|Mon Oct 18, 2010|
Sultan Minerals Confirms High Grade Gold Corridor at Kena Property, BC
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce assay results from diamond drilling on its Kena Property located in southeastern British Columbia. Diamond drilling tested both high grade gold mineralization and porphyry style copper-gold mineralization. The gold mineralization was tested with six drill holes in three locations along a strong, 7-kilometre long structural corridor. Initial assay results have been received from five holes drilled at two of the three drill locations, stepped-out from prior drill holes that returned significant gold grades. The results confirm the presence of a high grade gold corridor that has now been intersected by wide spaced drilling and trenching over a 5.65 kilometre length.|
The table below shows the previous, pending and new assay values from 13 drill holes and one trench, that have tested this gold bearing structural corridor. Assays are reported from north to south (see map).
GOLD ASSAY RESULTS FROM 7 KILOMETRE LONG STRUCTURAL CORRIDOR
* previously reported (see News Releases dated December 4, 2003 and January 9, 2002)
Sultan is very pleased with the continuous nature of the gold mineralization along this deep-seated structural corridor. As is common in high-grade gold deposits, values within the shear structure are consistently elevated, although grades vary widely. The average gold grade for these 14 intersections, within the mineralized structure, is 15.65 g/t over a minimum 2.00 metre mining width. These drill holes all lie along the same northwest-southeast trending structure lying to the west of the previously reported Gold Mountain and Kena Gold Zone deposits (for resource estimate see News Release dated June 7, 2004). This mineralized structure has been traced by geophysics over a 7-kilometre strike length. The three recent wide-spaced drill sites test 5.65 kilometres of the strike length but only to shallow depths. Sultan's consultants recommend that the next phase of drilling along this gold-bearing structure should focus on defining a resource along the northern 2.4 kilometres of this structure. This program will require infill drilling of 2 to 4 hole fans at 50 metre spacings along the length of the structure.
Assay results for half of drill hole 10HG-05 and for hole 10SG-05 are still pending. Hole 10SG-05, located 5.65 km south of hole 10HG-01, is a 75-metre step-out hole from previously reported hole 02SG-04. Holes 10SG-05 and 02SG-04 are located along the same deep-seated structural corridor as the other holes listed in the above table. Assays are pending for hole 10SG-05, but this hole intersected the same easily identifiable shear structure that assayed 12.63 g/t gold over 2.0 metres in Hole 02SG-04.
Two diamond drill holes have also been completed to test coincident large IP chargeability and copper soil geochemical anomalies, which reflect widespread copper-gold mineralization in the Kena Copper King Zone (see News Releases dated July 20 and September 8, 2010). Pending assay results for these two copper zone holes and the remaining gold target holes are anticipated within the next two 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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