|Fri Jan 15, 2010|
Sultan Minerals Discovers Potential for large Extensions to the HB & Garnet Zinc Mines at its Jersey-Emerald Property, BC
|Sultan Minerals Inc. (SUL-TSX-V) ("Sultan") is pleased to announce that a recently completed soil geochemical survey over the HB and Garnet Zinc zones on its Jersey-Emerald Property shows potential for extensions and parallel zones of lead-zinc mineralization. Analytical results identify multiple zinc anomalies where many samples exceed 10,000 ppm, the upper limit of laboratory detection. |
The principal soil anomaly is centered over the Garnet Zinc Mine but extends far beyond the original deposit. This strong, 900 metre long, lead and zinc anomaly extends for 300 metres to the north and 300 metres to the south of the historic Garnet workings and remains open to the south. The north end of the soil anomaly partially overlaps with a magnetic geophysical anomaly which is believed to be reflecting mineralization at depth.
Two parallel soil anomalies lie to the west of the Garnet Mine suggesting potential for additional lead-zinc mineralization in an area that has never been drill tested. The western most soil anomaly coincides with the southern end of a strong magnetic geophysical anomaly that is believed to plunge to the north (see News Release of January 11, 2010) where it exists below surface for a distance of 900 metres beyond the zinc soil anomaly.
Several areas of elevated lead and zinc concentrations occur to the east of the Garnet zone. These areas are believed to be reflecting surface exposures of the HB Zinc deposit and the associated mine workings.
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. Preliminary inspection of this information confirms the soil results and suggests that the south end of the Garnet zinc deposit remains open and may extend to the south far beyond the previous mining operations.
Compilation of this geochemical data, with the recently reported geophysical results and historic mine plans and diamond drill results, is presently underway. Targets generated by this work will be tested 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.
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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.
You can view the Next News Releases item: Wed Feb 3, 2010, Sultan Minerals Anticipates Significant Lead Zinc Resource Estimate for its Jersey Emerald Property, BC
You can view the Previous News Releases item: Mon Jan 11, 2010, Sultan Minerals Identifies Two Priority Geophysical Targets on its HB Zinc Property, BC
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