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.
President: Garrett Hale, 707.255.5836 [email protected]
Investor Relations: Steve Parent 480.326.5435 [email protected]
Sunergy, Inc, 14362 N. Frank Lloyd Wright Blvd Suite 1000, Scottsdale, AZ 85260 Tel: 480.477.5810
SOURCE Sunergy, Inc.