Star Mountain Resources, Inc. (OTC: SMRS) is a micro-cap
mining company currently in the process of re-starting the Balmat zinc mine in
St. Lawrence County, New York. Since its foundation in 2009, SMRS has focused
its efforts on growing through quality purchases, which is why its acquisition
of Balmat is a great step forward.
In 2015, SMRS entered into a three-way definitive agreement
with Northern Zinc and Hudbay Minerals. The company acquired Northern Zinc, the
business that owned the Balmat zinc mine, with the aim of building it back up
into a fully functioning, profitable zinc mine. Since its closure in 2008,
Balmat has been maintained as a fully functioning zinc mine, meaning that it
has full permits and is in compliance with federal and state regulations. Not
only this, Balmat zinc mine is readily accessible and has a fully functioning
mill. Although it is currently on maintenance status, SMRS intends to restart
Balmat in an effort to transition from ‘junior explorer’ status and become an
active producer by the end of 2016.
Aside from the planned upgrades to the ventilation systems
and modifications to the diesel equipment, Balmat mine is in extremely good
condition. As it stands today, the mill is capable of producing high quality
zinc and will be able to start production with minimal investment of time and
money. With this in mind, a report, titled ‘Mineral Reserves at the Balmat
Mine, St. Lawrence County, New York’, was prepared by SMRS in order to make
public the current status of the mine, as well as to give an estimate of the
mineral reserves available. The information in this report is based on findings
from Star Mountain Resources, and it estimates that the project should last at
least 2.5 years, at the end of which the project should see a profitability
index of 1.2 percent.
SMRS has positioned itself strongly within the mining
industry. Within the next year, the company expects to be producing a high
quality concentrate of zinc. This, combined with its focus on responsibility
toward the ecosystem and local communities, as well as its ongoing goal of
reducing chemical and carbon footprints, should give SMRS an unparalleled
mining experience moving forward.
For more information, visit www.starmountainresources.com
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