 | | | Publié le 21 février 2008 | Central Sun Extends New Zone at Limon-Intersects 4.54 Grams Gold Per Tonne Over 15 |
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February 20, 2008
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Central Sun Extends New Zone at Limon-Intersects 4.54 Grams Gold Per Tonne Over
15.4 Metres True Width
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TORONTO, ONTARIO--(Marketwire - Feb. 20, 2008) - Central Sun Mining Inc. (TSX:CSM)(TSX:CSM.WT)(AMEX:SMC) -
CONFERENCE CALL
Central Sun Mining Inc. (the "Company") has scheduled a conference call for analysts and investors on Thursday, February 21, 2008 at 11:00 a.m. (Eastern) to provide an update on its exploration and operations activities.
Conference Call
To participate in the conference call, please dial 416-641-6132 or 1-866-226-1792 about five minutes prior to the start of the call.
EXPLORATION UPDATE
Limon Mine Area
Central Sun Mining Inc. has completed the first three diamond drill holes of a planned 10,000 metre program in the Limon Mine area. Results of the first two holes were previously reported in a press release dated January 29, 2008. The first three holes have successfully intersected a major new zone that significantly extends the potential downdip and on strike extensions of the Santa Pancha orebody as shown on the vertical longitudinal section (Figure 1). The Santa Pancha orebody, which has the highest grade of the Limon Mine area deposits, is currently being mined on the 100 metre level at a reserve grade of approximately 5.6 g Au/t.
Hole LM-08-003 intersected 4.54 g Au/t over a true width of 15.0 metres within a strong alteration zone 40 metres wide. Hole LM-08-003 extends the potential strike length of the new zone by over 200 metres. LM-08-003 is located approximately 200 metres south of Hole LM-08-001 which intersected 5.83 g Au/t (4.99 cut) over a 12.3 metre true width including 9.62 g Au/t (8.03 cut) over a 6.5 metre true width as previously reported.
As show in Figure 1, historical drilling further to the south of LM-08-003 intersected significant values of 28.93 g Au/t over 2.3 metres true width, 7.94 g Au/t over 8.85 metres true width and 4.57 g Au/t over 4.41 metres true width.
Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration commented, "This is an excellent result as the hole confirms significant gold mineralization in the area where very little exploration has been previously carried out. The good results from historical drill holes further to the south as shown on the longitudinal section indicate that the potential for further extending this new zone is excellent and significant. The next three holes will test this area and then a deeper cut of holes will be completed. This is a major structure that continues to be open both along strike to the south and down dip."
The Santa Pancha structure, located about 4 kilometres east of the Limon processing plant strikes N20E and extends for approximately 2.5 kilometres along strike. The target zone being tested as shown on the longitudinal section (Figure 1) extends for approximately 650 metres along strike from the No. 2 shaft area southwards to the No. 8 shaft. The vertical extent of the target zone is between 100 to 150 metres; however, the full potential extent of the epithermal vein system at depth has not been tested and remains open.
Orosi Mine Area
Exploration drilling at the Orosi Mine area has now started. A second drill rig has commenced drilling in the Orosi Mine area with a planned 10,000 metre program. An initial six holes totalling about 700 metres are being completed on the Santa Maria and Mojon structures as recommended by Scott Wilson Roscoe Postle Associates Inc. Compilation and interpretation of the historical drilling information has outlined a number of additional targets in the general mine area. A total of 3,000 metres of drilling are planned to test these targets. Line cutting is in progress on the potential northeastern extensions of the vein structures with induced polarization (IP) surveys to be carried out. Geological mapping, sampling and prospecting as well as data compilation for this area are in progress.
Mestiza Area
Exploration activity at Mestiza has also begun. IP surveys have commenced at the Mestiza property, located 70 kilometres east of Limon, along with geological mapping, sampling, prospecting and data compilation. Preliminary geological mapping indicates that it is likely that a complete epithermal system is exposed from the lower intrusive at La India 10 kilometres to the southeast to high level quartz veins at Mestiza. Vertically, the system appears to extend from about 500 metres to perhaps as much as 900 metres.
SAMPLING, ASSAYING AND QUALITY CONTROL
The core (NQ 47.6 mm) is logged, photographed and then sawn in half with one-half sent to the laboratory for analysis and the other half retained and stored on site. All core samples were prepared and assayed at the Company's Limon Mine laboratories. The Limon mine laboratory has a separate preparation circuit for exploration samples so that these are prepared and analyzed separately from run-of-mine samples. Samples for the Orosi drill program will also be analyzed at the Limon Mine laboratory until the second circuit currently being installed at the Orosi laboratory is completed.
The Limon laboratory uses normal industry procedures. The entire half-core samples are crushed to pass 10-mesh-size sieve, a 1/4 split is then pulverized to have greater than 90% passing the 200-mesh-sized sieve to produce a 100 gram homogenized sub-sample. A one-assay ton aliquot (a 29.2 gram sub-sample) is used for fire assaying with an atomic absorption (AA) or gravimetric finish to determine gold concentration. Internal quality control includes the use of blanks, duplicates and standards in every batch of samples. The Company also conducts internal check assaying. Regular external check assays are performed at a certified Canadian commercial laboratory and certified external reference standards are inserted into each batch.
Table 1A: Summary of Significant Drilling Results, Santa Pancha, Limon Mine
area
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Gold Zone
Hole(i) From To Core True (g/t)
(m) (m) Length Width ----------------------------
(m) (m) Uncut Cut(ii)
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LM-08-003 254.96 272.26 17.30 15.0 4.54 Santa Pancha
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(i) All holes are NQ core size
(ii) High sample assays capped at 25 Au g/t following the practice at the
Santa Pancha mine; the cut values were established geostatistically.
There were no assay sample values greater than 25 g Au/t in hole 3.
Table 1B: Collar Coordinates and Orientations of Drill Holes, Santa Pancha,
Limon Mine
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Hole Easting Northing Elev. Length Az(i) Dip(i)
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LM-08-003 19422.50 13441.00 60.50 315.85 291 -60
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(i) All measurements are in metres except Azimuth (Az) and Dip which are
measured in degrees.QUALIFIED PERSON
Dr. Bill Pearson, P. Geo, Executive Vice President, Exploration for Central Sun Mining, is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. The laboratory process reported herein and the internal quality control information are reviewed regularly by Dr. Pearson. Dr. Pearson has read and approved this news release.
About Central Sun Mining
The Company is a growing gold producer with mining and exploration activities focused in Nicaragua. The Company operates the Limon Mine in Nicaragua and is converting the Orosi Mine in Nicaragua to conventional milling to increase the annual gold output. It also holds an option to acquire a 100% interest in the Mestiza gold property which is located 70 kilometres east of the Limon Mine. The Company is focused on efficient and productive mining practices to establish high quality and cost effective operations. Central Sun Mining is committed to growth by optimizing current operations, expanding mineral reserves and resources at existing mines as well as exploring its extensive land holdings.
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995, and "forward-looking information" under similar Canadian legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and risk factors include, but are not limited to, statements with respect to the implementation of the Company's strategic plan; the future financial or operating performance of the Company, its subsidiaries and its projects; the future price of gold; expectation that the Orosi Mill feasibility study will be positive; capital requirements for completion of the Orosi Mill project; successful implementation of the Orosi Mill project; the estimated Orosi Mill recovery rates; the estimation of mineral reserves and resources, the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; operating and exploration expenditures; mining or processing issues; costs and timing of the development of new deposits; costs, timing and success of future exploration; government regulation of mining operations; permitting time lines and permitting; labour disruptions; environmental risks; unanticipated reclamation expenses; title disputes or claims; limitations on insurance coverage and regulatory matters. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of the Company as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources
The information presented uses the terms "measured", "indicated" and "inferred" mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
NOTE: To view the map associated with this press release, please visit the following link - http://media3.marketwire.com/docs/csm0220.pdf
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CONTACT INFORMATION:
Central Sun Mining Inc.
Peter W. Tagliamonte
President & CEO
(416) 860-0919
Fax: (416) 367-0182
Email: ir@centralsun.ca
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INDUSTRY: Manufacturing and Production - Mining and Metals
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Données et statistiques pour les pays mentionnés : Nicaragua | Tous Cours de l'or et de l'argent pour les pays mentionnés : Nicaragua | Tous
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Central Sun Mining Incorporation
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PRODUCTEUR |
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CODE : CSM.TO |
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Central Sun Mining Inc. est une société de production minière d'or basée . Central Sun Mining Inc. détient divers projets d'exploration au Nicaragua. Son principal projet en production est BELLAVISTA au Costa Rica, son principal projet en développement est OROSI au Nicaragua et ses principaux projets en exploration sont MESTIZA-LA INDIA, TATASCAME et SAN JUAN au Nicaragua. Central Sun Mining Inc. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 78,1 millions CA$ (63,0 millions US$, 47,4 millions €). La valeur de son action a atteint son plus haut niveau récent le 18 avril 2008 à 2,50 CA$, et son plus bas niveau récent le 21 octobre 2016 à 0,08 CA$. Central Sun Mining Inc. possède 109 940 000 actions en circulation. |
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