Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that diamond drilling has resumed on its Jersey-Emerald Property in the Salmo area of British Columbia. Drilling is underway with a surface drill to investigate the potential of several new tungsten, zinc and molybdenum targets discovered in 2008 (see map).
Drill site preparation is currently underway and diamond drilling is scheduled to begin immediately. The program will initially involve drill testing three large new tungsten and zinc targets discovered by geochemical, geophysical and trenching programs completed in 2009 (see news release of February 17, 2009). Drilling is also planned for the recently acquired Victory Tungsten deposit and for targets discussed in the NI 43-101 Tungsten Resource Estimate released on January 21, 2009.
The Jersey-Emerald property is host to the historic Jersey Lead-Zinc Mine, British Columbia's second largest lead-zinc producer and the former Emerald Tungsten Mine, Canada's second largest tungsten mine. Year-round gravel roads and power lines cross the property and water is plentiful. Underground workings of the historic Jersey and Dodger deposits are in excellent condition allowing for future underground access with little rehabilitation.
The January 21, 2009, Tungsten Resource Estimate indicated remnant tungsten resource of 2,719,000 tons averaging 0.358% WO
3, and an additional inferred resource of 2,320,000 tons averaging 0.341% WO
3 at a 0.15% WO
3 cutoff. Exploration completed in 2009 shows there is potential to significantly expand the tungsten resource with exploration in both the historically mined areas and the surrounding terrain.
A geological review of historic data from the Jersey Zinc mine is also underway. The purpose of the study is to evaluate the potential for remnant zinc mineralization within the historic mine and to identify potential drill targets adjacent to the former zinc workings. Drilling completed by Sultan in 2007 intersected widespread zinc mineralization marginal to the historic workings suggesting that important zinc mineralization may extend to the east, west and south of the former mine.
Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is managing the exploration drill program and is Sultan's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects". Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Tungsten Mines is supervising the geological review of the Jersey Zinc Mine.
Sultan has recently completed a financing through Northern Securities and is well financed to undertake the work programs planned for its projects.
For further information on Sultan's projects, visit
www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and 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's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined 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 Sultan expects are forward-looking statements. Although Sultan 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 Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan'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=353502