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SNEY: Sunergy Advances Due Diligence on Proposed Acquisition of 57sq. km. Full Prospecting Licensed Mining Concession in Ghana, West Africa
Posted on 11 March 2010 by admin
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Sunergy Advances Due Diligence on Proposed Acquisition of 57 sq. km. Full Prospecting Licensed Mining Concession in Ghana, West Africa Today, the Ghana company received its official 2-year full prospecting license which remains in full force and effect until March 10, 2012 and allows for full operation for testing and bulk sampling and production of gold, diamonds and base metals during the operating period. Director, Robert Levich, CPG, EurGeol has also investigated the area geology and has confirmed from his own previous work in the area that the anomalies present on the concession contain stockwork granites known to host gold. He is also very optimistic about the alluvial potential upstream on the Offin river area and the tributaries. As was previously noted in his recent report, 1.45 million ounces of gold have been recovered downstream on the Offin River. Final due diligence is proceeding and the Company expects to finalize this acquisition in the next few weeks. Evidence of past exploration and mining activities in the area exist in the form of pits. There is strong clustering of artisan pits located along the Esuaya River as well as the Offin River. Fragments of phyllite, metagreywacke and quartz are noted in the waste pile. The existence of these pits confirm alluvial gold was discovered and recovered by Artisan miners who usually recover about 30%, leaving the balance to be recovered by modern mechanized methods. An additional benefit of the pits is the overburden has also already been removed. Northwards of the concession is the Fufuo concession belonging to Sika Resources Inc. (A Canadian Junior Exploration Company). To the south is the Owabi water works forest Reserve. Within the district, some 46 miles WNW is the Kenyasi -- Yamfo concessions belonging to Newmont Ghana Gold, where gold production is expected to begin by end of 2006; 60 km SE is the Konongo mine; about 64 km south is the famous AGC Obuasi mine and finally about 75 km SSW is also the AGC Bibiani mines. The strategic location of the concession indicates a high probability of finding a deposit. Karl Baum, President, said: "This acquisition offers immediate additional gold recovery and cash flow opportunities for Sunergy and employs the identical exploration/development methods as our Nyinahin concession. The close location also adds to positive economics because we can utilize the same exploration and operations personnel. This is an initial step in the aggressive and dramatic growth that we intend to provide for our shareholders." About Sunergy: The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 sq. km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Offin River flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Offin River is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations. Further information is available on the Company's website http://www.sunergygold.com/ Notice Regarding Forward-Looking Statements This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Nyinahin Mining Concession and Sunergy's ability to make the required payments to General Metals as they become due. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time to time with the Securities and Exchange Commission. Contact: Overview
Sunergy, Inc. was incorporated in the State of Nevada, USA, on January 28, 2003. It is an exploration stage company, engaged in the acquisition and exploration of mineral properties with a view to exploiting any mineral deposits it's discover that demonstrate economic feasibility. The Company's current operational focus is to conduct exploration activities on its Humming Bird Property and to complete the terms of the acquisition agreement with General Metals Corporation for the acquisition of the Nyinahin Mining Concession. The Company intends to continue exploration on the claim to test the identified mineralized area in the center of the property, and to evaluate the potential of the remainder of the claim area. It intends to complete an additional exploration program on the Hummingbird property consisting of grid establishment over a 15-kilometer area, line cutting, soil sampling and mapping. The Company competes with other mineral resource exploration companies for financing and for the acquisition of new mineral properties. The Company works in compliance with applicable governmental and environmental regulations. The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. They control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through their eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, which leaves 60-70% to be recovered by modern mechanical operations. Further information is available on the Company's website www.sunergygold.com Projects Nyinahin Mining Concession  Effective October 31, 2008, Sunergy completed the acquisition of 100% interest in Mikite Gold Resources ("Mikite"), a Ghanaian corporation with exclusive exploration rights to the Nyinahin Mining Concession near Bibiani, Ghana. The Mineral rights are for gold, diamonds and base metals. The 150 square kilometer Nyinahin mining concession is located between two geological gold belts, the Bibiani Belt to the west and the Asankrangwa to the east. The property shares borders with several major mining companies, including Newmont Mining, Napoli Gold and Dunkwa Continental Goldfields. About 80% of the Nyinahin Concession lies to the west of the Offin River within the Ashanti Region of Ghana. The property is accessed via the main Kumasi-Bibiani trunk road and is located 48km southwest of Kumsasi and 20km northwest of Bibiani. It falls under the jurisdiction of the Atwima Mponua District Assembly with headquarters at Nyinahin. The district is home to the famous Ashanti Goldfields-Obuasi Mines and is one of the most active exploratory areas in the world. A preliminary survey by Geodita Resources LTD, Ghana, indicates that the Nyinahin Concession has significant potential for lode gold mineralization and for recovery of alluvial gold. There are 3 major anomalous zones: Owusbukurom anomaly in the center Ntoboroso anomaly in the southeast and the Krakyekurom anomaly in the southwest. There are 4 known mineralized trends: Baaneekurom-Nyinahin, Ntoboroso, Owusukurom-Adupiri and Krakyekurom-Adupiri. The reconnaissance has also shown several abandoned surface mines that are yet to be investigated due to time and budget constraints of the current owners. Location and Access  About 80% of the Nyinahin Concession lies to the west of the Offin River within the Ashanti Region of Ghana The property is accessed via the main Kumasi-Bibiani trunk road and is located 48km southwest of Kumsasi and 20km northwest of Bibiani. Adequate ground water appears to be available for diversion for future mining operations. Electrical power is supplied by the National Grid and Infrastructure facilities are available within the concession from notable towns which include Nyinahin, Akorabuokurom, Baaneekurom, Nagore and Ntoboroso. Evidence of past exploration and mining activities exist in the form of pits and adits. There is a strong clustering of artisan pits located along the Offin River. Three old gold prospects exist on the concession. The first is located about 2.0 km SE of the village of Akorabuokurom and 3km from the village of Otaakurom, the second 1.8km SW of to the east of the concession, whilst the third is located along the south eastern boundary near the village of Owuokurom. Fragments of phyllite, greywacke and quartz are noted in the spoils of these pits. A systematic exploration program was initiated in July 2005. The work consisted of active stream sediment sampling and geological mapping. Application to the Minerals Commission in Ghana upgraded this 150 sq. km. Nyhinahin mineral concession from a reconnaissance license to a full prospecting license. Contact Information
Sunergy, Inc.,  8711 E. Paraiso Drive Scottsdale, AZ 85255 United States Phone: 602.740.1132 Website: www.sunergygold.com Profiles is a special advertising section presented by Shazamstocks.com. All material listed within http://shazamstocks.com/profiles/index.php ("Profiles") was based upon information supplied by the company or from other sources believed to be reliable. The information contained Profiles is not guaranteed by Profiles to be accurate and should not considered to be all-inclusive. The companies discussed on Profiles except for those companies that appear on the URL http://shazamstocks.com/profiles/index.php have not approved the statements made herein. Any discussions and pages contain forward looking statements that involve risks and uncertainties. A company's actual results could differ materially from those described in any forward - looking statements or announcements discussed on Profiles. SNEY - Sunergy, Inc. -We have been compensated by a third party ONYX Consulting fifty thousand free trading shares of SNEY. We are also contracted to receive an additional fifty thousand shares. We intend to sell all shares. The third party, may have shares and may liquidate it, which may negatively affect the stock price.We have sold 50,000 shares. On 2/8/10 we were compensated another 500,000 sharesWe intend to sell all shares. the third party, may have shares and may liquidate it, which may negatively affect the stock price. .All material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Profiles is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst, or underwriter. Companies profiled at URL http://shazamstocks.com/profiles/index.php are ineligiable for recommendations on URL http://www.shazamstocks.com for 90 days following final disposition of any compensation. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Shazamstocks Inc undertakes no obligation to update such statements. |
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