Sidney Resources Corporation Releases Operations Plan Update
12 Mai 2015 - 9:28PM
InvestorsHub NewsWire
LEWISTON, Idaho, May 12, 2015 -- Sidney
Resources Corporation (SDRC) (OTCPK:SDRC) today announced it has
posted operational plans for the 2015 summer operations on OTC
Markets in the regular quarterly disclosure report and on the
corporate website located at www.sidneyresourcescorporation.com.
A summary of the update includes the following:
Permit applications have been submitted to the
U.S. Forest Service McCall Ranger District located in McCall,
Idaho requesting the issuance of a special use
authorization for use of what is commonly known as Knot Hole Mine
Road and Arlise Gulch Road to access private property on the
Patented Claim of the Lucky Ben, Lucky Ben Extension and Hornet in
the vicinity of Steamboat Creek and Arlise Gulch near Warren, Idaho
(T22N R6E, Section 9, 15, 16). This application requests use
of approximately .37 miles of the Knot Hole Mine Road south from
Forest Road 21 continuing approximately .92 miles south and east on
Arlise Gulch Road to access the Lucky Ben and Lucky Ben
Extension. From the old cabin site located on Arlise Gulch
Road we are requesting use of approximately .45 miles of road to
the Hornet Patented Claim Property. The purpose of the use of
the mentioned road systems is to access private property for the
purpose of conducting exploration and sampling of the claims for
valuable mineral deposits to determine the economic feasibility of
a core drilling program. Work conducted will include small
and bulk samples of the existing underground structures, surface
samples and the historical dumps located on the private
properties. Surveying of the claims and mapping of the
underground structures will also be conducted throughout the Lucky
Ben Mine Group Properties. A site assessment is scheduled
with US Forest Service Personnel in June of 2015.
The Warren Wagon Road which is the primary
access road to the mine properties historically opens on Memorial
Weekend and at the time of this writing the Secesh Summit Idaho
SNOTEL site which is located at an elevation of 6520 feet reports
no snow. Secesh Summit is the highest road summit between
McCall, Idaho and the mine properties. Long term weather
forecasts for the region are favorable for road access in early
June.
Sidney Resources Corporation has named Richard
W. Morris of Spokane, Washington as the Project Geologist.
Mr. Morris has a B.S. Degree and a Master’s Degree in Geology from
the University of Texas El Paso. He has extensive field, and
project experience in the mining industry in production,
exploration and field jobs at both surface and underground
operations. He has extensive experience in core-logging,
mapping both surface and underground, sampling, “rig sitting” on
drill operations at both surface & underground mines on core
& R.C. drills, setting up and running drill programs, and ore
control work.
The project objectives for this season are to
obtain and assay bulk samples from the historical dump located near
the original Adit. Complete a full sampling and mapping
program of the private patented claims to include sampling and
mapping of the existing underground structures which include
approximately 1000 feet of tunnel, stoops and shafts. The
underground structures remain from the original mining operation
period beginning with exploration work from 1901 to 1911 and
production from 1912 to 1915 and a single production year in
1921. Production rates for each year of production as
reported to the State of Idaho and recorded in historical
production records which are attached are as
follows:
1912
Tons of Ore Processed: 13
Ounces of Gold Recovered: 13 Ounces of Silver Recovered:
6
Average Ounces of Gold per ton: 1 oz. per
ton.
Average Ounces of Silver per ton: .461 oz.
per ton.
1913
Tons of Ore Processed: 100
Ounces of Gold Recovered: 115.27 Ounces of Silver Recovered:
183
Average Ounces of Gold per ton: 1.153 oz.
per ton.
Average Ounces of Silver per ton: 1.83 oz.
per ton.
1914
Tons of Ore Processed: 12
Ounces of Gold Recovered: 11 Ounces of Silver Recovered:
5
Average Ounces of Gold per ton: .917 oz.
per ton.
Average Ounces of Silver per ton: .417 oz.
per ton.
1915
Tons of Ore Processed: 5
Ounces of Gold Recovered: 3 Ounces of Silver Recovered:
7
Average Ounces of Gold per ton: .600 oz.
per ton.
Average Ounces of Silver per ton: 1.4 oz.
per ton.
1921
Tons of Ore Processed: 5
Ounces of Gold Recovered: 6.59 Ounces of Silver Recovered:
4
Average Ounces of Gold per ton: 1.318 oz.
per ton.
Average Ounces of Silver per ton: .800 oz.
per ton.
The Lucky Ben Mine was originally explored and
developed by J.A. Czizek. Mr. Czizek was the Managing
Director for the Unity Gold Mine Company which operated the Unity
Mine in Warren. He was Mining Engineer and served as the Mine
Inspector for the State of Idaho. In a June 1902 edition of
the Idaho Statesman Newspaper Mr. Czizek discussed the Warren Mine
District and indicated the Lucky Ben and the Hornet were choice
properties. In a transcribed interview with J.A. Czizek Jr.
that took place on October 23, 1979, Czizek Jr. described the
mining operations which he took part in at the Lucky Ben. He
described the rich ore they had encountered when they began to
drive a shaft downward following the vein. He indicated they
were in rich ore but encountered water so they stopped with the
plan to drive a new tunnel below the existing tunnel. During
exploration activities scheduled for this June, the shaft which was
only at a depth of 20 feet will be pumped out and bulk samples of
ore will be taken for assay. Should the samples show it to be
economically feasible our goal will be to take the necessary steps
to begin production at this point in the underground structures and
continue to follow the vein system at a rate of 20 to 30 tons of
ore per day.
An additional goal for the company is to recover
the ore located in the historical dump this summer should it prove
economically feasible. The dump is estimated to contain 2000
tons of ore and these estimates are based upon the size and
distance of the underground structures currently in existence on
the property. In 1984 Goldstone Minerals Resource Corporation
at the direction of the Leland’s completed sampling and assays of
the dumps. In the report completed by Goldstone which is
currently available on Sidney Resources Corporation website it
states, “Sampling of vein material in the trenches and portal dump
gave assay values ranging from 0.20 to 10.4 ounces per ton for
silver and 0.10 to 13.5 ounces per ton for gold”. Sidney
Resources Management is currently discussing the lease of a Falcon
20 ore processing plant located at Warren, Idaho and those
discussions are ongoing. Work continues with the mining group
regarding the processing plant as well as with state and federal
regulatory agencies to utilize the processing plant to process the
historical dumps and ore once the mine is in production.
Recovery and shipping of the ore in the historical dumps should
assay reports justify that action may be delayed until the summer
of 2016 in order to obtain the required special use permit from the
U.S. Forest Service for hauling of ore on the existing road system
and for the construction of the new access
road.
Stock piling of ore is an option should the road
permit for hauling be delayed and the Board of Directors is
currently in discussion with a private party regarding the use of
his milling and processing equipment on site for the recovery of
the historical dumps. Negotiations are underway with two
major holders of Private Patented and Unpatented claims in the
Warren Mine District that would bring these major holdings which
have been historically valuable properties under the control of
Sidney Resources Corporation.
The Board of Directors is focused on the
completion of essential road access and permits as well as the
completion of an NI 43-101. The NI 43-101 is a mineral
resource classification scheme used for the public disclosure of
information relating to mineral properties. It serves as a
codified set of rules and guideline for public companies to
disclose scientific and technical information related to mineral
properties owned or explored by the companies that report these
results.
The Board of Directors remains acutely aware of
additional opportunities to acquire additional claims relative to
our current property position and is moving forward with plans to
expand current property and mining claim holdings.
Negotiations are underway with a private party regarding placer
claim holdings in Canada as potential future development
properties.
Activities at the mine property scheduled to
commence in June will be documented in photographs and video and
will be made available on the website.
The Corporate website which was significantly
enhanced this quarter is located at www.sidneyresourcescorporation.com
Safe Harbor Forward-Looking
Statements
To the extent that statements in the above
information are not strictly historical, including statements as to
revenue projections, business strategy, outlook, objectives, future
milestones, plans, intentions, goals, future financial conditions,
future collaboration agreements, the success of the Company's
development, events conditioned on stockholder or other approval,
or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements
made.
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