|Wed May 5, 2010|
Sultan Minerals to Drill Zinc Targets at the HB & Garnet Zinc Mines, Jersey-Emerald Property, BC
|Sultan Minerals Inc. (SUL-TSX-V) ("Sultan") is pleased to announce commencement of exploration on the HB and Garnet zones of its Jersey-Emerald Property. Ground geophysical and geochemical surveys completed in 2009 indicate the presence of extensions and parallel zones of lead-zinc mineralization away from the historically mined areas (see News Release of January 14, 2010).|
Sultan has received its exploration permit to allow for trenching and drilling within the HB-Garnet mines area of the large, 18, 000-hectare, Jersey-Emerald property. Critchlow Diamond Drilling of Salmo, BC, has been contracted to complete up to 1500 metres of drilling commencing later this month.
Targets for drilling have been defined by elevated lead and zinc in soil geochemistry coincident with elevated magnetic response. The magnetic data is currently being analyzed by Peter E. Walcott and Associates to assist with target definition and drill-hole placement. Of particular interest to Sultan is a 900 metre long magnetic anomaly that is located approximately 250 metres west of the historic mine workings. Coincident lead and zinc soil anomalies suggest potential for lead-zinc mineralization in an area that has never been drill tested.
Sultan's consultants continue to process the large database of historical mine records, including paper-drafted mine plans, mine sections, drill logs and geological maps that were acquired with the property. Mr. Ed Lawrence, P.Eng, former Manager of Sultan's adjacent Jersey and Emerald Mines, is undertaking a review of the historical HB and Garnet mine records. Preliminary inspection of this information suggests that the south end of the Garnet zinc deposit remains open and may extend to the south far beyond the previous mining operations.
The Jersey Emerald property now includes the Jersey Mine and the HB-Garnet Mine; collectively the second and third largest lead zinc mines in BC's history. Sultan recently published a NI43-101 resource estimate for the lead zinc from the Jersey Emerald property, (please see News Release of March 1, 2010) showing an indicated resource of 1,900,000 tons averaging 1.96% lead and 4.10% zinc using a cut-off grade of 3.5% combined lead-zinc. There is an additional inferred resource of 4,980,000 tons averaging 1.95% lead and 3.37% zinc at the same 3.5% combined cut-off grade. The deposit is comparable in grade to the historic mine and is surrounded by a large low grade resource with an indicated resource of 5,320,000 tons averaging 1.04% lead and 2.60% zinc and an inferred resource of 16,930,000 tons averaging 1.00% lead and 2.18 % zinc using a cut-off grade of 1.5% combined lead-zinc.
Perry Grunenberg, P.Geo, of PBG Geoscience, manages exploration on the Jersey-Emerald project and is Sultan's 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.
Arthur G. Troup, P.Eng., Geological
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
Email: email@example.com or firstname.lastname@example.org
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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