Sultan Minerals Inc

Published : May 09th, 2016

Sultan Minerals Inc. Plans Sampling and Metallurgical Testing for High Grade Gold Mineralization on its Kena and Daylight Properties

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Keywords :   9/11 | Diamond | Gold Mines | Mines | Target |

Sultan Minerals Inc. Plans Sampling and Metallurgical Testing for High Grade Gold Mineralization on its Kena and Daylight Properties

Vancouver, BC -- April 26, 2016: Sultan Minerals Inc. (TSX-V: SUL; 'the Company, 'Sultan') is pleased to report that its geologists have recommended a program of trenching, sampling and metallurgical testing of high grade gold zones on its Kena and adjacent Daylight gold properties.

The 8000 hectare Kena and Daylight Gold Properties, located 90 km northeast of the historic Rossland gold camp in southeastern British Columbia, host advanced stage exploration targets plus several historic mines.

Diamond drill results show that the Kena property is host to two styles of gold mineralization; high grade veins and structures and large, lower grade, porphyry gold deposits. In April 2013, an updated NI43-101 resource estimate was prepared for the KGM (Kena/Gold Mountain Zone) bulk tonnage deposit by Gary Giroux, P.Eng, MASc. and Perry Grunenberg, P.Geo. The resource estimate shows a measured plus indicated resource of 25.28 million tonnes containing 490,000 ounces gold averaging 0.60 g/t Au and an additional inferred resource of 90.44 million tonnes containing 1,399,000 ounces Gold averaging 0.48 g/t Au, using a 0.30 g/t Au cutoff. Within the low grade mineralization are a series of high grade veins and shoots that remain open along strike and at depth (Apr 11, 2013, News Release).

EXAMPLES OF KENA HIGH GRADE GOLD ASSAYS*

DRILL HOLE # FROM
(m)
TO
(m)
WIDTH (m) GOLD
(g/t)
AREA
01GM-02 54.00 56.00 2.00 12.92 KGM
01GM-03 48.77 50.00 1.23 240.07 KGM
01GM-03 74.00 76.00 2.00 29.84 KGM
01GM-04 84.00 86.00 2.00 16.34 KGM
01GM-05 136.00 138.00 2.00 12.07 KGM
01GM-06 130.00 132.00 2.00 18.86 KGM
01GM-08 50.00 52.00 2.00 13.82 KGM
01GM-08 204.00 206.00 2.00 172.10 KGM
01GM-09 242.00 244.00 2.00 10.74 KGM
01GM-10 257.00 258.00 1.00 32.36 KGM
01GM-10 306.80 307.80 1.00 10.65 KGM
01GM-11 171.51 172.15 0.64 10.92 KGM
01GM-20 64.00 66.00 2.00 15.56 HG
01GM-28 48.00 51.35 3.35 16.35 KGM
02GM-33 9.00 13.00 4.00 19.66 KGM
02GM-33 62.00 64.00 2.00 10.28 KGM
02GM-35 117.00 119.00 2.00 15.03 KGM
02GM-39 30.00 32.00 2.00 16.69 KGM
02GM-42 83.00 85.00 2.00 18.21 KGM
02GM-42 121.00 123.03 2.03 11.74 KGM
02GM-42 205.00 207.00 2.00 11.25 KGM
02GM-53 122.00 124.00 2.00 11.82 HG
02GM-62 80.97 83.00 2.03 34.44 KGM
03GM-65 16.00 17.00 1.00 14.66 KGM
03GM-71 42.00 44.00 2.00 21.11 HG
04KGX-01 32.00 34.00 2.00 10.45 KGM
07GMT-01 232.73 234.73 2.00 21.51 KGM
07GMT-01 423.33 425.33 2.00 11.26 KGM
10HG-04 71.10 72.00 0.90 13.10 HG
12KG-02 44.50 58.30 13.80 12.29 KGM
02SG-04 54.00 56.00 2.00 12.63 SOUTH GOLD
02GW-04 43.00 43.50 0.50 12.69 GREAT EASTERN
02SL-01 14.81 15.09 0.28 30.37 STARLIGHT
02SL-03 94.00 96.00 2.00 10.96 STARLIGHT
*previously reported
Note: KGM = Kena/Gold Mountain Zone; HG = High Grade Corridor Zone

The Daylight Crown Granted claims located adjacent to the northwest margin of the Kena property are host to four historic high grade gold mines. The Daylight, Starlight, Victoria and Great Eastern mines operated intermittently from 1898 to 1949 working narrow but high grade gold deposits, BC Minfile numbers: 082FSW172, 173, 174 and 175. While searching for large bulk tonnage deposits Sultan has also carried out limited prospecting and sampling programs on the Daylight property. This work successfully confirmed the grades of the historic deposits and discovered a number of new zones with significant gold grades. The highlights of the Daylight sampling programs are tabled below:

SURFACE CHIP SAMPLES FROM THE DAYLIGHT AREA*

Sample No Sample Description Width (m) Au (g/t) Ag (g/t)
BST-001 Chip sample across Starlight Vein 1.00 22.50 150.9
BST-003 Chip sample across Starlight Vein 0.25 11.52 161.0
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
BVJ-2 Chip sample across Victoria Vein 1.00 11.45 5.7
D14-02 Chip sample from silicified shear zone 0.45 23.40 7.80
D14-12 Random chips from 20 cm wide qtz vein 0.20 80.40 117.00
*previously reported

Sultan's geologists recommend that the company focus on the high grade gold targets. A work program consisting of trenching the high grade structures and collecting samples for metallurgical testing is proposed. Upon success from the trenching and metallurgical test work, a series of 200 tonne mini-bulk samples will be taken from several locations. This mini bulk sampling program will be followed by extraction of two 9,000 tonnes bulk samples from the most promising areas on both properties. These bulk samples will be shipped to a nearby processing facility to determine gold recoveries. Target recoveries for the bulk samples are >5.0 g/t gold.

Upon successful completion of the bulk sampling program a close spaced definition Diamond drilling program will define the zones in order to attain information required for a 250 tons/day mining permit.

The proposed budget for the initial trenching and metallurgical sampling program is $53,500. The budget for the phase 2 mini bulk sampling program is $436,000. The proposed work programs are subject to financing.

Linda Dandy, P.Geo, director, is the 'Qualified Person' for the company who has prepared, reviewed and verified the technical contents of this news release for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.



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.
Read the rest of the article at www.publicnow.com

Sultan Minerals Inc

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CODE : SUL.V
ISIN : CA86556L1004
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Sultan Min. is a zinc and lead exploration company based in Canada.

Sultan Min. holds various exploration projects in Canada and in USA.

Its main exploration properties are KENA and JERSEY-EMERALD in Canada and GARNET in USA.

Sultan Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 673 860 as of today (US$ 520 287, € 468 206).

Its stock quote reached its highest recent level on May 31, 1996 at CA$ 3.65, and its lowest recent point on July 15, 2016 at CA$ 0.01.

Sultan Min. has 134 771 918 shares outstanding.

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Annual reports of Sultan Minerals Inc
2007 Annual Report
Financings of Sultan Minerals Inc
1/10/2012Announces Non-Brokered Private Placement
7/3/2009Completes Brokered Private Placement
5/14/2007Completes First Tranche Of Private Placement Financing
5/3/2007Announces Private Placement Financing
Nominations of Sultan Minerals Inc
11/16/2009Appoints Robin Merrifield CA (S.A.) to its Board of Director...
Project news of Sultan Minerals Inc
11/11/2013Announces Disposition of the Jersey Emerald Property, B.C.
11/5/2013Commences Sampling Program on the Daylight Gold Property, B....
4/30/20132013 Exploration Update
9/10/2012(Kena)Reports Successful Drill Expansion of Gold Mineralization at...
7/19/2012(Kena)Announces Commencement of Drill Program at the Kena Gold-Cop...
9/13/2011(Kena)Applies for Drill Permit for Kena Gold Property, BC.
7/5/2011$6,500,000 Drill Program Recommended for Sultan Minerals Cop...
1/25/2011(Kena)Intersects 1.55 Metres of 7.94g/t Gold at its Kena Property,...
10/19/2010(Kena)Confirms High Grade Gold Corridor at Kena Property, BC
5/5/2010(Garnet)to Drill Zinc Targets at the HB & Garnet Zinc Mines, Jersey-...
3/1/2010(Jersey-emerald)Reports Substantial Ni 43-101 Lead-Zinc Resource Estimate
1/15/2010(Garnet)Discovers Potential for large Extensions to the HB & Garnet ...
10/1/2009(Garnet)Acquires Garnet Lead-Zinc Mine
9/28/2009Intersects 0.76% Tungsten (WO3) on its Jersey Emerald Proper...
8/20/2009(Jersey-emerald)Intercepts 28 Feet of 0.18% WO3 and Resumes Drilling on Its ...
6/23/2009(Jersey-emerald)Resumes Drilling on Its Tungsten-Molybdenum Property
5/21/2009(Kena)Commences Exploration At Its Kena Gold Property, BC
2/17/2009(Jersey-emerald)Identifies Potential New Tungsten And Zinc Deposits At Jerse...
1/21/2009(Jersey-emerald)Tungsten Resource
12/16/2008(Jersey-emerald)Receives Environmental Baseline Report for the Jersey-Emeral...
11/18/2008(Jersey-emerald)Expands East Emerald Tungsten Zone at Jersey-Emerald Propert...
11/3/2008(Kena)Trenches 0.26% Copper Over 56 Metres On Its Kena Property, B...
8/26/2008(Kena)Trench Porphyry Copper-Gold Zone On Its Kena Property, BC
8/18/2008(Jersey-emerald)Drills Impressive 85 Foot Zone of 0.16% MoS at its Jersey-Em...
7/22/2008(Jersey-emerald)Expanding Tungsten and Molybdenum Resource at Its Jersey-Eme...
6/23/2008(Jersey-emerald)Intersects High Grade Molybdenum Veins at its Jersey-Emerald...
6/2/2008Intersects 28.50 Feet of 3.98% Lead and 0.71% Zinc at its Se...
5/7/2008(Kena)Metallics Gold Assay Increase Grade On Sultan Minerals' Kena...
3/27/2008(Jersey-emerald)Expands Tungsten and Zinc Mineralization at its Jersey-Emera...
3/13/2008(Jersey-emerald)Intersects Lead-Zinc and Gold at its
Jersey-Emerald Mol...
2/27/2008(Kena)Drills 430.0 Metres (1,428 Ft) Of Gold Mineralization On Its...
2/11/2008(Jersey-emerald)Intersects Stratiform Lead-Zinc-Silver at its Jersey-Emerald...
1/29/2008(Kena)Confirms Copper Zone At Kena Gold Property, BC
11/7/2007Commences 800 Metre Drill Hole to Expand Kena Gold Resource ...
10/29/2007(Jersey-emerald)Project Update, Jersey-Emerald Property, British Columbia, C...
9/24/2007Discovers High-Grade Extension to its Jersey-Emerald Lead-Zi...
8/8/2007(Jersey-emerald) Acquires Additional Surface Rights at Jersey-Emerald Tungst...
7/18/2007(Jersey-emerald)Confirms High-Grade Moly & Discovers New Lead & Zinc Zone At...
6/6/2007(Jersey-emerald)Intersects Spectacular Zone of Molybdenum At Jersey-Emerald ...
5/23/2007(Jersey-emerald)NI 43-101 Scoping Study For Tungsten Operation
Corporate news of Sultan Minerals Inc
7/28/2016Apex Resources Inc. Applies for Multi-Year Permit to Test Hi...
7/15/2016Name Change and Consolidation
6/22/2016Sultan Minerals Inc. Announces 10:1 Share Consolidation and ...
5/12/2016Sultan Minerals Engages PBG Geoscience Ltd for its High Grad...
5/9/2016Sultan Minerals Inc. Plans Sampling and Metallurgical Testin...
3/31/2016Sultan Minerals and Margaux Resources Amend Option Agreement...
12/31/2015Sultan Minerals and Margaux Resources Amend Option Agreement...
6/27/2012(Kena)Provides Resource Update on the Kena Project
4/3/2012Altair Agreement Approved By TSX-Venture Exchange
11/29/2011Signs Letter of Intent with Tunxsten Resources to Develop th...
6/23/2011Provides Shareholder Update
3/8/2011(Jersey-emerald)to Assess Rich Silver Mineralization on its Jersey-Emerald T...
8/10/2010Adopts Shareholder Rights Plan
2/3/2010Anticipates Significant Lead Zinc Resource Estimate for its ...
1/11/2010Identifies Two Priority Geophysical Targets on its HB Zinc P...
11/26/2009Correction: Sultan Minerals Acquires Aspen Lead-Zinc-Silver ...
9/10/2009Identifies Strong New Exploration Targets on the Kena Gold-C...
1/8/2009Focussing On Metals Unaffected By The Commodities Crunch
9/17/2008Presents New Corporate Video and Publication of "Jewel of Th...
9/10/2008Project Validated by $542,000 Geoscience BC Survey
6/20/20082008 Annual General Meeting
6/11/2008Retains Renmark Financial Communications Inc.
4/29/2008Expands Tungsten Zone at its Jersey-Emerald Property, BC
4/15/2008Drills Bulk Tonnage Tungsten Mineralization at its Jersey-Em...
12/20/2007Drills First Hole To 1,800 Ft On Kena Gold Property, British...
8/23/2007Featured on CEO Clips on The Biography Channel
8/15/2007National Post Article Featuring Sultan Minerals
7/3/2007 Engages Wardrop Engineering To Conduct Environmental Study ...
6/20/2007Acquires Surface Rights To Additional 150 Acres At Jersey-Em...
5/29/2007Completes Final Tranche of $3.6 Million Financing
5/17/2007Commences Underground Mine Survey At Jersey-Emerald Zinc Min...
5/1/2007Reports On Annual & Special General Meeting Results
2/8/2007Cabo to drill underground for Sultan Minerals Inc.
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