Sunergy Orders Initial Equipment to Commence Recovery Operations of Rare Earths (REEs), Gold and Diamonds on Its 140 Sq. Km. Pampana River Concession in Sierra Leone, West Africa
Press Release Source: Sunergy Inc. On Wednesday November 10, 2010, 8:30 am EST
SCOTTSDALE, AZ--(Marketwire - 11/10/10) - Sunergy, Inc (the
- News) reports that it has today ordered the initial equipment required to commence recovery operations of rare earths (REEs), gold and diamonds from its 140.1 sq. km. Pampana River concession in Sierra Leone, West Africa. A detailed list of the equipment is attached to this Press release. Timing for expedited delivery to Sierra Leone is approximately 35 days from today.
Sunergy's recently acquired subsidiary, Allied Mining & Supply, LLC, currently has the exclusive international distribution rights for commercial dredges and mining equipment through an existing agreement with Gold Dredge Builders Warehouse. The commercial line of dredges and recovery equipment is based on the original flared sluice designed by Alan Trees and proven in the harshest environments worldwide.
The dredges have undergone further design modifications based on the previous field testing and sample mining performed by Allied Mining & Supply personnel and are to be custom fitted with gemstone and heavy mineral sands recovery systems. These three 8" dredges are capable of processing about 40-50 tons per hour each for total processing of about 120-150 tons of material each hour. The plan is to deploy around a dozen or more additional dredges over the next several months.
Assays of heavy black sand concentrates containing rare earths (REEs) in 2009 and 2010 showed quantities of rare earths and other valuable minerals in commercially exploitable grades. Recent assays by ALS Chemex in Sparks, Nevada identified several of these rare earths contained in the heavy black sands along with gold as follows: Lanthanum, Scandium, Thallium, Cerium, Dysprosium, Hafnium, Lutetium, Niobium, Neodymium, Praesodymium, Tantalum and Zircon.
Substantial concentrations of gold have also been determined to be contained in the concession. Data indicates gold concentrations ranging from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown, Sierra Leone, indicate gold purity to be 89%. Over 500,000 ounces are contained in reports in the north 28% of the 140 sq. km. concession. Sunergy President Bryan Miller Says: "I am very pleased that our recent merger with Sunergy has provided our investors confidence for their investment and commitment in the future of our mining operations in Sierra Leone. It is great that the existing Sunergy investors have also responded positively to the opportunity for immediate commencement of recovery operations for the rare earths, gold and diamonds known to be found on our Pampana River concession."
Sunergy Chairman P.K. Medhi says: "We are now underway to having our operations in Sierra Leone bear some 'low hanging fruit.' The dredging operation is the fastest and least expensive method to demonstrate the viability of the recoverability of our rare earths, gold and diamonds in Sierra Leone. I am encouraged that a similar operation for our Ghana concession will also be staged in the near term. Just below us on Ghana's Offin River, 1.45 million ounces of gold has been recovered by dredging operations historically." 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 in Ghana, West Africa and the 140.1 sq. km. Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We are production and acquisition oriented and are considering several projects suitable for near term production 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. 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.
An order for the following equipment (italics) has been placed with Gold Dredge Builders Warehouse for immediate delivery to the Sierra Leone prospect:
|DESCRIPTION||PER UNIT ($)||TOTAL ($)|
|3, 8" River Dredges* (40 "tph" ea.)||45,000||135,000|
|Solar Power Systems||5,300||5,300|
|Vehicle (Defender or Similar)||25,000||25,000|
|2 Gensets (5kVA)||5,000||10,000|
|Diving & Support Equipment||20,000||20,000|
Allied Mining & Supply (Sunergy) currently has the exclusive international distribution rights for commercial dredges and mining equipment through an existing agreement with and Gold Dredge Builders Warehouse. The commercial line of dredges and recovery equipment is based on the original modular flared sluice designed by Alan Trees and proven in the harshest environments worldwide. The dredges have undergone further design modifications based on previous field testing and sample mining performed by Allied Mining & Supply personnel and are to be custom fitted with gemstone and heavy mineral sands recovery systems.
* Dredges w/custom sluice for heavy mineral sands and gemstone recovery
** Extended 8" suction hose, nozzles, air tanks, lights, air compressor
14362 N. FRANK LLOYD WRIGHT BLVD
SCOTTSDALE AZ 85260
Investor Relations: Steve Parent