Mr. Peter Tagliamonte reports
SULLIDEN EXTENDS MINERALIZATION IN PARALLEL STRUCTURES WITHIN CENTRAL CORRIDOR AT ITS SHAHUINDO PROPERTY IN PERU
Sulliden Gold Corp. Ltd. has provided additional results from the continuing 2011 exploration program, including 23 new drill holes totalling 5,195 metres conducted along the Central Corridor of the Shahuindo gold and silver project in Peru.
The company continues to delineate mineralization along the Central Corridor, particularly in the new parallel gold- and silver-bearing structures, Subcorridor A and Subcorridor B. Recent results from Subcorridor A have extended mineralization along a southward-dipping angle beyond the current grade shells. Highlights from this subcorridor include:
- 0.80 gram per tonne gold over 25.5 metres, including 1.56 g/t gold over 9.0 metres in hole SH11-261;
- 1.68 g/t gold over 14.5 metres, including 3.24 g/t gold over 6.1 metres in hole SH11-262;
- 0.86 g/t gold over 19.5 metres, including 2.48 g/t gold over 4.5 metres in hole SH11-272.
Subcorridor A is located at the southwest of the Central zone and is one of several recently identified parallel mineral structures found in the Central Corridor that are currently being drilled. To date, the geological data indicate that the mineralization in this area outcrops on surface and dips southward at a low angle. Recent drill holes from the Subcorridor A, reported in the attached table, were conducted over a 500-metre strike length and have further confirmed its shallow-dipping structure and successfully identified a down-dip extension into the sulphides.
Drilling is also being carried out on Subcorridor B located northwest of the West zone, which was initially identified with holes RSH11-168 and RSH11-169 (please refer to May 26, 2011, press release). The most recent hole from Subcorridor B, SH11-274, has returned the highest gold intercept to date in this area with a value of 0.76 g/t gold over 31.5 metres including 2.71 g/t gold over 4.5 metres, and 0.89 g/t gold over 11.8 metres (see attached table). These intersections add continuity to the mineralized zone and will be further drill tested on strike and at depth to better define the morphology of mineralization in this subcorridor.
The company is encouraged by the preliminary results in subcorridors A and B and believes these may contribute to mineral resource growth on the property.
North Corridor drilling
Drilling activities in the North Corridor are progressing well. Since initiating drilling in late August, the company has increased the number of operating drill rigs from one to three and plans to complete approximately 5,000 metres of drilling in this area by the end of 2011 (for additional information on initial trenching and rock sample results from the North Corridor, please refer to Aug. 25, 2011, press release). Initial results are expected to be released in the latter half of November.
The North Corridor is a parallel mineralized structure located approximately two kilometres north of the Central Corridor. Exploration fieldwork, including mapping, soil geochemistry and geophysics (induced polarization), have identified a mineralized footprint on surface that extends for at least two kilometres in a northwest to southeast direction (please refer to Aug. 25, 2011, press release). Results from trenching and chip samples in the North Corridor have returned positive results and the company is undertaking an initial drill program designed to test the potential for building a mineral resource in this area.
To date, Sulliden has completed approximately 52,000 metres of drilling and is on track to complete the program by year-end. This exploration program has been designed to expand and upgrade the gold and silver mineral resources on the Shahuindo property.
Stephane Amireault, vice-president of exploration for Sulliden, commented: "We are encouraged by the results from the new drill holes in the subcorridors and believe these areas represent prospective sources of additional mineral resource growth for the Shahuindo project. Definition and infill drilling is ongoing in the Central Corridor and we are making good progress with the drilling program in the North Corridor."
