Gist of Articles Published in Mining Magazine August 2008, Vol.199, No.

2
Mining Magazine is published monthly by Mining Communications ltd., Albert
House, 1, Singer street, London EC 2 A C, 8 Q, UK. The magazine mainly deals in
articles on mining methods and mining machinery. However, in present issue two articles
namely i) Mine of the Month; US Silver, Galena; ii) Market Place: Gold; uncertain
bullion price are of interest. Gist of these articles is given below:
Mines of the Month : US Silver Canada
Idahos Silver Valley covers the silver giving territory in Coeur d Alene region of
northern Idaho USA, which has a long mining history dating back to 1880s. The area is
one of the worlds top silver mining districts and produced 1 billion ounces in the late
1990s.
There are currently three operating mines in the silver valley: The lucky Friday,
operated by Hecla Mining, the Sunshine, run by Sterling Mining, and the Galena mine,
worked by US Silver. Other advanced projects are the Crescent mine which is being
redeveloped by SNS silver Corp., while Azteca Gold Corp has an option to purchase the
former Bunker Hill mine in Kellogg.
There have been about 100 mines in the silver valley in its 100 years of history
most of Mines closed down but due to increase in the prices of silver US $ 15 20/
ounce in 2008 there is insurgence of a new life in mining activity.
US Silver Galena :- Modern mining commenced in 1953 under the management of
Asarco. Since then the production has primarily been silver-copper ore with minor
production of silver-lead ores. The total production since 1953 has exceeded 160 moz of
silver, 116 MLbs of copper and MLbs of lead from 7 million short ton of ore. The
average grade of the silver copper ore was 22.9 oz of silver per short ton and 0.83%
copper. The average grade of the silver-lead ore was 8.2 oz silver and 8.8% lead per
short ton of ore.

Azteca Bunker Hill : The Bunker Hill mine closed in 1981 and has historic reserves of
8.9 million short tons, grading 2.5% lead, 1.58 oz per short ton of silver and 5.07% zinc,
as calculated by Cominco Engineering Services in a 1989 report.
Azteca Gold corp. has an opinion to purchase the former Bunker Hill mine owned
by New Bunker Hill Mining Co.
Hecla Lucky Friday : Its a 65 year old mine, Hecla is operating this mine for 50
years. Over the last 65 years, nearly 138 Moz of silver have been mined, with 3.1 Moz
productions in 2007 at an average ore grade of 10.27 of silver per short ton.
Deep drilling has encountered ore-grade to the 8000 ft. level which is 2000ft
below current mining areas.
Sterling Mining Sunshine :- Sterling acquired the right to operate the Sunshine mine,
together with the mine-mill infrastructure, in June 2003. It is targeting production of 400
t/d, yielding 2.8 Moz/y silver.
SNS Silver Crescent :- SNS bought the Crescent mine in Dec. 2006 from Shoshone
County, Idaho government and the US Environmental production Agency. The Crescent
mine was first operated in 1890 until 1921 and then from1927 43 producing a total of
25 Moz of silver before closing in 1981.
Uncertain bullion :The xerox of various graphs depicting prices of Aluminium, Copper, Gold,
Nickel, Platinum and Zinc is enclosed for perusal pl.

MINERAL ECONOMICS DIVISION

Market-Survey Unit
As per the instructions issued by CME, the gist of articles published in Mining
Magazine August, 2008 have been prepared. The same are enclosed for your perusal pl.

(M.U. Siddiqui)
Dy. Mineral Economist (Int.)
The Chief Mineral Economist, IBM, Nagpur.
U.O. No. 214(33)/MKT-SUR/ME(!)/2008.

Nagpur. Dated/ 1.10.08

MINERAL ECONOMICS DIVISION

Market-Survey Unit
As per the instructions issued by CME, the gist of articles published in Mining
Magazine August, 2008 have been prepared. The same are enclosed for your perusal pl.

(M.U. Siddiqui)
Dy. Mineral Economist (Int.)
The Chief Mineral Economist, IBM, Nagpur.
U.O. No. 214(33)/MKT-SUR/ME(!)/2008.

Nagpur. Dated/ 1.10.08