Cassidy Gold Corp. to Advance Kouroussa Gold Property, Guinea, West Africa.Business Editors KAMLOOPS, British Columbia--(BUSINESS WIRE)--Nov. 13, 2002 Cassidy Gold Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CDY CDY Cagayan de Sulu, Philippines (Airport Code) .CX) ("Cassidy") is pleased to announce that it has retained Pierre Trudel, Ph.D, P.Eng, of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. based SIDAM, a division of Le Groupe LMB LMB Left Mouse Button LMB Local Master Browser LMB Lois McMaster Bujold (science-fiction author) LMB Large-Mouth Bass LMB Lifetime Maximum Benefit LMB Latin Music Booking LMB Linear Momentum Balance LMB Low Maintenance Battery Experts-conseils Inc. to undertake a program of work on its Kouroussa gold exploration permit (the "Property") located in the Siguiri region of the Republic of Guinea, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . The objectives of this program are: to expand to the immediate south the existing Koekoe soil survey grid thereby including several additional areas of artisanal gold diggings the places, or region, where gold is found by digging in sand and gravel from which it is separated by washing. See also: Gold and: to prepare a property report in compliance with National Instrument 43-101. Cassidy Gold Corp. has the right, subject to a 15% state participation, to acquire a 100% interest in the 240 square kilometre Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
Exploration of the Kouroussa Property during 1996 to 1998 included the collection and analyses of 2,986 soil samples, 15 rock samples and 284 pit samples. The "Koekoe South" gold in soil geochemical anomaly consists of a 1.5 by 1.5 kilometre area having gold values that exceed 100 ppb ppb abbr. parts per billion (0.1 grams gold per tonne) with a 500 by 500 meter core that averages 0.97 grams per tonne gold from 196 samples, with the greatest value being 40.7 grams per tonne gold ("g Au/t"). This anomaly extends past the present grid (50 meter line spacing and 25 metre stations) to the South where the current program of work will concentrate. The two best anomalous sections within the limits of this anomaly are located along lines 1+00 North and 1+50 North. On line 1+00 north a 475 meters long section yielded an average value of 3.04 g Au/t. On line 1+50 north, another 475 meters long section returned an average value of 2.26 g Au/t. Approximately 1 kilometre northwest of Koekoe South is the Sodyanfe gold in soil geochemical anomaly. The Sodyanfe anomaly is defined by 213 samples collected on a 25x50 meters spaced grid. The average gold content of these samples is 0.49 g Au/t with the highest sample being 8.63 g Au/t. The two best lines are the southernmost, line 2+50 north, ranging from 0.09 to 5.43 g Au/t and averaging 1.06 g Au/t collected over a length of 450 meters, and line 2+00 north, ranging from 0.14 to 8.63 g Au/t and averaging 0.92 g Au/t collected over 250 meters. The Republic of Guinea is a stable French speaking democracy that hosts the world's largest bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. resources and is the world's second largest bauxite producer. It presently supplies the US with 40% of its bauxite needs. Alcan Inc., Alcoa Inc., Pecheny Group and Noranda Inc. all have significant investments in the country. Gold is also quickly becoming an important commodity produced in Guinea and with increased production, international exploration funding has also increased substantially with large exploration projects being worked on by major companies such as Anglo American plc Anglo American plc (LSE: AAL, JSE: ANGLO) is a world-wide group of companies, originally founded in South Africa as a mining enterprise but now extending into other areas. Natural resources remains the focus of its operations. and Rio Tinto Rio Tinto may refer to:
Cassidy's Kouroussa Property is located within the favourable Birrimian volcanic/sedimentary formations that host West Africa's largest gold deposits. The Birrimian rocks in Guinea host three gold deposits that are presently in production, Siguiri, Lero-Karta, and the Kiniero gold mine. Guinea's two main gold producers are Societe Ashanti de Guinee ("SAG") which is 85% owned by Ashanti Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Company Limited, and Societe Miniere de Dinguiraye ("SMD (1) (Storage Module Device) A high-performance hard disk interface used with minis and mainframes that transfers data in the 1-4 MBytes/sec range (SMD-E provides highest rate). See hard disk. "). A third producer, TSE-listed Semafo Inc. began production in 2002. SAG's Siguiri mine, located 800 km from the capital city of Conakry in the northeast of Guinea produced 283,199 oz of gold in 2001. At December 31, 2001, and as classified in accordance with JORC JORC Joint Ore Reserves Committee standards, Ashanti Goldfields reported that their 85 % interest in the Siguiri Mine had a contained gold content of about 2.1 million ounces gold in estimated proved and probable ore reserves of 56.7 million tonnes grading 1.2 g Au/t. SMD, which is 85% owned by Kenor ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and of Norway and 15% by the Guinea government, operates the Lero-Karta mine in northern Guinea. The Lero Karta Mine currently produces over 100,000 oz of gold per year from a heap leach operation that processes ore derived from mineralised sandstones, breccias and conglomerates. SMD have recently outlined additional gold deposits at Fayalala, about 10 km away from Lero, At December 31, 2001, and as determined in accordance with JORC standards, Kenor reported that the Lero-Karta mine operations have estimated measured, indicated and inferred resources of 15.1 million tonnes grading 2.4 g Au/t and the Fayalala deposit has an indicated and inferred resource of 32.6 million tonnes grading 1.4 g Au/t. Semafo's Kiniero Mine (previously known as Jean-Gobele) was officially opened in April of 2002. This mine, located in central Guinea about 650 km east of Conakry, was brought in at a budgeted cost of US $12.4 million. Semafo anticipates an annual production of 60,000 ounces per year at a cash operating cost of US $168 per oz. At December 31, 2001, and as determined in accordance with Canadian National Instrument 43-101 standards, Semafo reported that the Kiniero Mine has estimated proven and probable reserves of 866,000 tonnes grading 6.06 g Au/t and measured and indicated resources of 1.5 million tonnes grading 6.80 g Au/t. Cassidy's Kouroussa Property is located 27 kilometres north of Semafo's Kiniero Mine. Notes: Geological samples collected from the Kouroussa Property in 1996 were sent to XRAL Laboratories in Quebec. Soil samples, each weighing approximately one kilogram, collected in 1997 and 1998 were shipped to Intertek Testing Services laboratory in Mandiana, Guinea. After preparation, a 30-gram split sample was fire assayed. Some 12% of these samples were subject to duplication and samples over 1 g/t gold were systematically re-assayed. Analytical blanks and standards were used. On behalf of the Board of Directors Cassidy Gold Corp. James T. Gillis, President Please note: This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at cassidygold@telus.net The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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