DALLAS, Feb. 21, 2012 /PRNewswire/ -- Southridge
Enterprises Inc. (Pinksheets: SRGE.PK) ("Southridge" or the
"Company") announced that it will conduct additional rock sampling
of the ore stockpiles at Cinco Minas to confirm the grades and
tonnage cited in the 2007 Behre Dolbear Report, as part of the
recently announced exploration program.
Behre Dolbear is an internationally recognized and respected
mining consultancy firm with offices around the globe. Behre
Dolbear was commissioned in 2007 to perform a review of the Cinco
Minas property, previous exploration activities and existing
stockpiles & waste dumps located on surface. The review was
published in a report by Behre Dolbear and outlined a series of
observations and recommendations regarding exploration, short-term
production and further expansion at the mine.
The report concluded that while further sampling is required to
attain an accurate estimation of both the grade and volume of
material at Cinco Minas, Behre Dolbear stated that the short-term
feed for the 60 tons per day (tpd) processing plant could be
supplied by the existing stockpiles and wastedumps.
Furthermore, the report cites that an estimated 35,000 tons of ore
is available, which accounts for nearly 2 years of production.
Southridge Mineral's geologist Juan
Eduardo Lopez Romero, who is directing the Company's
recently announced exploration program, will oversee the rock
sampling and measurement of existing stockpiles and waste
dumps.
"This is an important step for Southridge, as the Behre Dolbear
report provides the ground work for a production and exploration
plan at Cinco Minas for both the short and mid-term," stated
Southridge President Michael Davies.
The Company plans to follow the recommendations of the report and
begin the rock sampling program of the ore stock piles. The
sampling activities are a key component of the Mill Production Plan
and initial production operations that will utilize the reactivated
60 tpd mill and the 2 year supply of ore stock piles on site.
The rock-sampling program will allow the Company to confirm the
estimate of the stockpiled ore's gold and silver grade and rely on
the measurement and density calculations that are vital for precise
estimate of the overall tonnage. These two factors will provide for
the forecasting of potential revenues for the first two years of
production at Cinco Minas.
Additionally, Mathers Research has initiated research coverage
of Southridge, with a 'Speculative BUY" Opinion and a near term
price target of $0.20 cents per
share.
The Mathers Research report is available as a free download on
the Mathers Research Website @
http://mathersresearch.com/srge-report
For further information on the Company's Gold and Silver
projects, visit our website, http://www.southridgeminerals.com
Southridge Investors can access the following Southridge
Minerals social media channels:
YouTube Cinco Minas Mexico Project:
(http://youtu.be/R6P8oght4Ik)
(http://youtu.be/o2LfLaSu8ww)
Facebook:
(http://www.facebook.com/pages/Southridge-Minerals-Inc/163457600376466)
Twitter: (http://twitter.com/SouthridgeSRGE)
About Southridge Minerals, Inc. (Pinksheets: SRGE.PK - News)
Southridge Minerals, Inc. is a U.S.-based mineral exploration
company dedicated to acquiring and developing mineral resources in
geologically permissible and politically stable areas of the world.
The Company seeks out early stage opportunities with good
mineralization indicators that exhibit significant blue-sky
potential. Southridge pursues and advances these projects that are
or will be of interest to mid-size and major producers. By forming
alliances on individual projects, the Company expects to develop
its interests in mines operated by its partners, allowing it to
continue to build value through continued exploration. Southridge
is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in
Mexico and the knowledge of the
geological conditions and formations pertaining to known large gold
deposits that have received very little attention to date. This
comparative advantage, combined with a specific geographical and
mineral focus, will allow for more efficient asset and income
growth in the future for the benefit of shareholders'
investments.
Forward-Looking Statements
Although the Company believes that the forward-looking statement of
beliefs, plans, expectations, and intentions contained in this
press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's published current and periodic reports.
SOURCE Southridge Minerals, Inc.