SCOTTSDALE, Ariz., Aug. 27, 2012 /PRNewswire/ -- Sunergy, Inc. (the "Company") (OTCQB:SNEY) During the currency of our LOI with Tantalus Resources, two samples from The Pampana River Sands, one from our existing Stockpile and another direct from the banks of the Pampana river where we work were collected by Tantalus and Sunergy personnel and provided to Hazen Research, Inc. of Golden, Colo. This Preliminary Report can be reviewed in its entirety on our website. www.sunergygold.com .
Hazen states, "This report presents the results of chemical analyses, mineralogical characterization, and preliminary beneficiation tests of heavy mineral sands from Sierra Leone that were conducted by Hazen Research, Inc... and the objective of the study was to determine the general mineralogical composition of the sands with emphasis on the occurrence of the niobium–tantalum and particularly the precious metals."
Hazen starts its Conclusions and Recommendations section with the following: "Based on the results of this preliminary investigation, the Stockpile sand contains appreciable gold which is easily recoverable by magnetic and gravity separation"... In The Mineralogical Examination Section Hazen states: "To provide evidence of the occurrence of randomly distributed free placer gold, a 100 g grab sample of the blended Stockpile sample was separated using a high-intensity rare earth hand magnet to separate the paramagnetic ilmenite from the nonmagnetic constituents, including the gold. Both magnetic products were assayed for gold and PGMs. The results show that about 99% of the gold is in the nonmagnetic product which assayed 14.4 g/t Au and represents about 28% of the total weight of the sample."
Advisory Board member, David J. Salari, PEng says; "Both samples (stockpile and black sands) indicate a high ilmenite number. Calculated Head Au grade of 5.4 g/ton in the stockpile looks very good and definitely dictates further work in this area. Indication of coarse gold particles in the stockpile as well as a Au gold recovery (84.9 %) in the non-magnetics plus 603 g/T grade would be my first area to develop. They indicate further upgrading of the table concentrates. I believe a Au smeltable product could be attained with another cleaning stage and also a simple pilot plant could be installed to commercially show us and generate some cash flow. A parallel circuit to recover and produce the ilmenite could be done at the same time. The other elements could be further developed 'down the road' but from this work, it definitely shows that money could be made now."
President Bigler comments: "I am very pleased and thankful to get this good news so early in my tenure with Sunergy. We appreciate the good work already done by Sunergy, Tantalus and Hazen in this preliminary report. I also have tremendous confidence in David Salari's expertise and his considered opinion. We have worked together successfully in the past and he comes to us at a time when we all can benefit from his expertise. We await further information from Hazen on the recommended equipment for the proposed Pilot Plant facility that we plan to set up in Sierra Leone. We already own some gravity recovery and finishing equipment that should contribute to future cost savings on the balance of equipment required to start our planned cash flow and resource/reserve development in Sierra Leone this year."
More news will be forthcoming shortly.
Please visit the Sunergy website www.sunergygold.com and review further information such as the full Hazen Report, Company Reports under Projects, Previous Press Releases and SEC filing information under Investor Info.
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 planning to install a pilot plant designed to recover gold and titanium (ilmenite) on the Pampana Project to start cash flow this year and are open for Joint Venture participation in the development of all of our projects. We are production and acquisitions oriented and are considering several additional projects in West Africa.
Notice 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.
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SOURCE Sunergy, Inc.