SUG Sucro Limited

Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) is pleased to
announce that 2,388 metres of its planned 5,000 metre diamond drill program has
been completed on its Sara Creek Property located in the highly prospective
Guiana Shield in Suriname, South America which hosts Iamgold Corporation's
Rosebel mine and Newmont Mining Corporation's Nassau deposit. 


Due to the onset of the rainy season, and having reached this half-way point in
the program, drilling has been put on short-term hold. This pause in drilling
will allow Suparna to complete various field programs (sampling, geological
mapping and ground geophysics), database updates, completion of assaying of all
drill core, infrastructure improvements and restocking of drilling supplies.
Drilling will recommence as weather permits, expected to be in September 2012.


At the outset of the drilling program, the in-country lab was selected for assay
analysis based on slightly lower cost and promised shorter turnaround time.
However, it became apparent that the selected lab was difficult to work with,
constantly insisting that the Company pay bills owed by an unrelated company
prior to completing the assay analysis. Despite working for weeks to resolve
matters with the in-country lab, no progress was made and the Company made the
decision to move all assay work to Filab Suriname. In order to ensure
consistency of reporting, the decision was also made to re-assay all of the
early holes in the drilling program. This is currently being done and the
results will be included in the Company's future reporting.


To date, fifteen of sixteen diamond drill holes have been geologically and
geotechnically logged. Drill core sampling continues with three holes left to be
cut and sent to the lab. Diamond drill core samples are taken every 1.5 metres
and sample width is reduced where mineralization is expected. Implemented QA/QC
procedures for sample assays includes the insertion of standards every 30
samples as well as the insertion of blanks before and after each potentially
mineralized zone.


Drill core samples are being sent to Filab Suriname. Reporting of all assays
related to the first half of the drilling program will be done once fully
reviewed and verified by the Company's "qualified person" and geologists working
on the project. 


Lithologies intercepted during the drill program include granite and
intermediate intrusives within mafic to felsic volcanics. Mineralization noted
includes disseminated pyrite (an important indicator mineral within Greenstone
Belts of the Guiana Shield) and quartz veining of variable widths.


The geological interpretation from the diamond drill holes, additional ground
mapping and sampling, detailed High Resolution Airborne geophysics and planned
Induced Polarization (IP) surveys are all being compiled into a master database
over the next few months, to assist in optimizing the completion of the diamond
drill program. Suparna has identified a geophysical contractor based in Canada
to complete an IP survey over target areas generated by the interpretation of a
Fixed Wing High Resolution Aeromagnetic Gradiometer, Radiometric & VLF/EM Survey
that was previously completed over the property. IP surveys have been used
successfully in the Guiana Shield to detect disseminated pyrite, potentially
associated with gold mineralization. The IP survey data will be used in
combination with soil auger, channel and grab surface sample results and will
assist Suparna in delineating drill targets for the remainder of the diamond
drill program. This interpretation work is expected to commence in July 2012.


Camp construction has now been completed, including the upgrading of the core
shack to allow for the geologists to work efficiently onsite. While road
maintenance is an ongoing requirement due to weather, all road upgrades, which
allow for ease of movement between target areas, are expected to be completed
this week.


The Company's community relations program, commenced eight months ago, calls for
the Company to provide 2-4 barrels of fuel per month to the residents of the
local village of Lebidoti as well as two nearby villages. Discussions are also
underway to assist with water supply upgrades in the village as well as helping
to coordinate an end of school festival. 


About Suparna Gold Corp 

Suparna is an exploration company with its flagship Sara Creek Property located
in the highly prospective Guiana Shield in Suriname, South America which hosts
Iamgold Corporation's Rosebel mine and Newmont Mining Corporation's Nassau
deposit. The Sara Creek project has a large property position in the Guiana
Shield covering 56,920 hectares, and is located approximately 150 air kilometres
to the south of Paramaribo, the capital city of Suriname. 


Mr. Garry Clark, P.Geo., 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 the Company's
proposed drilling program, assaying work and other proposed 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.

Sucro (TSXV:SUG)
Historical Stock Chart
From Dec 2024 to Jan 2025

Sucro (TSXV:SUG)
Historical Stock Chart
From Jan 2024 to Jan 2025