|Tue Apr 26, 2016|
Sultan Minerals Inc. Plans Sampling and Metallurgical Testing for High Grade Gold Mineralization on its Kena and Daylight Properties
|Vancouver, BC -- April 26, 2016: Sultan Minerals Inc. (TSX-V: SUL; "the Company, "Sultan") is pleased to report that its geologists have recommended a program of trenching, sampling and metallurgical testing of high grade gold zones on its Kena and adjacent Daylight gold properties.|
The 8000 hectare Kena and Daylight Gold Properties, located 90 km northeast of the historic Rossland gold camp in southeastern British Columbia, host advanced stage exploration targets plus several historic mines.
Diamond drill results show that the Kena property is host to two styles of gold mineralization; high grade veins and structures and large, lower grade, porphyry gold deposits. In April 2013, an updated NI43-101 resource estimate was prepared for the KGM (Kena/Gold Mountain Zone) bulk tonnage deposit by Gary Giroux, P.Eng, MASc. and Perry Grunenberg, P.Geo. The resource estimate shows a measured plus indicated resource of 25.28 million tonnes containing 490,000 ounces gold averaging 0.60 g/t Au and an additional inferred resource of 90.44 million tonnes containing 1,399,000 ounces Gold averaging 0.48 g/t Au, using a 0.30 g/t Au cutoff. Within the low grade mineralization are a series of high grade veins and shoots that remain open along strike and at depth (Apr 11, 2013, News Release).
EXAMPLES OF KENA HIGH GRADE GOLD ASSAYS*
Note: KGM = Kena/Gold Mountain Zone; HG = High Grade Corridor Zone
The Daylight Crown Granted claims located adjacent to the northwest margin of the Kena property are host to four historic high grade gold mines. The Daylight, Starlight, Victoria and Great Eastern mines operated intermittently from 1898 to 1949 working narrow but high grade gold deposits, BC Minfile numbers: 082FSW172, 173, 174 and 175. While searching for large bulk tonnage deposits Sultan has also carried out limited prospecting and sampling programs on the Daylight property. This work successfully confirmed the grades of the historic deposits and discovered a number of new zones with significant gold grades. The highlights of the Daylight sampling programs are tabled below:
SURFACE CHIP SAMPLES FROM THE DAYLIGHT AREA*
Sultan's geologists recommend that the company focus on the high grade gold targets. A work program consisting of trenching the high grade structures and collecting samples for metallurgical testing is proposed. Upon success from the trenching and metallurgical test work, a series of 200 tonne mini-bulk samples will be taken from several locations. This mini bulk sampling program will be followed by extraction of two 9,000 tonnes bulk samples from the most promising areas on both properties. These bulk samples will be shipped to a nearby processing facility to determine gold recoveries. Target recoveries for the bulk samples are >5.0 g/t gold.
Upon successful completion of the bulk sampling program a close spaced definition diamond drilling program will define the zones in order to attain information required for a 250 tons/day mining permit.
The proposed budget for the initial trenching and metallurgical sampling program is $53,500. The budget for the phase 2 mini bulk sampling program is $436,000. The proposed work programs are subject to financing.
Linda Dandy, P.Geo, director, is the "Qualified Person" for the company who has prepared, reviewed and verified the technical contents of this news release for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
President and CEO
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
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: Wed May 11, 2016, Sultan Minerals Engages PBG Geoscience Ltd for its High Grade Gold Projects in BC.
You can view the Previous News Releases item: Wed Mar 30, 2016, Sultan Minerals and Margaux Resources Amend Option Agreement on the Jersey-Emerald Project in Southeastern B.C.
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