Southern Legacy Further Consolidates AntaKori Project Mining
TORONTO, ONTARIO -- (Marketwire) -- 01/07/13 -- Southern Legacy
Minerals ("SLM" or the "Company") (TSX VENTURE:LCY) is pleased to
announce that it has recently executed option agreements (the
"Option") to acquire a controlling interest in SMRL El Sinchao ("El
Sinchao"), a local Peruvian mining company, which owns 100% of three
of the mineral concessions that comprise the AntaKori Property. Under
the terms of the Option, no royalty or back-in rights are
The three concessions held by El Sinchao are Inquisicion, Incognita
and El Sinchao, all of which are located along the southeastern
extension of a high-grade copper-gold mineralized body defined by
drilling by previous owners. Earlier drill holes collared on these
claims include drill hole DDH9 which cut 32 metres with 2.6 % Cu and
0.46 g/t Au. None of the drill holes collared here tested the deeper
skarn and porphyry style mineralization found elsewhere on AntaKori.
Fernando Pickmann, the Company's President and CEO, stated: "With the
execution of the Option, Southern Legacy continues to advance its
three pronged strategy of consolidating ownership, resolving
long-standing environmental liabilities from previous operators, and
building a solid relationship with local stakeholders. By continuing
to build a relationship of trust with the various underlying owners
of the mineral rights, we continue to move forward in our aim of
drilling the various exploration targets on AntaKori as soon as
possible. Our aim is to build on the existing NI43-101 compliant
mineral resource, both by focusing on copper-gold mineralization
hosted in metasomatised sediments and mineralized porphyry intrusive
rocks, and by carrying out step out drilling along the high-grade
northwest-southeast mineralized trend, on which these newly
consolidated claims are located."
About Southern Legacy Minerals Inc.
Southern Legacy Minerals Inc. ("Southern Legacy") (TSX VENTURE:LCY)
is an exploration company with a portfolio of copper and gold
projects in South America. Southern Legacy is currently focused on
advancing its flagship copper and gold AntaKori project (formerly
known as Sinchao), located in northern Peru between Gold Fields'
Cerro Corona and Buenaventura-Southern Copper's Tantahuatay mines.
The project currently has a NI 43-101 compliant inferred resource
estimate of 294 Mt with average copper and gold grades of 0.48% and
0.36 g/t, respectively, containing 3.1 Blbs of copper and 3.4 Mozs of
gold, at an average copper equivalent grade of 0.92%.
Forward Looking Statement:
Certain of the information contained in this news release constitutes
'forward-looking statements' within the meaning of securities laws.
Such forward-looking statements, including but not limited to those
with respect to the prices of metals and minerals, purchase payments,
estimated future production and estimated costs of future production
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to be
materially different from any forecast results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the actual prices of metals and
minerals, the actual results of current exploration, development and
mining activities, changes in project parameters as plans continue to
be evaluated, as well as those factors disclosed in the documents of
the Company filed from time to time with the British Columbia
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Southern Legacy Minerals Inc.
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