Shoreham Res (SMH) News Release.. Mr. David Bending of Shoreham reports
SHOREMAN RESOURCES LTD.: EXPLORATION PROGRESS AND EQUIPMENT PURCHASE MAPLE CREEK-POTARO GOLD AND DIAMOND PROPERTIES, GUYANA
Shoreham Resources Ltd. has made progress in the evaluation and development of its Maple Creek-Potaro properties in Guyana. Shoreham holds the option to acquire a 100-per-cent interest in this project area, in an agreement executed March 5, 2007, with Vannessa Ventures Inc. David Bending, MSc, PGeo, is a qualified person pursuant to NI 43-101 and is responsible for the planning, execution and evaluation of the work reported herein.
Shoreham has completed a systematic program of line cutting and soil geochemistry in those portions of the 40,000-acre property package which are underlain by deeply weathered lower Proterozoic greenstones. The geological environment is prospective for gold but no significant bedrock gold prospects are known within the licences. Some portions of the property are covered by transported sands and are not suitable for this type of survey. As of Feb. 1, 2008, the company has collected 1,855 soil samples, 245 stream sediment samples, 245 panned concentrates and 119 rock samples in the course of this survey. The samples have been submitted to Acme Analytical Laboratories for preparation and gold analysis, and will be released when received and duly evaluated.
In conjunction with this systematic gold exploration program, Shoreham has acquired, from Vannessa Ventures Inc., assorted rolling stock (three backhoes, three Caterpillar tractors, three trucks, a front-end loader, a DMS mineral processing plant, spares and assorted mining equipment). This equipment is being used in the company's exploration programs at Marudi Mountain and the Potaro River district, and shall also be used in other operations as the company advances its projects and investigates new opportunities.
David Bending, president and chief executive officer of Shoreham Resources, reports: "We are pleased to announce this progress in the Maple Creek-Potaro River licences area including the systematic gold exploration which was our primary incentive for acquiring the properties and an alluvial operation to build on the heritage of data and infrastructure established by Vannessa Ventures. Our equipment purchase has provided the tools for effective exploration and test mining operations and we have already seen the value of these tools in accelerating the development of the Marudi Mountain project."
© 2008 Canjex Publishing Ltd.