Samco Gold Limited
TSX VENTURE : SGA

Samco Gold Limited

March 06, 2014 10:00 ET

Samco Gold Files Technical Report Confirming Potential for Gold-Silver and Base Metal Mineralisation at Its Corina Project

TORONTO, ONTARIO--(Marketwired - March 6, 2014) - Samco Gold Limited (TSX VENTURE:SGA) ("Samco Gold" or the "Company") is pleased to announce that a National Instrument 43-101-compliant technical report entitled 'Technical Report on the Corina Property, Santa Cruz Province, Argentina', dated 28th February 2014, was filed on SEDAR today.

A copy of the technical report (the "Report") may be obtained via www.sedar.com and on the Samco Gold website at www.samcogold.com. Further information on the Corina Property, including information included in historic news releases, may also be obtained via SEDAR and on the Samco Gold website.

ACA Howe International Limited ("ACA Howe"), author of the Report conclude as follows:

"ACA Howe concludes that the Corina and adjacent Mercia licences are strategically situated within the Deseado Massif adjacent to the ca. 2 Moz AuEq Cerro Moro gold-silver project. The limited sampling and drilling conducted on the licences to date, together with field observations, indicates potential for significant gold-silver and base metal mineralisation on the licences."

Charles Koppel, Executive Chairman and CEO of Samco Gold said:

"We are delighted with the progress at our Corina project to date. Corina and Mercia are two of Samco's grass roots projects and it is pleasing to note that ACA Howe have seen sufficient potential at Corina to draw comparisons with some of the most significant silver and base metal projects in Latin America.

The work done to date, coupled with the programme outlined in the ACA Howe report, allows us to progress towards resource definition at Cerro Cubilete."

About Samco Gold Limited

Samco Gold's principal business is the acquisition, exploration and development of precious metals resource properties in Argentina. The Company's principal mineral property is the El Dorado Monserrat ("EDM") epithermal gold project, located in the Deseado Massif region of Santa Cruz Province, Argentina. With an experienced board and management team including a strong Argentinean compliment, the Company's goal is to become an Argentinean producer of gold and silver through the exploration and development of EDM. Samco Gold also owns a portfolio of other mineral exploration properties in the Deseado Massif.

Additional details on the Company are available on SEDAR (www.sedar.com).

Dr. David Patrick, Managing Director of ACA Howe International Limited is a Qualified Person within the meaning of Canadian National Instrument 43-101 and has reviewed and approved references to and extracts from the Report as set out herein.

FORWARD LOOKING STATEMENTS AND DISCLAIMER

This press release contains forward-looking statements which can be identified by the use of words "should", "potential", "contingent", "proposed", "further", "estimated", "anticipate", "goal", and phrases or statements that certain actions, events or results "may", "would", or "will" be taken, occur or be achieved. Statements regarding the potential for mineralisation at Corina and Mercia and delineation of resources by Samco Gold are forward looking statements.

Forward-looking statements involve known and unknown risks, assumptions, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Samco Gold's disclosure documents publicly available under the Company's profile on the SEDAR website at www.sedar.com. Although Samco Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws.

The information herein regarding the adjacent Cerro Moro project has been publicly disclosed by Yamana Gold on its website at www.yamana.com. The qualified person for the Report has not verified the information on Cerro Merro and such information is not necessarily indicative of the mineralisation at Corina and Mercia.

Neither the 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.

Contact Information

  • Samco Gold Limited
    Charles Koppel
    Executive Chairman and Chief Executive Officer
    +44 (0) 20 7647 2532
    ck@samcogold.com

    Bell Pottinger
    Daniel Thole
    Marcin Zydowicz
    Financial Communications
    +44 (0) 20 7861 1606