Sidney Resources Corporation Reports Assay Results and a Comprehensive Evaluation of Recently Discovered Gold-Enriched Stockpiles

WARREN, ID / ACCESSWIRE / November 8, 2023 // Sidney Resources Corporation (OTC PINK:SDRC) is pleased to announce the highly anticipated assay results from the recently discovered five significant ore stockpiles (see 10/4/2023 Company Update), which are thought to be remnants of the historical Knott and Delaware Veins near the renowned Hornet Patented Claim, which is part of the thriving Sidney Resources Corporation mining projects near Warren, Idaho (referenced in Figure 1 below).

Foto: Accesswire

Figure 1 : Aerial Map of the Lucky Ben Project

Assay Process and Results :

Bulk sampling was performed on the lower stockpile. This involved a grab sample process, taken from multiple regions, including the top, middle, and toe sections of each of the five stockpiles. Sample sites were duly marked and geo-referenced. The gold grade for these samples ranged from 0.72 oz/ton to 1.78 oz/ton Au. An additional 50-pound bulk sample was processed down to a 29-gram concentrate and analyzed, yielding a gold grade of 117 oz/ton Au. This equates to an approximate bulk grade of 2.925 oz/ton.

To obtain the 50-pound bulk sample, material was collected in five 5-gallon buckets until the weight of 50 pounds was reached. This method enabled a complete representation of the stockpile, including ore from the upper, middle, and bottom sections. Each of these materials was crushed to a 50-mesh granularity and condensed to a 29-gram sample before being delivered to Florin Analytical Services. Florin Analytical Services selected the sample size based on the test requirement sample size. Geologist Steve Dobson upheld sampling integrity throughout the procedure.

Foto: Accesswire

Figure 2 : Stockpile Location

Stockpile Evaluation :

As of October 20th, 2023, there is approximately 1000 tons of ore grade material stockpiled at the mill site. All material is from the lower stockpile located on the SRP-1 Placer Claim and SRL-1 Load Claim. Barring any unforeseen catastrophic events, the end of year goal of 2000-tons set by Dan Hally, COO for ore grade material to be stockpiled at the mill will be met. The estimated tonnage of the ore-grade material in the SRP-1 Placer Claim stockpiles is approximately 20,000 tons. The conservative estimated gold contained in the ore is approximately 36,200 oz/Au. Given the current gold price of $1974/oz(as of market close pre-press release of 11/7/2023, the gross estimated value of the gold content in the stockpile amounts to $71.458 Million when using the mean assay of 1.81oz/t. The 2000 tons of ore grade material being moved to the mill building is estimated to contain 3,620 oz/Au. Given the current gold price of $1,974/oz, the gross estimated value of gold content in the stockpile at the Sidney Mill amounts to $7.145 Million