SFM

Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces
that drill hole SU14-08 has reached a completion depth of 1,115-m. The Project
Team has determined that the large-scale East Target gravity mass is likely
hosted in stratigraphy immediately above the trace of the hole based on
interpretation of new geological and geophysical data (as shown on the attached
sketch; to view, please visit http://media3.marketwire.com/docs/948263-F1.pdf). 


Overturned Aldridge Formation Host Confirmed 

DDH SU14-07 revealed that Aldridge Formation unit A1c is probably host to the
East Target gravity mass but that hole continued through a repeating sequence of
lower Aldridge rocks that served to offset the target to the east with
increasing depth. DDH SU14-08 confirmed the presence of a large-scale vertical
fault that offsets an overturned fold sequence. That sequence is likely further
offset by low angle normal faults as interpreted in DDH SU14-07. The net effect
of this complex structural setting is that the gravity mass target appears as a
more moderately east dipping feature than originally conceived. DDH SU14-08 was
stopped because it was unlikely to test the target until much greater depth.


Gravity Data and Geology Review 

Updated gravity modeling using the latest geological interpretation has provided
new insights to the East Gravity Mass size and its orientation. The target now
resolves as a large-scale mass dipping roughly 45-degress to the east, with a
centroid depth in the 800-m range as previously reported, but higher components
to it at a depth of 500 to 600-m west of the centroid. The Company's geophysical
consultants, Excel Geophysics Inc. have also estimated that the gravity
measurements suggest a mass in excess of 100 MT at the East Target. To date
nothing with sufficiently high specific gravity has been intersected in any of
the test holes to account for the observed gravity response.


DDH SU14-09 Preparation Underway - Drilling to Commence Wednesday 

A drill hole completed in 2004 (DDH SU04-03) to a depth of 442-m has been
recently surveyed and is permitted for deepening. This hole is at an excellent
location to test the East Gravity Mass Target as it is now modeled and the drill
is being moved to this collar location and will commence drilling by Wednesday
May 28, 2014. The hole will be known as DDH SU14-09 and deepened by only 250-m
to test the revised target volume immediately above DDH SU14-08.


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 now estimated to come within 500-m of surface and extending to depth
with an east dip of approximately 45-degrees. Coincident magnetic anomalies
reinforce the positioning of the large-scale gravity masses. Management believes
the best explanation for the twin gravity anomalies is the presence of two very
large SEDEX massive sulphide bodies hosted in lower Aldridge Formation rocks
correlating to Sullivan Time.


The Sullivan Mine 

Sullivan was discovered in 1892 and having produced roughly 160 million tons of
ore 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. and Brian Jones, P.Geo., both
qualified persons 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. 


Scott E. Broughton, P.Eng., President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Fe Metals Corporation
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
Von Jun 2023 bis Jun 2024