 | | | Published : July 18th, 2007 | Confirms High-Grade Moly & Discovers New Lead & Zinc Zone At Jersey-Emerald |
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Sultan Minerals Confirms
High-Grade Molybdenum and
Discovers New Lead &
Zinc Zone at Jersey-Emerald Property, B.C.
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Vancouver, B.C. ? July 18, 2007 ? Sultan Minerals
Inc. (SUL-TSX-V) ("Sultan") is pleased to report that assays have been
received for an additional 13 underground Diamond drill holes, relating to
the spring drilling program of 20,000 feet, from the ongoing exploration
program at its 100% owned Jersey-Emerald Molybdenum-Tungsten Property located
near Salmo, BC.? The drill results
confirm the high-grade molybdenum intersection reported in the news release
of June 6, 2007, and show an
important new discovery of lead and zinc mineralization in the footwall of
the historic mine.
Three
of the 13 new widespread holes, JM07-16, JM07-17 and JM07-18 were drilled to
investigate the vertical thickness and lateral continuity of the molybdenum zone intersected
in drill-Hole JM07-04, which assayed 0.10% molybdenum sulfide
(MoS2) over a core length of 548.0 feet.? All three holes successfully intersected
the molybdenum zone confirming exceptional grade, excellent thickness and
good lateral continuity.? Drill-Hole
JM07-17 was the highlight of the three holes giving an impressive intersection
of 0.21% molybdenum sulphide (MoS2) over a core length of 160.0
feet.? The intersection included a
60.00 foot section that assayed 0.41% MoS2, including a very high-grade
section that carried 0.85% MoS2 over 10.0 feet.
Mr.
Arthur G. Troup, President and CEO commented, ?We are extremely pleased with
the high-grade intersections obtained from this drill program and
particularly the east-west continuity of these zones.? With each successive drill program that
Sultan has completed on the Jersey-Emerald Property, we have continued to
expand and confirm the large size potential of this deposit.?
Drilling
has now been completed in 19 holes out of a planned program of 50 holes for
2007.? Sultan?s summer drill program,
for an additional 20,000 feet of drilling will focus on expanding the known
molybdenum deposit as well as the tungsten and lead-zinc.? The Company will commence drilling by the
end of July.
Significant intersections
from the three molybdenum drill holes are given in the following table:
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DRILL-HOLE
NUMBER
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FROM
(feet)
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TO
(feet)
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WIDTH
(feet)
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MOS2
(%)
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JM07-16
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308.00
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704.00
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396.00
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0.07
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Including
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379.00
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384.00
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5.00
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0.13
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and
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454.00
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464.00
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10.00
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0.17
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and
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594.00
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684.00
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90.00
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0.18
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Including
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624.00
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634.00
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10.00
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0.34
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JM07-17
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463.00
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623.00
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160.00
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0.21
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Including
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553.00
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613.00
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60.00
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0.41
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Including
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603.00
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613.00
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10.00
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0.85
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JM07-18
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413.00
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724.00
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311.00
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0.12
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Including
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484.00
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504.00
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20.00
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0.71
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and
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574.00
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584.00
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10.00
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0.66
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Note:? All dimensions and core lengths are recorded in
feet in order that results are compatible with the historic mine grid and the
existing 5,600 drill hole database.
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The three holes were vertical holes drilled from
the overlying Jersey Lead-Zinc Mine workings to intersect the molybdenum zone
at approximately 150-foot east-west intervals.? The holes demonstrate excellent grade and lateral continuity to a zone that remains open in all directions.
The East Dodger molybdenum
zone has now been tested with 30 drill holes over an area measuring 3,400
feet north south by 900 feet east west.?
Molybdenum mineralization has been intersected in 28 of these holes
showing a number of high-grade molybdenum veins and stockwork zones that
comprise broad zones of bulk-tonnage-grade mineralization.? The bulk tonnage-intersections obtained to
date are summarized below.
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DODGER MOLYBDENUM ZONE BULK-TONNAGE INTERSECTIONS
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DRILL-HOLE
NUMBER
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FROM
(feet)
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TO
(feet)
|
WIDTH
(feet)
|
MOS2
(%)
|
|
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JM05-01*
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398.00
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461.00
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63.00
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0.07
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JM05-02*
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4.00
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196.00
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192.00
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0.21
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JM05-03*
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0.00
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495.00
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495.00
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0.11
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JM05-05*
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29.00
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166.00
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137.00
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0.13
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JM05-13*
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0.00
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217.00
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217.00
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0.12
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JM05-14*
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0.00
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234.00
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234.00
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0.12
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JM05-15*
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0.00
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248.00
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248.00
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0.07
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JM05-16*
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0.00
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215.00
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215.00
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0.10
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DS05-01*
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350.00
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455.00
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105.00
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0.10
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JM07-04*
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789.10
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1,338.00
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548.90
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0.10
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JM07-16
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308.00
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704.00
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396.00
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0.07
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JM07-17
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463.00
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623.00
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160.00
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0.21
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JM07
-18
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413.00
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724.00
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311.00
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0.12
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* Previously reported assay.
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Several important new zones of lead and zinc
mineralization were also intersected in six of the recent drill holes.? Significant lead-zinc intersections obtained
from these holes are given in the following table:
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NEW LEAD ZINC
DISCOVERY
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DRILL-HOLE
NUMBER
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FROM
(feet)
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TO
(feet)
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WIDTH
(feet)
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Pb
(%)
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Zn
(%)
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JM07-11
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200.50
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207.67
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7.17
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5.88
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3.13
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Including
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200.50
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204.83
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4.33
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9.33
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4.63
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and
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349.00
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352.17
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3.17
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2.00
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2.43
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JM07-12
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190.00
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195.00
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5.00
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0.90
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1.14
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JM07-13
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145.00
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148.75
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3.75
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0.24
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0.87
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JM07-16
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0.00
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109.67
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109.67
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0.27
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0.71
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Including
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0.00
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6.00
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6.00
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0.03
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3.15
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and
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86.25
|
107.17
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20.92
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1.36
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2.59
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Including
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86.25
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90.25
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4.00
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6.34
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11.65
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JM07-17
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0.00
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26.00
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26.00
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0.01
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1.45
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Including
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0.00
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4.00
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4.00
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0.01
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8.16
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JM07-19
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0.00
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9.33
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9.33
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1.31
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1.53
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Including
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0.00
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0.67
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0.67
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17.18
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20.16
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Note:? Drill hole intersection angles vary from 45? to 65? suggesting
that the true width of these intersections may range from 60% to 80% of the
drill core intersection length.
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Drill
holes JM07-16 and JM07-17 intersected a zone of previously unknown lead and
zinc mineralization situated in the footwall of the historic Jersey Zinc Mine
workings.? Hole JM07-16 carried
low-grade mineralization over a core length of 109.67 feet including a
four-foot zone of high-grade mineralization that assayed 11.65% zinc and 6.34% lead.? Hole JM07-17 intersected a four-foot zone
that assayed 8.16% zinc within a 26-foot wide
zone of low-grade mineralization.?
These lead and zinc assays compare very favourably with historic mine
grades of 3.80% zinc and 2.00%
lead and
confirm that important deposits of these metals exist beyond the limits of
the former mine workings.
Tungsten mineralization was intersected in nine
drill holes. Several intersections were below a cut off grade of 0.15% WO3 in the areas
drilled.? Higher grade tungsten
deposits normally occur as ore shoots along favourable host horizons and
consequently are more difficult to identify with this early stage
drilling.? Even low-grade
intersections are important in that they show the location of the tungsten
bearing horizons.? This information will
help future exploration programs to locate ore zones along these tungsten bearing
horizons.
Significant tungsten intersections are given in
the following table:
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DRILL-HOLE
NUMBER
|
FROM
(feet)
|
TO
(feet)
|
WIDTH
(feet)
|
WO3
(%)
|
|
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|
JM07-01
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15.00
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17.00
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2.00
|
0.18
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|
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JM07-04
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75.35
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84.60
|
9.25
|
0.10
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|
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JM07-05
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0.00
|
15.83
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15.83
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0.06
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JM07-07
|
15.75
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17.25
|
1.50
|
0.19
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JM07-08
|
4.00
|
9.75
|
5.75
|
0.07
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JM07-11
|
170.00
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175.58
|
5.58
|
0.07
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JM07-15
|
334.00
|
369.00
|
35.00
|
0.04
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JM07-16
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50.42
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52.67
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2.25
|
0.07
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and
|
107.17
|
109.67
|
2.50
|
0.07
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JM07-17
|
463.00
|
473.00
|
10.00
|
0.03
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Note:? Drill hole intersection angles vary from 45?
to 65? suggesting that the true width of these intersections may range from
60% to 80% of the drill core intersection length.
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Drilling has now been completed in 19 holes out of
a planned program of 50 holes for 2007.?
Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald
Mines, is managing the ongoing Diamond drilling programs. Mr. Perry
Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project
supervisor and "Qualified Person" for the purpose of NI 43-101,
"Standards of Disclosure for Mineral Projects."? Standard sampling procedures were used
whereby the core was split with a core splitter and half of the core sent by
trucking company directly to Acme Labs Ltd in Vancouver for assay by standard
analytical procedures.? The remaining
half of the core is stored in the Company's core storage facility in Salmo,
BC.? All sample preparation was done
at the laboratory by Acme staff.?
Checks are being run on 5% of the samples at Becqueral Laboratories in
Mississauga, Ontario for tungsten and Assayers Canada in Vancouver, BC, for
other elements.
- 30 -
For further information on the Company's projects,
visit www.sultanminerals.com
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Arthur G. Troup, P.Eng., Geological
President and CEO
For further information, please contact:
Marc Lee, Investor & Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free:
1-888-267-1400
Email: mlee@sultanminerals.com or info@sultanminerals.com
or
Linda Armstrong, Vice President
CHF Investor Relations
Phone: (416) 868-1079, Ext. 229
Email: Linda@chfir.com
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this News
Release. This release was prepared by Sultan management and no regulatory
authority has approved or disapproved the information contained herein.
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 the Company expects are forward-looking
statements. Although the Company 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 the Company,
investors should review the Company's filings that are available at www.sedar.com? or the Company?s website at www.sultanminerals.com.
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SUL : TSX
Venture????????????????????? RZN :
Frankfurt???????????????????? SEC
12g3-2(b): 82-4741
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Sultan Minerals Inc
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EXPLORATION STAGE |
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CODE : SUL.V |
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ISIN : CA86556L1004 |
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ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
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. |
| Annual reports of Sultan Minerals Inc |
| Financings of Sultan Minerals Inc |
| Nominations of Sultan Minerals Inc |
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| 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 |
| 9/28/2009 | Intersects 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... |
| 6/2/2008 | Intersects 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 |
| 11/7/2007 | Commences 800 Metre Drill Hole to Expand Kena Gold Resource ... |
| 10/29/2007 | (Jersey-emerald)Project Update, Jersey-Emerald Property, British Columbia, C... |
| 9/24/2007 | Discovers 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 |
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