Sunergy's Large Scale Rare Earth Element (REEs) Deposit Containing Gold and Diamonds in Sierra Leone, West Africa Also Contains an Average of 9.628%(192.6 lb./ton) Titanium in the Recovered Concentrates
Press Release Source: Sunergy Inc. On Wednesday December 1, 2010, 7:03 am EST
SCOTTSDALE, AZ--(Marketwire - 12/01/10) - Sunergy, Inc (the "Company") (Pinksheets:SNEY - News) reports that in addition to Gold, Rare Earths and Diamonds, Titanium exists in the heavy sands at an average of 9.628% or 192.6 lbs Titanium per ton of recovered concentrates. Assays of heavy black sand concentrates 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 Titanium and gold as follows: Lanthanum, Scandium, Thallium, Cerium, Dysprosium, Hafnium, Lutetium, Niobium, Neodymium, Praesodymium, Tantalum and Zircon.
On Sunergy's Pampana River Property in Sierra Leone, titanium minerals form a significant part of the black sands concentrates that have been recovered during the sampling program conducted by Sunergy's subsidiary, Allied Mining and Supply. The content and values of titanium for five samples of concentrates are:
|No.||Pct. (%)||Lbs/Ton||Titanium sponge/mt @$7.30/kg|
The five samples (Nos. 46-50) average: 9.628% Titanium or 192.6 lbs Titanium per ton of concentrates, and the value for Titanium sponge @$7.30/KG per ton of concentrates is $639.08. Source of price for titanium sponge is the Metal Pages web site.
Sierra Leone has long been known for its production of titanium ore, consisting of the minerals rutile and ilmenite. (FeTiO3 or FeO TiO2). Before the 1995 start of its civil war, Sierra Leone was one of the world's leading producers of both rutile and ilmenite. Since the end of the civil war, dredges were refurbished and production of rutile and ilmenite was re-started in 2006.
Rutile (TiO2) is the naturally occurring mineral form of titanium dioxide and was first discovered in Sierra Leone in 1954. Sierra Leone has one of the largest reserves of rutile of any country, worldwide, and these deposits had been mined since 1967. Rutile occurs as an accessory mineral in the high-grade gneisses of Archean age, but has been eroded from these rocks and transported, deposited, and concentrated as alluvial deposits along several of Sierra Leone's rivers and beaches.
Titanium dioxide is used in pigments for paint, gemstones, paper, sunscreens, air purifiers and welding rods. Titanium metal has a wide range of uses including ferro-titanium steel alloys and alloys with aluminum, vanadium, copper, iron, manganese, molybdenum, and other metals. Titanium alloys are used in aircraft, armor plating, naval ships, spacecraft, and missiles; propeller shafts, heat exchangers in desalination plants, and fishing lines and leaders; titanium pipe and process equipment for chemical, petrochemical, and down-hole applications, as well as for the pulp and paper industry; ultrasonic welding and wave soldering; automotive and motorcycle parts, sports equipment, eyeglass frames, backpacker equipment; pyrotechnics; jewelry; architectural applications; firearms; laptop computers, orthopedic implants, dental implants, body piercings, and surgical equipment.
Please visit the Sunergy website www.sunergygold.com and review further information such as Company Reports under Projects, Previous Press Releases and SEC filing information under Investor Info.
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 focused on near term production of these properties this season. We are production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa.
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.
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