SOURCE: Siga Resources Inc

Siga Resources Inc

July 27, 2011 09:15 ET

The Initial Plant Production Program by Siga Resources, Inc for the Lucky Thirteen Property Is Expected to Start by September 1st, 2011

SOUTH LAKE TAHOE, CA--(Marketwire - Jul 27, 2011) - Siga Resources, Inc (OTCBB: SGAE) is pleased to announce that the initial bulk test pre-production program for the Lucky Thirteen Placer property is expected to start by September 1st, 2011.

Ed Morrow, President of Siga Resources, stated "Siga Resources is very excited about this small work program. The primary goals of this phase are to verify the continuity and tenor of gold grades indicated from previous work and importantly, test for the economic presence and recovery of platinum values which have been reported in several samples from the more recent historical work."

The test plant's capacity is about 50 cubic yards per hour. Reports from earlier evaluation and operation indicate the gravels in the deposit may contain approximately .05 ounces of gold per cubic yard. At full plant capacity, gravels at this grade could yield up to 2.5 ounces of gold per hour, with possible platinum values in the same dollar value range as gold. The planned larger production plant, optimized for volume, could produce multiples of the metal output of the test plant, and could prove to be able to process much lower grade gravels at a profit, thus extending the known resource significantly.

The Lucky Thirteen Placer is 168 ha (415 acres) in size. The claim is located on the historic Union gravel bar, located on the north bank of the Fraser River. The targeted deposit covers an area of approximately 50 ha (124 acres) portion of the entire property.

About Siga Resources Inc

Siga Resources Inc, founded in 2007, is based in South Lake Tahoe, California. Siga is a mineral resource exploration and development company. Siga's strategy targets properties that have the potential for near term production and early positive cash flow. Siga's primary geographical interest is North and South America.

Siga currently has two active projects, the Lucky Thirteen Placer in British Columbia, and the Big Bear Gold Project in San Bernardino County, California.

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Forward-Looking Statements

You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.

Contact Information

  • Contacts:

    Siga Resources
    Ed Morrow
    530 577 4141

    Robert Malasek
    760 607 8268