|
Sterling Updates Phosphate Development in China - September 19, 2011
VANCOUVER, BRITISH COLUMBIA,
Sep 19, 2011 (MARKETWIRE via COMTEX) -- Sterling Group Ventures, Inc. (OTCQB: SGGV)(FRANKFURT: GD7) (the "Company") is pleased to provide the following corporate update.
The Company has opened an
office in Chenxi County and signed a technical service agreement with Huaihua Xiangxi Goldmine Design and Research Co. Ltd (Huaihua). Both Huaihua and Mr. Qin of Sterling have visited the Hongyu phosphate project
site in Hunan province. A mine design for the project as well as a mine safety evaluation is being prepared. These studies are expected to be completed around the end of October, 2011. The studies have to be
approved by different levels of government before work can begin. If all approvals including water and electricity agreements, are received promptly, the start of mine construction and immediate production from
development headings could begin around the end of the year.
The first stage of the mining plan will be 100,000 tons per year. Based on preliminary plan, the development method is expected to use an adit or
adits driven on the ore to provide access and raises to develop the ore. The room and pillar mining method will be used with the mine divided into sections. The run of mine ore is marketable and will be shipped to
the railhead by trucks.
The phosphate is a sedimentary deposit and occurs at the Jinjiadong Formation of Upper Sinian. The dip of the orebody is SEE at about 25 degrees. The phosphorite bed is made of
numerous siliceous phosphorite layers with thickness mostly 2- 6m. The grade is 19.8% P2O5 according to the Geological Exploration Institute of Chemical Industry, Hunan Province.
The Company has also
contracted to conduct a test to make biological phosphate fertilizer using phosphate ore from the Company's property. The key is culturing appropriate bacteria which can decompose phosphate. This test is expected to
be completed around the end of December. Biological phosphorus fertilizer is a new fertilizer market mainly used in organic farming such as organic vegetables.
This release has been reviewed and approved by Norman L. Tribe, P.Eng., a qualified person pursuant to National Instrument 43-101.
A comprehensive NI 43-101 report on the project is being prepared by Norm
Tribe, P.Eng, geological consultant and should be completed in the next several weeks.
ON BEHALF OF THE BOARD OF DIRECTORS
Raoul Tsakok, Chairman & CEO
For further information, please check the Company's SEC filings.
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not
limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of the mining related business. There can be no assurance that such statements
will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Cautionary Note to U. S. Investors Concerning Estimates of Measure, Indicated, and Inferred Resources and Reserves. Statements regarding resources and reserves have been based on audits conducted under Chinese
methods of calculation which the SEC guidelines strictly prohibit in its filings.
Contacts:
Sterling Group Ventures, Inc.
Raoul Tsakok
Chairman
(604) 689-4407
Sterling Group Ventures, Inc.
Richard Shao, PhD
President
(604) 689-4407
Sterling Group Ventures, Inc.
Robert Smiley, JD
Director
(604) 689-4407
(604) 408-8515 (FAX)
info@sterlinggroupventures.com
www.sterlinggroupventures.com
|
