production & exploration
Galena Mine - Coeur d'Alene Mining District - 48 million oz
U.S. Silver Corporation, Wallace Idaho. Toronto, Ontario., TSX.V : USA, owns and operates the Galena Mine in the historic Silver Valley of North Idaho, in the heart of the Coeur d'Alene Mining District
Total silver reserves and resources are more than 48 million ounces.
The Galena Mine and Mill, along with the Coeur Mine and Mill and the Caladay Project were acquired from Coeur d'Alene Mines Corp (NYSE-CDE) on June 1, 2006.
2009 Production: 2.9 million ounces of silver, 6.8 million pounds of lead and 1.6 million pounds of copper.
A total of 11,000 acres of patented and unpatented mining claims, along with surface facilities and equipment were acquired for $15 million.
Silver production in 2009 to mid-February has totaled 311,139 ounces, compared to 152,726 ounces for the same period of 2008, an increase of 104%.
The mine has also produced 791,657 pounds of lead and 127,985 pounds of copper to mid-February; increases of 113% and 40%, respectively, compared to the same period in 2008. In addition, during this period, the mine averaged 769 tons per day an increase of 32% compared to the comparable period in 2008.
Management has completed a mine plan for 2009 and, based on that plan, forecasts 2009 production will be 2.9 million ounces of silver, 6.8 million pounds of lead and 1.6 million pounds of copper.
The Galena Mine lies in the heart of the Coeur d'Alene Mining District, the most prolific silver district in United States history with over 1.2 billion ounces of silver production.
Throughout the long history of the Company's properties, the mines have produced some 9.9 million tons of ore containing over 200 million ounces of silver, 160 million pounds of copper, and 22 million pounds of lead at an average grade of 21.2 ounces per ton of silver, 0.8% copper and 8.8% lead.
The Galena Mine ranks as the second largest primary silver mine in US history.
Since the initial acquisition, US Silver has added over 7,000 acres of unpatented claims throughout the district, and has also acquired the historic Dayrock Mine and Mill.
The Company now controls over 18,000 acres in an area over 11 miles long by over 4 miles wide. The Coeur d'Alene District assets of the Company now include four operating shafts, two operating flotation mills, one non-operating mill, and extensive surface and underground mining equipment.
The Galena Mine, with a current workforce over 100, is currently producing some 400 tons per day of silver-copper ore, which is being processed in the Galena Mill, with the resulting concentrate being sold to the Xstrata Smelter in Quebec.
The Company plans to increase output of silver-copper ore to the Galena Mill to over 700 tons per day in 2009.
The #3 circuit in the Galena Mill was activated on November 6, 2008 and has been operational since that time. This gives the Galena Mill a capacity of 900 tons per day.
In September of 2007, the Company completed a retrofit of the Coeur Mill to produce a silver-lead concentrate. Presently some 250 tons per day of high grade silver-lead ore is being sent from the Galena Mine via underground haulage to the Coeur Mill for processing. The resulting concentrate is then shipped to British Columbia for sale to the TeckCominco Smelter.
Since taking over the property in 2006, the Company has commenced an agressive underground exploration drilling program to expand reserves and resources and better exploit the tremendous potential of the property.
Some 40,000 feet of underground diamond drilling were completed in the last seven months of 2006, and another 75,000 feet were undertaken in 2007. Results to date have substantially increased the reserves and resources, and yielded several new important discoveries.