|Tue Jul 20, 2010|
Sultan Minerals Defines Six Kilometre Long Geophysical Anomaly - Kena Gold Property, Bc
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that it has successfully completed an expanded Induced Polarization ("IP") geophysical survey on its Kena Property, located in southeastern British Columbia. The 16-line kilometre IP survey was carried out to help define drill sites within a large, bulk tonnage, porphyry gold-copper target identified in 2009.|
Preliminary results from this survey, combined with results from the 2009 IP survey (see News Releases dated September 9 and November 19, 2009), shows a continuous IP chargeability anomaly trending for an additional 2.5 kilometres south of the Gold Mountain and Kena Gold Zones. Results are currently being compiled and interpreted in order to define diamond drill targets.
The Gold Mountain and Kena Gold Zones contain a National Instrument 43-101 compliant resource with a measured and indicated resource of 381,000 ounces of gold and an additional inferred resource of 389,000 ounces of gold. This resource estimate 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 gold (see News Release dated June 7, 2004). This resource is exposed on surface and remains open along strike and at depth.
The southern extension of the IP Chargeability anomaly trends through the largely untested Kena Copper Zone and appears to be part of the same geophysical feature that hosts the gold mineralization. The Kena Copper Zone's geochemical signature indicates that it has significant copper-gold porphyry potential (see News Release dated November 3, 2008).
The gold and copper-gold mineralization on the Kena Property is aligned along a strong, deep seated, 10-kilometre long structure identified by prior airborne geophysics. This recent ground IP survey has confirmed that the mineralization found in the northern 6000 metres of the property is related to continuous geophysical features. Therefore, Sultan is hopeful that expansion drilling along the six kilometre strike of the mineralized zones will substantially increase the current resource estimate.
A 1500-metre diamond drilling program is planned to commence upon completion of the geophysical modeling and data compilation, which Sultan anticipates will be completed in approximately 3 weeks.
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
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