Sidney Resources Corp. Announces Completed Acquisition of The Walla Walla Project, a Near Production Ready Resource in Idaho County, Idaho.
Sidney Resources Corporation (OTC PINK:SDRC) announced the acquisition of the Walla Walla Project, enhancing its asset base in Idaho. Located near the Lucky Ben Project, the acquisition includes 47 lode claims over 1.61 square miles, with a proven resource tonnage of 225,000 tons at gold grades between 0.25 opt and 8 opt. Historical analysis revealed gold concentrations ranging from 1.8 opt to 33.9 opt, averaging 13.56 opt. This acquisition is a strategic move to boost SDRC's revenue generation potential and further exploration of the region known for high-grade gold and silver.
- Acquisition of Walla Walla Project expands SDRC's holdings by 1.61 square miles.
- Proven resource tonnage of 225,000 tons with high-grade gold potential.
- Successful historical analysis indicates strong gold concentrations.
- Strategic plan aims to revive production and explore additional resources.
- None.
COEUR D'ALENE, ID / ACCESSWIRE / March 1, 2023 / Sidney Resources Corporation, (OTC PINK:SDRC) is pleased to announce the completed acquisition of the historical Walla Walla Project within the Marshall Lake Mining District, Idaho County. Approximately 10 miles from Sidney's Lucky Ben Project, the Walla Walla Mine is a high grade gold vein located near the historic Kimberly and Warren Mining Districts. This acquisition adds a total of 47 lode claims or 1.61 square miles to SDRC's holdings in Idaho. Most importantly it adds a production ready, proven out resource tonnage of 225,000 tons at a gold grade ranging 0.25opt - 8opt. With multiple veins and possible extension of the veins at depth, the property is wide open for further gold/silver resources. During the 2022 season F & H Mining completed chemical analysis of 8 samples with results ranging from 1.8 opt to 33.9 opt with a raw average of 13.56 opt. This significant step forward will put Sidney much closer to revenue generation.
The gold bearing vein of the Walla Walla Mine was originally discovered in the early 1970s. Several individuals have explored and mined the claim on a limited basis most notably in the early 1990s by Strata Mining, a Canadian junior exploration and mining company. Strata Mining completed trenching, drilling, and ultimately a small surface pit operation at the site during their tenure. Unfortunately, none of the trenching information or drill logs were retained and the information was lost. The existing disturbance boundary approved by the USFS was the original area used by Strata Mining for their operations. Eventually, the group sold the claims to F&H Mining Company. Prior to the sale of the project, the previous owners submitted a Plan of Operations to the USFS. They completed the process and approved small-scale mining for the project in February of 2008. In addition F&H Mining holds a water right for the project, Water Right ID #615146 was issued on 5/8/2006 and allows for water to be diverted from an unnamed stream, groundwater and from mine workings to a pond for; diversion to storage, mining from storage and mining storage.
With the purchase completed, F&H Mining began to advance the project. Under the direction of KMS, F&H Mining started project development. A small drilling program was developed to test the structural continuity of the vein in 2010 which was very successful; intercepting the vein at various depths. The drilling program demonstrated the continuity of the mineralization, both laterally and vertically within the Walla Walla Shear Zone and all drill holes contained gold values. It also confirmed the shear zone exists approximately 200 feet along strike and 475 feet down dip. In 2011, a geophysical survey was successful in detecting other geologic structures. It appears that the Walla Walla project has similar structures to the historic Kimberly District which successfully produced over 1,000,000 ounces of gold. Since that time a preliminary budget to bring the project to a production rate of approximately 200-300 tons per day was never finalized. The most foreseeable reason being the subsequent decline in spot gold years 2012 - 2016. This brings the project to the present day, with Sidney Resources acquiring
On the successful acquisition COO and Head of Exploration Activities at Sidney Resources Corp. commented: "Acquisition of the Walla Walla claim group is part of our strategic plan to move the region back into production through the development of multiple ore source points to supply a larger regional mill. Our Chief Science Officer, Mike Irish and the recent acquisition of Irish Metals have significantly expanded our capacity to develop recovery and processing systems internally. We could not be more excited about the future; these claims are part of a region known for the high-grade gold and silver. We look forward to the upcoming season as we continue to develop these claims and explore for additional resources including critical rare earth minerals".
Contact & Learn More:
Sidney Resources Corporation
Phone: 509-552-9858
dan@sdrccorp.com
Corporate Website: http://sidneyresources.com/
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About Sidney Resources Corp.
Sidney Resources is conducting exploration and development work to determine the values of ore bodies located on three patented claims, The Lucky Ben, Lucky Ben Extension and Hornet properties totaling 53 acres. Sidney then has an additional fourteen unpatented claims totaling 300 acres directly adjacent all located in the famous Warren Mine District of Idaho. Originally founded in 1896 and incorporated in 1910, Sidney Resources Corporation is more than just a mining and exploration company. Sidney Resources Corporation also recently acquired the "Graduated Optical Collimator" and is applying the academic conceptualization, computer modeling, and study of laser technology to now actively engineer and design inaugural "thermal fracturing" prototype units for the mining industry and adjunct applications in the areas of construction and rescue where safe and efficient removal of material is required.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SDRC/disclosure.
SOURCE: Sidney Resources Corp.
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