|Thu Nov 4, 2010|
Sultan Minerals Plans Expanded Drill Program For High Grade Gold Corridor Kena Property, BC
|Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce plans for an expanded diamond drilling program to test the high grade gold corridor identified by the recent drilling program on its Kena Property located in southeastern British Columbia. Final assay results from hole 10HG-05 have been received and show a broad low grade gold halo averaging 1.33 g/t gold over 25.12 metres including the previously reported high grade intersection of 6.19 g/t gold over 2.4 metres (See October 18, 2010 News Release). Assays are still pending for hole 10SG-05, located near the south end of the high grade gold corridor and for two copper zone holes that tested the Kena Copper King Zone (see September 8, 2010 News Release).|
Wide spaced drilling and trenching has demonstrated the presence of a high grade gold corridor that has now been intersected in 12 drill holes and one trench over strike distance of 5.65 kilometres. Sultan's geologists have been modeling the recent drill results and drill sections for lines 2100N and 900N are appended to this news release. The table below gives the gold assay values for the holes plotted on these sections.
The study shows that the gold mineralization along the high grade corridor occurs in steeply dipping alteration zones along the margins of a mafic dyke (see sections below). The mineralization consists of high grade gold veins that are often surrounded by an envelope of lower grade mineralization. The sections show that the gold mineralization has been traced from surface to a vertical depth of 60 metres in drill hole 10HG-05 and remains open to depth and along strike. Previous drilling in the adjacent Gold Mountain Zone demonstrated that the gold mineralization in that deposit extended to a vertical depth of 435 metres and remains open to depth. Sultan's geologists believe that the mineralization in the high grade corridor could extend to similar or greater depths and have very large tonnage potential.
The average gold grade for Sultan's 13 intersections within the mineralized structure is 15.65 g/t over a minimum 2.00 metre mining width. The elevated gold values lie within a silicified and often sericitic shear structure. This structure is marked by one or more intruded late mafic dykes making the gold structure easily traceable by geophysics and/or geological mapping.
Sultan is very pleased with the continuous nature of the gold mineralization along this deep-seated structural corridor. As is common in high grade deposits, gold values within the shear structure are consistently elevated although grades vary widely. Sultan's geologists recommend that additional drilling be carried out along the high grade gold corridor in order to investigate the mineralization at depth and along strike. This program will require infill drilling of 2 to 4 hole fans at 50 metre spacings along selected intervals of the 5.65 kilometre long corridor. Commencement of diamond drilling is contingent upon upgrading of permit conditions and completion of financing.
Assay results are pending for two diamond drill holes that have tested the 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 are expected in approximately one week.
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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