VANCOUVER, BC, Oct. 22, 2020 /CNW/ - Southern Empire Resources
Corp. (Southern Empire) (TSXV:
SMP) (Frankfurt: 5RE) announces
that it is extending the coverage of recently initiated
helicopter-borne magnetic and radiometric geophysical surveys of
its Oro Cruz Gold Project area, the first of their kind in the
Cargo Muchacho Mountains region of southeastern California.
David Tupper, Southern Empire's Vice President -
Exploration, noted:
"Preliminary results from
our new magnetic survey suggest excellent potential for extensions
to known gold-mineralized structures and the possible
identification of new gold targets in the survey area. We have been
so impressed with these that we have extended the survey with an
additional 173 line-kilometres at 200 metre line spacing, expanding
the survey area from 58.5 square kilometres to approximately 96.3
square kilometres.
Surprisingly, the Oro Cruz
property specifically, and the Cargo Muchacho Mountains generally,
have not been subjected to a large scale airborne magnetic survey
before. Past geophysical surveys were limited to a single, small
ground magnetic grid in the American Girl mine area during the late
1980s."
The revised north-south grid survey layout now totals 1,131.5
line-kilometres, including 677 line-kilometres at a 50 metre line
spacing; 163 line-kilometres at a 150 metre line spacing; 189
line-kilometres at 200 metres line spacing; and 102.5
line-kilometres of east-west tie lines.
The airborne geophysical survey is being completed by Precision
GeoSurveys Inc. of Langley, British
Columbia. Survey oversight, compilation and interpretation
is being provided by Condor Consulting, Inc. of Lakewood Colorado.
Qualified Person
The scientific and technical information contained in this news
release has been prepared, reviewed, verified and approved by
David Tupper, P.Geo. (British Columbia), Southern Empire's VP Exploration and a
Qualified Person (QP) within the context of Canadian Securities
Administrators' National Instrument 43-101; Standards of
Disclosure for Mineral Projects.
About Southern Empire Resources Corp.
Southern Empire is focused on
the acquisition, exploration and development of gold deposits in
North America.
In the Cargo Muchacho mountains of Imperial County, California, Southern Empire owns 100% of the historical
gold producing American Girl Mine property and also holds options
to acquire a 100% interest in the adjacent 2,160 hectare (5,338
acre) Oro Cruz Property located approximately 22.5 kilometres (km;
14 miles) southeast of the operating Mesquite gold mine of Equinox
Gold Corp.
With a history that includes extensive drilling and large-scale
open pit and underground mining by the American Girl Mining Joint
Venture (53 per cent owned by MK Gold Company, then a subsidiary of
Morrison Knudsen Corporation, and 47 per cent owned by Hecla Mining
Company), which was suspended during the gold market downturn in
1996, the Oro Cruz Gold Project hosts many exploration targets in
addition to a high-grade oxide gold zone that, based on the
historical mine operation records, is amenable to conventional heap
leach extractive methods.
Southern Empire is
well-financed, having recently completed two oversubscribed,
non-brokered private placement financings (see Southern Empire's news releases dated
March 18 and June 12, 2020 for details).
With a strong working capital position, which also includes a
significant equity holding in Bullfrog Gold Corp., Southern Empire has the resources to continue
exploration and development programs at Oro Cruz and also consider
new opportunities.
On behalf of the Board of Directors of Southern Empire
Resources Corp.,
Dale Wallster, CEO and
Director
For further information on Southern
Empire please visit both www.smp.gold and
SEDAR or contact: Lubica Keighery, (778)
889-5476, lubica@smp.gold.
Cautionary Notice on Forward-Looking
Information:
Information provided in this news release may contain
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Southern Empire cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond its respective control. Such factors include,
among other things: risks and uncertainties relating to
Southern Empire limited operating
history, the need to comply with environmental and governmental
regulations, results of exploration programs on its projects and
those risks and uncertainties identified in its annual and interim
financial statements and management discussion and analysis.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-looking
information. Except as required under applicable securities
legislation, Southern Empire
undertakes no obligation to publicly update or revise
forward-looking information.
Work programs during the COVID-19 pandemic
Timing of Southern Empire's
exploration programs will be contingent on governmental regulations
regarding the COVID-19 pandemic and also the availability of
exploration-related personnel, drill contractors, equipment,
lodging, et cetera. Southern
Empire will adhere to COVID-19 directives regarding safe
working practices putting worker, community and national safety
first and will proceed with exploration and development work
programs only if potential COVID-19 risks can be effectively
managed.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Southern Empire Resources Corp.
