SCOTTSDALE, Ariz., May 23, 2013 /PRNewswire/ -- Sunergy, Inc.
(the "Company") (OTCQB: SNEY) is pleased to announce that we have
retained Geo Resources (SL) Limited and Alieu Mahdi, Consulting Geologist to oversee all
Field and Administrative operations in Sierra Leone. Mr Mahdi is a senior geologist
in Sierra Leone and as such
commands great respect from his peers and country administrative
agencies. Mr. Mahdi's staff will supervise the exploration and
testing on our Pampana River Project outside Magbruka, leading to
the commissioning of our planned Pilot Plant operations.
Sunergy President Garret Hale
says: "A round of entirely fresh samples, collected under Mahdi's
supervision will assure transparency and accuracy both to our
shareholders and the Minerals Commission in Sierra Leone. Our current mission is to
collect whatever information that has been produced on the Pampana,
by Allied and others historically and start a complete
reconnaissance of the concession to determine where to carry out
additional exploration activities designed to establish resources
and reserves while identifying the most prospective areas to
develop cash flow. Sunergy's ongoing mission to install
professional management at all levels is progressing rapidly."
He further states: "The Pampana River area covered by our 140
sq. km. concession has a strong history of gold exploration and
production. The recent discovery by Allied of the Rare Earth
Elements (REE's) has only increased the potential value of this
project. We wish to share some of this historical information as a
reminder that this is a very large project which contains
substantial economic minerals which are readily recoverable. In
2011, Allied focused on the discovery and development of the REE's
component of this project, in a relatively small area. 2012
was spent reorganizing operational focus and lab testing of the
gold and REE's to further understand the scope of this vast
opportunity. 2013 is now focused on the land based resources as
well as the river resources. This gives us the opportunity to
operate year round rather than being shut down during the rainy
season. There are exposed gold quartz veins and anomalies on
several areas of the concession. Winter operations will be
conducted on land and in pits adjacent to the river and operations
are planned to be continuous."
Sunergy is currently having its operations supervised by Geo
Resources personnel which will result in a report of contained gold
and quantity of Black Sands per operational ton in operational
conditions. All gold will be collected and brought to a
secure location for safekeeping weekly. The remaining black sand
concentrates will be packaged and sealed and stored for further
testing and processing by our planned pilot plant, once
operational. Further exploration on land based operations is also
planned. The report should be available within two weeks or so.
President Hale plans a return visit for a longer period around that
time.
The following information is contained in its entirety on our
website www.sunergygold.com under "projects" in our AMS Concession
Report 2010. If you have not read this information, the following
is an excerpt:
"Verified grades on river bank pits approached 10g/t; however
more typical grades using random sampling were in the 1-2g/t range.
The Company expects future drilling and bulk sampling to also
reveal grades in that with occasional heavy mineralization.
Stripping ratios should fall within 2:1 to 5:1 to one range making
recovery highly cost effective. Heavy mineral sands were
encountered throughout the prospect and in all gravel deposits.
Previous assays on these sand types (REE's) proved them to be a
valuable secondary resource in commercially exploitable grades.
Gold purity averages 90%+. The historical data estimates the
potential value of the prospect to be in excess of $500,000,000 at gold's current value holding
steady at well over $1,000 per
ounce."
In the same report, Alieu Mahdi
of Geo Resources (SL) Ltd. did an analysis of previous work
conducted on the Pampana River in areas within the AMS concession.
He came to the following conclusion: "In determining the possible
volume of auriferous gravels within EXPL 7/94, gravels within the
present Pampana channel are discussed separately from those
developed in the flats and terraces flanking the Pampana river
bank.
River Bank Deposits:
A study of the contours on Topographic Sheets 44 and 55 and the
assumption that the gravels laid by the Pampana would not spread
more than 1,500 metres from edge of the present river channel, have
allowed possible gravel retention sites to be outlined and
measured. The area of these retention sites total 11.7888Km2
(11,788,800sq.metres) The thickness of the gravel is taken as the
average of the gravel thicknesses as in all areas tested by NDMC
(SL) Ltd., in its A2 and A3 development sampling programme. This
approximated to 2.0 metres. The volume is therefore
23,577,600cu.metre (47,155,200cuyds.)
Pampana Channel Deposit:
Total length of river under consideration approximates 24
kilometers, with a mean width of the about 100 metres. The
following assumptions are made in computing a possible volume of
gravels in the channel.
(i) only about 30% of the river is dredgeable.
(ii) Gravel thickness in the channel is 1.5 metres.
Possible gravel volume in channel: 8000 x 100 x 1.5 =
1,200,000cu.metres (1,569,540cu.yds.)
GOLD CONTENT IN THE CONCESSION
(a) In the Pampana Channel:
(i) Assume the grade of 0.811 gm/m3 recovered by 1950 Dredge for a
section of south of the concession holds good for dredgeable
sections, then the gold content is 973,200gms or 31,293oz.
(ii) Assume that depletion due to illicit mining over the years is
set at 30% then the gold content is reduced to 21,905ozs
(b) In the Flanking Flats and Terraces:
Weighted Mean grade = 0.0098oz/yd3
Gravel Volume = 47,155,200yd3
Assume 70% of gravel would be economic, volume is reduced to =
33,008,640yd3
Gold content = 323,485ozs
Depletion of 15% Gold due to previous mining - lawful and
illicit,
Gold content is reduced to = 274,962ozs"
The United Nations Revolving Fund (UNRF) for Natural Resources
Exploration undertook an extensive regional programme of gold
exploration in the Pampana district of the southern Sula Mountains.
The programme was designed to identify the source rocks of the
alluvial gold being mined extensively by artisanal miners. Stream
sediment sampling (1,087 samples), soil sampling (2,474 samples),
topographic surveying, mapping, pitting and trenching were
undertaken. Following verification of stream sediment anomalies,
two areas, namely, Yirisen and Masamank (South Pampana EXPL) were
targeted for detailed soil sampling with a total of 1,477 sample
sites. At Yirisen soil sampling grids were extended 2.5km
north-eastward from the northern limit of known gold
mineralization. Two anomalous gold zones were defined by a 50 parts
per billion (ppb) gold in soil contour. The most southerly anomaly
is comprised of three parallel mineralized trends, the most
easterly of which continues for 700m from the mapped extent of the
Yirisen deposit. Some 1,200m north-east of the known
mineralization, a second 1,500m long by 200m wide gold anomaly
extends along the contact between amphibolite and talc schist
lithologies. A second grid, 400m east of the main Yirisen grid at
Kalmoro, identified a 750m long by 500m wide northeast trending
anomalous gold zone, parallel to the trend of the Yirisen gold
system. The Yirisen project has many hallmarks of a potentially
significant gold deposit.
Please visit the Sunergy website www.sunergygold.com and review
further information such as Company Reports under Projects ,
Previous Press Releases and SEC filing information under Investor
Info. Our Facebook and Twitter sites are quite active, so please
visit our website to access those links.
About Sunergy: The Company is an aggressive junior mining
exploration and development Company that is production oriented at
the earliest possible profitable opportunity. We control 100% of
the 150 SQ. Km. Nyinahin mining concession with a full prospecting
license in Ghana, West Africa and the 140.1 sq. km. Pampana
River Rare Earth, Gold and Diamond concession in Sierra Leone, West
Africa. We are operating exploration dredges on the Pampana
Project and are advancing operations there to the installation of a
commercial pilot plant to separate the gold and selected other
valuable minerals for sale. We are always open to Joint Venture
participation on all our projects. We are production and
acquisitions oriented and are considering several additional
projects suitable for near term production. Regarding
Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, any mineralization, development or
exploration of the Nyinahin and Pampana Mining
Concessions.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Contact:
President: Garrett Hale,
707.255.5836 garrettsvp@gmail.com
Investor Relations: Steve Parent
480.326.5435 steve@sunergygold.com
Sunergy, Inc, 14362 N. Frank Lloyd Wright Blvd Suite 1000,
Scottsdale, AZ 85260 Tel:
480.477.5810
SOURCE Sunergy, Inc.