Sacre-Coeur Minerals Ltd.

Published : January 05th, 2009

COMPLETES PRIORITIZATION AND RESTRUCTURING OF ITS GUYANA PROPERTY PORTFOLIO; 1,013 SQ KM IN FIVE REG

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Sacre-Coeur Minerals

Sacre-Coeur Minerals, Ltd.
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8

FOR IMMEDIATE RELEASE

                                                                                                                        TSX:  SCM.V 

January 5, 2008                                                                                                     Frankfort:  S5N

                                                                                                                                                           
SACRE-COEUR COMPLETES PRIORITIZATION AND RESTRUCTURING OF ITS GUYANA PROPERTY PORTFOLIO; 1,013 SQ KM IN FIVE REGIONAL BLOCKS RETAINED

 

VANCOUVER, British Columbia - SACRE-COEUR MINERALS, LTD. (the "Company") today announced that it has completed rationalization of its extensive portfolio of mineral properties in Guyana, South America.  Over the past three years, the Company has conducted field exploration as well as desk-top reconnaissance studies over the prospective areas within its portfolio, which comprised approximately 2,360 sq km in seven regional blocks.  The Company acquired rights to the portfolio under the Mining Agreement dated March 22, 2005, as amended, with Mr. Alfro Alfonso, which remains in effect.    

 

Based on the exploration programs of the past three years, the Company has prioritized its holdings which it believes have sufficient resource potential to justify further investigation and development, while at the same time segregating those holdings which it does not believe to have potential to host a commercial deposit. Accordingly, the Company has now relinquished a total of 1,347.62 sq km to hold 1,013.11 sq  km of its most prospective ground.  This 57% reduction in property held results in a savings to the Company of US $308,557 at applicable annual rentals for 2009.

 

The remaining properties are held in five regional blocks (down from seven in the original portfolio).  Two of the Company's seven regional blocks, the Oko and Mahdia-Issano blocks, have been dropped in view of management's assessment of their limited potential and in some cases difficult access, infrastructure or environmental issues.  The breakdown of current holdings in each of these key remaining regional blocks is as follows:

 

District / Project

Area

Puruni District

 

   Lower Puruni Regional Block (incl Million Mtn)

 

   Kartuni Regional Block

 

Puruni District Total

511.97 Sq Km

 

 

Potaro District

 

   Kurupung Regional Block

 

   Potaro-Kuribrong Regional Block

 

Potaro District Total

52.13 Sq Km

 

 

Northwest District

 

   White Creek

 

   Wallabaka

 

   18 Mi

 

   19 Mi

 

   Manari

 

   PL

 

Northwest District Total

449.01 Sq Km

Grand Total

1,013.11 Sq Km

 

According to Irwin Olian, CEO of the Company, "The current property reductions reflect the extensive

work done by our outstanding exploratory team in Guyana over the past three years, overseen by Gregory B. Sparks, P.Eng., Senior V.P.  We have successfully identified those areas within our portfolio meriting further work and expenditure of funds, while dropping areas with only limited potential.  The result is a more streamlined property portfolio which will enable us to focus now on our priority targets while economizing on our costs. Our current 1,013 sq km portfolio contains all of the significant targets we have identified in the five regional blocks we now deem to have the greatest potential and represents a significant opportunity for us to create shareholder value. Future work will focus on drilling and development within our portfolio, as opposed to grassroots exploration which previously took up much of our attention. We remain particularly excited about the Million Mountain Gold Project in the Lower Puruni Region, and now have two Diamond drills on site recommencing drilling activities after the Holiday break."

 

About Sacre-Coeur

 

The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 1000 square kilometers of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana.  More information about the Company is available at <www.scminerals.com>.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.

 "Irwin Olian"
Irwin Olian, CEO and Chairman

For further information, contact:

 

Irwin Olian, President and CEO

Email: tigertail@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

Scott Young, Corporate Communications

Email:  scott@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

 

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.  The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties.  Actual events or results may differ from the Co

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Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Sacre-Coeur Minerals Ltd.

EXPLORATION STAGE
CODE : SCM.V
CUSIP : 786178
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Sacre-Coeur Min. is a gold exploration company based in Canada.

Sacre-Coeur Min. holds various exploration projects in Guyana.

Its main exploration properties are MILLION MOUNTAIN, NORTHWEST GOLD, KARTUNI and NORTHWEST REGIONAL BLOCK in Guyana.

Sacre-Coeur Min. is listed in Canada and in Germany. Its market capitalisation is CA$ 994 050 as of today (US$ 830 827, € 701 218).

Its stock quote reached its highest recent level on April 27, 2007 at CA$ 3.60, and its lowest recent point on August 15, 2014 at CA$ 0.01.

Sacre-Coeur Min. has 66 269 996 shares outstanding.

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Financings of Sacre-Coeur Minerals Ltd.
9/19/2013REPORTS NEGOTIATION OF US $10 MILLION FINANCING
3/15/2011 Closes $2.575 Million Private Placement
2/17/2011Announces Private Placement
4/28/2010closes $1,225 million private placement
4/13/2010Announces private placement
8/30/2008CLOSES $1.550 MILLION PRIVATE PLACEMENT
8/29/2008ANNOUNCES ADDITIONAL PRIVATE PLACEMENT
8/15/2008CLOSES FURTHER $4.125 MILLION PRIVATE PLACEMENT; GUYANA PROG...
8/6/2008 ANNOUNCES PRIVATE PLACEMENT
8/9/2008CLOSES $3.625 MILLION PRIVATE PLACEMENT
Option Grants of Sacre-Coeur Minerals Ltd.
1/28/2009GRANTS STOCK OPTIONS
Nominations of Sacre-Coeur Minerals Ltd.
1/18/2012ANNOUNCES APPOINTMENT OF MR. JOHN BOOTH AS DIRECTOR, AND ELE...
Project news of Sacre-Coeur Minerals Ltd.
7/29/2013Prime Equity Research - Buy Target $0.64 (CA: SCM.v or US:...
6/20/2013REPORTS RESULTS FROM GUYANA METALLURGICAL TEST HOLES: LENGTH...
10/16/2012ANNOUNCES TWELVE WEEK ELLUVIAL/ALLUVIAL GOLD PRODUCTION FIG...
8/1/2012(Million Mountain)ARRANGES EQUIPMENT SALE TO RIVERSIDE RESOURCES: AIMS AT DEV...
3/23/2011(Million Mountain)Drill Testing Targets for Expansion of Million Mountain Zone...
1/5/2009(Kartuni)COMPLETES PRIORITIZATION AND RESTRUCTURING OF ITS GUYANA PRO...
12/12/2008(Million Mountain)DISCOVERS PORPHYRY-TYPE AU, CU, MO MINERALIZATION AT MILLION...
11/12/2008(Northwest Regional Block)COMPLETES INITIAL ASSESSMENT OF ITS GUYANA EXPLORATION PORTF...
7/14/2008(Northwest Regional Block)COMMENCES DRILLING KEY TARGETS AT NORTHWEST GOLD PROJECT
2/26/2008(Northwest Regional Block)NEW TRENCH AND PIT DATA EXPANDS HIGH-GRADE ZONE AT SACRE-COE...
Corporate news of Sacre-Coeur Minerals Ltd.
8/26/2013Event Driven Trading Opportunity in Sacre-Coeur Minerals as ...
5/17/2013Article on Sacre-Coeur Minerals written by ProactiveInvestor...
5/6/2013Article on Sacre-Coeur Minerals (TSX-V: SCM, US-OTC: SCRMF)
3/29/2013March News (TSX-V: SCM - OTC: SCRMF)
3/14/2013targets $40mln a year cash flow (TSX-V: SCM, market cap $12...
2/7/2013ENGAGES DEDICATED INVESTOR RELATIONS COORDINATOR
10/5/2012CLOSES FIRST TRANCHE OF BROKERED OFFERING
2/6/2012ANNOUNCES ARRANGEMENT OF $650,000 CREDIT FACILITY
12/15/2011ANNOUNCES FORMATION OF CONTRACT DRILLING DIVISION
6/2/2011JOIN SACRE - COEUR MINERALS AT THE 2011 WORLD RESOURCE INVES...
2/1/2011Grants Severstal Two Week Extension
1/23/2009ENGAGES SCOTT YOUNG FOR INVESTOR RELATIONS TEAM
1/15/2009SHALLOW PROSPECT DRILLING AT SACRE-COEUR?S NORTHWEST DISTRIC...
7/7/2008ADDS SEVEN NEW TARGET ZONES AT MILLION MOUNTAIN ? DRILLING U...
11/19/2007FORMAL AGREEMENT CONCLUDED FOR TRANSFER OF MILLION MOUNTAIN ...
5/23/2007RECEIVES $1.8 MILLION FROM RECENT WARRANT EXERCISES
5/14/2007250 METER STEPOUT TO SOUTH YIELDS BROAD LOW GRADE ZONE; INTE...
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