Great Plains Metals Corp. press release
Sienna Confirms Presence of Mineralized Porphyry Intrusive
TSXV - TSX Venture Exchange · Gold · Copper · Molybdenum · Rare Earth Elements · Uranium · Canada
CALGARY, Aug. 16 /CNW/ - Sienna Gold Inc. (SGP TSX Venture Exchange) announces that it has completed its first phase of exploration on the Igor property and has already commenced the second phase which involves the planning and construction of 12 km of road for rig access. The work completed to-date focused on the Tesoros breccia zone. A total of 17 holes and 1755 meters of drill core was obtained and a summary report is being prepared. In the course of exploring the Tesoros zone, geological mapping indicated the presence of a mineralized porphyry intrusive. This was confirmed by a recent induced polarization geophysical survey (see press release July 26, 2006). The geophysical results caused the Company to change the orientation but not the location of two of its Tesoros holes (7a and 7b) to test both the breccia and potential porphyry structures.
Results
As previously announced, the geophysical anomaly measured 2,500 meters by 500 meters with a chargeability amplitude of 30 mV/V and a resistivity amplitude of 12,000 ohm-meters. Both in size and amplitude, the IP target at Igor compares well with anomalies present at operating copper mines such as San Manuel and Mission in Arizona. The two holes were intended to test the Tesoros breccia and there was no opportunity to change their approved locations. As a result the holes were drilled into the northeastern flank of geophysical anomaly where the measured chargeability averaged 15 mV/V.
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The results of these two drill holes, shown on the table above, confirm the presence of a mineralized porphyry system. The full length of core of both holes was mineralized with anomalous values of copper, zinc and, in places gold and silver. The Company plans to complete a second phase geophysical survey to provide data on lines spaced every 200 meters and to find the limits of the anomaly in areas where there was no closure. Drill locations will be selected based on the surface mapping and sampling and the completed geophysical survey. The Company has signed a cost-sharing agreement with the local municipality for the construction of a 12 kilometre road to the community of Callanquitas from which drill pads will be accessed. The Company has also commenced a detailed trenching and sampling program on the Domo, Callanquitas and Portochuelo areas of the concession. These results will be made available when the trenching and sampling program is complete. Sienna Gold Inc. is exploring in Peru for precious metals and its major project is IGOR which continues to hold management's attention and exploration direction. This press release has been reviewed and approved by Murray Lytle, P.Eng. who is the Company's Qualified Person.
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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