Sacre-Coeur Minerals Ltd.

Published : June 20th, 2013

REPORTS RESULTS FROM GUYANA METALLURGICAL TEST HOLES: LENGTH WEIGHTED AVERAGE 3.08 g/t Au, INCLUDING

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Keywords :   Canada | Gold | Gold Production | Recovery | Volatility |

 

FOR IMMEDIATE RELEASE                                 

TSXV:  SCM.V

Frankfurt:  S5N

 

 

June 24, 2013                                                                                                 

 

SACRE-COEUR MINERALS REPORTS RESULTS FROM GUYANA METALLURGICAL TEST HOLES: LENGTH WEIGHTED AVERAGE 3.08 g/t Au, INCLUDING 42.8 METERS GRADING 10.56 g/t Au

 

Vancouver, British Columbia ? SACRE-COEUR MINERALS, LTD. (the ?Company?) today announced that it has received from its feasibility contractor, Tetra Tech, assays for core holes drilled into the Company?s  NI 43-101 compliant Million Mountain Zone 1 resource body located in Guyana, South America.  The holes were drilled to collect samples for metallurgical testing in support of the feasibility study which is currently underway.  A total of six HQ core holes were drilled vertically from surface through the saprolitized portion of the resource body to the contact with un-weathered rock below.  The holes were positioned to target a representative range of grades expected from the ?Measured? saprolite resource based on the resource model developed during the NI43-101 compliant resource estimate compiled for the Company by Pincock Allen & Holt.  Results of all of the metallurgical test holes are presented in the table below:

 

Hole Number

From (m)

To (m)

TD/Interval (m)

Grade (g/t Au)

 

 

 

 

 

MMMT001

0.00

45.80

45.80

0.06

MMMT002

0.00

21.80

21.80

2.08

including

0.00

8.00

8.00

2.28

Including

16.00

19.00

3.00

5.92

MMMT003

0.00

42.80

42.80

10.56

including

15.00

29.00

14.00

26.79

Including

35.00

42.80

7.80

8.03

MMMT004

0.00

17.30

17.30

4.42

including

0.00

5.00

5.00

7.49

Including

15.00

17.00

2.00

14.49

MMMT005

0.00

48.80

48.80

0.65

Including

42.00

46.00

4.00

2.67

MMMT006

0.00

21.80

21.80

0.10

 

 

 

 

 

Total/Length Weighted Average All Holes

198.30

3.08


Note:  Intervals in table are not resolved to true widths.  Assays are uncut, though no statistical outliers are believed to exist.

 

 

While the average of the metallurgical test holes cannot be considered representative of the resource body, the results are encouraging as the length weighted average of 3.08 g/t Au is significantly greater than the saprolite hosted portion of the NI 43-101 compliant resource within the conceptual pit considered in the Company?s internal analysis at 1.026 g/t Au.  In particular, the 42.8 meters grading 10.56 g/t Au is considerably higher than predicted by the resource model for this area.  The actual contribution of this new drilling data will be determined when the resource model is updated in conjunction with the feasibility study currently underway.

 

The Company has also received results of scrubbing tests from Met-Solve Laboratories, a feasibility subcontractor, determining the parameters associated with dis-aggregation of the clay minerals in the saprolite as an important element of the process flow sheet.  ?Complete scrubbing?, +95% dis-aggregation of clay minerals from auriferous quartz, was achieved with 60 seconds retention time at both 50% and 60% solids pulp density, suggesting a simple, low pressure scrubbing system will be adequate to achieve thorough scrubbing of the plant feed.  This, coupled with preliminary gold particle size characterization from the resource body may allow significant reduction in volume of the down-line process stream by de-sliming before further processing without significant loss of contained gold, thus reducing the size, and attendant capital and operating cost for the actual gold recovery system.

 

The Company is very pleased with the early results from the studies in support of the feasibility study for development of its Million Mountain Zone 1 resource.  To date, all results have been as good as or better than projected based on the Company?s internal analysis.

 

Owing to the very positive results of the Company?s detailed internal scoping and economic analysis, the Company elected to move directly to a formal feasibility study being performed Tetra Tech, supported by process subcontractors RDi and Met-Solve.  In order to expedite delivery, the entire process of scoping and trade-off studies, feasibility study and report, and final design for construction have been integrated into a seamless process utilizing the same team.  Delivery of the NI 43-101 compliant feasibility study is targeted for 3Q 2013, to be followed immediately by a final development decision (pending positive study results as expected), completion of development financing, and commencement of construction.  Commissioning of the mine and plant for production is targeted for 3Q 2014.

 

The Million Mountain Zone 1 deposit hosts approximately 500,000 tr oz Au as currently tested, including NI 43-101 compliant ?measured? resources of 12.12 million tonnes grading 1.0g/t Au, and ?indicated? resources of 2.18 million tonnes grading 0.9g/t Au.  Since completion of the NI 43-101 resource calculation and report by Pincock, Allen & Holt (Runge Pincock Minarco), the Company has completed 40 additional drill holes on the perimeter of the resource body which have encountered gold mineralization, and are expected to be additive to the resource.  The resource will be formally updated to NI 43-101 standards to  include these additional holes as a part of the feasibility study and the updated resource body will be utilized for detailed mine planning.

 

Feasibility of exploitation of the deposit will be broken into two phases.  The first, which is the subject of the Company?s internal analysis and the current work, will be limited to that portion of the deposit which is saprolitized (chemically weathered in situ to clay-like consistency).  Mining and processing requirements for this regime are considerably different from those of un-weathered rock in that drilling and blasting is not required to excavate saprolite, and crushing and grinding requirements for the heavily weathered material are substantially less intensive.  Feasibility analysis of mining and processing the un-weathered portion of the deposit will be a separate undertaking to be commissioned at a later date, once mining of the saprolite portion of the body is well advanced.

 

As in the internal analysis, the base case scope for the current feasibility study includes mining and processing at the rate of nominally 100,000 tonnes per month.  Mining will be limited to the saprolite portion of the body and will be prosecuted by conventional open pit methods down to the contact between the weathered and un-weathered portions of the body at an elevation of approximately 30 meters ASL.  The process plant is contemplated to be of portable, modular construction to minimize on-site construction, thus providing the benefits of economy and improved quality of shop-built modules and minimizing risks associated with on-site construction.  The basic flow sheet currently contemplated in the internal analysis includes a nominal crushing and grinding circuit followed by gravity concentration.  Gravity tails may be subjected to CN leaching to recover remaining gold not recoverable by gravity means if demonstrated to be cost beneficial.  Preliminary feasibility work suggests that because of the relatively coarse gold particle size distribution, it may be more cost effective to enhance the gravity circuit with an intensive multistage process likely to include some regrinding, and eliminate the leaching circuit entirely.

 

Metallurgical Sample Drill Hole Location Table

 

Hole Number

Easting (m)

Northing (m)

Collar Elev. (m)

Dip (deg)

Azimuth

Total Depth (m)

 

 

 

 

 

 

 

MMMT001

240858.31

697100.71

81.06

-90.00

n/a

45.80

MMMT002

241036.84

697100.68

59.16

-90.00

n/a

21.80

MMMT003

240863.97

697090.27

78.85

-90.00

n/a

42.80

MMMT004

241058.93

697099.32

58.66

-90.00

n/a

17.30

MMMT005

240927.69

697080.72

79.82

-90.00

n/a

48.80

MMMT006

241081.53

697106.58

57.28

-90.00

n/a

21.80

Note:  Coordinates are UTM WGS 84 Datum, 21N Grid

 

About Sacre-Coeur

 

The Company is engaged in the acquisition, exploration, development, and production of properties for gold, metals and diamonds in South America, initially focussing on exploration and production of gold from its properties in Guyana. The Company presently holds 100% interest in approximately 860 sq. km of mineral properties in Guyana, including the Million Mountain Property which hosts an NI 43-101 compliant hard-rock resource of 12,119,285 tonnes grading 1.0 g/t Au Measured, and 2,175,278 tonnes grading 0.9 g/t Au Indicated for a total 451,000 tr oz Au combined. The Company has offices in Vancouver, Canada and Georgetown, Guyana.  More information about the Company is available at <www.scminerals.com>.

 

The undersigned is a Qualified Person under NI 43-101.  All information contained herein has been prepared by or under the supervision of the undersigned.

 

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

?Gregory B. Sparks?      
Gregory B. Sparks, P. Eng.

President & CEO

 

 

 

 

For further information, contact:

 

Gregory Sparks, President and CEO

Email: greg@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

Ryan Carpel, IR Coordinator

Email:  ryan@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

 

 

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

This news release may contain ?forward-looking statements? within the meaning of the United States Private Securities Litigation Reform Act of 1995 or ?forward-looking information? within the meaning of applicable Canadian securities laws, which we will refer to as ?forward-looking information?. Often, but not always, forward-looking information can be identified by the use of words such as ?plans?, ?expects?, ?targets?, ?is expected?, ?budget?, ?scheduled?, ?estimates?, ?forecasts?, ?intends?, ?anticipates? or ?believes? or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results ?may?, ?could?, ?would?, ?might? or ?will? be taken, occur or be achieved. Forward-looking information includes, but is not limited to, statements pertaining to gold production, development activities, commissioning of environmental studies, application for necessary permits for production operations, metallurgical studies, commissioning of a third party feasibility study, arrangement of financing for development, formal production decisions, business combinations.

 

We can give no assurance that the forward-looking information will prove to be accurate. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors, including those discussed in the Company?s quarterly and annual management discussion and analysis, which are available at www.sedar.com under the Company?s profile, any of which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The forward-looking information is based on a number of assumptions that management believes are reasonable, including but not limited to assumptions about: the price of gold; the financial condition of the Company; anticipated costs and expenditures; estimated production; mineral resources or reserves; and metallurgical recoveries; general business conditions; and the ability to achieve our goals. The forward-looking information is also subject to certain risks, uncertainties and other factors associated with our business, including but not limited to: gold price volatility; risks of not meeting production and cost targets; discrepancies between actual and estimated production; mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment and operating in foreign countries; currency fluctuations; speculative nature of gold exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the Company?s quarterly and annual management discussion and analysis. Should underlying assumptions prove incorrect, or should one or more of the risks, uncertainties or other factors materialize, actual results may vary materially from those expressed or implied in the forward-looking information.

 

Forward-looking information is designed to help you understand management?s current views of our near and longer term prospects, and it may not be appropriate for other purposes. Forward-looking information is based on the reasonable beliefs, estimates and opinions of management at the date the statements are made and is subject to change without notice. These factors should be carefully considered and viewers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. We will not necessarily update this information unless we are required to by applicable securities laws.

 

 

 

Thanks,

Ryan Carpel

IR Coordinator

Sacre-Coeur Minerals

312-519-6549

 

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Sacre-Coeur Minerals Ltd.

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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
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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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