SOURCE: Siga Resources Inc

Siga Resources Inc

July 25, 2011 09:15 ET

Lucky Thirteen Placer Gold Project Evaluation Program Update

SOUTH LAKE TAHOE, CA--(Marketwire - Jul 25, 2011) - Siga Resources, Inc (OTCBB: SGAE) President and CEO Edwin Morrow announced today that Siga Resources Inc has all equipment and the test plant on site at the Lucky thirteen project near Hope, BC, Canada.

Primary testing of the washing plant will be completed within the next 3 weeks and the initial test plant production program is expected to start by September 1st, 2011.

Project highlights:

  • The placer testing equipment is installed. Providing expected results are received, the test plant will be converted to mining, pending delivery of a larger production plant.

  • Reports from earlier evaluation and operation indicate the gravels on the bar may contain mineable gold grades of approximately .05 ounces per cubic yard, with possible platinum values in the same dollar value range as gold, which would greatly increase the profitability of the Lucky Thirteen project

  • The test program will sample 12 or more test pits. The process is designed to verify the gold content as reported by earlier operations and provide samples for process design to optimize recovery for the mining campaign planned to follow.

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.

Follow Siga on the web at www.sigaresourcesinc.com

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
    President
    530 577 4141

    Robert Malasek
    CFO
    760 607 8268