SOURCE: Siga Resources Inc

Siga Resources Inc

August 24, 2011 09:15 ET

Siga Resources Inc Provides Lucky Thirteen Bulk Sampling Progress Update

SOUTH LAKE TAHOE, CA--(Marketwire - Aug 24, 2011) - Siga Resources Inc (OTCBB: SGAE)

The bulk sampling program at Lucky Thirteen is making excellent progress in accessing the gravels down to design depths. This program is primarily designed to add to the areas of the claim that have been tested with modern production equipment. The testing continues to produce quite high volumes of black sands, and visible gold continues to be seen in concentrate samples.

Sufficient samples are now in inventory to begin early metallurgical testing. Within a week, Siga will have representative samples, a few hundred pounds of concentrate, processed through production scale gravity separation equipment. This is the first phase of quantifying the portion of total values that are free visible gold, and the portion of the values that is combined in or with other minerals or compounds.

The Lucky Thirteen property is near Hope, BC, is 168 ha (415 acres) in size. The targeted deposit covers an area of approximately 50 ha (124 acres) of the entire placer claim.

About 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.

About the Big Bear Mining Property

The Big Bear Mining Claims consists of 9 claims, making up approx 1440 acres in North eastern edge of the San Bernardino Mountains. The project area is known historically as the Blackhawk mining District and has been a previous producer of gold and silver. The area is believed to contain economically viable gold mineralization, particularly at the current metals prices. Anticipated total contained gold could be in the range of 2 to 3 million ounces. Field operations were initiated August 2, 2011 and phase 1 is expected to be completed before the end of September.

Siga continues to seek and review projects meeting the goals of the business plan, and which offer similar short time to positive revenue as the Lucky Thirteen Placer does.

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 "could," "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.

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Contact Information

  • Contacts:

    Siga Resources
    Ed Morrow
    530 577 4141

    Robert Malasek
    760 607 8268
    Email: Email Contact