SearchGold Provides 2012 Exploration Update
18 9월 2012 - 11:51AM
PR Newswire (Canada)
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TORONTO, Sept. 17, 2012 /CNW/ - SearchGold Resources Inc.
("SearchGold") today announced an update regarding its 2012 work
programs in Guinea and Burkina Faso. SearchGold is also
pleased to report the issuance of its first invoice relating to its
Net Smelter Return in Gabon. MANDIANA GOLD PROJECT, Guinea 2012
work program: In April - July 2012 a trench sampling program was
implemented by SearchGold on two targets: Fadaninda and
Kodiérani-Stockwerk (N'Diambaye). The results of this program are
pending. The Company's Mandiana exploration licenses are currently
in their second renewal stage and are valid only until Q3-2012. In
accordance with the Mining Code of Guinea, SearchGold has applied
for a one year extension to prepare and submit the required
documentation to convert selected portions of the property into
exploitation licenses. There is no assurance that the company will
be granted such extension or, if granted, that the company will be
able to maintain the licenses beyond the extension period.
SearchGold will evaluate all opportunities, including joint venture
opportunities, in order to capitalize on the exploration potential
of the Mandiana Project. GUEGUERE GOLD PROJECT, Burkina Faso, 2012
Work program: During the months of April and May 2012, Concordia
Resources Inc., SearchGold's JV partner, performed an exploration
program composed of stream sediment, soil and grab sampling and
trenching. SearchGold is awaiting the release of results from its
JV Partner. BAKOUDOU - MAGNIMA, Gabon SearchGold reports that it
has issued its first invoice, in the amount of approximately
US$79,000, relating to its Net Smelter Return in the Bakoudou mine
in Gabon as the Company received notification from the operator of
the first precious metal sales during Q2, 2012. The Bakoudou mine
began initial operations in Q1, 2012 and is currently in a
commissioning phase. SearchGold has not as yet received payment of
this invoice. About SearchGold Resources SearchGold is a
Canadian-based mining exploration company whose primary mission is
to target, explore and advance gold properties of merit. The
Company currently has mineral Interests in Guinea, Burkina Faso and
Gabon. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Except for statements of historical fact
contained herein, the information in this press release may
constitute "forward-looking information" within the meaning of
Canadian securities law. Such statements include, but are not
limited to, statements concerning the Plan. Forward-looking
statements are frequently identified by such words as "may",
"will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results. There can be
no assurance that such statements will prove accurate. Results and
future events could differ materially from those anticipated in
such statements. Readers of this press release are cautioned not to
place undue reliance on these "forward-looking statements". Except
as otherwise required by applicable securities statutes or
regulation, SearchGold expressly disclaims any intent or obligation
to update publicly forward-looking information, whether as a result
of new information, future events or otherwise. SearchGold
Resources Inc. CONTACT: SearchGold Resources Inc.Stanley
RobinsonPresident and Chief Financial Officer(647)
344-4222stan.robinson@ca.inter.netwww.searchgold.ca
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