Sultan Minerals Intersects Significant Zinc Mineralization at the HB Zone, Jersey-Emerald Property, BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/06/10 -- Sultan Minerals Inc. (TSX VENTURE: SUL)(FRANKFURT: RZN) ('Sultan') is pleased to announce results of an 8-hole diamond drill program and excavator trenching program on the HB and Garnet zones of its Jersey-Emerald Property. Results returned from this drilling and trenching indicate potential for significant zinc mineralization away from the historic zinc-lead mines (see Sultan News Release of June 1, 2010). Results include 8.16% zinc over 1.8 metres from drill hole HB1003, and 8.93% zinc over 1.5 metres from trench TR1001.
A total of 545 metres (1786.5 feet) of diamond drilling was completed in 8 drill holes, as well as 3 short excavated trenches. Locations of trenches and diamond drill holes are shown on the diagram below.
Drill hole HB1001 was collared to test a linear magnetic trend with coincident zinc in soil geochemistry to the west of the Garnet Mine. This hole intersected significant pyrrhotite in argillaceous schist. Hole HB1002 also intersected significant pyrrhotite in argillite to the north and east of the Garnet mine. Samples taken from these 2 holes did not intersect significant zinc values.
Holes HB1002 through HB1008 were collared within an area approximately 200 metres north of the Garnet Mine, to the west of the HB Mine. These holes tested areas of elevated lead and zinc in soil that is in places coincident with magnetic highs.
Three trenches were completed by excavator to reveal bands of sphalerite within limestone and dolomite seen in bedrock and historic hand trenches (TR1001 to TR10003). One sample was taken across mineralization from each trench and was shipped to Acme Laboratories in Vancouver for analysis. The following table provides the results from the trenching program.
Results of Trenching - HB Garnet Mine Area
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Hole # From To Width (m) Zn Assay%
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TR1001 1.5 3 1.5 8.93
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TR1002 1 2 1 5.06
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TR1003 0 1 1 6.11
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A total of 133 core samples were shipped to Acme Laboratories in Vancouver for analysis. The following table provides zinc analysis results from core sampling.
Results of Drilling - HB Garnet Mine Area
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Hole # From To Width (m) Zn Assay%
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HB1003 7.2 11.1 3.9 4.5
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including 7.2 9.0 1.8 8.16
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HB1004 17.4 18.0 0.6 2.04
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HB1005 23.4 24.8 1.4 7.75
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HB1005 30.3 32.4 2.1 3.87
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including 31.3 32.4 1.1 5.18
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HB1008 14.4 15.3 0.9 2.40
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including 14.4 14.9 0.5 3.76
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and 18.9 19.5 0.6 2.27
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Drill hole HB1003 returned an average grade of 4.5% zinc over a 3.9 metre width, including high grade intercepts of 8.16 % zinc over 1.8 metres. The mineralized zone intercepted in the HB1003 drill hole is interpreted to have been uncovered at surface in trench HB1001 that returned 8.93% zinc over 1.5 m width, and in trench HB1003 located approximately 125 metres to the south, which returned 6.11% zinc over a 1 metre width.
The geology intersected in drilling and trenching is similar to that of the historic Garnet Mine and is expected to be an extension of the mineralization northward from the mine. The mineralization including strong pyrrhotite mineralization in micaceous argillite and brecciated limestone and dolomite with and the zinc (sphalerite) mineralization. Short sections of sphalerite as banded sulphide were also encountered. The mineralization is partly mapped by the ground magnetic surveys which show a significant magnetic high trending north from the Garnet open pit. Other magnetic features may also host potential mineralization.
Sultan's geologic consultants continue to process the historic Cominco data from the HB and Garnet Mines. This information, combined with results of the recently completed trenching and drilling program, will assist in outlining the mineral potential within this area of the Sultan properties.
The Jersey Emerald property includes the Jersey Mine and the HB-Garnet mine which were the second and third largest lead zinc mines in BC's history. Sultan recently published a NI43-101 resource estimate for the lead zinc from the Jersey Emerald property, (please see News Release of March 1, 2010) showing an indicated resource of 1,900,000 tons averaging 1.96% lead and 4.10% zinc using a cut-off grade of 3.5% combined lead-zinc. There is an additional inferred resource of 4,980,000 tons averaging 1.95% lead and 3.37% zinc at the same 3.5% combined cut-off grade. The new resource is comparable in grade to the historic mine and is surrounded by a large low grade zone with an indicated resource of 5,320,000 tons averaging 1.04% lead and 2.60% zinc and an inferred resource of 16,930,000 tons averaging 1.00% lead and 2.18 % zinc using a cut-off grade of 1.5% combined lead-zinc.
Perry Grunenberg, P.Geo, of PBG Geoscience, manages exploration on the Jersey-Emerald project and is Sultan's supervisor and 'Qualified Person' for the purpose of NI 43-101 'Standards of Disclosure for Mineral Projects'.
For further information on Sultan's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological, President and CEO
To view accompanying map, click on the following link: http://www.sultanminerals.com/i/maps/2010July6-image.jpg
This release was prepared by Sultan's management. 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.
SEC 12g3-2(b): 82-4741
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.
Contacts:
Sultan Minerals Inc.
Marc Lee
Investor and Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
mlee@sultanminerals.com or info@sultanminerals.com
www.sultanminerals.com