Great Plains Metals Corp. press release
Sienna Exercises Option on Pachin Alto Exploration Property
TSXV - TSX Venture Exchange · Gold · Copper · Molybdenum · Rare Earth Elements · Uranium · Canada
CALGARY, July 6 /CNW/ - Sienna Gold Inc. (SGP TSX Venture Exchange) announces that it has exercised its option on Pachin Alto, one of the eight EMRC exploration properties.
Pachin Alto
The Pachin Alto property comprising 6,000 hectares of land in the Alto Chicama high sulifidation corridor has been mapped, surface sampled and tested with induced polarization geophysics (IP). The property has extensive showings of vuggy silica outcrops with highly altered volcanics from the Calipuy Formation forming argillite and alunite alteration. Thin section analysis confirms that the vuggy silica rocks are highly leached remnants from a high sulfidation system. Similar pathfinder rocks are found at the Pierina and Lagunas Norte as well as other volcanic hosted mines in Peru. To the east of this high sulfidation system, and still within the concession area, a porphyry intrusive within a stockwork tufa zone has been encountered. The geochemical studies done to-date indicate the porphyry is mineralized. The geophysical studies included 9.3 kilometres of IP at both 25 meter and 100 meter dipole centers. Five large, near surface, high chargeability anomalies were identified by the program. The current interpretation of the data suggests the presence of a 20 to 30 meter thick, silicified cap overlying a porous, silica altered rock mass with sulphide mineralization. The geophysical data is available for viewing on the Company website. The next phase of exploration will include closer-spaced IP surveys over the anomalous areas followed by drilling to test the tenor of the sulphide mineralization. The terms of the option agreement include monthly payments to EMRC beginning in year two of the 5 year option period with a right to either drop the option or to pay out the remaining term of the option at any time. In June of 2005 the Company signed an agreement with EMRC Exploraciones SAC granting it an exclusive period of one year to evaluate 7 exploration properties and make a decision to option the properties. An eighth property (Cerro Blanco) was optioned at that time. The evaluation of the properties has been underway since January 2006. The Company is dropping its option on the Cerro Blanco copper property. After review and evaluation the Company decided that it was no of interest at this time.
Sampling Methodology
The samples were taken by first exposing fresh rock in a channel across the trench. Continuous samples were then chipped from the full width of the channel and collected for analysis.
Assaying Methodology
The samples are analyzed by an accredited laboratory in Lima by atomic absorption for silver and a 30 gram fire assay technique for the gold analysis and ICP analysis for 33 other elements. Samples which exceeded the detection limits were re-assayed using a gravimetric fire assay technique. Blank samples are randomly inserted into the sample runs and referee assays are done on randomly selected samples to confirm the laboratory results.
This press release has been reviewed and approved by Murray Lytle, P.Eng. who is the company's Qualified Person.
Sienna Gold Inc. continues to explore in Peru for precious and base metals, its major project is IGOR which continues to hold management's attention and exploration direction.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
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