|Tue Mar 23, 2010|
Sultan Minerals Announces 2010 Exploration Program For Its Kena Gold Property, BC
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce its 2010 Exploration Program on its Kena Gold Property, located in southeastern British Columbia. The program is designed to test the gold and copper-gold potential in the area south of the Kena Gold Zone. These target areas were identified by geological mapping work conducted by Dr. Jim Oliver and by the IP geophysical survey completed in November. (Please see news releases of September 9 and November 19, 2009).|
The initial program is budgeted for $500,000 and will include soil sampling, IP surveying, excavator trenching and diamond drilling. The soil sampling will be done where gaps of existing data require infill to better establish the limits of the gold and copper geochemical anomalies. Trenching and drilling will test the best targets defined by the geochemical and geophysical surveys (in conjunction with historic data), Priority will be given to the strongest soil geochemical anomalies, especially coincident copper-gold anomalies that coincide with IP geophysical anomalies.
The Kena Property contains two areas of porphyry style gold mineralization - the Gold Mountain and Kena Gold Zones, which were the subject of a National Instrument 43-101 resource estimate in 2004 co-authored by G.H. Giroux, P.Eng., MASc. and Linda Dandy, P. Geo. The two zones have a measured and indicated resource of 381,000 ounces of gold and an additional inferred resource of 389,000 ounces of gold. The deposits have an average grade of 1.0 g/t gold using a cut off grade of 0.50 g/t (see News Release of June 7, 2004).
Geologic trends and strong geophysical and geochemical features indicate that the two gold zones relate to the same features and infill drilling between the zones may substantially increase the current resource estimate. These features also extend beyond the limits of the Gold Mountain and Kena Gold porphyry mineralization, most predominantly toward the south where a third gold zone (the South Gold Zone) lies 3 kilometres away.
In conjunction with the porphyry gold mineralization, the large Kena Property also has significant copper porphyry potential in its Kena Copper Zone (see News Release dated November 3, 2008), and gold-silver vein style mineralization at its historic Euphrates, Victoria, and Starlight Mines. The gold, copper and gold-silver mineralizations are each believed to be related to individual mineralizing events.
The exploration program is expected to commence in early June and should take a couple of months to complete.
Linda Dandy, P.Geo., is the project supervisor and "Qualified Person" for the purpose of National Instrument 43-101, who has reviewed and verified the contents of this news release.
For further information on Sultan's projects, visit www.sultanminerals.com.
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
Email: email@example.com or firstname.lastname@example.org
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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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