|Mon Jan 11, 2010|
Sultan Minerals Identifies Two Priority Geophysical Targets on its HB Zinc Property, BC
|Sultan Minerals Inc. (SUL-TSX-V) ("Sultan") is pleased to announce that a recently completed magnetometer geophysical survey on its HB and Garnet Zinc Property has identified two, new, high priority, geophysical targets. The two targets lie adjacent to and along strike from the two historic mines. Together the two new targets rival the combined size of the two historic mines. The combined HB and Garnet mining operation was historically British Columbia's third largest lead-zinc producer. The two mines produced a total of 6,656,101 tonnes (7,337,095 tons) of ore at an average grade of 4.1% Zn, 0.8% Pb and 4.8 g/tonne Ag. (BC Geological Survey, Detail Production Report, MINFILE).|
The eastern magnetic anomaly is situated along strike to the north of the historic Garnet Zinc mine suggesting the possibility of an extension to the historic mine. This target is comparable in size to the former Garnet mine. The magnetic anomaly is believed to be caused by the mineral pyrrhotite which is locally associated with the zinc mineralization. The Garnet deposit was mined as an open cut and thus only gives a magnetic response over a remnant pillar at the south end of the deposit (see map).
The second geophysical target is situated 400 metres west of the Garnet Mine and trends parallel to both the Garnet and HB deposits. This target is more than 800 metres in length and is comparable in size to the combined Garnet and HB deposits. The target appears to be sub surface plunging to the north but may be exposed on surface at its south end.
Sultan has recently completed a program of geochemical sampling over the geophysical grid and results are expected shortly.
A large database of historical mine records including mine plans, mine sections, drill logs and geological maps was acquired with the property. Mr. Ed Lawrence, P.Eng., former Manager of Sultan's adjacent Jersey and Emerald Mines, is presently undertaking a review of the historical mine records.
Compilation of data, including new geophysical and geochemical results, and historic mine plans and diamond drill results, is currently under way to generate targets for testing by diamond drilling in the spring of 2010. With over $1.75 million in unallocated working capital Sultan is well positioned to commence its planned 2010 projects.
Perry Grunenberg, P.Geo., of PBG Geoscience managed the recent exploration program and is Sultan's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects".
For further information on Sultan's projects, visit www.sultanminerals.com.
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
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This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined 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 Sultan expects are forward-looking statements. Although Sultan 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 Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com.
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