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CALGARY, ALBERTA–(Marketwire – Aug. 1, 2012) – Sienna Gold Inc. (“Sienna” or the “Company”) (TSX VENTURE:SGP) (LMA:SGP) is pleased to announce the latest results from new drill holes at Callanquitas, on the Igor project, La Libertad, Peru. These seven holes totalled 1561.5 meters (m).
Drill Results
Holes CA-12-48 to CA-12-53 and CA-12-55, drilled on three different sections, all intersected mineralization.
Drill hole CA-12-55 gave the best results: 12.7 m at 5.1 grams/tonne (g/t) gold and 1163 g/t silver within an overall interval of 108 m at 1.4 g/t gold and 222 g/t silver.
Likewise CA-12-48, with 11.0 m at 4.9 g/t gold and 189 g/t silver within an overall interval of 17.0 m at 3.3 g/t gold and 129 g/t silver.
Full results are given in the table below. A map of hole locations is shown below, as are Sections NW4805 and NE4555. Further maps and cross sections will be available on the Sienna Gold website.
To view the map associated with this release, please see the following link: http://www.marketwire.com/library/20120801-sienna1.jpg
The Callanquitas Structure
Dr Warren Pratt, Director of Sienna Gold Inc, comments, “The ongoing drilling is designed to test the Callanquitas Structure at 50 m intervals, in all directions. These new results continue to demonstrate the lateral and vertical continuity of the high grade mineralization. The area of high grade keeps expanding and large parts of the Callanquitas Structure remain completely un-tested by drilling. We are also demonstrating the presence of additional, parallel, high grade structures. We are very much looking forward to the initial resource calculation in October 2012.”
Assay results for drill holes CA-12-48 to CA-12-55.
| Drill Hole | From | To | Interval1 | Weighted Averages2 | ||
| (m) | (m) | (m) | Gold (g/t) | Ag (g/t) | ||
| CA-12-48 | 70.70 | 72.30 | 1.60 | 9.0 | 37 | |
| CA-12-48 | 74.00 | 76.00 | 2.00 | 0.0 | 3 | |
| CA-12-48 | 81.00 | 85.60 | 4.60 | 2.1 | 8 | |
| CA-12-48 | 232.90 | 250.40 | 17.5 | 1.4 | 6 | |
| including | 239.9 | 244.0 | 4.1 | 4.0 | 8 | |
| CA-12-48 | 284.00 | 301.00 | 17.0 | 3.3 | 129 | |
| including | 287.50 | 298.50 | 11.0 | 4.9 | 189 | |
| CA-12-49 | 0.00 | 2.90 | 2.90 | 1.1 | 0 | |
| CA-12-50 | 25.60 | 34.70 | 9.10 | 0.3 | 25 | |
| CA-12-50 | 64.00 | 73.60 | 9.60 | 0.2 | 3 | |
| CA-12-51 | 32.25 | 56.10 | 23.85 | 0.7 | 30 | |
| including | 44.40 | 47.90 | 3.50 | 1.6 | 92 | |
| including | 52.80 | 54.10 | 1.30 | 2.4 | 75 | |
| CA-12-51 | 63.80 | 70.00 | 6.20 | 0.7 | 12 | |
| CA-12-52 | 92.80 | 141.00 | 48.20 | 1.3 | 11 | |
| including | 92.80 | 94.00 | 1.20 | 1.2 | 3 | |
| including | 98.00 | 106.20 | 8.20 | 3.0 | 39 | |
| including | 116.90 | 117.90 | 1.00 | 6.0 | 14 | |
| including | 124.50 | 127.50 | 3.00 | 7.1 | 10 | |
| CA-12-53 | 118.00 | 143.30 | 25.30 | 3.4 | 80 | |
| including | 122.20 | 138.50 | 16.30 | 5.0 | 95 | |
| CA-12-54 | Pending | |||||
| CA-12-55 | 15.00 | 20.90 | 5.90 | 0.6 | 11 | |
| CA-12-55 | 176.00 | 284.00 | 108.00 | 1.4 | 222 | |
| including | 178.40 | 184.00 | 5.60 | 1.3 | 382 | |
| including | 194.60 | 207.30 | 12.70 | 5.1 | 1162 | |
| including | 233.30 | 237.10 | 3.80 | 3.1 | 89 | |
| including | 244.20 | 248.20 | 4.00 | 1.7 | 180 | |
| including | 262.40 | 273.55 | 11.15 | 1.4 | 472 | |
| including | 277.05 | 282.00 | 4.95 | 2.3 | 24 | |
| (1)It should be noted that these are all angled holes and downhole intervals do not necessarily reflect the true width of the mineralized structure. | ||||||
| (2)Weighted averages were calculated for continuously mineralized intervals using a bottom cut on 0.1-0.2 g/t gold, no top cut and minimum internal waste. | ||||||
A full list of drill holes and significant intercepts will be available on the website: www.siennagold.com.
Exploration Update
Two rigs continue on site: one large tracked rig and a man portable rig. A total of 14,000 m has been drilled to date.
The new resource for the Callanquitas Structure, based on approximately 20,000 m of drilling, should be published in mid- to late October with the full NI 43-101 report to follow before the end of the year.
Drilling will, however, continue at Callanquitas and extend to Domo and Tesoros in late 2012/early 2013.
Sampling Methodology
Cores taken from the diamond drill rig are stored in plastic core boxes and transported to the camp for detailed geotechnical and geological logging. Density and Point Load testing are carried out. Afterwards, the core is cut on site with a diamond saw. One half is then sent to an accredited laboratory in various sample lengths. Randy Henkle (PGeol), the Company’s independent Qualified Person, completed a chain of custody review to ensure the integrity of all sample data.
Assaying Methodology
The samples are analysed by SGS Laboratories in Lima by inductively coupled plasma atomic emission spectroscopy for silver and 37 other elements (included Hg and Te) and a 30 gram fire assay technique for gold. Samples above detection limits are re-assayed using a gravimetric fire assay. The specific lab procedures can be found in the Company’s 43-101 report on the Igor property.
This press release was reviewed and approved by Dr Warren Pratt (CGeol) who is a “Qualified Person” according to National Instrument 43-101.
Sienna Gold Inc is a gold exploration company with property interests in Peru. Its key prospect is the Igor Mine Project, a formerly producing mine that the Corporation is exploring further.
If you wish any further information, please feel free to contact John Rucci at any of the contact points noted above.
John M Rucci, President
WARNING: the Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sienna Gold Inc.
John Rucci
403-508-2061
403-508-2670 (FAX)
[email protected]
Sienna Gold Inc.
SUITE 1100, 800 6TH AVENUE S.W.
CALGARY, ALBERTA
CANADA T2P 3G3
www.siennagold.com
