Saturday, April 20, 2024 | St. Lawrence County, NY
BALMAT -- Star Mountain Resources has filed paperwork with the Securities and Exchange Commission stating that they intend to take upwards of $80 million in zinc from the Balmat mine. Their plan …
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BALMAT -- Star Mountain Resources has filed paperwork with the Securities and Exchange Commission stating that they intend to take upwards of $80 million in zinc from the Balmat mine.
Their plan calls for mining 585,000 tons of 9.2 percent grade zinc ore over an initial 2.5 years of an 8.5-year blueprint.
“The [report] reflects the reserve portion of the mine plan developed by Practical Mining, LLC of Elko, Nevada for the Balmat mine,” according to Star Mountain’s documents filed with the SEC.”
The report covers the first 2.5 years of their plan for the mine and and describes how it might be set up for long-term production from the Mud Pond, Mahler and New Fold orebodies.
The Balmat mine is in a mining district that has been active since the early 1900s, according to Star Mountain.
“Zinc is mined from underground, and the historical workings are quite extensive,” their report to the SEC said.
“The Balmat-Edward district mineralization is characterized by unique and favorable properties, including unusually high zinc grades and low lead content.”
The company’s local subsidiary, St. Lawrence Zinc Company LLC, has surface rights to 1,754 acres in Fowler, 703 acres in Edwards and 242 acres in Pierrepont.
