Sutter files mineral resource estimate at Sutter project
2006-03-06 20:21 ET - News Release
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Mr. Hal Herron reports
SUTTER GOLD ANNOUNCES NI 43-101 COMPLIANT MINERAL RESOURCE ESTIMATES FOR SUTTER GOLD PROJECT
Sutter Gold Mining Inc. has filed today a mineral resource estimate report conforming with National Instrument 43-101, Standards of disclosure for mineral projects. The mineral resource estimate report has been completed for the Sutter gold project following a comprehensive update of geological models in 2005.
The following table summarizes the indicated and inferred resources estimated for the Comet and Lincoln zones, and additional inferred resources identified to the north and south along the 3.2-mile length of the Sutter gold project:
MINERAL RESOURCE ESTIMATE
FOR SUTTER GOLD PROJECT
Tonnage Gold Gold
grade
(tons) (oz/ton) (oz)
Comet and
Lincoln zones
Indicated
mineral
resource 433,800 0.365 158,165
Inferred
mineral
resources A 121,700 0.345 42,016
Keystone,
Wildman-Mahoney,
Old Lincoln,
Central Eureka
Indicated
mineral resource 59,100 0.260 15,379
Inferred
mineral
resources A 51,700 0.232 12,001
Inferred
mineral
resource B 2,524,000 0.19 467,350
Sutter gold
project totals
Indicated
mineral
resource 492,900 0.352 173,544
Inferred
mineral
resources 2,697,400 0.193 521,417
Note:
Inferred resources are divided into A (derived from modern exploration drilling and underground development work in 1980s) and B (derived from pre-1980s historical data).
Geological continuities within the Comet-Lincoln vein systems are better understood as a result of this study. The zones of high strain, which host the gold-quartz vein mineralization demonstrate excellent geological continuity in both the drill cores and in underground development workings. Positive correlation between the 1 vein of the Lincoln zone and the Comet 42 vein has traced the structure for 2,500 feet along strike through four significant mineralized shoots.
A comprehensive study of the structural controls for gold mineralization along the entire 3.2-mile length of the Sutter gold project has identified common denominators that localized 10 historic oreshoots that accounted for the majority of the 2,343,000 ounces of past gold production recorded from the property.
Areas of inferred mineral resource at the peripheries of the Comet and Lincoln zones, and in areas to the north and south identified in historic data, provide excellent potential to expand the mineral resource base through additional core drilling. The report recommended a program of underground core drilling in the Comet and Lincoln zones to test areas of inferred mineral resource with infill and step-out holes to expand the indicated resource. The report also recommended a limited core drilling program, conducted from existing underground stations, to expand the indicated resource in the 4, 6, 26, 37, 40, 42, 43 and 50 veins.
The 2006 mineral resource estimate report for the Sutter gold project was completed by Sutter Gold's consulting geologist and qualified person, Mark Payne, PGeo, using traditional longitudinal sections. The mineral resource classifications are consistent with the CIM definitions referred to in National Instrument 43-101, Standards of disclosure for mineral projects.
Dr. Ross R. Grunwald, PhD, PGeo, is responsible for preparation and editorial review of all sections of the technical report. Dr. Grunwald is an independent qualified person as defined in National Instrument 43-101.
A complete copy of the mineral resource estimate has been filed and may be obtained on SEDAR. |
