Vancouver, British Columbia — December 6, 2012, Sundance Minerals Ltd., (“Sundance” or the “Company”) is pleased to announce that it has completed the Phase 1 diamond drilling program at the San Ricardo property in Sonora, Mexico. Twelve holes were drilled along a 200 meter strike length of the Santa Cruz fault/vein target and two additional holes (SR12-12&13) were drilled on the Mina Antigua vein. Results are detailed in the following table.
Dr. Chris Osterman, President and CEO of Sundance, stated “that these encouraging drill results have corroborated our underground sampling and the primary silver grades in the Mina Antigua holes will add another dimension to the project.” THE PROPERTY: The total 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 provides 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 the first anniversary of the closing date and an additional US$5M by the fourth anniversary of the closing date. 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. Sundance will be 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: Geochemical samples are collected in accordance with accepted industry standards and best practices. Samples were submitted to Skyline Assayers and Laboratories, Tucson, Arizona, for fire assay. Gold and silver are analyzed by 30gm fire assay. As standard procedure, Sundance conducts routine quality-assurance and quality-control analysis on all assay results, including the systematic utilization of certified reference materials. 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 news release. 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. Forward-Looking Statement: Certain statements in this News Release constitute “forward looking statements” that reflect the Company’s current expectations and projections about its future results. Information concerning the interpretation of exploration results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the continued participation of Paget in the San Ricardo project, the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s other mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other factors of the mineral exploration industry more fully described in the Company’s Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include the following: the accuracy of interpretations of exploration results; the continued participation of Paget in the San Ricardo project, and the availability of equipment and qualified personnel to advance the San Ricardo project. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inomin Closes First Tranche of Private Placement
December 20, 2024
