Sidney Resources Corporation Announces Gold and Silver Assays
October 05 2005 - 3:41PM
PR Newswire (US)
BOISE, Idaho, Oct. 5 /PRNewswire-FirstCall/ -- Sidney Resources
Corporation (OTC:SDRC) (SDRC) today announces the results of Assays
on Gold and Silver channel samples. ASSAY RESULTS TEST FOR: Gold
Silver METHOD USED: FIRE FIRE ASSAY ASSAY RESULTS IN: oz/ton oz/ton
5-17-04 #2 .024 11.58 5-17-04 #4 .118 29.48 5-17-04 #9 .054 20.65
5-17-04 #10 .012 7.22 5-17-04 #15 .011 6.04 5-17-04 #17 .003 10.75
5-17-04 #1x .515 5.10 5-19-04 #1 .534 45.37 5-19-04 #2 .696 32.65
5-19-04 #5 .379 8.12 5-19-04 #6 .228 10.31 5-19-04 #7 .185 1.52
5-19-04 #8 1.866 8.43 5-19-04 #9 .502 3.40 SDRC has engaged an
underground mining contractor to collar a new portal 225 vertical
feet below the old workings at the Lucky Ben Mine, run a cross cut
70' to the vein and drift mine to the east on the vein. As this
development mining progresses, mineralized zones will be identified
and production mining started. Ore will be sampled, assayed and
weighed. That ore will be stockpiled for processing next year. The
value of that ore will be added to the balance sheet as an asset.
SDRC estimates costs of mining and milling ore under $190.00 per
ton with an average grade of .97 oz gold per ton. Economic grades
of silver and cobalt are present. Lower grade development ore as it
occurs will also be processed to help offset costs. An additional
200 vertical feet minimum of ore below the new level and accessed
from underground will be developed later, adding appreciably to the
mine life. To the east of the old workings we have 4,500 lineal
feet of claims for additional development and production. The
adjacent Arlise high grade silver mine is also accessible from the
new lower elevation drift and is an additional mineral resource. In
addition, SDRC has completed the on site road infrastructure to the
old adit as well as the new adit face, landing, and surface work
area. We continue on site to develop the road 1,200' to the east
and just north of and parallel to the vein at the surface. A new
247' access road, which is a level grade, culvert, and 265' of
improvements to an existing road, will be completed in October
2005. We still have access via the existing road. This new road
allows earlier spring and later fall access and year around
operations are still a good probability for this year. About Sidney
Resources Sidney Mining Co (SMC) was formed in 1896, incorporated
in 1910, and merged with a sister company Sidney Resources Corp.
(SDRC) effective 3/4/03. After evaluating numerous historic
precious metals properties that were once in production; SDRC
entered into a long term lease of the patented Lucky Ben Mine, 41
miles north of McCall, Idaho in the Warren Mining District which
was discovered in 1862. The Warren Mining District has been
considered to be one of the most prolific in Idaho. The common
stock is traded on the OTC-Pink Sheets under the symbol SDRC. SDRC
is currently debt free and intends to remain that way by pursuing
major funding for total mine and mill development through an
additional equity offering. SDRC does not use cyanide heap leaching
or mercury amalgamation. All mine and mill water is captured and
re- circulated. Mill tailings are mixed with cement and used to
back fill mined areas. This minimizes environmental impact,
stabilizes the mine and is most cost effective. "Safe Harbor"
Statement under Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute
"forward- looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Information contained in
this news release contains "forward-looking statements" which can
be identified by the use of forward- looking terminology such as
"believe", "expect", "may", "should", "up to", "approximately",
"likely", or "anticipates" or the negative thereof or given that
the future results covered by such forward looking statements will
be achieved. Such forward-looking statements involve a number of
known and unknown risks, uncertainties and other factors 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 statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only for the date the statement was made. Investors should
carefully consider the preceding information as well as information
contained in the news release before making any investment in the
shares of the company. Sidney Resources Corp., undertakes no
obligation to update any forward-looking statements contained in
this news release. Investor Relations Contacts: Eric Moe Mike
McIntyre (509) 467-8204 (604) 484-6243 DATASOURCE: Sidney Resources
Corporation CONTACT: Investor Relations, Eric Moe, +1-509-467-8204,
or , or Mike McIntyre, +1-604-484-6243, , both for Sidney Resources
Corporation
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