Southridge Announces Assay Results on Trench #7 for Los Compadres Gold and Silver Mine
May 17 2012 - 8:11AM
Marketwired
Southridge Enterprises Inc. (PINKSHEETS: SRGE) ("Southridge" or the
"Company") is pleased to announce the initial assay results from
Trench #7 at Los Compadres (LC). The Company has been actively
conducting a trenching and sampling program at their Los Compadres
property at Santa Maria del Oro, in Nayarit, Mexico.
Samples assayed from Trench #7 at Los Compadres measured an
average grade of 4.42 g/t Au at surface and were highlighted by
grades measuring 16.23 g/t Au and 224.4 g/t Ag.
Santa Maria del Oro, located in the state of Nayarit, on the
western coast of Mexico, is a well-known historical producing
region for gold and silver. LC is situated inside the Sierra Madre
Occidental belt, the world's largest epithermal gold belt.
"Trench #7 has produced some exceptional sample grades for Los
Compadres, and has defined several geological structures on the
property. With the assays we have from our current trenching and
sampling program, and the detailed information we collected at the
property over the past several months, Southridge has confirmed
that Los Compadres is an exciting gold and silver property that
warrants further exploration and development," says Michael Davies,
President & CEO of Southridge. "The assay results from Los
Compadres, and the recent acquisition of El Horconcito, are
significant recent developments as Southridge moves forward
implementing their strategy to increase the company's footprint
along the Sierra Madre Occidental gold belt."
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) 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.
Contact: Southridge Enterprises Inc. Investor Relations Tel.
(214) 699-6255 Email: info@southridgeminerals.com
http://www.southridgeminerals.com
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