Sulliden Confirms Parallel Gold/Silver-Bearing Structure at Shahuindo
posted on
Apr 19, 2011 10:27AM
Leading Shahuindo towards production & continued strategic exploration
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April 19, 2011 | |
Sulliden Confirms Parallel Gold/Silver-Bearing Structure at Shahuindo | |
TORONTO, ONTARIO--(Marketwire - April 19, 2011) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF) is pleased to provide an update on its ongoing exploration program, including new assay results for the latest 22 drill holes at its 100%-owned Shahuindo Gold and Silver Project in northern Peru. -- Recent drilling and improved geological understanding has led to the discovery of an extension to a parallel gold/silver-bearing mineral structure located South-West of the Central Zone (see Figure 1). The mineralized zone is shallow, west dipping, open-ended, and currently identified over approximately 400 metres in strike length. Significant intercepts are shown in Figure 2. -- An exploration drill rig capable of drilling deep holes has arrived at site and the Company has initiated its planned exploration program that will test the depth of mineralization across the four main zones of the Central Corridor. -- Geochemistry and prospecting along the five kilometres of the North Corridor have been positive and are ongoing in preparation for exploration drilling. The Company expects to be able to begin drilling these targets early in the third quarter of 2011. -- The Company's 70,000 metre exploration program for 2011 is well underway with approximately 22,000 metres of drilling completed since January 2011. Sulliden remains on track to issue a new NI 43-101 Mineral Resource by the end of May 2011. This new resource estimate will be used to complete the Feasibility Study, slated for release in the third quarter of 2011. |