Sienna Gold's Excellent Drilling Results Continue in Peru
July 23 2012 - 9:00AM
Marketwired Canada
Sienna Gold Inc. ("Sienna" or the "Company") (TSX VENTURE:SGP) (LMA:SGP) is
pleased to announce the latest results from new drill holes at Callanquitas, on
the Igor project, La Libertad, Peru. The five holes totalled 1266.3 meters (m).
Drill Results
These come from Holes CA-12-43 to CA-12-47, which were drilled on three
different sections. All holes, with the exception of CA-12-44, cut several
mineralized structures.
Drill hole CA-12-45 gave excellent results: 19.6 m at 4.5 grams/tonne (g/t) gold
and 17.3 g/t silver. Likewise CA-12-43, with 4.4 m at 6.2 g/t gold. Furthermore,
CA-12-46 gave 4.45 m at 6.1 g/t gold and 87 g/t silver.
High silver grades are present in other holes. CA-12-47 gave 56.1 m at 154.3 g/t
silver and 0.6 g/t gold.
Full results are given in the table below. A map of hole locations is shown
below, as is Section NW4690. Further maps and cross sections are available on
the Sienna Gold website.
To view the map associated with this release, please see the following link:
http://media3.marketwire.com/docs/720sgp_map.pdf
The Callanquitas Structure
Dr. Warren Pratt, Director of Sienna Gold Inc, comments, "Drilling is proceeding
very well. These holes were mostly 'infill' or aimed to extend the
mineralization vertically. The Callanquitas Structure is everywhere cut more or
less where predicted and grades are consistent. The drilling is targeted very
carefully, on 50 m centres, so that every intersection counts in a final
resource calculation. Modifications now mean that we can drill horizontally,
allowing us to better define the top 75 m or 100 m below the surface. Since high
grades occur in surface trenches (up to 61.4 g/t gold), we expect this shallow
part of the Callanquitas Structure to contribute considerably to the final
resource.
The good drilling progress should allow us to bring forward the new resource
calculation for Callanquitas to late October 2012 (final NI 43-101 report to
follow in late 2012)."
Assay results for drill holes CA-12-43 to CA-12-47.
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Drill Hole From To Interval(2) Weighted Averages(1)
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(m) (m) (m) Gold (g/t) Ag (g/t)
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----------------------------------------------------------------------------
CA-12-43 123.00 128.90 5.90 0.4 1.1
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CA-12-43 135.50 149.40 13.90 2.1 5.4
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including 145.00 149.40 4.40 6.2 10.4
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CA-12-43 154.20 159.00 4.80 0.4 2.4
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including 158.50 159.00 0.50 2.8 10.3
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----------------------------------------------------------------------------
CA-12-44 336.70 383.10 46.40 (3) 0.7 45.1
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including 344.70 349.30 4.60 0.9 103.0
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including 363.50 370.70 7.20 2.5 107.8
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----------------------------------------------------------------------------
CA-12-45 23.00 38.00 15.00 0.4 2.0
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CA-12-45 63.00 72.00 9.00 0.3 10.6
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CA-12-45 108.00 156.70 48.70 1.9 8.4
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including 134.80 154.40 19.60 4.5 17.3
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including 139.10 148.50 9.40 7.3 28.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
CA-12-46 11.00 56.70 45.70 0.3 1.2
----------------------------------------------------------------------------
CA-12-46 74.80 112.30 37.50 1.0 25.4
----------------------------------------------------------------------------
including 98.70 103.15 4.45 6.1 87.4
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----------------------------------------------------------------------------
CA-12-47 12.50 18.00 5.50 1.8 18.7
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CA-12-47 35.20 53.30 18.10 0.2 2.6
----------------------------------------------------------------------------
CA-12-47 120.00 139.00 19.00 0.1 48.0
----------------------------------------------------------------------------
including 120.00 133.50 13.50 0.1 60.2
----------------------------------------------------------------------------
including 129.00 130.40 1.40 0.2 310.0
----------------------------------------------------------------------------
CA-12-47 148.20 272.50 124.30 0.6 84.6
----------------------------------------------------------------------------
including 162.00 218.10 56.10 (4) 0.6 154.3
----------------------------------------------------------------------------
including 243.30 249.60 6.30 1.0 211.9
----------------------------------------------------------------------------
including 262.00 269.00 7.00 2.7 26.3
----------------------------------------------------------------------------
(1) It should be noted that these are all angled holes and downhole intervals do
not necessarily reflect the true width of the mineralized structure.
(2) Weighted averages were calculated for continuously mineralized intervals
using a bottom cut on 0.1 - 0.2 g/t gold, no top cut and minimum internal waste.
(3) This interval contains a 6.0 m zone of no recovery.
(4) This interval contains a 6.3 m zone of no recovery.
A full list of drill holes and significant intercepts is available on the
website: www.siennagold.com.
Exploration Update
Two rigs continue on site: one large tracked rig and a man portable rig. A total
of 13,500 m has been drilled to date.
The new resource for the Callanquitas Structure, based on approximately 20,000 m
of drilling, should be published in mid- to late October with the full NI 43-101
report to follow before the end of the year.
Drilling will, however, continue at Callanquitas and extend to Domo and Tesoros
in late 2012/early 2013.
Sampling Methodology
Cores taken from the diamond drill rig are stored in plastic core boxes and
transported to the camp for detailed geotechnical and geological logging.
Density and Point Load testing are carried out. Afterwards, the core is cut on
site with a diamond saw. One half is then sent to an accredited laboratory in
various sample lengths. Randy Henkle (PGeol), the Company's independent
Qualified Person, completed a chain of custody review to ensure the integrity of
all sample data.
Assaying Methodology
The samples are analysed by SGS Laboratories in Lima by inductively coupled
plasma atomic emission spectroscopy for silver and 37 other elements (included
Hg and Te) and a 30 gram fire assay technique for gold. Samples above detection
limits are re-assayed using a gravimetric fire assay. The specific lab
procedures can be found in the Company's 43-101 report on the Igor property.
This press release was reviewed and approved by Dr. Warren Pratt (CGeol) who is
a "Qualified Person" according to National Instrument 43-101.
Sienna Gold Inc. is a gold exploration company with property interests in Peru.
Its key prospect is the Igor Mine Project, a formerly producing mine that the
Corporation is exploring further.
If you wish any further information, please feel free to contact John Rucci at
any of the contact points noted above.
John M. Rucci, President
WARNING: the Company relies upon litigation protection for "forward looking"
statements. The information in this release may contain forward-looking
information under applicable securities laws. This forward-looking information
is subject to known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those implied by the
forward-looking information. Factors that may cause actual results to vary
materially include, but are not limited to, inaccurate assumptions concerning
the exploration for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or
regulations, the risks of obtaining necessary licenses and permits, changes in
general economic conditions or conditions in the financial markets and the
inability to raise additional financing. Readers are cautioned not to place
undue reliance on this forward-looking information. The Company does not assume
the obligation to revise or update this forward-looking information after the
date of this release or to revise such information to reflect the occurrence of
future unanticipated events, except as may be required under applicable
securities laws.
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