On Saturday, Siga Resources Inc. announced that the Company received all the raw results from the 9 bulk test pits completed in late summer and fall on the Lucky Thirteen property. Over 8,000 cubic yards underwent excavation and processing during the program, generating approximately 50,000 pounds of gold bearing black sands.
Siga Resources, with the raw assays in hand, is modeling the tested area, and by way of metallurgical studies, determining an appropriate method to upgrade the wash plant concentrates and recover the fine flake gold inherent to the deposit. While it is too early to predict production grades precisely, the Company expects to see production levels alone in the range of $25 to $50 per cubic yard at current price levels.
The Company, during the testing, has also qualified the gravels as acceptable for the concrete and other aggregate markets. Plans for pursuing and enhancing this aspect of the Lucky Thirteen revenue stream are underway. Siga Resources will report on the ongoing feasibility study in the near future.
Headquartered in South Lake Tahoe, California, Siga Resources is a mineral resource exploration and development company. Under new management since September 2010, the Company has a revised corporate strategy. Siga Resources is targeting precious metals properties that hold potential for production and early positive cash flow. The Company’s main geographical interest is North America and South America. Incorporated in the State of Nevada in 2007, the Company’s shares trade on the OTC Bulletin Board.
Siga Resources continues to look for and review projects meeting the goals of their business plan. They encourage submittals of projects, which offer potential short time frames to production, similar to the Lucky Thirteen Placer in Hope, British Columbia. The Lucky Thirteen Placer claim is 168 ha (415 acres). The claim is on the Union gravel bar on the north bank of the Fraser River.
For more information, visit www.sigaresourcesinc.com
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