Suparna Gold Updates Exploration Activities
January 31 2012 - 6:00AM
Marketwired Canada
Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) announces an
update to its planned exploration activities on its Sara Creek Property located
in the Brokopondo and Sipalilwini districts of east central Suriname, South
America. The Sara Creek Property is comprised of two exploration concessions
consisting of 56,920 hectares, located approximately 150 air kilometres south of
Paramaribo, the capital city of Suriname. Paramaribo is the largest city in
Suriname with a population of approximately 250,000 and is located on the banks
of the Suriname River.
Suparna, through its subsidiary Orion Resources N.V., plans to commence diamond
drilling in February 2012. The first target area has been planned for the Boto
Grid within the Gran Creek target area, located within the central part of the
Sara Creek Property. The Company has focused most of the current exploration
efforts within this area, which includes road and drill pad construction, grab
sampling of quartz vein outcropping, auger soil sampling as well as trench and
channel sampling. Drill rigs have been shipped from Canada and are expected to
arrive in Suriname by the end of this week.
The Company has delineated 11 drillholes to investigate a lithological contact
zone (mafic and felsic units) associated with an implied shear zone. The shear
zone is associated with two sets of vein systems (shear and tension veins)
within the mafic unit, both of which may be auriferous. The lithological contact
and associated shear zones are regarded as important areas for gold
mineralisation within Greenstone belts of the Guyana Shield and the setting of
the Boto Grid is regarded as similar to other known gold occurrences within the
area.
The Company's drillholes have been planned to end at a hole length of 150 metres
(180 degree azimuth and a 60 degree dip) and have been planned to intersect both
the shear and tension vein systems. Hole spacing is planned at 200 metres with
50 metres infill drilling where required. Deeper drilling may be warranted, and
holes will be deepened should favourable geology be encountered at depth.
Mr. Nico Scholtz, Pr. Sci. Nat., is the "qualified person" as defined in
National Instrument 43-101, who has reviewed and approved the technical content
in this press release.
Reader Advisory
Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, statements with respect to timing and
completion of the Company's proposed drilling program and exploration
activities. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as those set out
in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors could cause results to differ materially
from those expressed in the forward-looking statements include, but are not
limited to: general economic conditions in Canada, the United States and
globally; industry conditions, including fluctuations in commodity prices;
governmental regulation of the mining industry, including environmental
regulation; geological, technical and drilling problems; unanticipated operating
events; competition for and/or inability to retain drilling rigs and other
services; the availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market volatility;
volatility in market prices for commodities; liabilities inherent in mining
operations; changes in tax laws and incentive programs relating to the mining
industry; and the other factors described in our public filings available at
www.sedar.com. Readers are cautioned that this list of risk factors should not
be construed as exhaustive.
The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.
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