(via TheNewswire)
- Permits in-place for core drilling, drill pad preparation and road work
- Drill pad preparation and road work to start imminently
- Approximately 914 metres (3,000 feet) of core drilling expected to start in mid-May
- Core drill program is intended to confirm historical gold mineralization outlined by a fan of Reverse Circulation (RC) drill holes completed by
Cabot Resources Corp. in 1990, including:
------------------------------------------------------------------------- |RC Hole | Intercept* | Intercept* | | | | | |-----------------------------------------------------------------------| | |(metres of grams |(feet of oz gold/ton) | | |gold/tonne) | | | | | | |-----------------------------------------------------------------------| |RC90 CEG-1 |3.05 m of 7.58 g Au/t |10.0 ft of 0.22 oz Au/ton | |-----------------------------------------------------------------------| |RC90 CEG-2 |4.57 m of 10.30 g Au/t |15.0 ft of 0.30 | | | |oz Au/ton | | | | | |-----------------------------------------------------------------------| |RC90 CEG-3 |3.05 m of 3.77 g Au/t |10.0 ft of 0.11 oz Au/ton | |-----------------------------------------------------------------------| |RC90 CEG-4 |1.52 m of 1.71 g Au/t | 5.0 ft of 0.05 oz Au/ton| |-----------------------------------------------------------------------| |RC90 |3.05 m * of 8.57 g Au/t |10.0 ft of 0.25 oz Au/ton | |CEG-5 | | | | | | | -------------------------------------------------------------------------
*drill intercept length - true thickness unknown
- Drill program is expected to be completed in approximately four weeks.
- Southern Empire is well financed having recently completed an oversubscribed
$3.27-million financing (see Southern Empire's news release ofMarch 18, 2020 )
About the
Southern Empire's goal is to define a high-grade gold/silver deposit at Eastgate hosted by multiple, steeply dipping, subparallel low-sulphidation, quartz-adularia epithermal vein systems occurring throughout the property. Small scale, narrow-vein production occurred, between 1908 to 1920 and 1935 to 1957, at the Double Eagle and Gold Ledge mines on the property. Eastgate is located roughly 24 km (15 miles) northeast of the
For the
Qualified Person
The scientific and technical information contained in this news release has been prepared, reviewed and approved by
Work Programs During the COVID-19 Pandemic
Having recently completed an oversubscribed, non-brokered private placement financing for gross proceeds of
About
Southern Empire is focused on the acquisition, exploration and development of gold deposits in the American southwest. In addition to the
Extensive historical drilling of the Oro Cruz Property has outlined exploration targets over an existing high-grade gold zone as well as nearby satellite deposits. Based on historical mining, Oro Cruz oxide gold mineralization is amenable to conventional heap leach extractive methods.
Episodic gold mining between 1877 and 1941 in the Cargo Muchacho gold district, which included in order of importance, the Oro Cruz (Tumco), American Girl,
On behalf of the Board of Directors,
For further information please visit our websitewww.smp.goldor contact:
Cautionary Notice on Forward-Looking Information
Information set forth in this news release may contain forward-looking statements that are based on assumptions as of the date of this news release. All statements, other than statements of historical fact, that address activities, events or developments that Southern Empire expects or anticipates will or may occur in the future are forward-looking statements that reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Southern Empire cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Southern Empire's control. Such factors include, among other things: risks and uncertainties relating to Southern Empire's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Southern Empire undertakes no obligation to publicly update or revise forward-looking information or statements .
Neither the
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