Tuesday, March 23, 2010
TSX Venture Exchange Symbol: SUL
SEC 12g3-2(b): 82-4741
Frankfurt Stock Exchange: RZN
SULTAN MINERALS ANNOUNCES 2010 EXPLORATION PROGRAM FOR ITS KENA GOLD PROPERTY, BC
Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce its 2010 Exploration Program on its Kena Gold Property, located in southeastern British Columbia. The program is designed to test the gold and copper-gold potential in the area south of the Kena Gold Zone. These target areas were identified by geological mapping work conducted by Dr. Jim Oliver and by the IP geophysical survey completed in November. (Please see news releases of September 9 and November 19, 2009).
The initial program is budgeted for $500,000 and will include soil sampling, IP surveying, excavator trenching and diamond drilling. The soil sampling will be done where gaps of existing data require infill to better establish the limits of the gold and copper geochemical anomalies. Trenching and drilling will test the best targets defined by the geochemical and geophysical surveys (in conjunction with historic data), Priority will be given to the strongest soil geochemical anomalies, especially coincident copper-gold anomalies that coincide with IP geophysical anomalies.
The Kena Property contains two areas of porphyry style gold mineralization - the Gold Mountain and Kena Gold Zones, which were the subject of a National Instrument 43-101 resource estimate in 2004 co-authored by G.H. Giroux, P.Eng., MASc. and Linda Dandy, P. Geo. The two zones have a measured and indicated resource of 381,000 ounces of gold and an additional inferred resource of 389,000 ounces of gold. The deposits have an average grade of 1.0 g/t gold using a cut off grade of 0.50 g/t (see News Release of June 7, 2004).
Geologic trends and strong geophysical and geochemical features indicate that the two gold zones relate to the same features and infill drilling between the zones may substantially increase the current resource estimate. These features also extend beyond the limits of the Gold Mountain and Kena Gold porphyry mineralization, most predominantly toward the south where a third gold zone (the South Gold Zone) lies 3 kilometres away.
In conjunction with the porphyry gold mineralization, the large Kena Property also has significant copper porphyry potential in its Kena Copper Zone (see News Release dated November 3, 2008), and gold-silver vein style mineralization at its historic Euphrates, Victoria, and Starlight Mines. The gold, copper and gold-silver mineralizations are each believed to be related to individual mineralizing events.
The exploration program is expected to commence in early June and should take a couple of months to complete.
Linda Dandy, P.Geo., is the project supervisor and "Qualified Person" for the purpose of National Instrument 43-101, who has reviewed and verified the contents of this news release.
For further information on Sultan's projects, visit www.sultanminerals.com.
