Siga Resources (SGAE) Joint Venture on Lucky Thirteen Gold Project with Big Rock Resources Ltd
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I’m Christina Collins with CRWE Newswire — Today’s company highlight is Siga Resources Incorporated trading with the symbol SGAE –Siga Resources Incorporated is a mineral resource exploration and development company — Siga’s strategy targets properties that have the potential for near term production and early positive cash flow –The company’s general geographical interest is North and South America –The Lucky Thirteen Placer claim is 168 Hectares -415 acres- in size– The claim is located on the Union gravel bar on the north bank of the Fraser River– The claim lies adjacent to both the Trans-Canada Highway and the Canadian Pacific Rail line, making access easy and very low cost– Main power lines also traverse the area–Siga Resources has recently come to an agreement with Big Rock Resources Limited whereby the two companies will develop the Lucky Thirteen gold placer under a 50/50 joint venture–The partners will operate Lucky Thirteen under a Joint Venture company, Lucky 13 Mining Company Limited, owned 50/50 by Siga and Big Rock–The initial targeted area covers an approximately 50 Hectares (124 acres) portion of the entire placer claim–A 2007 report by T. Sadlier Brown and P. Geo performed a complete review, analysis and organization of all available historic records from government files, previous owners and operators–The potential of the Union Bar was summarized- The gross sand and gravel resource was estimated to contain approx 12 million cubic yards. While all of the gravel resource may not contain economic values in precious metals, Brown reported that the more recently documented sampling programs in the tested area of the gravel bar estimated approximately 250,000 oz of gold and an undetermined but possibly significant amount of platinum group metals contained in approx 4 million cubic yards of sands and gravels–This estimate shows a potential gold-only value of approximately .06 oz per cubic yard, or a gross value of about $75 per cubic yard at prices of $1200 per ounce– Gold prices recently have risen to $1400-1500 per ounce –For more information about Siga Resources Incorporated, symbol SGAE, visit www.sigaresourcesinc.com. I’m Christina Collins with CRWE Newswire
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