TSX Venture Exchange
Symbol: SUL
SEC 12g3-2(b): 82-4741
Frankfurt Stock Exchange: RZN
Sultan Minerals Inc. (SUL:TSX-V) ("Sultan") has now received assays
for surface drill holes JS07-48 through JS07-61 on its 100% owned
Jersey-Emerald tungsten-molybdenum and lead-zinc property in southern British
Columbia. Five of the 14 widely spaced holes together with the 27 holes
reported in March demonstrate that lead-zinc mineralization extends well
beyond the limits of the historic mining operation at Jersey.
Drilling sought to determine the extent of lead-zinc beyond the southern end
of the historic Jersey mine, formerly BC's second largest lead-zinc mine.
Very favourable results were obtained from five of the holes which
intersected encouraging lead and zinc concentrations as far as 400 feet (122
metres) south and 450 feet (137 metres) east of the former mine workings.
These results together with assays reported in March have successfully
defined a 7,000-foot (2,100-metre) long corridor along the east margin of the
Jersey Mine that is prospective for lead and zinc mineralization. The
prospective corridor remains open to the south and east suggesting potential
for large extensions to the historic Jersey Zinc Mine. (See News Releases of
March 13 and March 27, 2008).
Significant lead, zinc and silver intersections from the five drill holes are
given in the following table:
DRILL-HOLE
NUMBER
|
GRID
North
|
GRID East
|
AZMTH/DIP
|
FROM
(feet)
|
TO (feet)
|
WIDTH
(feet)
|
Pb (%)
|
Zn (%)
|
Ag (g/t)
|
JS07-48
|
3620
|
7670
|
000/-90
|
18.00
|
46.50
|
28.50
|
3.98
|
0.71
|
11.50
|
and
|
|
|
|
95.00
|
103.00
|
8.00
|
0.32
|
1.68
|
2.20
|
|
|
|
|
|
|
|
|
|
|
JS07-49
|
3475
|
7672
|
000/-90
|
28.00
|
77.10
|
49.10
|
1.46
|
1.70
|
6.50
|
Including
|
|
|
|
89.80
|
91.30
|
1.50
|
3.83
|
0.14
|
10.20
|
and
|
|
|
|
100.60
|
104.30
|
3.70
|
0.19
|
2.50
|
3.30
|
|
|
|
|
|
|
|
|
|
|
JS07-50
|
3323
|
7632
|
000/-90
|
49.00
|
66.15
|
17.15
|
0.25
|
1.43
|
1.13
|
Including
|
|
|
|
49.00
|
62.20
|
13.20
|
0.31
|
1.77
|
1.10
|
|
|
|
|
|
|
|
|
|
|
JS07-53
|
3673
|
8105
|
000/-90
|
107.00
|
117.20
|
10.20
|
0.05
|
1.34
|
1.48
|
Including
|
|
|
|
113.30
|
117.20
|
3.90
|
0.13
|
3.34
|
2.10
|
and
|
|
|
|
537.60
|
568.00
|
30.40
|
|
0.28
|
1.87
|
|
|
|
|
|
|
|
|
|
|
JS07-56
|
2995
|
7103
|
000/-90
|
110.10
|
115.10
|
5.00
|
0.37
|
3.08
|
4.70
|
and
|
|
|
|
118.30
|
130.00
|
11.70
|
0.13
|
1.38
|
2.37
|
including
|
|
|
|
118.30
|
124.00
|
5.70
|
0.19
|
1.97
|
2.80
|
|
|
|
|
|
|
|
|
|
|
Note 1:
All dimensions and core lengths are recorded in feet in order that results
are compatible with the historic mine grid and the existing 5 databases of
5,600 drill holes. Convert feet to metres by multiplying by 0.304.
Note 2:
Drill hole intersection angles vary from 40� to 85� suggesting that the true
width of these intersections may range from 60% to 95% of the drill core
intersection length.
Note 3:
Drill Holes JS07-51, JS07-52, JS07-54, JS07-55 and JS07-57 through JS07-61
were drilled south and west of the Jersey Mine workings where they tested the
footwall rocks to the deposit. The holes carried no significant values
Three drill holes, JS07-48, JS07-49 and JS07-50 were drilled at 150-foot
intervals along the east side of the D-zone pit, to test for extensions of
the lead-zinc mineralization. This zone was extensively oxidized to a depth
of 50 feet or more and the oxide could not be recovered by diamond drilling.
The results from these holes demonstrate an eastern extension of the Jersey
deposit but are not representative of the true grade of the mineralization.
Drill hole JS07-53 was drilled 450 feet east of the D Zone pit to explore for
a possible eastern extension of the Jersey Lead-Zinc Deposit. The hole was
also designed to test for a possible southern extension of the East Dodger
Tungsten Deposit. The Pb and Zn values found in this hole are encouraging and
need further review and follow up drilling.
Drill hole JS07-56 tested the southern continuation of the Lower Jersey
Lead-Zinc horizon. These results are encouraging and will require future
follow up.
These five drill holes together with the 27 holes reported in March
demonstrate that lead-zinc mineralization extends well beyond the limits of
the historic mining operation at Jersey.
Drill holes JS07-53 and JS07-60 intersected zones of tungsten and molybdenum
in the formations located below the favourable lead-zinc horizon.
Significant tungsten and molybdenum intersections from these holes at Emerald
are given in the following table:
DRILL-HOLE
NUMBER
|
GRID
North
|
GRID East
|
AZMTH/DIP
|
FROM
(feet)
|
TO feet)
|
WIDTH
(feet)
|
WO3
(%)
|
MoS2
(%)
|
JS07-53
|
3673
|
8105
|
000/-90
|
378.80
|
405.05
|
26.25
|
0.07
|
|
Including
|
|
|
|
383.90
|
398.00
|
14.10
|
0.10
|
|
Including
|
|
|
|
383.90
|
390.40
|
6.50
|
0.14
|
|
|
|
|
|
|
|
|
|
|
JS07-60
|
6535
|
6330
|
55/-50
|
72.0
|
94.00
|
22.00
|
|
0.05
|
Including
|
|
|
|
72.0
|
74.6
|
2.60
|
|
0.23
|
and
|
|
|
|
128.6
|
132.9
|
4.30
|
|
0.05
|
The tungsten mineralization intersected in drill hole JS07-53 is situated
2,800 feet south and along strike from hole JS07-25 which intersected 0.65%
WO3 over a core length of 14.2 feet. The intersections show a
3,200 foot long, north-south, corridor situated south of the historic East
Dodger Tungsten Mine that has potential to host important tungsten
mineralization.
Drill hole JS07-60 lies 2,500 feet west of the East Dodger Molybdenum Zone
and may represent the western end of this recently identified molybdenum
zone.
Assays are pending for a further 12 underground drill holes recently
completed on the East Dodger Molybdenum Zone. In June and July 2007 underground
drilling on the East Dodger Zone intersected important molybdenum
mineralization over widths ranging from 160.00 to 548.0 feet. Intersections
included 0.21% molybdenum sulphide (MoS2) over a core length of
160.0 feet, 0.12% MoS2 over 311.0 feet, 0.10% MoS2 over
548.0 feet and 0.18% MoS2 over 90.0 feet. The holes also
intersected several higher-grade sections that included 0.28% MoS2
over a core length of 79.9 feet, 0.41% MoS2 over 60.0 feet, 0.23%
MoS2 over 43.0 feet and 1.81% MoS2 over 9.9 feet.
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. 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,
"Standards of Disclosure for Mineral Projects".
For further information on the Company's projects, visit www.sultanminerals.com.
Please click to view Drill Hole
Locations 2007 Drill Program Map.
Click to enlarge
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
Catarina Cerqueira, Associate Account Manager
CHF Investor Relations
Tel: (416) 868-1079, Ext. 251
Email: catarina@chfir.com
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.