Archive for June, 2011

Cinro Resources Inc. retains Ernst & Young Ltda. to setup a branch in Colombia.

TORONTO, CANADA, May 26, 2011 – Cinro Resources Inc., (the “Company” or “Cinro”) a Canadian exploration company dedicated to the exploration of precious metals and polymetallic deposits in South America and Canada is pleased to announce that it has retained Ernst & Young Ltda to setup a branch of Cinro Resources Inc., in Colombia to be used exclusively for acquiring mining assets. Colombia is well-endowed with minerals and resources and is one of the most active exploration regions on earth and has become one of the exploration „hotspots‟ for gold exploration, becoming a rather bigger player in the mining sector in South America. Cinro Resources sees this as an opportunity to expand its interest in mineral exploration and mining in South America.
Cinro Resources currently has a number of mining permits in Guyana, S.A., which plans for exploration are currently being put in place.

“We are quite pleased and excited to have made this move, we believe this move will reward us tremendously in the very near future”, says its Chairman and CEO.

For further information, please visit our website at www.cinroresources.com or contact Mr. Frank Williams at (416) 913-1197.

Technical Summary on Eagle Mountain Gold Deposit, Potaro Guyana and possible Structural relation to Cinro Resources Potaro Group of Properties

The Eagle Mountain Gold deposit is located in the Potaro district of Guyana within the Guiana Shield. The property is situated five miles from Mahdia which is a paleochannel that have over the years produced over +500,000 ounces of alluvial gold. The deposit is approximately 20km NW of the Potaro Properties on the same structural trend.

The Eagle Mountain area occurs within Palaeoproterozoic greenstones of the Guiana Shield. A composite granodiorite pluton intruding the greenstone rocks hosts most of the known gold mineralisation on the property. Barren post-mineralisation dolerite dykes and sills dated at 1.6-1.8 Ga are believed to be the youngest rocks in the area (Gibbs & Barron 1993), although a suite of undated post-mineralisation porphyry dykes have also been recognized locally. This similarly exists within the Potaro properties with the younger granites intruding the greenstones which are known to host most of the mineralization within the regional area (see map below).

Alluvial gold has been exploited in the Eagle Mountain area since 1884, with commercial exploration starting in the period 1947-1948 (Anaconda British Guiana Mines Ltd). The Geological Survey of Guyana, which eventually became the Guyana Geology and Mines Commission, carried out a number of subsequent exploration phases until modern systematic exploration commenced in 1988 (Golden Star Resources Ltd). Omai Gold Mines Ltd acquired ownership of the property in late 1998.

Most of the gold mineralization at Eagle Mountain is related to low-angle (20-40), southwest dipping shear zones hosted in granodiorite. Four main mineralized shear zones have been identified: the Saddle, Zion, Kilroy and Millionaire zones. These structures are interpreted to cross-cut the aforementioned west-dipping thrust faults that bound the epidote, sericite and chlorite altered granitoid domains.
Series of late ENE-striking cross-faults offset the low-angle mineralized zones, but with negligible impact on interpreted mineralization. There is a possibility that mineralization decreases in intensity outside the two late faults that bound the Zion-Saddle area (Anne’s and Saddle Faults; Map below). These structures are separated by approximately 800m.

Sporadic gold and molybdenum occurrences have been identified west of the north-east trending Minnehaha Fault and potentially represent a separate mineralisation phase.

At Cinro Potaro properties, the regional NW trending structure passes through these properties with this major trending structure cross-cut by smaller, possibly mineralized?? ENE and NE trending structures that are seen at the Eagle Mountain gold deposit. Much work needs to be done on the ground in terms of Geophysics to clearly identify these structures followed by Geochemistry to determine if these structures are indeed mineralized on Cinro Potaro Properties.

Cinro Resources Inc. currently has a LOI with Joseph Adams the owner of the Potaro Properties within Guyana and is currently looking at having a number of programs done to define the mineralization of these properties. The company is in the process of reviewing having an Aeromagnetic airborne survey done for the properties and is currently in talks with GeoTech Inc out of Canada who at the moment have a team in Guyana doing a number of surveys for Junior Canadian and Australian Exploration companies. The company also in the immediate future will be commissioning a NI43-101 Technical report for the property and is in the process of sending in a reconnaissance team to the site.