Santa Fe Metals Corp.: Sully SEDEX Project - Drilling Update
21 April 2014 - 3:09PM
Marketwired
Santa Fe Metals Corp.: Sully SEDEX Project - Drilling Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 21, 2014) -
Santa Fe Metals Corp. (TSX-VENTURE:SFM) ("SFM" or the "Company")
announces that drill hole SU14-07 is now over 610-m deep and is
continuing on a planned trajectory toward the East sedimentary
exhalative (SEDEX) target.
Trace amounts of sphalerite, galena and chalcopyrite (sulphide
minerals of zinc, lead and copper, respectively) have been logged
in SU14-07 over a large interval, and occur in greater amounts than
observed in all previous drill holes at Sully. These are typically
scattered, and accompanied by pyrrhotite and pyrite. The project
team does not expect massive sulphides above a depth of 800-m based
on gravity data interpretation and the occurrence of trace
sulphides at these depths in the current hole is very
encouraging.
The drill hole also has four types of alteration not seen in
previous drilling that might indicate the potential for
mineralization at depth or in the vicinity of SU14-07, including;
wavy seams of biotite (up to 4-mm); dolomite-quartz veins (up to
300-mm); intense bleaching (up to 5-m); and, siliceous pods and
lenses (10 to 30mm) are possible exhalite beds.
The alteration most commonly associated with the large interval
of trace sulphides is dolomite-quartz veinlets and pods. This new
observation is intriguing as it is a feature similarly associated
with large stratabound copper- lead- zinc deposits.
The Sully Project
Sully is located near Fort Steele, 30-kilometres east of the
world-famous Sullivan mine at Kimberley, B.C. The East target is
one of two gravity mass anomalies estimated to come within 800
metres of surface, and extending to depth. Coincident magnetic
anomalies reinforce the positioning of the large-scale gravity
masses also estimated to be approximately 800m apart. Management
believes the best explanation for the twin gravity anomalies is the
presence of two very large vertically oriented SEDEX massive
sulphide bodies.
The Sullivan Mine
Sullivan was discovered in 1892 and is one of the largest SEDEX
deposits in the world. Over its roughly 100-year lifetime, Sullivan
produced almost 300 million ounces of silver, 36 billion pounds of
lead and zinc plus smaller amounts of other metals, collectively
worth over $40-billion at current metal prices. The company
cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the
Sully property.
Technical contents of the Sully project disclosure in this
news release have been reviewed and approved by Paul Ransom,
P.Geo., a qualified person as defined by National Instrument
43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Santa Fe Metals Corp.Scott E. Broughton, P.Eng.President and
CEO604.684.2900www.santafemetals.com
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