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Additional Information
Market: TSX
Sector: Gold Mining
EPIC: SCM
Latest Price: 0.18  (2.86% Ascending)
52-week High: 1.12
52-week Low: 0.15
Market Cap: 8.38M
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Sacre-Coeur Minerals
www.scminerals.com

Sacre-Coeur Minerals, Ltd. is engaged in the acquisition, exploration and development of Properties for the potential mining of gold, metals and diamonds in South America, initially focusing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 1,013 square kilometers of mineral properties in Guyana, including the flagship Million Mountain project in north-central Guyana consisting of 21 permits covering some 21,768 acres in the Mazaruni Mining District.

Full Sacre-Coeur Minerals profile here
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Sacre-Coeur Minerals cuts land position to cut costs and sharpen focus

5th Jan 2009, 12:00 am

Mining exploration junior, Sacre-Coeur Minerals (TSX-V:SCM) announced that it had trimmed its land position in Guyana by 57% to cut overheads and sharpen its focus on the company’s most prospective ground. Sacre-Coeur, like many other juniors, has taken action to help it conserve cash whilst still holding onto its most strategic assets. 

The company has already indentified a 43-101 compliant gold resource at its flagship Million Mountain Project, and today confirmed that it would continue to focus on some 1013 square kilometres of ground in five regional blocks, down from 2,360 square kilometres held in seven region blocks previously. The move would also save the company some $308,557 per annum in land rental fees.


Irwin Olian, CEO of the Company, said the move would allow Sacre-Coeur to economize on costs while and focus on its priority targets:


“The current property reductions reflect the extensive work done by our outstanding exploratory team in Guyana over the past three years, overseen by Gregory B. Sparks, P.Eng., Senior V.P.  We have successfully identified those areas within our portfolio meriting further work and expenditure of funds, while dropping areas with only limited potential.  The result is a more streamlined property portfolio which will enable us to focus now on our priority targets while economizing on our costs.”


“Our current 1,013 sq km portfolio contains all of the significant targets we have identified in the five regional blocks we now deem to have the greatest potential and represents a significant opportunity for us to create shareholder value. Future work will focus on drilling and development within our portfolio, as opposed to grassroots exploration which previously took up much of our attention. We remain particularly excited about the Million Mountain Gold Project in the Lower Puruni Region, and now have two diamond drills on site recommencing drilling activities after the Holiday break.”

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