Sunergy Update: 2010 Operations on Its 150 Sq. Km. Ghana Gold Mining Concession About to Commence With Focus on Near Term Production
Press Release Source: Sunergy Inc. On Thursday September 9, 2010, 7:07 am EDT
SCOTTSDALE, AZ--(Marketwire - 09/09/10) - Sunergy, Inc (the
- News) reports the following update on the planned operations on our 150 sq. km. Nyinahin gold mining concession, located in Ghana, West Africa. During Q'4 2010 our plan is to test and evaluate the alluvial gold recovery potential along the Offin River which runs through the eastern portion of the concession for about 10 km. By bulk sampling the numerous existing artisan pits along the river on our concession and developing a grid with new sample pits, we will establish the necessary information to enable a strategic near term targeted high grade production decision. The operation is planned to commence shortly.
The Offin River is a southwestern-flowing waterway in Ghana. It flows through the Tano Offin Reserve in Ghana's Atwima District. The Offin and the Pra rivers form the boundary between Ghana's Ashanti and central regions. Dunkwa-on-Offin is a major town on the river. Gold is mined from the river's sediment. The Offin tributaries also offer good gold recovery historically. Bonte Alluvial Placers, Ghana's largest alluvial gold producer, is located on Sunergy's eastern concession boundary. Newmont Mining joins our western boundary.
There is no evidence of any large scale alluvial gold exploitation historically on our Nyinahin concession, so any mineable gold should still be in place. There are numerous artisan pits along the Offin River and its tributaries on our concession that suggest the abundance of contained alluvial gold. Historical and current alluvial gold production on the Offin River is well documented and a more comprehensive discussion will be presented in an upcoming press release.
In addition to alluvial gold recovery, this cornerstone project also offers substantial hard rock exploration potential in three large geochemical gold anomalies, as well as hosting linear features similar to those identified in nearby gold mining areas that, according to reports, warrant a vigorous exploration effort. Some larger mining Companies operating in the area have already expressed interest in evaluating the hard rock mineral potential on our concession.
We are currently evaluating additional immediate gold production acquisition opportunities in Ghana to establish early cash flow which should aggressively advance our shareholder value. In addition to the recently announced Allied Mining and Supply, LLC planned acquisition in Sierra Leone (See September 7, 2010 Press Release), the Company is also evaluating acquisition targets for near term gold production elsewhere in West Africa to broaden its mineral portfolio base.
NOTICE: Investors should be aware that recent market activity may be the result of the forward split and/or market awareness activity contracted for by third parties and should not be construed to be any reflection of any instability or negative corporate matters. The Company has not contracted or issued any shares to any Investor Relations parties. Any compensation has only come from third parties who may have contributed their existing shares to retain this activity. Abnormal or unusual selling activity, therefore, is not associated with any corporate activities. The Company's fundamentals remain strong and growing substantially and Management is confident that the market for its shares should stabilize to reflect this in the near term. Investors are encouraged to do their own due diligence before investing in our Company's shares.
About Sunergy: The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 sq. km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Offin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Offin river is historically known for good alluvial gold production. The Company is acquisition oriented and poised for rapid growth. The Company is also involved in facilitating petroleum supplies to Ghana through its affiliation and strategic alliance with a Global Petroleum Trading and Supply company and plans to expand its petroleum influence in West Africa.
Further information is available on the Company's website www.sunergygold.com
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Nyinahin Mining Concession and on the completion of the planned Allied Mining and Supply, LLC acquisition.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward- looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.