Ag, gross Ag value is $230 /ton 9.4 million oz inferred Ag resource below water level Exploration potential for 20 to 30 year mine life
46. Long Section
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