International Gold Resources, Inc. Announces Assay Results for Cupixi Manganese Target, Amapa State, Brazil
Wed Nov 28, 1:25 PM
ca.news.finance.yahoo.com
DENVER--(BUSINESS WIRE)--International Gold Resources, Inc. (Pink Sheets: IGRU) announced today the initial assay results from surface sampling at the Cupixi manganese exploration target in Amapa State, Brazil. Tobias Geotec, IGR’s Brazilian consulting geologist stated, “The assay results support our estimates presented to the Departmento Nacional de Producao Mineral, DNPM, for the Cupixi mining license application.” Tobias has estimated that as much as 30 to 50 million metric tonnes of manganese oxide ore are possible at Cupixi. The DNPM is the governing Brazilian agency responsible for issuing permits and mining licenses. Notable assay results from surface manganese outcrops taken over a 2 km length include: EST-01, 74% Manganese (Mn); EST-02, 78% Mn; EST-03, 35% Mn; EST-04, 60% Mn; EST-05, 50% Mn; EST-06, 14.1% Mn; EST-07, 25.4% Mn; EST-08, 31.3% Mn; and EST-09, 37.3% Mn. SGS GeoSol Labs completed the Cupixi assay work. All sample assay results are available on IGR’s Internet site, “www.intlgold.com.” Tonnage and assay results are not compliant with United States Securities and Exchange Commission or Canadian Instrument 43-101 guidelines for reserve estimates.
IGR met this week with the Minister of Mines and Energy and the National Director of the DNPM in Brasilia, the Capital of Brazil. Rodolfo “Mike” Michels, Vice President of Brazil Operations, reports, “The DNPM has accelerated its technical review of IGR’s mining license application. We welcome the opportunity to present our Company and the results of our work at Cupixi to senior DNPM and other Brazilian Government officials.”
Behre Dolbear’s technical consultant, Robert S. Belica, recently returned from a site visit. Mr. Belica reported, “Cupixi looks very similar to the ICOMI deposit mined by Bethlehem Steel just to the Northwest of Cupixi and the work completed so far by Tobias has been performed in a competent manner.” IGR has retained Behre Dolbear to assist with technical oversight of the Cupixi manganese project and IGR’s other gold properties in Brazil.
Dave Francisco, IGR’s Chairman, said, “IGR has placed Cupixi at the top of our list for funding support and we will be doing everything possible to advance this exploration project quickly. Drilling is required to assess the potential of Cupixi. The manganese market is strong and spot prices continue to reach historic highs. We believe Cupixi has the potential to be a significant asset for IGR.”
About International Gold Resources, Inc.
The vision of International Gold Resources, Inc. is to maximize shareholder value by becoming recognized as one of the premier early stage gold exploration and development companies in the world.
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such forward-looking statements include, among others, mineralized material estimates, size and scope of Cupixi manganese deposit, Cupixi drilling program, and DNPM approval. Factors that could cause actual results to differ materially from these forward-looking statements include, among others: the uncertainty of operating in foreign countries; the volatility of mineral prices; potential operating risks of mining, development and exploration; the uncertainty of estimates of mineralized material and deposits; and environmental and governmental regulations; availability of financing; as well as governmental proceedings and approvals and force majeure events and other risk factors as described from time to time in the Company’s filings with the Securities and Exchange Commission. Most of these factors are beyond the Company’s ability to control or predict.
International Gold Resources, Inc.
Vice President-Investor Relations
Mr. Lyle Durham, 425-844-2535
U.S. only: 1-800-480-9008
Website: intlgold.com |
