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Sienna Resources is acquiring two past producing orogenic gold projects in Norway from EMX Royalty Corporation

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The Bleka and Vekselmyr Gold Projects are located in an underexplored greenstone belt in southern Norway with areas of historic gold production and documented gold occurrences.

Additional Information:

Company: Sienna Resources
Website: http://www.siennaresources.com
Stock Symbol: TSXV: SIE
Date Published: Aug 28, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Sienna Resources is acquiring two past producing orogenic gold projects in Norway from EMX Royalty Corporation.

The Bleka and Vekselmyr Gold Projects are located in an underexplored greenstone belt in southern Norway with areas of historic gold production and documented gold occurrences.

The Bleka Vein was discovered in 1880 and mined intermittently until 1940, with historic production reported as 165 kilograms or approximately 5,300 troy ounces of gold sourced from mineralized material with an average grade of 36 grams per tonne gold.

The Bleka project covers the historic mining area and swarms of similar veins that extend for at least three kilometers along strike.

The nearby Vekselmyr license covers outcropping gold mineralization in similar orogenic-style veins.

In order to earn its 100% interest in these two projects, subject to a 3% NSR, Sienna is issuing 500,000 shares, spending $250,000 per year for the next two years, reimbursing EMX certain costs, and issuing an additional 1.5 million shares at the end of the two-year option period.

Jason Gigliotti, President of Sienna states, “This is a tremendous opportunity for Sienna to acquire a high quality gold project in a politically stable, mining friendly jurisdiction. We have been searching for a high quality, high potential gold project and we feel these two new gold targets provide this to Sienna immediately. This gold belt has been underexplored and we plan to commence work right away. There is a 3 km unique vein swarm within this greenstone hosted orogenic plug with a folded nose formation. This area is highly prospective for gold and we plan to focus on this area. We are extremely optimistic about Sienna’s short and long term prospects when you factor this new project coupled with work expected to commence shortly on our Finland and Ontario projects at a time when we just closed an oversubscribed placement of 2 million dollars. Sienna will be very active at a time of historically high commodity prices, including gold recently making new all-time highs.”

In July the company released assay results from its 2020 drill program at its flagship Slättberg nickel-copper-PGE project, a historic mining camp hosting cobalt-nickel-copper rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines in southern Sweden.

The 2020 program consisted of three diamond drill totaling 708 meters drilled in two separate target areas and at greater depths than tested by previous programs.

All three holes intersected nickel-rich sulfide mineralization, including mineralization present in veins and in sulfide-matrix breccias, similar to styles of mineralization seen in earlier drill holes, demonstrating that mineralization continues at depth in key target areas on the property.

The shares are currently trading at $0.095.

For more information, please visit the company’s website at www.siennaresources.com, contact Jason Gigliotti, President, at 604-646-6900 or email info@siennaresources.com.

I’m Cassandra Bolinski for Investmentpitch Media