Sultan Minerals Intersects 28.50 Feet of 3.98% Lead and 0.71% Zinc at its Sedex, Jersey-Emerald Property, Canada
Mon Jun 2, 10:00 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2008) - Sultan Minerals Inc. (TSX VENTURE: SUL.V)(FRANKFURT: RZN.F) ("Sultan") has now received assays for surface drill holes JS07-48 through JS07-61 on its 100% owned Jersey-Emerald tungsten-molybdenum and lead-zinc property in southern British Columbia. Five of the 14 widely spaced holes together with the 27 holes reported in March demonstrate that lead-zinc mineralization extends well beyond the limits of the historic mining operation at Jersey.
Drilling sought to determine the extent of lead-zinc beyond the southern end of the historic Jersey mine, formerly BC's second largest lead-zinc mine. Very favourable results were obtained from five of the holes which intersected encouraging lead and zinc concentrations as far as 400 feet (122 metres) south and 450 feet (137 metres) east of the former mine workings. These results together with assays reported in March have successfully defined a 7,000-foot (2,100-metre) long corridor along the east margin of the Jersey Mine that is prospective for lead and zinc mineralization. The prospective corridor remains open to the south and east suggesting potential for large extensions to the historic Jersey Zinc Mine (See News Releases of March 13 and March 27, 2008).
Significant lead, zinc and silver intersections from the five drill holes are given in the following table:
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DRILL-HOLE GRID GRID AZMTH FROM TO WIDTH Pb Zn Ag
NUMBER North East /DIP (feet) (feet) (feet) (%) (%) (g/t)
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JS07-48 3620 7670 000/-90 18.00 46.50 28.50 3.98 0.71 11.50
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and 95.00 103.00 8.00 0.32 1.68 2.20
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JS07-49 3475 7672 000/-90 28.00 77.10 49.10 1.46 1.70 6.50
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Including 89.80 91.30 1.50 3.83 0.14 10.20
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and 100.60 104.30 3.70 0.19 2.50 3.30
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JS07-50 3323 7632 000/-90 49.00 66.15 17.15 0.25 1.43 1.13
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Including 49.00 62.20 13.20 0.31 1.77 1.10
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JS07-53 3673 8105 000/-90 107.00 117.20 10.20 0.05 1.34 1.48
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Including 113.30 117.20 3.90 0.13 3.34 2.10
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and 537.60 568.00 30.40 0.28 1.87
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JS07-56 2995 7103 000/-90 110.10 115.10 5.00 0.37 3.08 4.70
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and 118.30 130.00 11.70 0.13 1.38 2.37
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including 118.30 124.00 5.70 0.19 1.97 2.80
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Note 1: All dimensions and core lengths are recorded in feet in order that
results are compatible with the historic mine grid and the
existing 5 databases of 5,600 drill holes. Convert feet to metres
by multiplying by 0.304.
Note 2: Drill hole intersection angles vary from 40 degrees to 85 degrees
suggesting that the true width of these intersections may range
from 60% to 95% of the drill core intersection length.
Note 3: Drill Holes JS07-51, JS07-52, JS07-54, JS07-55 and JS07-57 through
JS07-61 were drilled south and west of the Jersey Mine workings
where they tested the footwall rocks to the deposit. The holes
carried no significant values.
Three drill holes, JS07-48, JS07-49 and JS07-50 were drilled at 150-foot intervals along the east side of the D-zone pit, to test for extensions of the lead-zinc mineralization. This zone was extensively oxidized to a depth of 50 feet or more and the oxide could not be recovered by diamond drilling. The results from these holes demonstrate an eastern extension of the Jersey deposit but are not representative of the true grade of the mineralization.
Drill hole JS07-53 was drilled 450 feet east of the D Zone pit to explore for a possible eastern extension of the Jersey Lead-Zinc Deposit. The hole was also designed to test for a possible southern extension of the East Dodger Tungsten Deposit. The Pb and Zn values found in this hole are encouraging and need further review and follow up drilling.
Drill hole JS07-56 tested the southern continuation of the Lower Jersey Lead-Zinc horizon. These results are encouraging and will require future follow up.
These five drill holes together with the 27 holes reported in March demonstrate that lead-zinc mineralization extends well beyond the limits of the historic mining operation at Jersey.
Drill holes JS07-53 and JS07-60 intersected zones of tungsten and molybdenum in the formations located below the favourable lead-zinc horizon.
Significant tungsten and molybdenum intersections from these holes at Emerald are given in the following table:
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DRILL-HOLE GRID GRID AZMTH FROM TO WIDTH WO3 MoS2
NUMBER North East /DIP (feet) (feet) (feet) (%) (%)
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JS07-53 3673 8105 000/-90 378.80 405.05 26.25 0.07
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Including 383.90 398.00 14.10 0.10
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Including 383.90 390.40 6.50 0.14
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JS07-60 6535 6330 55/-50 72.0 94.00 22.00 0.05
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Including 72.0 74.6 2.60 0.23
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and 128.6 132.9 4.30 0.05
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The tungsten mineralization intersected in drill hole JS07-53 is situated 2,800 feet south and along strike from hole JS07-25 which intersected 0.65% WO3 over a core length of 14.2 feet. The intersections show a 3,200 foot long, north-south, corridor situated south of the historic East Dodger Tungsten Mine that has potential to host important tungsten mineralization.
Drill hole JS07-60 lies 2,500 feet west of the East Dodger Molybdenum Zone and may represent the western end of this recently identified molybdenum zone.
Assays are pending for a further 12 underground drill holes recently completed on the East Dodger Molybdenum Zone. In June and July 2007 underground drilling on the East Dodger Zone intersected important molybdenum mineralization over widths ranging from 160.00 to 548.0 feet. Intersections included 0.21% molybdenum sulphide (MoS2) over a core length of 160.0 feet, 0.12% MoS2 over 311.0 feet, 0.10% MoS2 over 548.0 feet and 0.18% MoS2 over 90.0 feet. The holes also intersected several higher-grade sections that included 0.28% MoS2 over a core length of 79.9 feet, 0.41% MoS2 over 60.0 feet, 0.23% MoS2 over 43.0 feet and 1.81% MoS2 over 9.9 feet.
Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines under Placer-Dome, oversees all on-going diamond drilling programs for Sultan. Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project supervisor and "Qualified Person" as defined by NI 43-101, "Standards of Disclosure for Mineral Projects".
For further information on the Company's projects, visit www.sultanminerals.com.
Please click to view Drill Hole Locations 2007 Drill Program Map: www.sultanminerals.com/i/maps/Drill-Hole-Locations-2007-Drill-Program.jpg
Arthur G. Troup, P.Eng., Geological, President and CEO
This release was prepared by Sultan management and no regulatory authority has approved or disapproved the information contained herein. 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 the Company expects are forward-looking statements. Although the Company 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 the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.sultanminerals.com.
SEC 12g3-2(b): 82-4741
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.
Contacts
Marc Lee
Sultan Minerals Inc.
Investor & Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
Email: mlee@sultanminerals.com or info@sultanminerals.com
Website: www.sultanminerals.com
Catarina Cerqueira
CHF Investor Relations
Associate Account Manager
(416) 868-1079, Ext. 251
Email: catarina@chfir.com |
