SOURCE: Sunergy Inc.
Dec 07, 2010 07:07 ETSunergy Large Scale Rare Earth Element (REEs) Concentrates Valued at Over $3,897/Ton After Free Gold Removal on Its 140 sq. km. Pampana River Licensed Concession in Sierra Leone, West Africa
FREETOWN, SIERRA LEONE--(Marketwire - December 7, 2010) - Sunergy, Inc. (the "Company") (PINKSHEETS: SNEY) reports that in addition to the free gold recovered in alluvial test mining conducted by its subsidiary Allied Mining and Supply, LLC on its 140 sq. km. Pampana River Licensed Concession in Sierra Leone, West Africa, the Rare Earths (REEs) concentrates recovered are valued at over $3,897.00/ton. Diamonds are also a component recovered in the operation as a value added byproduct.
These sands are consistent and verified in the river channel and along the banks and benches. Company geologists estimate 50kg./tonne rich black sands easily recoverable by dredging and land-based mining suggesting the likelihood of highly profitable and immediate alluvial mining operations. Inspection of artisanal mining and prospecting sites within the license area show black sands containing the rare earths (REEs) throughout the claims. Titanium values previously announced are included in the above valuation. The content and values of Rare Earths (REEs) including the residual contained gold and titanium for the five samples of concentrates are averaged as follows:
