|Fri Sep 14, 2012|
Sultan Minerals Commences Airborne Lidar Survey Of Its Daylight Gold Property
|Vancouver, BC - September 14, 2012: Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that it has contracted Eagle Mapping Ltd., of Port Coquitlam BC to fly an aerial LiDAR survey over its Daylight Gold Property located on Toad Mountain near Nelson, British Columbia. The survey will assist Sultan to map mineralized zones at the four historic gold mines and two new showings on the property.|
The Daylight Gold Property covers 550 hectares of mineral claims and crown granted mineral claims located near Nelson, British Columbia. The property overlies four small historic gold mines that operated in the late 1890's and early 1900's. The historic mines have been owned by several individuals for many years and little exploration has been done since the mines closed in 1949.
The property adjoins the Kena Gold property where bulk tonnage, open pittable, intrusive related, gold mineralization has been discovered. Drilling is currently underway on the Kena property where a preliminary resource estimate shows a measured and indicated resource of 549,000 contained ounces (17 tonnes) of gold and an additional inferred resource of 513,000 contained ounces (16 tonnes) of gold using a 0.30 g/t Au cut-off. The mineralization remains open along strike and at depth (see Sultan News Release dated June 27, 2012).
Property work by Sultan on the Daylight Property includes geology, geochemistry, geophysics, and preliminary drilling. Historic mining results and recent exploration by Sultan suggests the mineralization on the property is comprised of broad zones of low grade gold mineralization often surrounding high-grade gold veins of varying sizes.
Work completed to date by Sultan has defined four gold bearing targets that require exploration. These are the Great Eastern Porphyry Gold Zone, the Starlight Shear Zone, the North Star Shear Zone and the Silver King Gold Corridor. Geological indications suggest that the property could have potential for sizeable, bulk tonnage, intrusive related gold deposits in the four target areas.
The Great Eastern Porphyry Gold Zone is a strong untested gold soil anomaly that is 1.1 km long and up to 500 metres wide located 100 metres west of the historic Great Eastern mine. The historic mine was intrusive hosted and workings focused on narrow high grade gold veins within a low grade gold stockwork.
The Starlight Shear Zone is host to the historic, Starlight, Victoria and Daylight gold mines. The zone is up to 50 metres wide and has been traced by IP geophysical surveys over a 3.0 km strike length.
The North Star Shear Zone lies 500 metres north of the Starlight shear. The zone is host to the historic North Star Workings and the Great Western Showing. The historic workings are located immediately west of the Daylight property and 500 metres along strike from each other. Historic trenching and drilling showed the mineralized shear zone is up to 54 metres wide. The best intersection in drill core is 7 metres which assayed 9.7 grams per tonne gold (Exploration in British Columbia 1988). The zone gives a prominent IP chargeability anomaly that has been traced on the Daylight property for 2.0 km southeast where it joins with the Starlight anomaly.
The Silver King Gold Corridor is located within the main Silver King Intrusive along the eastern margin of the Daylight property. The target is a string of strong gold anomalies that follow the trend of the intrusive. The soil anomaly is 1.0 km long and up to 300 metres wide. Immediately to the east on the adjoining Kena property high grade gold intersections have been discovered along a 7 km long corridor referred to as the High Grade Corridor.
The LiDAR survey will be flown using a Riegl VQ-480 laser scanner and airborne GPS/IMU. The results of the survey will assist Sultan to accurately trace out geological features on the ground and provide pin point accuracy for drill-hole locations. The survey will have 0.15 metre vertical accuracy and a 0.3 metre horizontal accuracy. The survey will commence immediately and results are anticipated to be available by October 1, 2012.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: firstname.lastname@example.org or email@example.com
For further information on Sultan's projects, visit www.sultanminerals.com.
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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