Sunergy Large Scale Rare Earth Element (REEs) Concentrates Valued at Over $3,897/Ton After Free Gold Removal on Its 140 sq. km. Pampana River Licensed Concession in Sierra Leone, West Africa
Press Release Source: Sunergy Inc. On Tuesday December 7, 2010, 7:07 am EST
SCOTTSDALE, AZ--(Marketwire - 12/07/10) - Sunergy, Inc (the "Company") (Pinksheets:SNEY - News) reports that in addition to the free gold recovered in alluvial test mining conducted by its subsidiary Allied Mining and Supply, LLC on its 140 sq. km. Pampana River Licensed Concession in Sierra Leone, West Africa, the Rare Earths (REEs) concentrates recovered are valued at over $3,897.00/ton. Diamonds are also a component recovered in the operation as a value added byproduct.
These sands are consistent and verified in the river channel and along the banks and benches. Company geologists estimate 50kg./tonne rich black sands easily recoverable by dredging and land-based mining suggesting the likelihood of highly profitable and immediate alluvial mining operations. Inspection of artisanal mining and prospecting sites within the license area show black sands containing the rare earths (REEs) throughout the claims. Titanium values previously announced are included in the above valuation. The content and values of Rare Earths (REEs) including the residual contained gold and titanium for the five samples of concentrates are averaged as follows:
Table: Pampana River Black Sands Analyses # ------------------------------------------- ppm pct. (%) lbs/ton troy oz/ton value/ton ------------ ------------ ------------ ------------ ------------ Au 17.21 0.00172% 0.03443 0.441 $573.82(*3) Ce > 8748 > 0.875% > 17.50 > $397.64(*4) Cr 3932 0.393% 7.86 $42.88 Dy 149 0.0149% 0.295 $40.93 Er 83.4 0.0083% 0.167 $? Eu 42.5 0.0042% 0.085 $24.67 Fe --- 16.05% 321 $32.10 Gd > 491 > 0.049% > 0.983 $20.55 Hf 1689 0.169% 3.38 $994.97 (*1) Ho 24.6 0.0025% 0.049 $? La 6022 0.602% 12.04 $273.73(*6) Lu 15.37 0.0015% 0.031 $? Mn 10160 1.016% 20.32 $30.94 Nb 2661 0.266% 5.61 $108.39(*8) Nd 4523 0.45% 9.05 $281.08(*5) Pr > 864 > 0.086% > 1.73 > $57.83(*10) Sm > 557 > 0.056% > 1.12 > $17.74 Ta 1231 0.123% 2.46 $233.97(*7) Tb 42.8 0.0043% 0.086 $23.93 Ti --- 9.63% 193 $637.73(*2) Y 740 0.074% 1.48 $29.60 YB 83.8 0.0084% 0.167 $? Zr > 10000 > 1.0% > 20.0 > $75.45(*9) Total Value of black sands per ton: > $3,897.65
Ten Most Valuable Commodities in black sands concentrates: *1, *2, *3, *4, *5, etc.
# Values shown are arithmetic average of five samples
The five samples (Nos. 46-50) assayed by aLS Chemix in Sparks, NV.
Substantial concentrations of gold have also been determined to be contained in the concession. Data from test mining indicates gold concentrations ranging from 1 to 18 grams per tonne of feed material after overburden removal. Fire assays conducted in Freetown, Sierra Leone indicate gold purity to be 91%. in the north 28% of the 140 sq. km. concession.
Reports indicate recoverable alluvial gold on the Pampana North section (40.1 sq/km) at over 500,000 oz. with average grades of 0.12 ounces per tonne qualifying as superior grade deposits as defined by the US Bureau of Mines. The Company was granted a boundary modification by the Sierra Leone Mines Ministry to include an adjacent 100 square kilometres.
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 dredging both rivers for gold, rare earths (REEs) and diamond 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. Company representatives are now in Ghana, and Sierra Leone, West Africa to assist in the production start-up plans for the beginning of the dredging operations scheduled to start in January 2011.
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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