Advertisement
CALGARY, ALBERTA -- (Marketwire) -- 11/13/12 -- Sienna Gold Inc ("Sienna" or the "Company") (TSX VENTURE: SGP) (LMA: SGP) is pleased to announce the release of an initial mineral resource estimate for the Callanquitas Structure, at its 100%-owned Igor project, in La Libertad, Peru.
Highlights include:
-- Inferred Mineral resource of 7.2 million tonnes grading 1.94 grams per tonne (g/t) gold and 71.8 g/t silver, which equates to 3.16 gold equivalent (Au Eq(i)) g/t using a cut-off grade of 1.5Au Eq(i) g/t.-- Approximately 448,500 ounces of gold and 16,600,000 ounces of silver which equate to approximately 730,500 Au Eq(i) ounces.-- The Callanquitas Structure remains open along strike and at depth.-- Discovery cost of about US$14 per Au Eq(i) ounce.
The mineralization at Callanquitas comprises intermediate sulfidation epithermal gold and silver. It occurs in hydrothermal breccias and sheeted veins. Originally sulfide-rich, these are now strongly oxidised, commonly to more than 300-400 m below surface. Polished thin sections suggest that, in oxidised rocks, the gold occurs freely (not encapsulated in sulphides) and that silver occurs as chlorargyrite, acanthite and native silver. The long section below shows piercement points and AuEq grade as a grams x metre plot.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/1113sgpimage.jpg
Epithermal mineralization at Igor was superimposed onto widespread porphyry-style hydrothermal alteration, including sericite + pyrite + quartz.
A table presenting the estimated Inferred Mineral resource is shown below, with various cut-off grades for comparison purposes. Highlighted in the table is a base case cut-off threshold of 1.5 g/t AuEq cut-off which is considered appropriate for potential underground mining activities of a deposit of this type, scale and location. Resource tonnages were estimated using a dry density of 2.55 tonnes per cubic metre.
---------------------------------------------------------------------------- Contained Cut-Off Au Tonnes Au Eq Au Ag Contained Contained Au Eq Eq (g/t) (kt) (g/t)(i) (g/t) (g/t) Au (koz) Ag (Moz) (koz)(i)---------------------------------------------------------------------------- 0.5 11,291 2.39 1.47 53.8 535.0 19.5 866.9---------------------------------------------------------------------------- 1 9,486 2.70 1.67 60.5 508.6 18.4 822.1-------------------------------------------------------------------------------------------------------------------------------------------------------- 1.5 7,189 3.16 1.94 71.8 448.5 16.6 730.5-------------------------------------------------------------------------------------------------------------------------------------------------------- 2 5,460 3.61 2.19 83.7 384.6 14.7 634.3---------------------------------------------------------------------------- 2.5 3,992 4.11 2.45 98.2 313.9 12.6 528.1---------------------------------------------------------------------------- 3 2,730 4.75 2.73 119.1 239.4 10.5 417.1----------------------------------------------------------------------------
