|Tue Nov 18, 2008|
Sultan Minerals Expands East Emerald Tungsten Zone at Jersey-Emerald Property, BC
|Sultan Minerals Inc. (SUL:TSX-V) ("Sultan" or "The Company") is pleased to report assay results for 13 diamond drill holes, ES08-02 through ES08-14, on its 100% owned Jersey-Emerald tungsten-molybdenum property in southern British Columbia. The 13 holes explored the East Emerald Tungsten zone, a sizeable body of low-grade, bulk tonnage, tungsten mineralization discovered by drilling in 2006 and 2007 (see News Releases of Jan 17, 2007 and April 15, 2008). Results are very favourable. The holes confirm continuity between the previous wide spaced drill holes and show extensions of the mineralization to the north and west.|
The most striking tungsten intersections were obtained from Hole ES08-13 which carried 0.24% WO3 over a core length of 105.4 feet and Hole ES08-07 which carried 0.46% WO3 over a core length of 17.4 feet. Significant intersections from holes ES08-02 through ES08-14 are given in the following table:
Note 2: Intersection angles vary from 15° to 90° suggesting that the true width of the mineralized horizons range from 25% to 95% of the intersection widths.
Sultan has now intersected the East Emerald Tungsten zone in 39 drill holes that confirm the continuation of the tungsten mineralization over a length of 3,300 feet (1,000 metres) and a width of 700 feet (200 metres) (see News Release of April 29, 2008). The drill results continue to show multiple horizons of 0.25% to 0.60% tungsten mineralization contained within wide zones of lower grade mineralization averaging 0.10 to 0.25% WO3. Many of these holes carry significant molybdenum (MoS2) concentrations within the same horizons as the tungsten. The mineralization remains open to the north, south and west.
Sultan has four additional surface drill holes planned for the current round of drilling and is completing a program of trenching and surface prospecting over the south end of the Jersey-Emerald property. Results for an updated tungsten resource estimate being carried out by Giroux Consultants are expected to be available shortly. The price of tungsten has remained relatively stable at $250/MTU for APT concentrate (as of Oct. 31, Metals Bulletin).
With more than $2,000,000 in working capital in the treasury Sultan is well positioned to complete the work programs planned for its projects.
Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project supervisor and "Qualified Person" as defined by NI 43-101, "Standards of Disclosure for Mineral Projects". Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines for Placer-Dome, oversees the on-going diamond drilling programs.
For further information on Sultan'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
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: firstname.lastname@example.org or email@example.com
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 regulatory 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.
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