|Tue Feb 17, 2009|
Sultan Minerals Identifies Potential New Tungsten And Zinc Deposits At Jersey-Emerald, BC
|Sultan Minerals Inc. (SUL -- TSX Venture) ("Sultan" or the "Company") is pleased to announce the discovery of a new area of tungsten and zinc mineralization on its Jersey-Emerald Property in southeastern British Columbia. The mineralization, including assays of 5.0% zinc and 0.9% tungsten, was discovered at four widely spaced locations during a recent prospecting program on the 93 square kilometer property. Additional prospecting, trenching and a preliminary 350 metre diamond drill program are planned for 2009 to test this new discovery.|
The mineralization, situated approximately 2.0 km south of the historic Emerald Tungsten Mine, was discovered during a prospecting program designed to investigate a 4.0 square kilometer area of tungsten and zinc soil anomalies. The new discoveries referred to as the Lost Creek Zone add significantly to the potential of the property. They are important because they have potential to host mineral deposits comparable in size to the historic Jersey and Emerald Tungsten and Lead-Zinc-Silver mines. Soil anomalies for zinc and tungsten are comparable in size and metal concentrations to the anomalies seen over the two historic mines. The zinc and tungsten concentrations found in surface showings are comparable to values found in surface exposures of the Jersey and Emerald mines and are similar to the two mines which carry associated molybdenum concentrations.
Significant Zinc, Tungsten and Molybdenum assays obtained from the sampling program are given in the following table:
All samples were comprised of a series of random chip samples taken from mineralized outcrops and rock piles discovered by prospecting. The samples are not representative of a defined sample interval and are therefore considered to be "grab samples".
Samples 08POS-04, 08POS-05, 08POS-11 and 08POS-12 were taken from skarny laminations hosted within argillaceous sediments along the ridge top south of Lost Creek. Historic trenches (1970's) were noted at different locations along the ridge.
Samples 08POS-08 and 08POS-09 were taken from interpreted waste piles adjacent to a small historic adit, approximately 2000 metres northeast of the ridge top samples. These samples indicate the metal potential of the mineralized zone mined from this adit. The skarn banding that hosts this mineralization was noted to continue to the northeast of the adit.
The historic Jersey Emerald tungsten and lead-zinc mines were formerly owned and operated by Placer Dome. The Emerald Mine was Canada's second largest tungsten producer and the Jersey Mine was British Columbia's second largest lead-zinc mine. Sultan has recently completed 20,000 metres of diamond drilling, a scoping study, a mine planning study and a 12-month environmental baseline study as milestones towards reopening the Emerald Mine.
The highway accessible project is located 10 km south of the historic mining community of Salmo and has excellent infrastructure including power, water, an educated work force and a natural gas pipeline. The new discoveries highlight the potential of Sultan's large land package in this historic mining camp.
In September 2008, Sultan participated with Geoscience BC in a $542,000 Airborne Geophysical Survey centered on the Jersey-Emerald Property. The survey may provide information on the size and extent of the recently discovered mineralization as well as identify new exploration targets elsewhere on the 93-square kilometre property. Results of the survey are expected to be available in the spring of 2009.
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, who has reviewed and verified the contents of this news release. Mr. Ed Lawrence, P.Eng, former Manager of the Jersey and Emerald Mines under Placer-Dome, oversees all on-going diamond drilling programs for Sultan.
For further information on the Company's projects, visit www.sultanminerals.com
Arthur G. Troup,
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: email@example.com or firstname.lastname@example.org
This release was prepared by Sultan management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defines in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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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