WARREN, ID / ACCESSWIRE / November 8, 2023 / Sidney Resources Corporation (OTC PINK:SDRC) is pleased to announce the highly anticipated assay results from the recently discovered five significant ore stockpiles (see 10/4/2023 Company Update), which are thought to be remnants of the historical Knott and Delaware Veins near the renowned Hornet Patented Claim, which is part of the thriving Sidney Resources Corporation mining projects near Warren, Idaho (referenced in Figure 1 below).
Figure 1 : Aerial Map of the Lucky Ben Project
Assay Process and Results :
Bulk sampling was performed on the lower stockpile. This involved a grab sample process, taken from multiple regions, including the top, middle, and toe sections of each of the five stockpiles. Sample sites were duly marked and geo-referenced. The gold grade for these samples ranged from 0.72 oz/ton to 1.78 oz/ton Au. An additional 50-pound bulk sample was processed down to a 29-gram concentrate and analyzed, yielding a gold grade of 117 oz/ton Au. This equates to an approximate bulk grade of 2.925 oz/ton.
To obtain the 50-pound bulk sample, material was collected in five 5-gallon buckets until the weight of 50 pounds was reached. This method enabled a complete representation of the stockpile, including ore from the upper, middle, and bottom sections. Each of these materials was crushed to a 50-mesh granularity and condensed to a 29-gram sample before being delivered to Florin Analytical Services. Florin Analytical Services selected the sample size based on the test requirement sample size. Geologist Steve Dobson upheld sampling integrity throughout the procedure.
Figure 2 : Stockpile Location
Stockpile Evaluation :
As of October 20th, 2023, there is approximately 1000 tons of ore grade material stockpiled at the mill site. All material is from the lower stockpile located on the SRP-1 Placer Claim and SRL-1 Load Claim. Barring any unforeseen catastrophic events, the end of year goal of 2000-tons set by Dan Hally, COO for ore grade material to be stockpiled at the mill will be met. The estimated tonnage of the ore-grade material in the SRP-1 Placer Claim stockpiles is approximately 20,000 tons. The conservative estimated gold contained in the ore is approximately 36,200 oz/Au. Given the current gold price of $1974/oz(as of market close pre-press release of 11/7/2023, the gross estimated value of the gold content in the stockpile amounts to $71.458 Million when using the mean assay of 1.81oz/t. The 2000 tons of ore grade material being moved to the mill building is estimated to contain 3,620 oz/Au. Given the current gold price of $1,974/oz, the gross estimated value of gold content in the stockpile at the Sidney Mill amounts to $7.145 Million
Figure 3 : StockPile Evaluation using assay mean of 1.81oz/t
Figure 4 : StockPile Evaluation using bulk concentrate mean of 2.925oz/t
*Key Variables to Consider, Cost Analysis, and Expected Recoveries:
Price fluctuations in gold. The gold grade variations within the stockpile, taking into account both high-grade and low-grade zones, The concentration's density. The parent rock's density. Rates of milling and smelting recovery.
On the Results Sean-Rae Zalewski commented, "This report highlights the considerable assets within the SRP-1 Placer Claim, as substantiated by data derived from both bulk sample and grab sampling methods. I express my gratitude to Dan Hally and Western Frontier for their unwavering dedication and round-the-clock efforts in facilitating the realization of this endeavor. This displays their dedication to the achievement of the organization's objectives. Presently, there is an excess of 1000 tons of gold ore at the mill, far exceeding the planned schedule. For the first time ever, we will be running the Lucky Ben Project all winter. Our goal is to process all of this ore by the end 0f 2024. It will be a very Merry Christmas in 24' "
Contact & Learn More:
Sidney Resources Corporation
Phone: 509-552-9858
dan@sdrccorp.com
Corporate Website: http://sidneyresources.com/
Corporate Linkedin: https://www.linkedin.com/company/sidney-resources-corp/
Corporate Twitter: https://twitter.com/SDRCMINING
Corporate Instagram: https://www.instagram.com/sidney_resources_corp/
About Sidney Resources Corp.
Sidney Resources Corporation is a green technology, clean water and clean refining company that strives to change the way the world develops. Our efforts will provide a cleaner world so our children can express their brilliance to the highest of their potential. Our future lies in our future generations ability to problem solve without the toxins and carcinogens that inhibit development. Sidney is advancing technologies that will implement cleaner methods not only beneficial economically but designed to maintain a sustainable future.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SDRC/disclosure
SOURCE: Sidney Resources Corp.
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