Sultan Minerals Inc

Published : February 17th, 2009

Identifies Potential New Tungsten And Zinc Deposits At Jersey-Emerald, BC

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Tuesday, February 17, 2009

TSX Venture Exchange Symbol: SUL
SEC 12g3-2(b): 82-4741
Frankfurt Stock Exchange: RZN

Sultan Minerals Identifies Potential New Tungsten And Zinc Deposits At Jersey-Emerald, Bc

Sultan Minerals Inc. (SUL -- TSX Venture) ("Sultan" or the "Company") is pleased to announce the discovery of a new area of tungsten and zinc mineralization on its Jersey-Emerald Property in southeastern British Columbia. The mineralization, including assays of 5.0% zinc and 0.9% tungsten, was discovered at four widely spaced locations during a recent prospecting program on the 93 square kilometer property. Additional prospecting, trenching and a preliminary 350 metre Diamond drill program are planned for 2009 to test this new discovery.

The mineralization, situated approximately 2.0 km south of the historic Emerald Tungsten Mine, was discovered during a prospecting program designed to investigate a 4.0 square kilometer area of tungsten and zinc soil anomalies. The new discoveries referred to as the Lost Creek Zone add significantly to the potential of the property. They are important because they have potential to host mineral deposits comparable in size to the historic Jersey and Emerald Tungsten and Lead-Zinc-Silver mines. Soil anomalies for zinc and tungsten are comparable in size and metal concentrations to the anomalies seen over the two historic mines. The zinc and tungsten concentrations found in surface showings are comparable to values found in surface exposures of the Jersey and Emerald mines and are similar to the two mines which carry associated molybdenum concentrations.

Significant Zinc, Tungsten and Molybdenum assays obtained from the sampling program are given in the following table:

SAMPLE NUMBER

UTM North

UTM East

SAMPLE TYPE

Zn (%)

WO3 (%)

MOS2 (%)

08POS-04

5435946

484649

Rock

5.18

0.10

 

08POS-05

5435946

484649

Rock

0.63

0.13

 

08POS-08

5437165

484592

Rock

0.04

0.90

0.04

08POS-09

5437165

484592

Rock

0.01

0.01

0.31

08POS-11

5435977

484758

Rock

1.05

0.14

0.01

08POS-12

5435350

484180

Rock

0.38

0.18

 



All samples were comprised of a series of random chip samples taken from mineralized outcrops and rock piles discovered by prospecting. The samples are not representative of a defined sample interval and are therefore considered to be "grab samples".

Samples 08POS-04, 08POS-05, 08POS-11 and 08POS-12 were taken from skarny laminations hosted within argillaceous sediments along the ridge top south of Lost Creek. Historic trenches (1970's) were noted at different locations along the ridge.

Samples 08POS-08 and 08POS-09 were taken from interpreted waste piles adjacent to a small historic adit, approximately 2000 metres northeast of the ridge top samples. These samples indicate the metal potential of the mineralized zone mined from this adit. The skarn banding that hosts this mineralization was noted to continue to the northeast of the adit.

The historic Jersey Emerald tungsten and lead-zinc mines were formerly owned and operated by Placer Dome. The Emerald Mine was Canada's second largest tungsten producer and the Jersey Mine was British Columbia's second largest lead-zinc mine. Sultan has recently completed 20,000 metres of Diamond drilling, a scoping study, a mine planning study and a 12-month environmental baseline study as milestones towards reopening the Emerald Mine.

The highway accessible project is located 10 km south of the historic mining community of Salmo and has excellent infrastructure including power, water, an educated work force and a natural gas pipeline. The new discoveries highlight the potential of Sultan's large land package in this historic mining camp.

In September 2008, Sultan participated with Geoscience BC in a $542,000 Airborne Geophysical Survey centered on the Jersey-Emerald Property. The survey may provide information on the size and extent of the recently discovered mineralization as well as identify new exploration targets elsewhere on the 93-square kilometre property. Results of the survey are expected to be available in the spring of 2009.

Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project supervisor and "Qualified Person" as defined by NI 43-101, who has reviewed and verified the contents of this news release. Mr. Ed Lawrence, P.Eng, former Manager of the Jersey and Emerald Mines under Placer-Dome, oversees all on-going Diamond drilling programs for Sultan.

For further information on the Company's projects, visit www.sultanminerals.com

Arthur G. Troup,
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

This release was prepared by Sultan management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defines 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 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.

You can also view this News Release on our website at:
http://www.sultanminerals.com/s/News-2009.asp?ReportID=338371




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Data and Statistics for these countries : Canada | Jersey | All
Gold and Silver Prices for these countries : Canada | Jersey | All

Sultan Minerals Inc

EXPLORATION STAGE
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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