DENVER, Dec. 9, 2010 /PRNewswire/ -- Supatcha Resources
Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") is
pleased to announce the results of the first NI 43-101 compliant
resource estimate for the Barlevskoye and Vynohradiv Gold Property.
NEOSC Geomin Ltd. (NGL) has completed a mineral resource estimate
for the Barlevskoye and Vynohradiv Deposit effective December 6, 2010.
Deposit modeling utilizes assay data from 85 diamond drill holes
with a maximum intercept spacing of 56 meters used for the
indicated resources. Maximum drill hole intercept for the inferred
resources was limited to approximately 100 meters. The resource
estimate was prepared by Graig
Parham, P.Eng., a principal at NEOSC Geomin Ltd..
The Technical Report identifies, estimates and summarizes the
Barlevskoye and Vynohradiv Deposit resources above and below the
150-meter elevation for both the indicated and inferred mineral
resource categories.
NGL's deposit model identifies a broad zone of mineralization
that extends over a northwest distance of 930 meters and remains
open to the east. The mineralization averages approximately 460
meters wide, with the narrowest width of 293 meters located on the
more sparsely drilled eastern end of the zone, reaching a maximum
width of 540 meters in the western and more densely drilled western
portion of the zone. Widths are still open on the remainder of the
930 meter strike length. Mineralization included in the resource
extends from surface across the entire zone to a depth of 165
meters on the more sparsely drilled northern end and reaches a
depth of 400 to 450 meters on the western half of the zone and
remains open at depth.
NGL recommends that the Company's current drilling program
within the resource area be continued to both upgrade the quality
of the resources to more assured categories and to add internal
resources by decreasing drill hole spacing. NGL also recommends
drilling to the east to follow the broadly mineralized area and to
continue defining the mineralized zone to its northern limit, which
is unknown at this time.
Even though gold mineralization in some drill holes has been
encountered at a depth in excess of 450 vertical meters beneath the
zone containing the resources discussed above, Supatcha is focusing
its current drilling on the top 150 meters of mineralization to
more quickly and cost effectively develop sufficient resources to
bring the Barlevskoye and Vynohradiv Deposit to a production
decision at the earliest possible time.
"This initial resource estimate on the Barlevskoye and
Vynohradiv Deposit demonstrates that Barlevskoye and Vynohradiv has
the potential to be a significant shallow resource and bulk tonnage
open pit deposit," said Mr. Andrei B.
Yasinskij, Chief Geological Advisor for Supatcha Resources
Inc. "This resource does not include the results of our ongoing
20,000 meter drill program which we expect will both add ounces to
our resource and demonstrate the continuity of this shallow
mineralization. Over the near term, we will continue to accelerate
our exploration efforts resulting in an updated and expanded
resource calculation in the first quarter of 2011." The Company is
releasing assay results as they become available. Supatcha
Resources Inc. plans to continue drilling in order to both quickly
expand and improve the quality of the existing Barlevskoye and
Vynohradiv resource.
Qualified Persons
Technical information related to the Barlevskoye and Vynohradiv
mineral resource estimate contained in this press release has been
reviewed and approved by Mr. Graig
Parham is an independent Qualified Persons as defined by NI
43-101, with the ability and authority to verify the authenticity
and validity of this data.
The technical aspects of this press release has been reviewed
and approved by Mr. Andrei B. Yasinskij Chief Geological Advisor
for Supatcha Resources Inc., who is the "Qualified Person" as
defined by NI 43-101 for this project.
In addition, Supatcha is preparing a series of updates that will
be released in the coming weeks as part of its Investor Awareness
Program. Updates on the company via news releases, the website,
newsletter programs and conference calls will facilitate timely
updates to current and potential investors. Investors are
encouraged to sign onto the company site and register for the
newsletter mailing list, to be included in this program.
http://www.supatcharesources.com/signup.htm
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on
acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of
acquiring two additional gold mining projects, with world-class
potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration. We are not in control of metals prices and
these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form
10-KSB for the last reported fiscal year, our quarterly reports on
Form 10-QSB and other periodic reports filed from time-to-time with
the Securities and Exchange Commission.
SOURCE Supatcha Resources Inc.