|Mon Jun 21, 2010|
Sultan Minerals Commences Exploration to Expand The Gold Resource at its Kena Gold Property, BC
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce commencement of the 2010 Exploration Program on its Kena Gold Property, located in southeastern British Columbia. This exploration program will test two target areas, the Kena Gold and Kena Copper Zones with IP geophysical surveys and diamond drilling.|
The northern portion of the Kena Property contains "gold-only" porphyry style mineralization. A 2004 National Instrument 43-101 resource estimate reported a measured and indicated resource of 381,000 ounces of gold and an additional inferred resource of 389,000 ounces of gold. This resource is based on 115 drill holes and has 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). This resource is exposed on surface and remains open along strike and at depth.
The large Kena Property also contains significant copper-gold porphyry potential in its largely untested Kena Copper Zone which extends for 3.5 kilometres south of the gold porphyry zone, (see News Release dated November 3, 2008). The gold and copper-gold mineralization appears to be aligned along a strong, deep seated, 10 kilometre long structure identified by prior airborne geophysics. The gradation from gold to copper-gold mineralization may represent mineral zonation along the structure.
Geologic trends and strong geophysical and geochemical features indicate that the Kena Property's Gold Mountain, Kena Gold, Kena Copper and South Gold Zones all relate to the same feature and expansion drilling along the seven kilometre strike of the mineralized zones may substantially increase the current resource estimate.
Diamond drilling will investigate the size, depth and orientation of the higher-grade gold shoots in the Kena Gold Zone. Geophysics, followed by diamond drilling will also test the copper-gold potential in the Kena Copper/South Gold Zone area located between 1.0 to 3.5 kilometres south of the Kena Gold Zone. These target areas were identified in 2009 by geological mapping work conducted by Dr. Jim Oliver and were partially explored by an Induced Polarization (IP) geophysical survey completed in November 2009 (see news releases dated September 9 and November 19, 2009).
All permit approvals have been received for the initial program, which is budgeted at $500,000 and will include soil sampling, IP and magnetometer surveying, and diamond drilling. Drilling will test the best targets defined by the geochemical and geophysical surveys with priority being given to the strongest coincident copper-gold and IP geophysical anomalies.
The geochemical and geophysical surveys are anticipated to be completed by late June and diamond drilling to commence in early July.
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.
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
You can view the Next News Releases item: Tue Jul 6, 2010, Sultan Minerals Intersects Significant Zinc Mineralization at the HB Zone, Jersey-Emerald Property, BC
You can view the Previous News Releases item: Tue Jun 1, 2010, Sultan Minerals Completes Spring Drill Program at the HB & Garnet Zinc Mines, Jersey-Emerald Property, BC
You can return to the main News Releases page, or press the Back button on your browser.