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Posts tagged ‘Sienna Gold Inc (SGP)’

Sienna reports Peru Results of 1.2 g/t Gold, 16.9 g/t Silver over 41.3m

May 4th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced assays from the Callanquitas Structure of its Igor Project in Peru. Highlights include

1.2 g/t gold and 16.9 g/t silver over 41.3 metres
(including 3.9 g/t gold and 45.5 g/t silver over 11.3 metres)
2.7 g/t gold and 76.7 g/t silver over 15.3 metres
(including 12.3 g/t gold and 530 g/t silver over 1.8 metres)
0.6 g/t gold and 17.6 g/t silver over 43.5 metres
(including 2.9 g/t gold and 161.3 g/t silver over 3.3 metres)
1 g/t gold and 21 g/t silver over 24 metres
(including 6.3 g/t gold and 292.9 g/t silver over 1.6 metres)
2.1 g/t gold and 12.5 g/t silver over 12.3 metres
(including 5 g/t gold and 26.3 g/t silver over 4.7 metres)
1.8 g/t gold and 1.1 g/t silver over 2 metres

Director/Consulting Geologist Warren Pratt stated, “Once again we are very pleased with these results. Every drill hole hits the structure where predicted and gold and silver mineralization is present consistently. Results from Section NW4200 are particularly interesting. It lies a full 350 to 400 metres south of the high-grade zone mentioned in previous releases. The results indicate that mineralization is open to the south, where there is very little drilling. They again show vertical continuity of over 300 metres. Hole CA-12-33 is the deepest intercept to date, cutting the structure at 2,970 metres. Mineralization is again open at depth.”

View Company Profile

Contact:
John Rucci
President
403.508.2061

Read a feature story on Sienna Gold.

by Greg Klein

Top Of The World

March 27th, 2012

Sienna Finds High Silver and Gold Grades in Peru’s Andes

By Ted Niles

A year ago, Sienna Gold TSXV:SGP was focused on the Domo and Tesoros areas of its Igor project in Peru. Its objective was to turn them into a small but economic near-term mine. But an eight-hole drill campaign on the nearby Callanquitas structure, completed May 2011, led to a 15,000-metre campaign, which might very well transform the company’s prospects. “I’m very excited, and I think the future’s very bright for Sienna,” says President John Rucci.

“We had started a prefeasibility-type study for the small mine at Domo and Tesoros,” President John Rucci explains, “and part of the drilling there was to close in the ounces that we have in the resource. That’s moving forward, but now in light of what’s coming out of Callanquitas, the design would have to be much different than what we’d planned. If in fact it provides what we need, we’ll start investigating opportunities to put the whole thing in production—Callanquitas, Domo and Tesoros.”

Sienna Finds High Silver and Gold Grades in Peru's Andes

Sienna acquired the Igor project in 2005 along with 11 other projects since abandoned. Located in the Western Cordillera of the Andes in northern Peru’s Department of La Libertad, Igor comprises roughly 1,300 hectares and counts numerous producing mines among its neighbours, including Newmont’s TSX:NMC Minera Yanacocha—the world’s second largest gold producer, located 77 kilometres north of Igor—Barrick’s TSX:ABX Lagunas Norte mine and Rio Alto’s TSX:RIO La Arena mine, both to the southeast. In the months preceding the 2008 market crash, Sienna released an NI 43-101 mineral resource estimate for Igor’s Domo and Tesoros areas of 97,000 ounces gold and 2.98 million ounces silver in the indicated category, 49,100 ounces gold and 2.27 million ounces silver inferred.

Exploratory drilling that was done at Callanquitas was followed up only in 2010, but the structure now has the company’s full attention. “Callanquitas is to the northwest [of Domo and Tesoros] and looks very rich,” Rucci relates. “It extends probably over a one-kilometre length, is open at depth and at strike and is open to the north and south. We feel we have a major discovery here, with bonanza-type grades of silver, and even the gold values are very high as well.”

March 22 Callanquitas assays include

  • 1.32 grams per tonne gold and 141.2 g/t silver over 48.7 metres
  • 1.35 g/t gold and 3.1 g/t silver over 18.3 metres
  • 0.9 g/t gold and 19.4 g/t silver over 25.5 metres
    (including 4.48 g/t gold and 48.6 g/t silver over 2.8 metres)
  • 0.79 g/t gold and 24 g/t silver over 27.9 metres
    (including 2.33 g/t gold and 37.5 g/t silver over 4.2 metres)

February 28 results include

  • 2.16 g/t gold and 122.9 g/t silver over 7.3 metres
  • 2.28 g/t gold and 1,024.6 g/t silver over 55.5 metres
    (including 5.58 g/t gold and 5,465 g/t silver over 1.2 metres)
  • 50.7 g/t silver over 15.2 metres
  • 56.2 g/t silver over 15.7 metres
  • 1.7 g/t gold and 110.1 g/t silver over 74.5 metres
    (including 4.67 g/t gold and 403 g/t silver over 17.6 metres)

“These are huge grades,” Rucci declares. “These are phenomenal values. The company is targeting a million ounces of resource after this drilling program, and I think we’re going to achieve it.” The drill campaign is ongoing with two rigs turning. “We’re drilling infill holes and some step-out holes. So we’re going to close it in, get it down to a 50-metre grid if we can, for better resource definition. We’ve got another 5,000 metres to drill on Callanquitas, and we’ve got another 3,000 metres to drill up in the Domo and Tesoros areas.”

These are phenomenal values. The company is targeting a million ounces of resource after this drilling program, and I think we’re going to achieve it —John Rucci

The company expects to have a new resource estimate for the Igor project—”albeit in the inferred category”—by 3Q 2012. Sienna had targeted the Domo and Tesoros areas for production by late 2013, early 2014. However, should Callanquitas’ contribution to the resource prove as positive as hoped, Rucci says, “You’re talking a much bigger development.”

Infrastructure continues to improve in spite of challenging terrain, with access to water and power, as well as the construction of 13 kilometres of new roads since 2010. The company is sufficiently funded to see it through the current drill program, with approximately $3 million in the treasury. “We are looking at raising funds possibly in September,” Rucci adds. “However, if this news continues, and the stock rises to about $0.60, we do have warrants that will bring in about $11 million.”

He concludes, “I’m very happy with the project. We’ve had about five different drill programs on it. We have a resource on the property, and if we found nothing else, we’d still generate about $1 million net a month for the company with these prices. Now we have this huge find, and the question is, how big is it? I think it could be very large.”

At press time, Sienna had 100.4 million shares trading at $0.385 for a market cap of $38.6 million.

Sienna reports Peru Results up to 1.32 g/t Gold, 141.2 g/t Silver over 48.7m

March 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced results from the Callanquitas Structure of its Igor Project in La Libertad, Peru. Highlights include

1.32 g/t gold and 141.2 g/t silver over 48.7 metres
(including 3.08 g/t gold and 251.1 g/t silver over 17.6 metres)
1.35 g/t gold and 3.1 g/t silver over 18.3 metres
(including 2.34 g/t gold and 3.5 g/t silver over 8.3 metres)
0.9 g/t gold and 19.4 g/t silver over 25.5 metres
(including 4.48 g/t gold and 48.6 g/t silver over 2.8 metres)
0.79 g/t gold and 24 g/t silver over 27.9 metres
(including 2.33 g/t gold and 37.5 g/t silver over 4.2 metres)
0.7 g/t gold and 4.1 g/t silver over 28.5 metres
(including 8.3 g/t gold and 15.3 g/t silver over 0.7 metres)
1.29 g/t gold and 21 g/t silver over 10.4 metres
(including 3.01 g/t gold and 46.5 g/t silver over 3.5 metres)

Director Warren Pratt remarked, “These new results are very significant. Firstly, they keep demonstrating the continuity of the Callanquitas Structure over at least 900 metres of strike length. Secondly, hole CA 12 27 now establishes the presence of a major high-grade zone, with many multi-kilogram silver grades, in the centre of the structure. This zone has now been cut to more than 400 metres depth at 50-metre vertical intervals. Step-out drilling to the north and south has the potential to expand this high-grade zone. We will also focus on other potential high-grade zones within the structure.”

View Company Profile

Contact:
John M. Rucci
President
403.508.2061

by Greg Klein

Sienna President John Rucci on Peru assays of 2.16 g/t gold and 122.9 g/t silver over 7.3m

March 1st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced assays from the Callanquitas structure of its Igor project in the La Libertad region, Peru. Results include

1.33 g/t gold over 8.1 metres
(including 6.5 g/t gold over 1.5 metres)
2.16 g/t gold and 122.9 g/t silver over 7.3 metres
(including 4.22 g/t gold and 241.4 g/t silver over 3.5 metres)
2.28 g/t gold and 1,024.6 g/t silver over 55.5 metres
(including 5.58 g/t gold and 5,465 g/t silver over 1.2 metres)
50.7 g/t silver over 15.2 metres
56.2 g/t silver over 15.7 metres
1.87 g/t gold and 29.8 g/t silver over 13.5 metres
(including 3.41 g/t gold and 51.4 g/t silver over 6 metres)
1.7 g/t gold and 110.1 g/t silver over 74.5 metres
(including 4.67 g/t gold and 403 g/t silver over 17.6 metres)

President John Rucci tells ResourceClips.com, “We acquired Igor in 2005 along with 11 other projects. We dropped all of them but Igor. We’ve expanded Igor since then, adding another 300 hectares immediately adjacent to it on the southeast corner. It has been mined all the way from the Incas through the Spaniards to today. So it’s a very rich mountain. We have three targets that we’re chasing; we’ve identified two, which have a 43-101 resource of approximately 200,000 gold-equivalent ounces in the inferred category. Now our major discovery, Callanquitas, is to the northwest and looks very rich. It extends probably over a one-kilometre length, is open at depth and at strike, and is open to the north and south. We feel we have a major discovery here, with bonanza-type grades of silver, and even the gold values are very high as well.

These are huge grades. The company is targetting a million ounces of resource after this drilling program, and I think we’re going to achieve it—John Rucci

“In 2010 and 2011, we started out with a five-hole drill program. We found some very interesting stuff, and we were able to add another three holes to that which returned big grades again. That gave us the information which started the drilling program this year. We’re drilling infill holes and some step-out holes. So we’re going to close it in, get it down to a 50-metre grid, if we can, for better resource definition. We’ve got another 5,000 metres to drill on Callanquitas, and we’ve got another 3,000 metres to drill up in the Domo and Tesoros areas.

“These are huge grades,” Rucci exclaims. “These are phenomenal values. The company is targeting a million ounces of resource after this drilling program, and I think we’re going to achieve it. We are planning to have a 43-101-compliant resource—albeit in the inferred category—by the end of this year.”

He continues, “We had started a prefeasibility-type study for the small mine at Domo and Tesoros, and part of the drilling there was to close in the ounces that we have in the resource in that area. So that’s moving forward, but now in light of what’s coming out of Callanquitas, the design would have to be much different than what we’d planned. If in fact it provides what we need, we’ll start investigating opportunities to put the whole thing in production—Callanquitas, Domo and Tesoros.”

Rucci notes that the company was aiming to bring the Domo and Tesoros areas into production by late 2013, early 2014. However, if Sienna decides to include Callanquitas, “You’re talking a much bigger development.”

“The infrastructure is excellent in Peru,” he reports. “We have a lot of local workers up there, and equipment is readily available. Our manager of exploration is an expat, but the remainder are all Peruvians—Senior Geologist, field geologists. A good professional staff. We’ve got roads; we’ve got power; we’ve got water.”

Regarding funding, Rucci says, “At the present time we have about $3 million to $3.5 million in the treasury. That will take us through this drilling program. We are looking at raising funds possibly in September. However, if this news continues, and the stock rises to about $0.60, we do have warrants that will bring in about $11 million to the treasury.

“I’m very happy with the project,” he concludes. “We’ve had about five different drill programs on it. We have a resource on the property, and if we found nothing else we’d still generate about $1 million net a month for the company with these prices. Now we have this huge find and the question is, how big is it? I think it could be very large. So I’m very excited, and I think the future’s very bright for Sienna.”

View Company Profile

Contact:
John Rucci
President
403.508.2061

by Ted Niles

Sienna reports Peru Assays of 2.28 g/t Gold, 1,024.6 g/t Silver over 55.5m

February 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced assays from the Callanquitas structure of its Igor project in the La Libertad region, Peru. Results include

1.33 g/t gold over 8.1 metres
(including 6.5 g/t gold over 1.5 metres)
2.16 g/t gold and 122.9 g/t silver over 7.3 metres
(including 4.22 g/t gold and 241.4 g/t silver over 3.5 metres)
2.28 g/t gold and 1,024.6 g/t silver over 55.5 metres
(including 5.58 g/t gold and 5,465 g/t silver over 1.2 metres)
50.7 g/t silver over 15.2 metres
56.2 g/t silver over 15.7 metres
1.87 g/t gold and 29.8 g/t silver over 13.5 metres
(including 3.41 g/t gold and 51.4 g/t silver over 6 metres)
1.7 g/t gold and 110.1 g/t silver over 74.5 metres
(including 4.67 g/t gold and 403 g/t silver over 17.6 metres)

President John Rucci tells ResourceClips.com, “We acquired Igor in 2005 along with 11 other projects. We dropped all of them but Igor. We’ve expanded Igor since then, adding another 300 hectares immediately adjacent to it on the southeast corner. It has been mined all the way from the Incas through the Spaniards to today. So it’s a very rich mountain. We have three targets that we’re chasing; we’ve identified two, which have a 43-101 resource of approximately 200,000 gold-equivalent ounces in the inferred category. Now our major discovery, Callanquitas, is to the northwest and looks very rich. It extends probably over a one-kilometre length, is open at depth and at strike, and is open to the north and south. We feel we have a major discovery here, with bonanza-type grades of silver, and even the gold values are very high as well.

These are huge grades. The company is targetting a million ounces of resource after this drilling program, and I think we’re going to achieve it—John Rucci

“In 2010 and 2011, we started out with a five-hole drill program. We found some very interesting stuff, and we were able to add another three holes to that which returned big grades again. That gave us the information which started the drilling program this year. We’re drilling infill holes and some step-out holes. So we’re going to close it in, get it down to a 50-metre grid, if we can, for better resource definition. We’ve got another 5,000 metres to drill on Callanquitas, and we’ve got another 3,000 metres to drill up in the Domo and Tesoros areas.

“These are huge grades,” Rucci exclaims. “These are phenomenal values. The company is targeting a million ounces of resource after this drilling program, and I think we’re going to achieve it. We are planning to have a 43-101-compliant resource—albeit in the inferred category—by the end of this year.”

He continues, “We had started a prefeasibility-type study for the small mine at Domo and Tesoros, and part of the drilling there was to close in the ounces that we have in the resource in that area. So that’s moving forward, but now in light of what’s coming out of Callanquitas, the design would have to be much different than what we’d planned. If in fact it provides what we need, we’ll start investigating opportunities to put the whole thing in production—Callanquitas, Domo and Tesoros.”

Rucci notes that the company was aiming to bring the Domo and Tesoros areas into production by late 2013, early 2014. However, if Sienna decides to include Callanquitas, “You’re talking a much bigger development.”

“The infrastructure is excellent in Peru,” he reports. “We have a lot of local workers up there, and equipment is readily available. Our manager of exploration is an expat, but the remainder are all Peruvians—Senior Geologist, field geologists. A good professional staff. We’ve got roads; we’ve got power; we’ve got water.”

Regarding funding, Rucci says, “At the present time we have about $3 million to $3.5 million in the treasury. That will take us through this drilling program. We are looking at raising funds possibly in September. However, if this news continues, and the stock rises to about $0.60, we do have warrants that will bring in about $11 million to the treasury.

“I’m very happy with the project,” he concludes. “We’ve had about five different drill programs on it. We have a resource on the property, and if we found nothing else we’d still generate about $1 million net a month for the company with these prices. Now we have this huge find and the question is, how big is it? I think it could be very large. So I’m very excited, and I think the future’s very bright for Sienna.”

View Company Profile

Contact:
John Rucci
President
403.508.2061

by Ted Niles

Sienna reports Peru Silver Assays as high as 306.1 g/t over 30m

January 27th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced assays from its Igor project in the La Libertad region of Peru. Results include

0.96 g/t gold and 15.9 g/t silver over 35.6 metres
(including 3.92 g/t gold and 29.7 g/t silver over 4.2 metres)
2.46 g/t gold over 29.2 metres (including 4.39 g/t gold over 8.4 metres)
0.51 g/t gold and 306.1 g/t silver over 30 metres
1.03 g/t gold and 106.1 g/t silver over 7.3 metres
0.99 g/t gold and 434.9 g/t silver over 10.2 metres
1.04 g/t gold and 106.7 g/t silver over 2.2 metres

Director Warren Pratt said, “We are very pleased with these initial results. The Callanquitas Structure is proving robust and predictable. Two points should be emphasized. Firstly, drilling and surface sampling demonstrate high grades and continuity both laterally and over a considerable elevation difference. Secondly, we have started to identify higher-grade oreshoots with exceptional silver grades; these may well be the eventual ‘mine-makers’. The 10,000-metre drill program is designed to help define a resource by the end of 3Q 2012. It will be modified accordingly if more oreshoots are identified. This would quickly add ounces.”

View Company Profile

Contact:
John Rucci
President
403.508.2061

by Ted Niles

Sienna reports Peru Assays up to 2.46 g/t Gold over 29.2m

December 20th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningSienna Gold Inc TSXV:SGP announced drill results from Callanquitas structure of the Igor project in the La Libertad region of Peru. Highlights include

0.96 g/t gold and 15.9 g/t silver over 35.6 metres
(including 3.92 g/t gold and 29.7 g/t silver over 4.2 metres)
0.71 g/t gold over 10.7 metres
2.46 g/t gold over 29.2 metres
2.19 g/t gold over 4.5 metres
26.9 g/t silver over 5.4 metres
30.1 g/t silver over 7.6 metres
0.54 g/t gold and 386 g/t silver over 30 metres
(including 1.62 g/t gold and 3,995 g/t silver over 0.6 metres)

Exploration Manager Owen Miller remarked, “We are extremely pleased with the results from holes CA-11-09, CA-11-10 and CA-11-11. They provide further support for the geological model developed in the 2010-2011 drill campaign: a relatively wide lower-grade structure with high-grade ore shoots. We are particularly excited by the very high-grade silver mineralization. These high-grade ore shoots open up the possibility of rapidly increasing the size of the resource on the Igor project.”

View Company Profile

Contact:
John Rucci
President
403.508.2061

by Ted Niles

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

April 21st, 2011

“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.”

View Press Release Summary

View Company Profile

Sienna reports Peru Assays of 1.23 g/t Gold, 16.9 g/t Silver over 41.3m

April 20th, 2011

Sienna Gold Inc TSXV:SGP announced results from its Igor Project in Peru. Assays include 1.23 g/t gold and 16.9 g/t silver over 41.3 metres (including 3.86 g/t gold and 45.5 g/t silver over 11.3 metres), 22.7 g/t silver over 22.7 metres, 1.5 g/t gold over 1.9 metres, 18.2 g/t silver over 24.9 metres, 39.9 g/t silver over 8.7 metres, 0.7 g/t gold and 32.3 g/t silver over 7.3 metres, 1.17 g/t gold and 99.6 g/t silver over 0.5 metres, and 0.46 g/t gold and 30 g/t silver over 13.5 metres (including 2.63 g/t gold and 303 g/t silver over 1.1 metres).

President John Rucci tells ResourceClips.com, “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,” continues Rucci. “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,” Rucci concludes. “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.”

View Company Profile

Contact:
John M. Rucci
President
403.508.2061

by Ted Niles

Sienna reports Peru assays as high as 1.85 g/t Gold, 21.12 g/t Silver over 8m

March 18th, 2011

Sienna Gold Inc TSXV:SGP announced assay results from the Callanquitas Area of its Igor Project in Peru. Highlights include 0.57 g/t gold and 16.43 g/t silver over 35 metres (including 1.85 g/t gold and 21.12 g/t silver over 8 metres), 0.69 g/t gold and 56.63 g/t silver over 15.8 metres (including 4.96 g/t gold and 908 g/t silver over 0.8 metres), 0.65 g/t gold and 21.99 g/t silver over 20 metres (including 12.1 g/t gold and 232 g/t silver over 0.4 metres), and 47.08 g/t silver over 135.5 metres (including 1,360 g/t silver over 1.5 metres).

Exploration Manager Owen Miller remarked, “We are very pleased with the results of the drill program to date. In addition to confirming and extending the known mineralization drilled in 2008 the current program has led to a new geological model for the Callanquitas area. Drill results, combined with recent and historic surface sampling suggest that mineralization in the Callanquitas area is controlled by a north-south trending structural zone. The structural zone is approximately one kilometre long and open to the north and south.”

View Company Profile

Contact:
John M. Rucci
President
403.508.2061

by Ted Niles