Sienna Gold Inc. ("Sienna" or the "Company") (TSX VENTURE:SGP)(LMA:SGP) is
pleased to announce the latest results from new drill holes at Callanquitas, on
the Igor project, La Libertad, Peru. The two holes totalled 512 meters (m).


Drill Hole Results

The results are from Holes CA-12-41 and CA-12-42. Both holes cut several
mineralized structures.


The best results from Hole CA-12-41 were 1.4 m at 9.7 g/t gold and 1864.1 g/t
silver. This intercept is part of a longer high grade interval, 5.4 m at 3.4
grams/tonne (g/t) gold and 520.5 g/t silver, within an overall 11.1 m at 1.9 g/t
gold and 272.8 g/t silver.


Drill hole CA-12-42 also returned excellent results with two significant high
grade zones within a broad mineralized interval: 3.6 m at 2.0 g/t gold and 38.4
g/t silver and 6.5 m at 5.5 g/t gold and 21.1 g/t silver within a 41.5 m
interval at 1.3 g/t gold and 8.1 g/t silver. Full results are given in the table
below.


Drill hole CA-12-41 is from the East - West section N4281 while Hole CA-12-42 is
from the oblique section NW4750. A map showing the locations of these holes is
presented below as is Section N4281. Further maps and cross sections are
available on the Sienna Gold website.


Map of Collars and Drill Hole Traces and Section N4281:
http://media3.marketwire.com/docs/626sgp_map1.jpg


The Callanquitas Structure

Dr. Owen Miller, Exploration Manager of Sienna Gold, comments, "These latest
drill holes continue the excellent results from the Callanquitas drill program.


The mineralization on Section N4281 is present over a vertical interval of 270 m
and is open at depth. 


It is of particular interest as this is the second time we have intercepted very
high grade gold and silver mineralization at the southern end of the
Callanquitas structure. Hole CA-12-21 located on section N4233, some 50 m to the
south, also returned high grade gold and silver values (See press release dated
28 February, 2012). 


Due to the success of the Callanquitas drilling the original 10,000 m program
for Callanquitas has been extended to between 13,000 and 14,000 m. 


The objective is still to define the first inferred resource for Callanquitas
before the end of the year."


Assay results for drill holes CA-12-41 to CA-12-42.



----------------------------------------------------------------------------
  Drill Hole     From         To      Interval(2)    Weighted Averages(1)   
----------------------------------------------------------------------------
                  (m)         (m)         (m)       Gold (g/t)    Ag (g/t)  
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
   CA-12-41      7.90        20.80       12.90         0.5          21.6    
----------------------------------------------------------------------------
  including      11.50       14.40        2.90         1.8          57.7    
----------------------------------------------------------------------------
   CA-12-41     118.00      130.00       12.00         0.2          32.0    
----------------------------------------------------------------------------
   CA-12-41     162.90      174.00       11.10         1.9         272.8    
----------------------------------------------------------------------------
  including     164.20      169.60        5.40         3.4         520.5    
----------------------------------------------------------------------------
  including     168.20      169.60        1.40         9.7         1864.4   
----------------------------------------------------------------------------
   CA-12-41     227.70      236.00        8.30         1.2          20.8    
----------------------------------------------------------------------------
  including     230.20      232.15        1.95         4.0          59.8    
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
   CA-12-42     100.00      100.60        0.60         2.6           15     
----------------------------------------------------------------------------
   CA-12-42     148.00      189.50      41.50(3)       1.3          8.1     
----------------------------------------------------------------------------
  including     157.40      157.90        0.50         2.0          8.6     
----------------------------------------------------------------------------
  including     165.40      169.00        3.60         2.0          38.4    
----------------------------------------------------------------------------
  including     175.70      182.20        6.50         5.5          21.1    
----------------------------------------------------------------------------
  including     178.90      180.80        1.90         12.5         10.9    
----------------------------------------------------------------------------



(1)It should be noted that these are all angled holes and downhole intervals do
not necessarily reflect the true width of the mineralized structure.


(2) Weighted averages were calculated for continuously mineralized intervals
using a bottom cut on 0.1 - 0.2 g/t gold, no top cut and minimum internal waste.



(3) This interval contains a 1.7 m zone of no recovery.

A full list of drill holes and significant intercepts is available on the
website: www.siennagold.com.


Exploration Update

Two rigs continue on site: one large tracked rig and a man portable rig. A total
of 11,500 m has been drilled to date. As mentioned above the current campaign
will now be at least 13,000-14,000 m for Callanquitas. 


A new NI 43-101 resource calculation is planned for late 2012.

Rehabilitation of access roads and initial mapping and sampling has started at
Domo and Tesoro. Drilling is scheduled for later in the year.


Sampling Methodology

Cores taken from the diamond drill rig are stored in plastic core boxes and
transported to the camp for detailed logging. Afterwards, the core is cut on
site with a diamond saw.


One half is then sent to an accredited laboratory in various sample lengths.
William R. Henkle (PGeol), the Company's independent Qualified Person, completed
a chain of custody review to ensure the integrity of all sample data.


Assaying Methodology

The samples are analysed by SGS Laboratories in Lima by inductively coupled
plasma atomic emission spectroscopy for silver and 37 other elements (included
Hg and Te) and a 30 gram fire assay technique for gold. Samples above detection
limits are re-assayed using a gravimetric fire assay. The specific lab
procedures can be found in the Company's 43-101 report on the Igor property.


This press release was reviewed and approved by William R. Henkle P.Geol who is
a "Qualified Person" according to National Instrument 43-101.


Financing 

On Friday June 22, 2012 the Company closed the first tranche of the private
placement announced on June 5, 2012 in the amount of $2,011,299.65 US. The
Company paid a 7% commission in cash and broker warrants to qualified investment
dealers. These funds will be utilized for continued exploration on Callanquitas,
and general working capital. Securities issued on this closing carry trading
restrictions until October 23, 2012.


Sienna Gold Inc. is a gold exploration company with property interests in Peru.
Its key prospect is the Igor Mine Project, a formerly producing mine that the
Corporation plans to explore further.


If you wish any further information, please feel free to contact John Rucci at
any of the contact points noted above.


John M. Rucci, President

WARNING: the Company relies upon litigation protection for "forward looking"
statements. The information in this release may contain forward-looking
information under applicable securities laws. This forward-looking information
is subject to known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those implied by the
forward-looking information. Factors that may cause actual results to vary
materially include, but are not limited to, inaccurate assumptions concerning
the exploration for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or
regulations, the risks of obtaining necessary licenses and permits, changes in
general economic conditions or conditions in the financial markets and the
inability to raise additional financing. Readers are cautioned not to place
undue reliance on this forward-looking information. The Company does not assume
the obligation to revise or update this forward-looking information after the
date of this release or to revise such information to reflect the occurrence of
future unanticipated events, except as may be required under applicable
securities laws.


Peruvian Precious Metals Corporation (TSXV:SGP)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024 Peruvian Precious Metals Corporation 차트를 더 보려면 여기를 클릭.
Peruvian Precious Metals Corporation (TSXV:SGP)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024 Peruvian Precious Metals Corporation 차트를 더 보려면 여기를 클릭.