Santa Fe Metals-Sullivan Time Projected at East Gravity Target, Drill Program Expands With a New Drill Hole
07 Mai 2014 - 2:00PM
Marketwired
Santa Fe Metals-Sullivan Time Projected at East Gravity Target,
Drill Program Expands With a New Drill Hole
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2014) -
Editors Note: There is a photo associated with this press
release.
Santa Fe Metals Corporation (TSX-VENTURE:SFM) ("SFM" or the
"Company") announces that drill hole SU14-07 has reached a
completion depth of 1,289-m at the Sully Project, having
successfully confirmed Lower Aldridge formation host rocks, and
importantly, a projection for Sullivan time that is coincident with
the large-scale East gravity mass. A new drill hole (SU14-08) will
begin immediately on a trajectory to intersect the East Target at
approximately 900-m below surface, see figure attached.
Aldridge Formation Host
SU14-07 revealed that Aldridge Formation unit A1c is the likely
host to the East Target - this directly correlates with the
stratigraphy that hosts the Sullivan orebody, 30-kms to the west of
Sully. Aldridge units A1a (lowest), A1b and A1c were deposited on
the Fort Steele Formation and all four units correlate with the
lower Aldridge Formation at Sullivan and elsewhere in the basin. A
marked thickening of A1c in SU14-07 implies proximity to an
accumulation centre of an inferred sub-basin assemblage. Within
this thickening is a 50-m interval containing traces of lead, zinc
and copper sulphides and unusual thin silica beds thought to be
derived from hydrothermal solutions associated with formation of a
mineral deposit.
Structural Setting
A series of parallel low-angle, west-dipping faults was also
intersected in SU14-07. These have repeatedly offset the observed
Aldridge stratigraphy (and the projected target horizon) in
discrete fault blocks stepping to the east with depth. As shown on
the attached figure, SU14-07 was unlikely to intersect the target
until much greater depths and as a result management has commenced
a new test hole aimed at a higher pierce point.
The Sully Project
Sully is located near Fort Steele, 30-kms 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-m of
surface, and extending to depth. Coincident magnetic anomalies
reinforce the positioning of the large-scale gravity masses also
estimated to be approximately 800-m 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.
To view the photo associated with this release, please visit
the following link:
http://www.marketwire.com/library/20140507-sfm507-gr.jpg
Santa Fe Metals CorporationScott E. Broughton, P.Eng.President
and CEO604.684.2900www.santafemetals.com
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