 | | | Published : February 24th, 2009 | Provides Corporate Update |
|
|
Article
|
Comments
|
Comment this article
|
Rating
|
♥
Follow Company
|
|
 |
|
Vancouver, B.C. - February 24, 2009 - Staccato Gold Resources Ltd. (CAT-TSX.V) is pleased to provide a corporate update, including a summary of achievements in 2008, and a review of the Company's outlook for 2009.
To meet Staccato Gold's management team in person, please join us at PDAC 2009:
Staccato will have both a Core Shack Exhibit (Sunday & Monday, March 1-2) and an Investors Exchange Exhibit (Tuesday & Wednesday, March 3-4) at the upcoming Prospectors and Developers Association of Canada Conference, held at the Metro Toronto Convention Centre - South Building.
Staccato met its key objectives during 2008, and the Company remains well positioned to continue to prosper and grow in the future. Significant achievements during 2008 include:
- Strengthening of the management team with new executive and technical appointments
- Completion of a focused exploration program at the Company's flagship South Eureka property
- Continued expansion of the potential of the Lookout Mountain project, with significant exploration results reported from the satellite South Adit area
- Confirmation of the excellent potential of the Windfall project (~4 km northeast of Lookout Mountain): highlight result was 22.9 metres of 5.25 g/t gold, including 1.5 metres of 52.11 g/t gold
- Completed ownership consolidation of exploration properties, including an amendment to the Lookout Mountain project lease, and the release of non-core projects
- Maintained a strong treasury, ending the year with ~$9.5 million cash on hand, and no debt
"The current market conditions do not denote the true value of our Company", stated Grant Ewing, president and chief executive officer of Staccato Gold. "Staccato is led by an experienced and capable management team, and is focused on building shareholder value through exploration and development of its highly prospective gold projects, and by taking advantage of new opportunities for growth. With approximately $9.5 million in its treasury to start the year, Staccato is well financed to accomplish its goals. We look forward to a busy year ahead as we continue to build Staccato as a leading gold exploration and development company."
Staccato's flagship South Eureka property, located in northeast Nevada, USA, is an extensive and highly prospective landholding. The property is comprised of several projects; from early stage projects where historic data indicates the potential for new discoveries, to the advanced stage Lookout Mountain project, where a significant gold resource has been identified (refer to Technical Report and Gold Resource Estimate for the South Eureka District Property, January 15, 2007 filed on SEDAR).
The Company's key goals and objectives for 2009 are:
- Remain focused on conducting results driven well planned exploration programs on the Company's strong portfolio of prospective gold projects
- Grow the Company's existing gold resource base through continued exploration, and through acquisition
- Further develop high potential target areas on the Company's prospective South Eureka property, including the extensive Ratto Ridge structural trend (host to the Lookout Mountain deposit), and the extensive sub parallel trends (i.e. Windfall project).
- Budgeted expenditures are expected to fall in the $1.5 - $3 million range, allowing the Company to conduct significant work programs, and maintain a strong treasury
- Complete an updated NI 43-101 resource estimate for the Lookout Mountain project, and continue to advance the project toward feasibility study status
- Continue to investigate new growth opportunities
This press release was reviewed by Gary Edmondo, M.Sc. Geology, who is Staccato's Senior Exploration Manager, and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
On behalf of the Board of Directors
STACCATO GOLD RESOURCES LTD.
"Grant Ewing"
Grant Ewing, President & CEO, Director
About Staccato Gold Resources Ltd: Staccato Gold is a well funded junior gold exploration company with resources and advanced stage exploration assets located exclusively in Nevada. The Company has assembled a portfolio of prospective gold prospects in the dominant gold trends in Nevada. For further information, please contact Gareth Thomas at 604-682-8789 or visit Staccato's website at www.staccatogold.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. |
|
|
|
|
