Desert Sun Increases Measured & Indicated Resources to 2.3 Million oz of Gold and Inferred Resources to 3 Million oz At Jacobina.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Deep drilling at Jacobina Mine confirms depth extent DESERT SUN MINING CORP. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. )(AMEX AMEX See: American Stock Exchange :DEZ DEZ Dezember (German: December) DEZ Disease Eradication Zone DEZ Death Egg Zone (Sonic 2/3 & Knuckes level) DEZ Di-Ethylzinc ) has completed an updated mineral resource estimate incorporating new drilling results for all zones at its Jacobina Mine on the Bahia Bahia, state, Brazil Bahia (bäē`yə), state (1991 pop. 11,867,991), 216,612 sq mi (559,921 sq km), E Brazil, on the Atlantic Ocean. Salvador (also called Bahia) is the capital. Gold Belt in northeastern Brazil Brazil (brəzĭl`), Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. . This provides a final statement of updated mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature as at December December: see month. 15, 2005 as shown in Table 1 below. (Figure 1 shows the location of the major zones). Measured and Indicated mineral resources for all zones at Jacobina now total 27,900,000 tonnes grading 2.57g Au/t containing 2,311,000 ounces of gold. This is a significant increase of 261,000 ounces of gold compared to the December 2004 measured and indicated resource of 24,800,000 tonnes grading 2.53g Au/t containing 2,050,000 ounces of gold. Since the August 2003 resource estimate that formed the basis for the SNC-Lavalin SNC-Lavalin Group Inc. TSX: SNC is a Canadian engineering firm with interests in transportation, construction, hydroelectricity, mining and metallurgy, oil and gas, chemical engineering, petroleum engineering, aerospace engineering, defence, nuclear, environment, agriculture, feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. , exploration and development work by Desert Sun has increased Measured and Indicated mineral resources by 949,000 ounces of gold at an average discovery cost of approximately US$10 per ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. . At the Jacobina Mine, drilling and development has outlined sufficient new measured and indicated resources to replace 2005 production. Additionally, Inferred mineral resources in all zones now total 33,600,000 tonnes grading 2.80g Au/t containing 3,029,000 ounces of gold. This a substantial addition of 1,129,000 ounces of gold compared to the December 2004 inferred mineral resource of 22,200,000 tonnes grading 2.61g Au/t containing 1,900,000 ounces of gold. This increase reflects major additions at the Jacobina Mine (Joao Belo Be·lo , Carlos Felipe Ximenes Born 1948. East Timorese Roman Catholic bishop. An outspoken critic of Indonesia's invasion and colonization of East Timor, he shared the 1996 Nobel Peace Prize with José Ramos-Horta. zone) where inferred mineral resources now total 14,430,000 tonnes grading 2.66g Au/t containing 1,235,000 ounces of gold compared to the December 2004 inferred resource of 5,300,000 grading 2.33g Au/t containing 390,000 ounces of gold. The Inferred mineral resource at Canavieiras now totals 6,900,000 tonnes grading 3.29 g Au/t containing 730,000 ounces compared to the December 2004 Inferred mineral resource of 3,700,000 tonnes grading 2.41g Au/t containing 290,000 ounces of gold, an increase of 440,000 ounces. "This increase in resources is significant in terms of Desert Sun's future growth prospects," commented Mr. Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Humphrey Hum·phrey , Doris 1895-1958. American dancer and choreographer known for developing techniques of fall and recovery. , P.Eng P.Eng Professional Engineer ., President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Based on historical and recent experience, Desert Sun has a proven track record of successfully converting about 75% of Inferred resources into Indicated resources by further drilling. Based on our operating experience, the conversion rate of Measured and Indicated resources to Proven and Probable reserves is typically about 75%. Desert Sun mine staff is currently completing an updated mineral reserve estimate incorporating the new Measured and Indicated mineral resource at the Jacobina Mine (Joao Belo Zone). In addition, pre-feasibility studies will be initiated in early 2006 on the new indicated resources at the Canavieiras and Morro Mor´ro n. 1. A round hill or point of land; hence, Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. Extension zones. We anticipate an increase in overall reserves, further supporting our plans for production expansion." "The 2005 drilling program was very successful in not only outlining additional indicated mineral resources but also substantially expanding inferred mineral resources so that the total inferred resource is now greater than in August 2003," commented Dr. Bill Pearson Pear·son , Lester Bowles 1897-1972. Canadian politician who served as prime minister (1963-1968). He won the 1957 Nobel Peace Prize for his role in the negotiation of a solution to the Suez crisis (1956). , P.Geo., Vice President, Exploration. "Since 2003, exploration has outlined five development projects at Jacobina (Joao Belo II extension, Morro do Vento, Serra do Corrego, Canavieiras and Morro do Vento Extension.) The focus in the 2006 exploration program will be to continue to identify new mineral deposits in the Bahia Gold Belt and to further expand inferred mineral resources." The updated resource estimate has been reviewed and confirmed by B. Terrence Hennessey, P.Geo. of Micon International Limited. Mr. Hennessey, who is an independent qualified person as defined under National Instrument 43-101, visited the site from December 6 to December 9, 2005. The resource estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. methodology and classification used is the same as outlined in the August 2003 report by Mr. Hennessey and the March 2005 report prepared by Dr. Bill Pearson, P.Geo. and Peter Tagliamonte, P.Eng. of Desert Sun, both of which are filed on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review . Results of Deep Drilling at Jacobina Mine "Also important to our future growth are the results of the two deep holes we have completed at the Jacobina Mine," commented Dr. Pearson. "These results confirm that the main (LMPC LMPC Local-Mean Power Control ) reef we are currently mining extends down to a depth of 455 metres below the main haulage level (670 level) and is still open at depth as well as along strike. One hole also had a significant intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. in the FW (footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. ) reef (see also press release November 21, 2005)." Significant results from the two holes are summarized in Table 2 and are as follows: - 2.77g Au/t over 9.4m true width in the main (LMPC) reef and 2.64 g Au/t over 4.3m true width in the FW reef in hole JBA-370 - 4.24g Au/t over 7.3m true width in the main (LMPC) reef in hole JBA-418, 300m south of JBA-370 The results from these holes have been incorporated in the updated resource estimated as outline above. Assaying for the 2005 drilling program, including the deep drilling at the Jacobina Mine, was carried out by SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions Lakefield Geosol, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001, 2000 laboratory based in Brazil, using fire assay on 50 gram pulps. Check assaying was routinely carried out, by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex in Vancouver, on 10% of sample pulps and 5% of sample rejects. Independent standard reference samples are also inserted at regular intervals into each batch of analyses. Security is maintained at the core logging and sampling facility. Dr. Bill Pearson, P.Geo. is the Qualified Person as defined under National Instrument 43-101 responsible for the geoscientific and technical work on the program. Assaying for the underground drilling and channel sampling program at the Jacobina Mine (Joao Belo Zone) was carried out at the mine site laboratory which is an independent laboratory operated for the Jacobina mine by SGS Lakefield Geosol, using fire assay on 50 gram pulps. Blanks, duplicates and independent standard reference samples are inserted at regular intervals into each batch of analyses. The mine laboratory uses the full SGS QA/QC QA/QC Quality Assurance/Quality Control protocols and participates in regular intra-laboratory checks. Security is maintained at the core logging and sampling facility. Peter Tagliamonte, P.Eng., is the Qualified Person as defined under National Instrument 43-101 responsible for all mining and engineering work at the Jacobina Mine. Dr. Bill Pearson, P.Geo. is the Qualified Person as defined under National Instrument 43-101 responsible for the geoscientific and technical work. Desert Sun Mining is a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. gold mining company listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. with 100% ownership of the Jacobina Mine and the 155 km long Bahia Gold Belt in the state of Bahia, in northeastern Brazil. Proven and Probable mineral reserves in the Jacobina Mine area are 17,620,000 tonnes at 2.11 g Au/t containing 1,200,000 ounces of gold as at August 11, 2005. As a result of the Desert Sun's exploration programs to date, Measured and Indicated resources total 27,900,000 tonnes grading 2.57g Au/t containing 2,311,000 ounces of gold and Inferred Resources total 33,600,000 tonnes grading 2.80g Au/t containing 3,029,000 ounces of gold. The mineral reserves are included within the Measured and Indicated mineral resources. For additional information, contact Naomi Nemeth, Vice President, Investor Relations Investor relations The process by which the corporation communicates with its investors. at 416-861-5901 (info@desertsunmining.com) or visit Desert Sun's website at www.desertsunmining.com. Statements in this release that are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". This news release also uses the terms "measured resources", 'indicated resources' and 'inferred resources'. Desert Sun Mining Corp. advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
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Table 1
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Summary of Mineral Resources
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Updated by Desert Sun Mining as at December 16, 2005(1)
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Category Mine Tonnes Grade Contained Gold
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(g/t Au) (ounces)
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Measured Joao Belo 3,100,000 2.35 234,000
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Morro do Vento -
Basal/Main 210,000 5.77 39,000
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Morro do Vento Ext. -
Basal / Main 40,000 5.34 7,000
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Canavieiras 60,000 6.73 13,000
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Serra do Corrego 10,000 7.50 2,000
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Subtotal 3,400,000 2.68 295,000
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Indicated Joao Belo 10,570,000 2.29 780,000
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Morro do Vento-
Intermediate 5,800,000 2.18 407,000
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Morro do Vento -
Basal/Main 1,010,000 4.83 157,000
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Morro do Vento Ext -
Basal/Main 3,530,000 2.87 325,000
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Canavieiras 1,930,000 3.45 214,000
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Serra do Corrego 910,000 2.39 70,000
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Joao Belo Sul 770,000 2.55 63,000
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Subtotal 24,500,000 2.56 2,016,000
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Total Measured
and Indicated Joao Belo 13,670,000 2.31 1,015,000
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Morro do Vento-
Intermediate 5,800,000 2.18 407,000
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Morro do Vento -
Basal/Main 1,220,000 4.99 195,000
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Morro do Vento Ext -
Basal/Main 3,560,000 2.89 332,000
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Canavieiras 1,990,000 3.54 227,000
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Serra do Corrego 920,000 2.44 72,000
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Joao Belo Sul 770,000 2.55 63,000
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Total 27,900,000 2.57 2,311,000
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Inferred(2) Joao Belo 14,430,000 2.66 1,235,000
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Morro do Vento-
Intermediate 2,460,000 2.42 191,000
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Morro do Vento -
Basal/Main 1,920,000 3.78 233,000
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Canavieiras 6,900,000 3.29 730,000
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Serra do Corrego 1,350,000 3.51 152,000
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Joao Belo Sul 3,890,000 1.67 209,000
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Other Areas 2,680,000 3.23 279,000
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Total 33,600,000 2.80 3,029,000
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(1) Totals have been rounded
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(2) There are no inferred resources at Morro do Vento Ext. -
Basal/Main as the target has been completely drilled off
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Table 2: Significant Results of Deep Drilling at the Jacobina Mine
(Joao Belo Zone)
Hole No.(1) From (m) To (m) Gold Interval True Reef Depth
(g/t) (m) Width Below
(m) 670
Adit
Level
(m)(2)
JBA-370 N 8750772 E 334418 El 834.3
Dip -82/az
equals 267 583.83 598.78 2.77 14.95 9.4 LMPC 412
605.02 608.68 2.82 3.66 2.3 MPC 432
628.49 635.25 2.64 6.76 4.3 FW 455
JBA-418 N 8750482 E 334450 El 834.6
Dip -80/az
equals 281 663.30 674.50 4.24 11.20 7.3 LMPC 484
MPC reef appears to have merged with LMPC reef
FW Reef was not intersected due to faulting
(1) all holes are NQ core size
(2) depth calculated based on midpoint of intersection
NOTE: A map is available at the following link; http://www.ccnmatthews.com/docs/dsm1220.pdf Desert Sun Mining Corp. (TSX:DSM) (AMEX:DEZ) |
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