Sunset Cove Completes the Channel Sampling in the Lindsay Structure
More High-grade Results Found From 93g/t and 569 g/t to 1308 g/t of Silver
TORONTO, October 31, 2012 (TSXV: SSM; (BVL: SSM) Sunset Cove is pleased to announce the completion of the surface channel sampling in the Lindsay structure at the Carolay Silver Polymetallic Property in the Department of La Libertad, Peru. Highlights include several channels with potentially economic grades of silver with up to 259.2 grams per tonne (g/t) silver (Ag) across 3.07 meters including 0.40 meters of 1308 g/t Ag and 135.1 g/t Ag across 1.42 meters in two separate trenches (Table 1).
Channel sampling was conducted in ten (10) trenches over an area approximately 32 meters wide by 42 meters long; additional sampling was conducted in a small adit. The exposed Lindsay structure and vein is approximately 830 m southeast of the main Carolay Vein and is at an elevation approximately 525 m below the exposed Carolay Vein. Please see attached map of the veins and structures.
The exposed portion of the Lindsay structure, which measures 13 metres wide and is open to the northwest, is structurally complex, containing both banded and brecciated textures, high sulphide zones and mineralized veinlets of sphalerite, galena and iron-manganese oxides. Much of the trenched and channel sampled material in the trenches is altered and potentially leached of metals.
The main Lindsay Structure has a strike of 277 degrees and a dip of 65 degrees northeast and may represent the main feeder structure to the Carolay system of veins. The channel sampling to date has yielded a number of very high-grade individual samples with potentially economic grades including the following:
� Channel 6-B: 109.6 g/t and 134.1 g/t Ag
� Channel 7: 1308 g/t and 253 g/t Ag
� Channel h: 99.5 g/t Ag
� Channel i: 93 g/t Ag
� Channel j: 174.2 g/t Ag
� Channel k: 569 g/t Ag
� Channel m: 177.1 g/t Ag
�These results demonstrate that the Lindsay Structure is potentially the feeder zone to the main Carolay Vein System and yields both a broad disseminated mineralized zone of silver and base metals along with many higher grade veins and zones within the structure,� said Mr. Lorne Woods, President of Sunset Cove. �The size of the area that has been sampled and its proximity to the Maria Structure and the MayLinn and MayLinn1 veins seem to outline a broad and well mineralized deep feeder zone and are changing the way we look at this part of the property.�
The Lindsay structure contains veinlets that have northwest, northeast and north-south directions with silver, zinc and copper values as well as anomalous gold values (highest value of 1.99 g/t) in the quartz veinlets. Increased gold values correlate directly with high levels of arsenic in the veinlets.
|
|
Description |
WIDTH |
g/t Ag |
%Cu |
%Zn |
g/t Au |
HIGH SILVER VALUES REGISTERED |
|
*SULFIDE ESTRUCTURE |
CHANNEL 6 |
3.05 |
2.27 |
0 |
0.02 |
0.02 |
Ag (8 g/t) |
|
CHANNEL 6-A |
0.96 |
15.11 |
0.02 |
0.63 |
0.01 |
Ag (61.4 g/t) |
|
CHANNEL 6-B |
0.82 |
90.87 |
0.08 |
0.07 |
0.01 |
Ag (109.6 and 134.1 g/t) |
|
CHANNEL 6-C |
1 |
8.76 |
0.01 |
0.1 |
0.16 |
Ag (23.1 g/t) |
|
CHANNEL 1 |
0.92 |
1.71 |
0 |
0.02 |
0.01 |
Ag (2.5 g/t) |
|
CHANNEL 2 |
1.91 |
0.62 |
0 |
0.03 |
0.03 |
Ag (2.4 g/t) |
|
CHANNEL 3 |
1.15 |
0.2 |
0 |
0.01 |
0.01 |
Ag (0.2 g/t) |
|
CHANNEL 4 |
2.66 |
0.66 |
0 |
0.01 |
0.04 |
Ag (3.5 g/t) |
|
CHANNEL 5 |
3.01 |
1.21 |
0 |
0.02 |
0.02 |
Ag (3.5 g/t) |
|
CHANNEL 7 |
3.07 |
259.21 |
0.25 |
0.15 |
0.01 |
Ag (1308 and 253 g/t) |
|
CHANNEL 20 |
2.55 |
2.47 |
|
0.05 |
|
Ag (7 g/t) |
|
|
|
|
|
|
|
|
|
|
*HYDROTHERMAL BRECCIA |
CHANNEL 13 |
1.31 |
14.5 |
0.04 |
0.13 |
0.02 |
Ag (34.7 g/t) |
|
CHANNEL 12 |
3.16 |
11.16 |
0.02 |
0.08 |
0.02 |
Ag (60.8 g/t) |
|
CHANNEL 11 |
3.64 |
1.21 |
0 |
0.03 |
0.01 |
Ag (3.2 g/t) |
|
|
|
|
|
|
|
|
|
|
CHANNELS BETWEEN *THE HYDROTHERMAL BRECCIA AND THE SULFIDE STRUCTURE |
CHANNEL 8 |
2.69 |
6.02 |
0.01 |
0.11 |
0.01 |
Ag (21.4 g/t) |
|
CHANNEL 10 |
2.47 |
2.26 |
0 |
0.02 |
0.02 |
Ag (3.9 g/t) |
|
CHANNEL 9 |
1.04 |
0.85 |
0 |
0.01 |
0.54 |
Ag (1.5 g/t) |
|
|
|
|
|
|
|
|
|
|
LOW ANGLE STRUCTURE |
CHANNEL 14 |
2.78 |
23.26 |
0.03 |
0.65 |
0.01 |
Ag (73.7 g/t) |
|
CHANNEL 15 |
1.79 |
1.62 |
0 |
0.02 |
0.04 |
Ag (2.5 g/t) |
|
CHANNEL 16 |
6.3 |
6.33 |
0.01 |
0.02 |
0.02 |
Ag (32.8 g/t) |
|
*SAMPLING CHANNELS IN THE SURROUNDINGS |
A |
6.22 |
1.52 |
0 |
0.03 |
0.01 |
Ag (3.8 g/t) |
|
B |
3.26 |
3.11 |
0.01 |
0.03 |
0.01 |
Ag (10 g/t) |
|
C |
4.26 |
0.48 |
0.01 |
0.08 |
0.01 |
Ag (1 g/t) |
|
D |
6.01 |
15.18 |
0.02 |
0.11 |
0.01 |
Ag (73.4 g/t) |
|
E |
3.19 |
3.81 |
0.01 |
0.03 |
0.01 |
Ag (5.7 g/t) |
|
F |
1.51 |
5.26 |
0.01 |
0.14 |
0.01 |
Ag (12.3 g/t) |
|
G |
1.9 |
2.46 |
0.01 |
0.02 |
0.01 |
Ag (2.9 g/t) |
|
H |
0.89 |
32.54 |
0.03 |
0.48 |
0.01 |
Ag (99.5 g/t) |
|
I |
1.32 |
34.26 |
0.05 |
0.72 |
0.01 |
Ag (93 g/t) |
|
J |
0.64 |
45.83 |
0.07 |
0.1 |
0.03 |
Ag (174.2 g/t) |
|
K |
1.42 |
135.05 |
0.08 |
0.76 |
0.01 |
Ag (569 g/t) |
|
L |
2.94 |
5.16 |
0.02 |
0.07 |
0.04 |
Ag (10 g/t) |
|
M |
0.27 |
177.1 |
0.1 |
0.25 |
0.01 |
Ag (177.1 g/t) only one result |
* The samples were classified in four different groups: Sulphide Structure, Hydrothermal Breccia, Low Angle Structure and Nearby Channels.
The structural Geology observed for the Lindsay structure is similar to a number of veins and structures of the Pataz Batholith, which is characterized by the presence of vein structures and stockworks with northwest, northeast and north-south directions. The mineralogy and geochemistry of the Lindsay structure (arsenic, pyrite, quartz, iron oxides, manganese and sporadically lead minerals) is also similar to that of the Pataz Batholith, where mining dates back to the 19th Century and is currently producing more than 42,000 ounces of Gold monthly. The gold in the Pataz Batholith is spatially associated with quartz and pyrite.
The widespread silver and base metal mineralization with sporadic gold values associated with the Lindsay structure likely indicate a hydrothermal flow coming up from lower levels. Gold values in the Lindsay structure are better than those of the Carolay structures located at the higher levels. The mineralogy of the Lindsay-Carolay Structure seems to be changing with depth and may indicate that better potential exists for gold lower in the system from areas that are near the San Sebastian River located at 1,800 m.a.s.l. The recent IP survey also indicates an increase in widespread chargeability with depth in the vicinity of the San Sebastian River. This could be due to alteration and/or the presence of increased amounts of pyrite.
The Huayobal Gorge, in the vicinity of the San Sebastian River, will be a priority for future exploration with a focus on alteration and structures with quartz and pyrite.
Quality Assurance � Quality Control
The Carolay property exploration program is under the supervision of Mr. Michael Dufresne., M.Sc., P.Geo. of Apex Geoscience an independent consultant and Qualified Person as designated by National Instrument 43-101 who has reviewed the technical content of this release. Mr. Bratzon Salvador, Operations manager, supervises exploration at Sunset Cove�s projects. All technical information for the company�s projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program.
About Sunset Cove - Sunset Cove Mining Inc., is a dynamic Canadian junior mineral exploration and development company dedicated to driving shareholder value through the economical acquisition, exploration and development of precious metals properties in proven Latin American locations to the point where they become attractive joint venture or acquisition targets. Sunset Cove is in Peru now, because now is the time to be in Peru, and has a wholly owned Peruvian subsidiary, Minera Sunset Del Peru S.A.C based in Lima, and is building a Peruvian mining portfolio in precious metals.
Forward-Looking Statements
Some of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company�s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mi ning operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.
�Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.�
For further information, please contact:
Lorne Woods
President Sunset Cove Mining
(877) 234-0692; ext. 250
lwoods@sunsetcovemining.com
www.sunsetcovemining.com
OR
Mario Drolet
(514) 904-1333
Mario@mi3.ca
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