First recognition of sulfide zinc mineralization in the
Balmat region of upstate New York was in the early 1800s. In the early 1900s,
production began. Since then, the greater Balmat-Edwards-Pierrepont district
has produced more than 43 million tons of ore. The average grade ranged from
8.5 percent zinc to 16.4 percent. Unfortunately, in the early 2000s, zinc
prices crashed and mining in the area stopped. The mine reopened briefly from
2006 to 2008, when it was placed on care and maintenance status due to a new
fall in the price of zinc and the general economic downturn.
However, Star Mountain Resources (OTC: SMRS), a junior
exploration and mining company whose operations are currently focused on base
metals and precious metal mining acquisitions in North America, is aiming to
recommence mining activities in the Balmat zinc mine. The company is now the
full owner of the mine, which is fully permitted and in compliance with all
federal and state mining regulations.
Historically, the Balmat zinc mine produced up to 30.7
million tons of 8.6 percent grade zinc. Star Mountain Resources, Inc. has put
together an eight and half year plan whereby it will be using modernized
mechanisms to perform underground mining using room, pillar, and long hole
stoping. The mine is said to have a 4,000 tons per day hoisting capacity, with
a mill able to produce 5,000 tons of zinc concentrator per day.
SMRS is currently undertaking the necessary steps toward
restarting the Balmat zinc mine in order to transform the company from a junior
explorer into an active producer. Not only this, the transaction brings SMRS a
high quality mining asset and new professionals to its board of directors and
senior management. The reopening of the mine is expected to boost the economy
of the region and provide new jobs. SMRS expects the mine to be running by the
end of 2016.
For more information, visit www.starmountainresources.com
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