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Sultan's business strategy acquires quality, under explored, precious metal properties with undiscovered potential in established mining camps. The company then advances the projects until they can be joint ventured or sold with a retained NSR royalty.
Message: Drilling On Gold And Copper Targets - Kena Property, BC
Thursday, September 16, 2010
Sultan Minerals Commences Drilling On Gold And Copper Targets - Kena Property, BC
Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that it has contracted Wade Critchlow Enterprises Ltd. of Salmo, BC, to drill test for gold and copper mineralization on its Kena Property. The 8,000-hectare Property is located in southeastern British Columbia, 60 kilometres northeast of the historic Rossland Mining Camp, BC's second largest gold camp.
Drilling will focus on a 7.0-kilometre long belt of continuous gold and copper soil geochemical anomalies and a coincident Induced Polarization ("IP") geophysical anomaly which encompasses the Gold Mountain, Kena Gold and Kena Copper King Zones (see News Releases dated July 20 and September 8, 2010).
The Gold Mountain and Kena Gold Zones have been partially tested with 16,500 metres of drilling in 116 diamond drill holes. A preliminary, NI 43-101 compliant, resource estimate (June 7, 2004) shows the two zones have a combined measured and indicated resource of 381,000 ounces of gold at an average grade of 1.00 g/t gold, using a 0.5 g/t cut-off grade. There is an additional inferred resource of 389,000 ounces of gold at the same grade and cut-off. The mineralized area covered by this resource estimate remains open along strike and to depth and will likely be expanded by the current diamond drilling program.
>From 2000 to 2003, Sultan diamond drilled 72 holes into the Gold Mountain Zone and surrounding area at the north end of the 7.0-km long geophysical and geochemical target. The drilling intersected broad zones of bulk tonnage style gold mineralization and narrower intersections with bonanza grade gold mineralization (i.e. 2.0 metres of 172.10 g/t gold). The following Table gives many of the bonanza grade drill and trench intersections achieved in the Gold Mountain Zone (previously reported in News Releases dated 2000 to 2003).
BONANZA GRADE GOLD INTERSECTIONS IN GOLD MOUNTAIN ZONE
|
HOLE # |
LOCATION |
FROM (m) |
TO (m) |
WIDTH (m) |
GOLD (g/t) |
TR-3 |
11+00N |
6.00 |
9.00 |
3.00 |
11.38 |
01GM-02 |
10+96N |
54.00 |
56.00 |
2.00 |
12.92 |
|
01GM-03 |
10+95N |
48.77 |
50.00 |
1.23 |
240.07 |
|
AND |
74.00 |
76.00 |
2.00 |
29.84 |
|
|
AND |
84.00 |
86.00 |
2.00 |
16.34 |
|
01GM-05 |
11+00N |
80.00 |
82.00 |
2.00 |
8.28 |
|
AND |
136.00 |
138.00 |
2.00 |
12.07 |
|
01GM-06 |
10+50N |
130.00 |
132.00 |
2.00 |
18.86 |
|
01GM-08 |
11+00N |
50.00 |
52.00 |
2.00 |
13.82 |
|
AND |
202.00 |
204.00 |
2.00 |
8.37 |
|
|
AND |
204.00 |
206.00 |
2.00 |
172.10 |
|
01GM-09 |
11+00N |
242.00 |
244.00 |
2.00 |
10.74 |
|
01GM-10 |
11+00N |
257.00 |
258.00 |
1.00 |
32.36 |
|
AND |
306.80 |
307.80 |
1.00 |
10.65 |
|
01GM-11 |
12+00N |
171.51 |
172.15 |
0.64 |
10.92 |
|
01GM-20 |
9+00N |
64.00 |
66.00 |
2.00 |
15.56 |
|
01GM-28 |
10+70N |
48.00 |
51.35 |
3.35 |
16.35 |
|
02GM-30 |
10+70N |
20.00 |
22.00 |
2.00 |
8.21 |
|
AND |
52.00 |
54.00 |
2.00 |
9.48 |
|
02GM-33 |
11+00N |
9.00 |
13.00 |
4.00 |
19.66 |
|
AND |
62.00 |
64.00 |
2.00 |
10.28 |
|
02GM-35 |
10+70N |
117.00 |
119.00 |
2.00 |
15.03 |
|
02GM-39 |
10+85N |
30.00 |
32.00 |
2.00 |
16.69 |
|
02GM-40 |
10+85N |
24.00 |
26.00 |
2.00 |
8.92 |
|
02GM-42 |
10+76N |
83.00 |
85.00 |
2.00 |
18.21 |
|
AND |
121.00 |
123.03 |
2.03 |
11.74 |
|
|
AND |
199.00 |
201.00 |
2.00 |
8.49 |
|
|
AND |
205.00 |
207.00 |
2.00 |
11.25 |
|
02GM-43 |
10+73N |
108.00 |
110.00 |
2.00 |
9.34 |
|
02GM-53 |
2+00N |
122.00 |
124.00 |
2.00 |
11.82 |
|
02GM062 |
21+00N |
80.97 |
83.00 |
2.03 |
34.44 |
|
03GM-65 |
23+30N |
16.00 |
17.00 |
1.00 |
14.66 |
|
03GM-71 |
4+00N |
43.00 |
44.00 |
1.00 |
40.66 |
|
R02GM-03 |
10+85N |
18.29 |
19.81 |
1.52 |
8.11 |
|
K90-1 |
4+00N |
103.50 |
105.00 |
1.50 |
12.70 |
|
07GMT-01 |
10+65N |
232.73 |
234.73 |
2.00 |
21.51 |
|
AND |
330.73 |
332.00 |
1.27 |
9.10 |
|
|
AND |
423.33 |
425.33 |
2.00 |
11.26 |
Note -- these results were previously reported
These high-grade gold intercepts are often surrounded by broad haloes of bulk tonnage style gold mineralization. The following Table gives examples of many of the bulk tonnage drill intersections in the Gold Mountain Zone (previously reported in News Releases dated 2000 to 2003).
GOLD MOUNTAIN ZONE - BULK TONNAGE GOLD INTERSECTIONS
|
HOLE # |
FROM (m) |
TO (m) |
WIDTH (m) |
GOLD (g/t) |
01GM-01 |
8.00 |
114.00 |
106.00 |
1.16 |
01GM-02 |
6.00 |
125.00 |
119.00 |
1.00 |
|
01GM-03 |
8.00 |
124.05 |
116.05 |
4.04* |
|
01GM-04 |
18.00 |
134.00 |
116.00 |
1.01 |
01GM-05 |
14.00 |
166.00 |
152.00 |
1.03 |
01GM-08 |
6.71 |
214.27 |
207.56 |
2.25* |
01GM-09 |
198.00 |
258.00 |
60.00 |
1.05 |
01GM-10 |
113.00 |
138.00 |
25.00 |
1.01 |
|
And |
246.00 |
336.00 |
90.00 |
1.04 |
01GM-26 |
3.96 |
177.40 |
173.44 |
0.80* |
|
Including |
90.00 |
146.00 |
56.00 |
1.05 |
01GM-28 |
3.05 |
160.00 |
156.95 |
1.02 |
02GM-30 |
20.00 |
126.00 |
106.00 |
1.01 |
02GM-31 |
3.05 |
76.05 |
73.00 |
1.04* |
02GM-33 |
6.10 |
101.50 |
95.40 |
1.52* |
02GM-37 |
32.00 |
157.00 |
125.00 |
1.00 |
02GM-39 |
6.35 |
137.35 |
131.00 |
1.23* |
02GM-40 |
1.83 |
106.73 |
104.90 |
1.41* |
02GM-42 |
61.00 |
240.00 |
179.00 |
1.03 |
02GM-62 |
3.04 |
86.36 |
83.32 |
1.00 |
R02GM-03 |
6.10 |
80.77 |
74.67 |
1.22* |
* = entire drill hole
Note -- these results have been previously reported
Since 2004, Sultan has completed detailed airborne and ground magnetometer surveys and a recent economic-structural analysis by Dr. Jim Oliver on this zone (see news release dated September 9, 2009). The magnetometer surveys show a strong linear trend running through the Gold Mountain Zone and extending south along the 7.0-kilometre long gold and copper soil anomalies. This magnetic low feature likely represents alteration along a deep-seated fault structure. Follow up work by Dr. Jim Oliver suggests that this deep-seated structure is also the controlling feature for the emplacement of the wide-spread gold mineralization on the Kena Property. Dr. Oliver's conclusions state that: "Geological, geophysical and geochemical vectors clearly demonstrate that several, strong exploration targets exist within the Kena land package. Kena is a very significant and likely undervalued gold-copper occurrence."
The company has just completed enhanced 3D computer modeling of all geophysical, geochemical and geological information in order to better define the controls to mineralization. The current diamond drilling program will test for new areas of higher grade gold mineralization along the structural trends highlighted by the computer modeling process. Drilling will also test a large IP chargeability anomaly which hosts widespread copper mineralization, as reported recently on the Kena Copper King Zone (see News Releases dated July 20 and September 8, 2010).
Diamond drilling of the high grade gold targets has now commenced. Drilling is anticipated to be completed by mid October 2010.
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.
Arthur G. Troup, P. Eng., Geological
President and CEO
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