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Wednesday,
May 7, 2008
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Metallics Gold Assay Increase Grade On Sultan
Minerals' Kena Property, BC - Expanded Work Program Planned
Vancouver, BC - Sultan Minerals Inc. (SUL - TSX-V) ("Sultan") is pleased to report a second set
of gold assay results for a deep drill hole completed in December on its
100%-owned, 8,000 hectare, Kena Gold Property in British Columbia. This
drill hole, located centrally in the Gold Mountain Zone of the Kena
Property, confirmed that gold mineralization extends from surface to a hole
depth of 435.33 metres (1,428 feet) which is well below any previous drill
intersections, as previously announced on February 27, 2008.
In follow-up to the original assays, eleven drill core storage samples were
re-assayed for gold using the metallics gold assay method. The procedure
involved pulverizing and screening one kilogram splits and assaying both
the fine and coarse screened fractions. The following table compares the
gold assays from the original fire assays processed with the new metallics
assay results. As
demonstrated by the table, metallics assaying of these eleven samples show
an average increase in gold grade of 12%.
Hole #
|
Tag #
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From
(m)
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To
(m)
|
Width
(m)
|
Au by
Fire
Assay
(g/t)
|
Au by
Metallics
Assay
(g/t)
|
Au
Difference
(g/t)
|
Au
Difference
(%)
|
07GM-01
|
39028
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56.73
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58.73
|
2.00
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1.26
|
1.20
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-0.06
|
-5
|
07GM-01
|
39029
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58.73
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60.73
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2.00
|
2.48
|
1.95
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-0.53
|
-21
|
07GM-01
|
39034
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68.73
|
70.73
|
2.00
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4.37
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7.04
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+2.67
|
+38
|
07GM-01
|
39064
|
128.27
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129.27
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1.00
|
3.62
|
5.65
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+2.03
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+36
|
07GM-01
|
39078
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154.73
|
156.73
|
2.00
|
2.51
|
2.98
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+0.47
|
+16
|
07GM-01
|
39117
|
232.73
|
234.73
|
2.00
|
20.72
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21.51
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+0.79
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+4
|
07GM-01
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39141
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280.73
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282.73
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2.00
|
1.38
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1.40
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+0.02
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+1
|
07GM-01
|
39166
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330.73
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332.00
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1.27
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5.09
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9.10
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+4.01
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+44
|
07GM-01
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39189
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373.99
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374.75
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0.76
|
1.08
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1.21
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+0.13
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+11
|
07GM-01
|
39215
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423.33
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425.33
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2.00
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9.66
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11.26
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+1.60
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+14
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07GM-01
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39220
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433.33
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435.33
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2.00
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1.46
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1.39
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-0.07
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-5
|
Due to the meaningful variance results from the metallics gold assays,
additional samples are now being re-assayed in the laboratory and results
are pending.
The 2007 drill results suggest that gold grades may extend well below
the depth of previously drilling on the Gold Mountain Zone. The most recent
test results suggest that gold grades may increase if the metallics assay
technique is employed.
For full drill hole results from the fall 2007 diamond drilling program on
the Gold Mountain Zone, see Sultan's News Release dated February 27th,
2008. From bedrock surface to a depth of 435.33 metres, diamond drill hole
07GM-01 assays 0.50 g/t gold over a core length of 430.0 metres (1,428
feet). Of particular interest is a 101.27 metre section that averaged 0.84
g/t gold from 230.73 to 332.00 metres all below the level of previous
drilling on this target.
This hole was collared adjacent to a fence of previously drilled shallower
holes which all show broad zones of gold mineralization remaining open to
depth. Results from these prior drill holes include hole 01GM-01 with 1.16
g/t gold over 106 metres (from 8 to 114 metres depth); 01GM-02 with 1.00
g/t gold over 119 metres (from 6 to 125 metres depth); hole 01GM-03 with
1.87 g/t gold over 116.05 metres (from 8 to 124.05 metres depth); hole
01GM-04 with 1.01 g/t gold over 116 metres (from 18 to 134 metres depth);
hole 01GM-05 with 1.03 g/t gold over 152 metres (from 14 to 166 metres
depth) and hole 01GM-08 with 1.01 g/t gold over 186 metres (from 24 to 210
metres depth).
Permitting is now underway for Sultan's expanded 2008 work program on the
Kena Property. Work will consist of additional drilling in the Gold
Mountain Zone in order to test gold grade at depth. A series of trenches,
followed up by diamond drilling is also planned for the Kena Gold-Copper
Zone located 3.0 km south of Gold Mountain. Encouraging gold-copper results
were obtained from a soil sampling and rock chip sampling program completed
over this coincident gold and copper soil anomaly in 2007, (see News
Release dated January 29, 2007).
The 2008 exploration program on the Gold Mountain and Kena Copper Zones
will commence as snow conditions allow.
The Kena Gold Property is located 60 kilometres northeast of the historic
Rossland Mining Camp, British Columbia's second largest gold camp. All
aspects of the Company's project exploration program are supervised by
Linda Dandy, P.Geo., a Qualified Person under National Instrument 43-101,
"Standards of Disclosure for Mineral Projects." The program is
being carried out in conjunction with the ongoing drilling program at the
nearby Jersey-Emerald molybdenum, tungsten and lead-zinc property.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G.
Troup, P. Eng., Geological
President and CEO
For further information, please contact:
Marc Lee, Investor & Corporate Communications
Telephone: (604) 687-4622 Fax: (604) 687-4212
Email: mlee@sultanminerals.com
or info@sultanminerals.com
Or
Catarina Cerqueira
Associate Account Manager
CHF Investor Relations
Phone: (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 regulator 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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