WHANA PROJECT UPDATE
Thu Aug 20, 9:20 AM
ca.news.finance.yahoo.com
LANGLEY, CANADA, August 20, 2009 – Shoreham Resources Ltd. (the “Company” or “Shoreham”) (TSX-V: “SMH”), a Canadian exploration company dedicated to the exploration of advanced precious metal and polymetallic deposits in Guyana and Canada, is pleased to announce its work plans for Phase I exploration of four target areas in the Whana target area in northwestern Guyana. The land has been consolidated and the work will be funded as part of the Shoreham and Mulgravian Resources’ Joint Venture (News Releases December 22, 2008 and April 27, 2009).
The work has been planned based on results from systematic soil and auger geochemical sampling surveys completed by Shoreham’s team and previous operators. The Whana soil geochemical surveys were collected in systematic grids with spacing ranging from 1,000 meters to 200 meters. The 1964 soil survey values range from detection limits to peak values of 5,980 parts per billion. The 4,610 one-meter deep auger samples yielded gold concentrations from below detection limits of 5 parts per billion to a maximum of 2,506 parts per billion. The patterns of anomalous values have identified four large targets with a clearly defined strike length in excess of 4 kilometers and numerous smaller but potentially significant zones of gold concentrations. The exploration team and management of Shoreham are very pleased with the size, geological context and potential significance of these targets and are eager to advance the work program. Data regarding the target areas are presented on our website www.shoreham.ca for shareholder and investor inquiries.
The corresponding data for the company’s adjoining Black Banana and 5 Stars Property will be documented in other news releases as the final analytical results are organized and considered in the company’s work plans. The program is scheduled for commencement in late August. The work schedule is dictated by the local rainy season which normally lasts until early August. The planned exploration program will consist of base camp installations, improvements in roads and trails, examination and sampling of existing workings as exposure permits, systematic deep mechanized auger (TRADO) drilling and mechanical trenching to provide a sound foundation for subsequent diamond drilling programs.
David Bending, M.Sc., P.Geo., President and CEO of Shoreham Resources Ltd. is a Qualified Person as defined in National Policy 43-101 (“NI 43-101”), and is responsible for and has reviewed all technical information contained in this news release. Mr. Bending reports that: "The contiguous Whana/Black Banana/Five Star Properties will be the initial focus of our exploration efforts for the Guiana Shield Resources and Mulgravian Ventures projects. Our goal is to quickly bring these properties to the drill stage and proceed with delineation of resources in these well defined targets.”
For further information please visit our website at www.shoreham.ca or contact our President and CEO Mr. David A. Bending at 604-533-9288. You may also go to www.agoracom.com where you can view comments posted on their site or contact our Investor Relations Representative, Mr. Mike Kachanovsky via email at mkachanovsky@shoreham.ca or Pro-edge Consultants Inc., Tracy Weslosky, at 416-581-1717 or via email at tracy@pro-edge.com.
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. |
