Sutter Gold Intersects Three New Zones in First Five Core Holes
Thursday September 14, 1:53 pm ET
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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 14, 2006) - Sutter Gold Mining Inc. (TSX VENTURE:SGM - News) is pleased to report three new mineralized zones were intersected, plus significant extensions to four shoots hosting previously reported Indicated Mineral Resources (March 2006 NI 43-101 Tech Report) were discovered.
Assay highlights were previously reported in an August 31, 2006 press release for Holes 163 through 167. Four of the first five holes targeted three known shoots within the 40 and 42 Veins, with the intention of upgrading Inferred Resources to the Indicated category. One of the first five holes (166) was unplanned and targeted the north strike extension of barren mineralization cut in the 31 Vein (Hole 163), which exhibited deformation of late porphyroblastic overgrowths, a feature which has proven to occur within approximately 10 meters of most oreshoots within the Comet Veins.
The three new mineralized deposits are described as follows:
The first new discovery lies within a 200 foot long by 300 foot high area along the steeply-eastward dipping 20 Vein between cross-sections 2200N and 2400N, identified in Holes 164 (23.5 ft @ 0.207 oz/ton) and 165 (10.0 ft @ 1.208 oz/ton).
The second new zone is located within a 500 foot long by 100 foot high area in the 31 Vein between cross-sections 2200N and 2600N, which has been cut in Hole 166 (6.0 ft @ 0.275 oz/ton) between previous Holes 73 (5.0 ft @ 0.145 oz/ton) and 141 (6.0 ft @ 1.616 oz/ton).
The third zone is an estimated 110 foot strike length of mineralization in the 26 Vein, intersected in Hole 166 (9.0 ft @ 2.173 oz/ton), which is untested at depth along a 700 foot unexplored strike length.
Thus far, the step-out drilling has identified extensions to previously announced Indicated Resources in the 40, 42, and 44 Veins, and 42-47 Vein junction shoot. Mineralization in the 40 Vein shoot between cross-sections 2100N and 2400N has been extended an additional 40 feet up-dip along a 300 foot strike length. The 42 Vein shoot between cross-sections 2100N and 2400N has been extended an estimated 40 feet up-dip along a 250 foot strike length. The 44 Vein shoot between cross-sections 2100N and 2400N has been extended an estimated 50 feet up-dip along a 200 foot strike length. The 42-47 Vein junction shoot between cross-sections 1800N and 2100N has been extended an estimated 75 feet down-dip along a 250 foot strike length by Hole 167.
Holes 163 through 167 have continued to demonstrate excellent geological continuity along the veins of the Comet Zone and within the new shoots. Updated mineral resource estimates for these zones will be announced once duplicate fire assay results are obtained and grade continuity can be more firmly established. The geological interpretation for Holes 163 through 167 suggest the possibility that significant additions to the Indicated and Inferred Mineral Resource base for the Comet Zone can be expected as the underground drilling program continues.
The Sutter Gold 2006 core drilling program is planned and supervised by Mr. Mark Payne, P.Geo. Calif. 7067, the Qualified Person for the Sutter Gold Project, as defined by NI 43-101, and has reviewed this release.
The Company also reports that it issued stock options to its directors, officers, consultants and employees for a total of 1.875 million options to purchase common shares at an exercise price of 35 cents per share for a period of five years, expiring August 16, 2011.
About Sutter Gold Mine
The Sutter Gold project contains a 3.2 mile segment of the Mother Lode belt from which 10 historic mines produced 2.3 million ounces of gold. The historic mines bracket a one-mile-long portion of the Mother Lode belt with no historic gold production and which contains the Lincoln and Comet zones. The Lincoln and Comet zones were blind discoveries that did not outcrop at surface and which represent the first significant new gold discoveries made along the Mother Lode belt in the last 50 years. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 85,085 feet of drilling have been accomplished in 190 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus five raises. The historic gold production was documented in a detailed report completed by Mark Payne, the consulting geologist to Sutter Gold and a qualified person as defined by National Instrument 43-101. Further information is available at the Company's website at www.suttergoldmining.com.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 856-9271
hal@usnrg.com
www.suttergoldmining.com
Kirk Gamley
Contact Financial Corp.
President
(604) 689-7422
kirk@contactfinancial.com
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Source: Sutter Gold Mining Inc. |
