Thursday 27th July 2017

Resource Clips

Sienna President John Rucci on Peru assays of 1.23 g/t gold and 16.9 g/t silver over 41.3m

“The Igor Project goes back as far as the Incas and the Spaniards. We were able to acquire it in 2005. We’ve done numerous samplings, geological mapping and testing, and all 5,000 of our surface samples were greater than an ounce per ton. We’ve defined 200,000 ounces indicated and inferred on the Tesoros, and now we’re exploring in the Callanquitos area, which is the far west part of the property.

“I’m very pleased with these assays, because they’ve identified this structure that seems to run north-south. We haven’t defined it 100%, but it could be as long as 1.4 kilometres and between 200 metres and 300 metres wide. The drilling continues with another two holes that I’m looking forward to.

“We plan to continue drilling. We’re putting Domo and Tesoros into production—a small mine. So that continues, and we have to do some definition drilling on both. We lost the deep rig for about two months but will have it back some time in July or August. Our plan over the next two years is to drill 20,000 metres, both exploration and definition drilling. We are planning to be in production in 2013.

“Peru’s very good to work in. There’s probably over 400 Canadian companies in the country, and all the majors are there. We’re right between Newmont’s Yanacocha and Barrick Gold’s Lagunas Norte mine. Infrastructure is there and mining is very much part of the country’s GDP. So it’s very good to work in.

“Overall, the assessment is very good. I’m excited about what’s going on. I believe we’ve discovered what we’re chasing, and there’s underlying value in the gold mine that we’re putting on production.”

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