Sultan Minerals Expand the Potential of its BC Gold Property With More High Grade Discoveries
Vancouver, BC / TNW-ACCESSWIRE / October 21, 2014 / Sultan Minerals Inc. (TSX-V: SUL; "Sultan") is pleased to announce that four new zones of significant gold mineralization have been successfully discovered by the ongoing 2014 surface prospecting program on its Daylight Gold Property, in British Columbia. Assays from two of the new discoveries include 9.70 g/t gold with 30.1 g/t silver across 2.0 metres and 7.12 g/t gold with 34.2 g/t silver from a 1.0 metre wide shear zone.
The new gold discoveries were found at four separate sites located approximately one km northeast of the Starlight gold mine reported in December (see News Releases dated Dec 16, 2013 and Jan 8, 2014). Significant results obtained from the ongoing prospecting program are tabled below.
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|Sample No |Sample Description |Width|Au
|Ag |
| | |(m)
|(g/t)|(g/t) |
|-----------------------------------------------------------------------------|
|D 14-17 |Chip sample across Silicified Shear Zone |2.00
|9.70 |30.1 |
|-----------------------------------------------------------------------------|
|D 14-20 |2.0 cm quartz vein in |0.02
|1.29 |3.4 |
| |altered Slvrking | |
| |
| |intrusive | |
| |
|-----------------------------------------------------------------------------|
|D 14-21 |1.0 metre alteration adjacent to D14-20 |1.04
|7.12 |34.2 |
|-----------------------------------------------------------------------------|
|D 14-32 |Grab from waste dump at Great Eastern Mine |NA
|22.20|26.3 |
|-----------------------------------------------------------------------------|
|D 14-36 |Grab from sub-outcrop altrd Slvrking intrusive |NA
|2.32 |0.6 |
|-----------------------------------------------------------------------------|
|D14-02* |Chip sample from silicified zone&qtz veinlets |0.45
|23.40|7.80 |
|-----------------------------------------------------------------------------|
|D14-04* |Chip sample across wall of historic pit |2.50
|1.68 |1.90 |
|-----------------------------------------------------------------------------|
|D14-05* |45 cm wide qtz vein |0.45
|5.16 |2.40 |
|-----------------------------------------------------------------------------|
|D14-12* |Random chips from 20 cm wide qtz vein |0.20
|80.40|117.00|
|-----------------------------------------------------------------------------|
|SD13-3-10*|Average of 7 chip samples across Starlight Vein|1.60
|10.30|68.15 |
|-----------------------------------------------------------------------------|
|SD13-11* |Chip sample across Victoria Vein |0.85
|28.10|18.5 |
|-----------------------------------------------------------------------------|
|SD13-14* |Grab from waste dump at Daylight Vein shaft |NA
|5.30 |1.50 |
|-----------------------------------------------------------------------------|
|SD13-16* |Grab from waste dump 30m from Daylight shaft |NA
|21.40|11.4 |
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Note: *denotes previously reported sample. The reader is cautioned that these assays represent prospecting samples and may not be representative of the grade or width of the mineralization. There is presently insufficient data with respect to the size and extent of the mineralization to determine its significance.
Sample D 14-17, was taken from a 2.0 metre wide shear zone that assayed 9.70 g/t gold and 30.1 g/t silver. This zone is located 450 metres north-west of sample station D14-12 where a 20 cm quartz vein assayed 80.40 g/t gold and 117.00 g/t silver. It lies 200 metres south-east of sample stations D 14-20 and 21 which carried 1.29 and 7.12 g/t gold. These three sample sites occur along a 700 metre long section of a silicified ridge that trends parallel to the KGM gold deposit on the adjacent Kena Gold Property. Recent drilling on the KGM deposit shows a Measured + Indicated Resource of 490,000 contained ounces of gold and an additional Inferred Mineral Resource of 1,399,000 contained ounces of gold both at a 0.30 g/t cut-off.
Sample D 14-36 containing 2.32 g/t gold was a grab sample taken 200 metres west of sample locations D14-4, 5 and 12 where previous sampling obtained gold grades of 1.7, 5.2 and 80.4 g/t. These four samples suggest there is a 200 metre wide gold enriched zone that has been traced by outcrop sampling for 700 metres to the northwest from sample D14-12 to sample D14-21. The zone remains open to the north and south and extends on to the Kena property to the east. (Please see attached map).
Sample D 14-32 was a grab sample taken from a waste dump at the historic Great Eastern Mine working. This is not a new showing but the assay of 22.20 g/t gold and 26.3 g/t silver confirms the reported grade of the former mine. The Great Eastern Mine closed in 1939 during World War Two and was never re-opened.
Sultan is extremely encouraged by these results which continue to expand the potential of the Daylight Property. In light of these extremely encouraging results and the success of the 2013 sampling program Sultan is planning to investigate the high grade vein and shear zone discoveries with an excavator trenching program.
Prospecting is continuing in an effort to trace the strike continuity of these new gold discoveries.
The Daylight Property is located in the Rossland-Nelson Gold mining area with historic production of greater than 4,000,000 ounces of gold and 11,000,000 ounces of silver. The Rossland-Nelson area encompasses three historically important gold mining camps including Rossland, BC's second largest gold producing camp, the Sheep Creek Camp, BC's sixth largest lode gold producer and the Ymir-Nelson camp with historic production of more than 500,000 ounces of gold and 6,000,000 ounces of silver.
Located in southeastern BC the Daylight property has excellent infrastructure. The property has proximity to paved highways, rail, power, two regional airports, local service and supply companies and an educated workforce. Forest service roads and a network of logging haul roads cross the property allowing for low-cost exploration and a long field season.
Sultan's "Qualified Person" for the Daylight Property is Perry Grunenberg, P.Geo., for the purpose of National Instrument 43-101.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@sultanminerals.com or info@sultanminerals.com
This release was prepared by Sultan's management. 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. 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.
Please see attached Map
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