Vancouver, British Columbia – August 8, 2013, Sundance Minerals Ltd., (“Sundance” or the “Company”) is pleased to announce that it has completed agitated cyanidation leach testing on three composite samples from the San Ricardo project in Sonora, Mexico.
Chris Osterman, President and CEO of Sundance, stated, “We are encouraged to see high gold recoveries with relatively short extraction times; this data is a positive step in the evaluation of the San Ricardo project”.
THE TESTS:
SGS Metcon/KD Engineering (SGS) were sent seven samples with weights ranging between 2.3 and 4.5 kg to conduct an agitated cyanide leach study. The samples were derived from a core drilling program conducted at San Ricardo by Sundance during the last quarter of 2012. The samples were composited into three larger samples based on the three drill holes from which they were taken.
Pertinent features are;
- The total gold content in the head composite samples ranged from approximately 0.6 gpt to 20.3 gpt.
- Gold extraction ranged from 72 to 96 percent.
- The total silver content in the head composite samples ranged from approximately 0.8 gpt to 173 gpt.
- Silver extraction ranged from 24 to 65 percent.
- Cyanide consumption was low and ranged from 0.097 kg/t to 0.373 kg/t.
- Gold extraction time is favorable with 72 percent of the gold leached in 5 hours in the highest grade composite sample.
THE PROPERTY:
The San Ricardo Property area covers 38,100 hectares in northern Sonora State. The region hosts large Cu-Mo porphyry deposits, such as Cananea and Creston, and a number of mesothermal and epithermal gold-silver deposits, including the San Francisco (Timmins Gold), Mercedes (Yamana Gold) and Santa Elena (Silver Crest Mines). Excellent road access allows year-round exploration. http://www.sundanceminerals.com/s/San_Ricardo.asp)
SUNDANCE-PAGET MINERALS AGREEMENT:
Sundance has an agreement with Paget Minerals (Paget), wherein Paget has an exclusive right to earn an initial 51% interest by incurring US$500,000 in exploration expenditures by August 17, 2013 and an additional US$5M by August 17, 2016. Paget has expended the US$500,000 for this work year. Paget also retains an exclusive right to earn an additional 9% by funding a pre-feasibility study in the three-year period following the 51% earn-in date. The costs of the met testing were funded by Paget pursuant to the agreement.
Sundance has been the operator during the first 12 months employing its established technical and logistical support team in Mexico. The operator in the ensuing years will be determined by Paget.
Quality Control:
All samples are collected in accordance with accepted industry standards and best practices. Samples were submitted to SGS Laboratories in Tucson, Arizona and Inspectorate in Richmond, BC, Canada for analysis.
Qualified Person
Dr. Chris Osterman, Board Registered Professional Geologist, is the Company’s Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical information in this shareholder update.
About Sundance:
Sundance Minerals is an exploration company currently focusing on precious and base metal projects in Mexico and the United States. Our mission is to create and sustain shareholder value by developing a balanced portfolio of exploration targets in known districts. Sundance has a portfolio of 14 properties in Mexico and one in Nevada, most of which are available for joint venture. Technical information including geology, geochemistry, and geophysics is available for all of them. Five out of the 15 properties have historic drill holes. Leading properties are Miranda and San Ricardo gold projects in Sonora, Los Tamales (Cu) in Sonora, as well as Geranio and Lachatao gold projects in the Natividad mining district in Oaxaca, Mexico.
For further information on Sundance Minerals Ltd. please visit our website www.sundanceminerals.com, or contact Chris Osterman, President, at +1 (520) 906-6633.
