Sultan Minerals Intercepts 28 Feet of 0.18% WO3 and Resumes Drilling on Its Jersey-Emerald Property, B.C.
Thu Aug 20, 9:00 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2009) - Sultan Minerals Inc. (TSX VENTURE: SUL.V)(FRANKFURT: RZN.F) ("Sultan") is pleased to announce results from the first 6 diamond drill holes on its Jersey-Emerald Property in the Salmo area of British Columbia. Results of this drilling include significant tungsten mineralization, including 28 feet of 0.18% WO3 and 6 feet of 0.39% WO3. Drilling was initiated in June with a surface drill to investigate several new tungsten, zinc and molybdenum targets discovered in 2008 (see NR of June 23, 2009).
Two new target areas of the property were investigated by drilling. Two drill holes were completed approximately 1 kilometre east of the historic Jersey-Emerald mine, where preliminary results of regional airborne surveys indicate strong magnetic and conductive rocks are present. Four drill holes were completed approximately 1.5 kilometres south of the historic mine area (near Lost Creek) to test for the extension of tungsten mineralization discovered during a surface sampling program in 2008.
Preliminary results returned from sampling of drill core indicate significant tungsten mineralization existing in zones well away from the historic Jersey-Emerald mine area. In particular, the Lost Creek drilling (LC0901 through LC0903) returned elevated tungsten values from all 3 drill holes. Hole LC0902 returned the highest value for WO3, with 0.18% over 28 ft including 0.39% over 6 feet.
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Drill Grid Grid Azmth/ From To Width WO3
Hole North East Dip (Feet) (Feet) (Feet) (%)
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LC09-01 5437111 484583 302 112.00 188.00 76.00 0.12
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Incl. 138.00 148.00 10.00 0.22
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LC09-02 5437111 484583 302 167.00 195.00 28.00 0.18
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Incl. 182.00 188.00 6.00 0.39
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LC09-03 5437090 484559 300 127.00 174.00 47.00 0.10
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Incl. 137.00 162.00 25.00 0.16
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Incl. 147.00 152.00 5.00 0.20
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Drill site preparation is currently underway for the recently acquired Victory Tungsten deposit, approximately 3 kilometres north of the historic Jersey-Emerald mine area. This drilling will verify the presence of tungsten mineralization reported by previous operators during exploration in the 1960's and 1970's. A zone of high grade tungsten mineralization, including 84,000 tons of 0.54% WO3, was outlined by the historic drilling.
A study of the potential for lead-zinc-silver remnant mineralization within and adjacent to the historic Jersey mine has been undertaken. It is expected that a preliminary resource estimate can be obtained from information provided by the large database accumulated by Sultan that summarizes historic and recent drilling. Several zones of remnant lead-zinc mineralization were observed in preliminary viewing of the 3-Diminsional models created by Sultan. As well, drill testing completed by Sultan in 2007 intersected widespread zinc mineralization marginal to the historic workings, suggesting that important zinc mineralization may extend to the east, west and south of the former mine. The Jersey Emerald was British Columbia's second largest lead-zinc mine. Giroux Consultants Ltd. has been contracted to provide the preliminary resource estimate.
For further information on Sultan's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological, President and CEO
To view the Jersey-Emerald Property map please click on the following link: sultanminerals.com
This release was prepared by Sultan's management. 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.
SEC 12g3-2(b): 82-4741
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.
Contacts
Marc Lee
Sultan Minerals Inc.
Investor and Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
mlee@sultanminerals.com or info@sultanminerals.com
www.sultanminerals.com |
