|Thu Sep 16, 2010|
Sultan Minerals Commences Drilling On Gold And Copper Targets - Kena Property, BC
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that it has contracted Wade Critchlow Enterprises Ltd. of Salmo, BC, to drill test for gold and copper mineralization on its Kena Property. The 8,000-hectare Property is located in southeastern British Columbia, 60 kilometres northeast of the historic Rossland Mining Camp, BC's second largest gold camp.|
Drilling will focus on a 7.0-kilometre long belt of continuous gold and copper soil geochemical anomalies and a coincident Induced Polarization ("IP") geophysical anomaly which encompasses the Gold Mountain, Kena Gold and Kena Copper King Zones (see News Releases dated July 20 and September 8, 2010).
The Gold Mountain and Kena Gold Zones have been partially tested with 16,500 metres of drilling in 116 diamond drill holes. A preliminary, NI 43-101 compliant, resource estimate (June 7, 2004) shows the two zones have a combined measured and indicated resource of 381,000 ounces of gold at an average grade of 1.00 g/t gold, using a 0.5 g/t cut-off grade. There is an additional inferred resource of 389,000 ounces of gold at the same grade and cut-off. The mineralized area covered by this resource estimate remains open along strike and to depth and will likely be expanded by the current diamond drilling program.
From 2000 to 2003, Sultan diamond drilled 72 holes into the Gold Mountain Zone and surrounding area at the north end of the 7.0-km long geophysical and geochemical target. The drilling intersected broad zones of bulk tonnage style gold mineralization and narrower intersections with bonanza grade gold mineralization (i.e. 2.0 metres of 172.10 g/t gold). The following Table gives many of the bonanza grade drill and trench intersections achieved in the Gold Mountain Zone (previously reported in News Releases dated 2000 to 2003).
BONANZA GRADE GOLD INTERSECTIONS IN GOLD MOUNTAIN ZONE
These high-grade gold intercepts are often surrounded by broad haloes of bulk tonnage style gold mineralization. The following Table gives examples of many of the bulk tonnage drill intersections in the Gold Mountain Zone (previously reported in News Releases dated 2000 to 2003).
GOLD MOUNTAIN ZONE - BULK TONNAGE GOLD INTERSECTIONS
Note -- these results have been previously reported
Since 2004, Sultan has completed detailed airborne and ground magnetometer surveys and a recent economic-structural analysis by Dr. Jim Oliver on this zone (see news release dated September 9, 2009). The magnetometer surveys show a strong linear trend running through the Gold Mountain Zone and extending south along the 7.0-kilometre long gold and copper soil anomalies. This magnetic low feature likely represents alteration along a deep-seated fault structure. Follow up work by Dr. Jim Oliver suggests that this deep-seated structure is also the controlling feature for the emplacement of the wide-spread gold mineralization on the Kena Property. Dr. Oliver's conclusions state that: "Geological, geophysical and geochemical vectors clearly demonstrate that several, strong exploration targets exist within the Kena land package. Kena is a very significant and likely undervalued gold-copper occurrence."
The company has just completed enhanced 3D computer modeling of all geophysical, geochemical and geological information in order to better define the controls to mineralization. The current diamond drilling program will test for new areas of higher grade gold mineralization along the structural trends highlighted by the computer modeling process. Drilling will also test a large IP chargeability anomaly which hosts widespread copper mineralization, as reported recently on the Kena Copper King Zone (see News Releases dated July 20 and September 8, 2010).
Diamond drilling of the high grade gold targets has now commenced. Drilling is anticipated to be completed by mid October 2010.
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: Mon Oct 18, 2010, Sultan Minerals Confirms High Grade Gold Corridor at Kena Property, BC
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