|Wed May 7, 2008|
Metallics Gold Assay Increase Grade On Sultan Minerals' Kena Property, BC - Expanded Work Program Planned
Vancouver, BC - Sultan Minerals Inc. (SUL - TSX-V) ("Sultan") is pleased to report a second set of gold assay results for a deep drill hole completed in December on its 100%-owned, 8,000 hectare, Kena Gold Property in British Columbia. This drill hole, located centrally in the Gold Mountain Zone of the Kena Property, confirmed that gold mineralization extends from surface to a hole depth of 435.33 metres (1,428 feet) which is well below any previous drill intersections, as previously announced on February 27, 2008.
In follow-up to the original assays, eleven drill core storage samples were re-assayed for gold using the metallics gold assay method. The procedure involved pulverizing and screening one kilogram splits and assaying both the fine and coarse screened fractions. The following table compares the gold assays from the original fire assays processed with the new metallics assay results. As demonstrated by the table, metallics assaying of these eleven samples show an average increase in gold grade of 12%.
Due to the meaningful variance results from the metallics gold assays, additional samples are now being re-assayed in the laboratory and results are pending.
The 2007 drill results suggest that gold grades may extend well below the depth of previously drilling on the Gold Mountain Zone. The most recent test results suggest that gold grades may increase if the metallics assay technique is employed.
For full drill hole results from the fall 2007 diamond drilling program on the Gold Mountain Zone, see Sultan's News Release dated February 27th, 2008. From bedrock surface to a depth of 435.33 metres, diamond drill hole 07GM-01 assays 0.50 g/t gold over a core length of 430.0 metres (1,428 feet). Of particular interest is a 101.27 metre section that averaged 0.84 g/t gold from 230.73 to 332.00 metres all below the level of previous drilling on this target.
This hole was collared adjacent to a fence of previously drilled shallower holes which all show broad zones of gold mineralization remaining open to depth. Results from these prior drill holes include hole 01GM-01 with 1.16 g/t gold over 106 metres (from 8 to 114 metres depth); 01GM-02 with 1.00 g/t gold over 119 metres (from 6 to 125 metres depth); hole 01GM-03 with 1.87 g/t gold over 116.05 metres (from 8 to 124.05 metres depth); hole 01GM-04 with 1.01 g/t gold over 116 metres (from 18 to 134 metres depth); hole 01GM-05 with 1.03 g/t gold over 152 metres (from 14 to 166 metres depth) and hole 01GM-08 with 1.01 g/t gold over 186 metres (from 24 to 210 metres depth).
Permitting is now underway for Sultan's expanded 2008 work program on the Kena Property. Work will consist of additional drilling in the Gold Mountain Zone in order to test gold grade at depth. A series of trenches, followed up by diamond drilling is also planned for the Kena Gold-Copper Zone located 3.0 km south of Gold Mountain. Encouraging gold-copper results were obtained from a soil sampling and rock chip sampling program completed over this coincident gold and copper soil anomaly in 2007, (see News Release dated January 29, 2007).
The 2008 exploration program on the Gold Mountain and Kena Copper Zones will commence as snow conditions allow.
The Kena Gold Property is located 60 kilometres northeast of the historic Rossland Mining Camp, British Columbia's second largest gold camp. All aspects of the Company's project exploration program are supervised by Linda Dandy, P.Geo., a Qualified Person under National Instrument 43-101, "Standards of Disclosure for Mineral Projects." The program is being carried out in conjunction with the ongoing drilling program at the nearby Jersey-Emerald molybdenum, tungsten and lead-zinc property.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P. Eng., Geological
President and CEO
For further information, please contact:
Marc Lee, Investor & Corporate Communications
Telephone: (604) 687-4622 Fax: (604) 687-4212
Associate Account Manager
CHF Investor Relations
Phone: (416) 868-1079, Ext. 251
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. This release was prepared by Sultan management and no regulator authority has approved or disapproved the information contained herein.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.sultanminerals.com.
You can view the Next 2008 News Releases item: Mon Jun 2, 2008, Sultan Minerals Intersects 28.50 Feet of 3.98% Lead and 0.71% Zinc at its Sedex, Jersey-Emerald Property, Canada
You can view the Previous 2008 News Releases item: Tue Apr 29, 2008, Sultan Minerals Expands Tungsten Zone at its Jersey-Emerald Property, BC
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