Sidney Resources Corporation Lucky Ben Project Update
Sidney Resources Corporation (SDRC) has announced significant progress on its Lucky Ben Project. The road to the site is now open, allowing the Groundhog Mining & Milling Company to begin work on expanding the existing tunnel and conducting a second diamond drilling program. Previous surface sampling in 2018 revealed gold assays of 18.14 to 19.65 g/pt and silver assays of 150.25 to 212.65 oz/pt. The US Forest Service has approved the permit for the new access road, facilitating future operations. The exploration program intends to confirm historical production data, aiming to enhance resource identification.
- Successful opening of the road to the Lucky Ben Project site, enhancing access for operations.
- Groundhog Mining & Milling Company is actively engaged in expanding the existing tunnel and executing diamond drilling.
- Historical assays from the Arlise vein reveal high gold and silver values, supporting potential resource extraction.
- US Forest Service approved the permit for the new access road, enabling further exploration and operational expansion.
- None.
COEUR D'ALENE, ID / ACCESSWIRE / June 27, 2022 / Sidney Resources Corporation (OTC PINK:SDRC) ("Sidney" or the "Company") is pleased to announce the road to the Lucky Ben Project site is open. Groundhog Mining & Milling Company (the "Contractor") is on location and will continue work toexpandand explore the existing tunnel. A second diamond drilling program under previously mined stopes will be completed. An additional target of the diamond drilling program is to intersect the vein of the Arlise Mine which was a past producer of gold and silver. Previous surface sampling of the exposed face of the Arlise vein that was completed in 2018 produced assay results ranging from 18.14 g/pt. to 19.65 g/pt. for gold and 150.25 g/pt. to 212.65 oz/pt. for silver.
The Contractor has already begun work to continue opening the historic tunnel by slabbing and clearing debris for the purpose of accessing previously mined stopes. This seasons operational plan for the Lucky Ben was developed from data obtained during last season's work including the diamond drill program that proved the down-dip extension of the vein exposed along the Lucky Ben Adit by J.A Czizek during work in the early 1900's. J.A Czizek was considered the most scientific miner of his era.
Highlights from the 2021 diamond drill program included a leading assay result of 23.58 g/t and the average assay result for the 6 holes drilled was 8 g/t as reported by the Company Geologist, Richard Morris. Dan Hally, Chief Operations Officerused the following comparison to explain the significance of these assay results, "the World Gold Council defines a high-quality underground mine as having a gold ore density between 8 and 10 g/t and we are pleased that our results are multiples above what is considered high quality through the results of our first diamond drill program"
The exploration program has been designed to confirm the information uncovered during an exhaustive review of historical records that provided a wealth of information regarding past production work completed on the Lucky Ben. News articles from the historic Warren Times reported in 1868 the Lucky Ben produced ore containing 5 to 18 ounces per ton. Historical exploration records from Goldstone Corporation which completed exploration work on the Lucky Ben during the period from 1983 to 1987 state sampling of vein material in the trenches and portal dumps gave assay values ranging from 0.2 to 10.4 ounces per ton silver and 0.1 to 13.05 ounces per ton gold. This converts to a range of 5.66 g/t to 294.83 g/t of silver and 2.84 g/t to 369.96 g/t of gold. During October of 1983, backhoe trenching confirmed the extension of the vein east of the portal and exposed several former producing stopes that had carried through to the surface. Further sampling of the Lucy Ben gold-rich quartz vein system that was completed near the portal of the 6570-level adit revealed a 1.5-foot-wide quartz vein grading at 2.12 o/t gold or 60.10 g/t gold. The vein within quartz monzonite which is strongly altered for 2 to 3 feet on either side of the vein where it assays 0.056 o/t gold. These values would therefore produce a weighted average grade of 0.57 o/t or 16.16 g/t over a mined width of 6 feet.
Our contractor purchased narrow bucket muckers which will allow exploration of the existing tunnel to be completed with significantly less effort and expense with a reduction in the width of the tunnel being rehabilitated. We plan to construct and secure the new adit and then complete drift work directly on the vein structure we identified through our diamond drilling program completed last year. Our contractor is preparing their mobile assay lab to be moved on location so we can complete daily testing for each round we shoot to determine gold values. We have identified the area for our contractor to locate their portable mill. Our contractor is in the process of finalizing the permit applications for the use of this equipment. We will have the ability to process development rock in bulk samples to better determine values of this and other ore bodies as they are identified.
We have been notified by the U.S. Forest Service, McCall Ranger District, that our permit application for the new access road has been approved for the environmental assessment work to be completed. Once we receive final approval, we will plan for construction to begin as soon as is feasible based upon the time of year that approval is obtained. The McCall Ranger District has issued the conditional land use permit for the existing roads we have been utilizing for operations.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Sidney Resources Corporation's Finance's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) gold & silver market volatility, (ii) local and global economic conditions, (iii) our anticipated growth strategies, (iv) governmental approvals and regulations, and (vi) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. All information provided in this press release is as of the date of this press release, and Sidney Resources Corporation undertakes no duty to update such information, except as required under applicable law.
Please visit our website at www.sidneyresourcescorporation.com for updates and news.
Contact for information contained in this press release:
Dan Hally, Chief Operations Officer
Phone: 509-552-9858
Email: dan@sdrccorp.com
SOURCE: Sidney Resources Corp.
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https://www.accesswire.com/706662/Sidney-Resources-Corporation-Lucky-Ben-Project-Update
FAQ
What is the latest update on the Lucky Ben Project by SDRC?
What were the assay results from the previous surface sampling at the Lucky Ben Project?
Who is contracted for the Lucky Ben Project exploration?
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What is the significance of the historical data for the Lucky Ben Project?
