Is that all you can say about my favorite junior miner? <gg>
Well, check out these numbers and see if that doesn't help you find your tongue. <VBG>
In all my years, I've never seen such "Bonanza" type numbers like these before today. Twenty bagger! Mark my words!
I can see now that I don't have nearly enough shares...... Neither do you, for that matter. What to sell? What to sell? <LOL>
Sur American Gold Corporation: Bonanza Gold Assays-781.5 g/t and 473.2 g/t Received from Comval Gold Project Monday January 5, 11:38 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 5, 2004--Sur American Gold Corporation (TSX VENTURE:SUR - News) is very pleased to advise that it has received "bonanza" gold values of 781.5 g/t and 473.2 g/t gold from its on-going bulk sampling program at its Comval Gold Project, Mindanao, Philippines. Assaying of the bulk samples (details of which are outlined further in this news release) were initially undertaken at the JBMM Laboratory at Monkayo, Compostela Valley Province (JBMM), using the 30g fire assay technique and re-assayed by IPL Laboratories in Vancouver, Canada (IPL).
Because the original assays indicated exceptionally high values they were re-assayed by the same laboratory with similar results. Following the receipt of the re-assays, check samples were then dispatched by courier to IPL for a further re-assay. IPL employed the same analytical methods as JBMM. The highest IPL assay results outlined above (781.5 g/t gold) was 13% higher than the corresponding JBMM re-assay of 679.5g/t gold whilst the lower IPL assay (473.2 g/t gold) was slightly lower than the corresponding JBMM re-assay of 479.6 g/t.
As previously advised in news releases dated December 9 and 16, 2003 the Company, as a result of a succession of high grade vein gold discoveries (currently numbering 18) in the Batoto/Tarale areas of its Comval Gold project, has recently embarked upon the development of 9 (nine) individual veins with the intent of providing fresh mineralized material for sampling, bulk metallurgical testing and to provide access for cross cuts to test the overall bulk grades between the veins. Reports of the progress of this work will be issued as they come to hand.
The Company is of the opinion that sampling of surficial oxidized and weathered rock may significantly underestimate the overall grade of the mineralization at Comval and accordingly considerable emphasis is being given to sampling fresh as opposed to oxidized mineralized rock-intitially by underground sampling followed by drilling.
The available results of the current program, even though at an early stage, appear to support the Company's views in this regard as the following assays suggest:
Tarale # 7 Vein (now renamed the "Amy" Vein) originally returned 148.3 g/t gold over 0.65 metres at the surface or tunnel entrance but only 5 metres into the fresher rock the gold grades increased dramatically as indicated by two bulk samples weighing approximately 1000 kg and 675 kg respectively taken about 1 metre apart which returned 781.5 g/t and 473 g/t gold respectively. The combined weight of 1675 kg assayed 656 g/t gold. Random samples were taken from each of the 67/40kg bags containing the mineralized material and prepared according to accepted industry standards. Based on previous assaying undertaken by IPL and JBMM the gold particles appear to be extremely small and in fact no significant "nugget" factor has ever been detected from any sample at the Comval project to date. This fact significantly increases the confidence of the sample preparation techniques and the analytical methods used and the results obtained from both Laboratories. Significantly the width of the vein also increased to almost one metre. Tarale # 15 Vein which was originally 1 g/t gold over a thickness of 1 metre at the surface increased to 4 g/t after only 2 metres, 9.33 g/t after 4 metres and now at 5 metres the latest bulk sampling result returned 20 g/t gold from IPL. The original JBMM assay of the last (5m) sample was 20.8 g/t gold Tarale # 8 Vein has only been developed 2 metres and assayed 34.7 g/t gold from IPL. The original JBMM assay was 36.7 g/t gold. The Tarale vein system (currently comprising more than 20 significant individual veins) outcrops on the SE flank of Batoto Hill and appears to continue towards the recently discovered Maglente area which is located 500-700 metres to the west. Because of an extensive veneer of soil it has not been possible to determine the actual strike nor dip extent of the Tarale vein system which at this time occurs over a width of more than 200 metres.
The intervening ground between the veins is often intensely silicified with quartz stockworks similar to Batoto. In order to outline the actual dimensions of the Tarale zone a combination of drilling and underground development will be required. This program will commence following the evaluation of results of a geophysical survey scheduled to be undertaken during January-February, 2004.
The Company is extremely encouraged by the progress of the on-going exploration program at the Comval Project and the new results. Combined with sampling results pending from the other veins also under development, new discoveries yet to be sampled and strong indications of bulk mineability already indicated over a large area of Batoto and Tarale (which may connect) the likelihood of further exploration success is apparent.
Exploration only commenced on the property in late May, 2003 and has consisted of extensive trenching, mapping, sampling and assaying of more than 60 individual vein systems and in the case of the Batoto gold porphyry deposit in the southern sector of the project area, long intervals of gold mineralization occurring in quartz microveinlets between the major veins.
All sampling is personally undertaken by experienced technical personnel who each have more than 15 years experience in correct sampling practices. Sampling practices are personally approved by Mr Rennie Blair Msc, FAusIMM, the President of Sur American Gold Corporation who is a qualified person as defined by National Policy 43-101. Assaying is initially undertaken at the JBMM Laboratory at Monkayo, Compostela Valley Province and check samples are then sent to IPL Laboratories in Vancouver, Canada, a 9002 ISO Certified Laboratory.
Sur American Gold Corporation trades on the TSX Venture Exchange (Canada) under the symbol "SUR".
On behalf of the Board of Directors J. Rennie Blair, MSC., F.Aus.IMM, President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this News Release.
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