Suparna Gold updates drilling assay results at Sara Creek concession
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 27, 2012) – Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) is pleased to announce that all assay results for its 2,388 metres of the planned 5,000 metre diamond drill program on its Sara Creek Property located in Suriname, South America, have been received. Assays were completed by Filab Suriname and check assays are being completed by SGS Peru (ISO certified).
The first part of the diamond drilling program (16 holes) targeted gold in soil (auger sampled) as well as grab and channel sample anomalies associated with defined shear zones and interpreted lithological contact zones (both important parameters in gold mineralization within the Guiana Shield) as derived from airborne interpreted magnetic and radiometric data. A total of 1,391 samples were sent to Filab Suriname. A review of the assay results determined that holes GRA -003 and ALI-003 were the only holes to return assays of greater than 0.4 grams gold per ton.
Mineralized intervals intercepted in holes GRA-003 and ALI-003 are summarized below and no recovery issues are believed to materially impact the accuracy of these results.
(60 degree dip)
(50 degree dip)
Gold mineralization intercepted by diamond drilling is associated with near surface felsic derived saprolite and clay rich zones, while silicified andesite hosts gold mineralization at depth within both holes GRA-003 and ALI-003. Although quartz vein stringers are associated with all of the above mentioned assays, significant mineralized quartz vein development is only present at 84 metres in hole GRA-003 and at 14 metres in hole ALI-003.
About Suparna Gold Corp
Suparna is an exploration company with its flagship Sara Creek Property located in the highly prospective Guiana Shield in Suriname, South America. The Sara Creek project has a large property position in the Guiana Shield covering 56,920 hectares, and is located approximately 150 air kilometres to the south of Paramaribo, the capital city of Suriname.
Mr. Garry Clark P.Geo. is the "qualified person" as defined in National Instrument 43-101, who has reviewed and approved the technical content in this press release.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Company's assaying work and its proposed exploration activities. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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Suparna Gold Corp.