Sino-Sud Resources announces the recent detection of additional gold oxide sectors in the companyâ€™s El Transito mining operations in Honduras.
Online PR News – 01-June-2012 – Guangzhou, China – Drilling in widely separated intervals, gold oxide was revealed in a variety of intersections at the El Transito site. The findings substantiate the companyâ€™s position in that there is a vast promise to further lengthen and enlarge the existence of the El Transito mine while recovering these further oxide supplies.
Additional drilling will be necessary to ascertain accurate depths and widths of the deposits. The initial drilling sites were the first in the long unused area which had been previously been inaccessible for exploratory drilling. This recent discovery indicates that the veins may reach further than previously thought.
Further investigation will be ongoing in this region as it is on an already approved mining charter with existing serviceable roads, communication and transportation networks so that further deposits can be promptly developed.
Sino-Sud recently revealed plans for a fall IPO on the Hong Kong exchange. Subject to regulatory requirements and due diligence under securities law, the preliminary target price is expected to be 100HDK ($13USD).
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