Sultan Minerals Obtains 25.6 g/t Gold Across a 1.9 Metre Wide Vein on Its BC Gold Property
16 Dezember 2013 - 3:20PM
Access Wire
Sultan Minerals Inc.
(SUL - TSX Venture) ("Sultan" or the "Company")is pleased to
announce results of the November sampling program completed on its
100% owned Daylight Gold Property located 10 km south of the town
of Nelson in southeastern, British Columbia. The highlights of the
program were: 1) the Starlight Gold Vein which averaged
10.3 g/t gold and 68.15 g/t
silver from seven samples taken over a 60.0
metre vein length with an average vein width of 1.6 metres and 2)
the Victoria Gold Vein where a single sample assayed
28.1 g/t gold across a vein
width of 0.85 metres.
The Daylight Gold
Property includes a number of historic vein, stockwork and porphyry
style gold and gold-copper occurrences including the historic
Starlight, Victoria and Daylight gold-silver-copper mines which
operated intermittently prior to 1949. Mining ceased in 1949
because gold grades of less than one ounce per ton were
insufficient to cover the cost of mining and shipping the ores to
the smelter at Trail, BC.
The
Starlight Gold Vein was staked in 1893 and
developed in 1894 with 100 metres of underground drifting.
Development work showed a 45 metre wide gold bearing shear zone
situated between two porphyry dykes. The schisty shear zone was
reported to average 1.0 to 3.0 g/t gold and centred on a quartz
vein that was worked along strike for 210 metres and averaged
greater than 0.5 metres in width. The shipped ore averaged 27.7 g/t
gold, 13.9 g/t silver and 0.96% copper (BC Minister of Mines Report
1894, p84).
The present sampling
program successfully located the workings and the Starlight Vein
was intermittently sampled along a 60.0 metre long surface
exposure. Assays for 7 samples taken from the Starlight Vein show
an average gold grade of 10.3 g/t gold and 68.15 g/t silver
(samples SD13-03 to -05, and -07 to -10).. Assays from the
Starlight vein and associated waste rock dumps are tabled
below:
----------------------------------------------------------------------
|Sample No|Starlight Vein Sample Description|Au (g/t)|Ag (g/t)|Cu (%)|
|--------------------------------------------------------------------|
|SD13-01 |Grab from waste dump at west end |11.6 |53.4 |> 1.00|
| |of Starlit vein | | | |
|--------------------------------------------------------------------|
|SD13-02 |Grab from waste dump 10m east of |4.6 |11.7 |0.56 |
| |sample SD13-01 | | | |
|--------------------------------------------------------------------|
|SD13-03 |3.0 m chip along Starlight vein |2.4 |39.1 |> 1.00|
| |-18-21m | | | |
|--------------------------------------------------------------------|
|SD13-04 |1.9 m chip across Starlight vein |14.0 |41.3 |> 1.00|
| |at 22.5m | | | |
|--------------------------------------------------------------------|
|SD13-05 |1.9m chip across Starlight vein |25.6 |175.2 |0.34 |
| |at 28.0m | | | |
|--------------------------------------------------------------------|
|SD13-06 |Composite sample of waste rock |3.9 |39.1 |0.13 |
| |dump at 33.0m | | | |
|--------------------------------------------------------------------|
|SD13-07 |1.65m chip across Starlight vein |1.3 |66.8 |0.05 |
| |at 39.0m | | | |
|--------------------------------------------------------------------|
|SD13-08 |0.50 m chip across Starlight vein|3.9 |14.7 |0.14 |
| |at 47.0m | | | |
|--------------------------------------------------------------------|
|SD13-09 |1.55 m chip across Starlight vein|17.0 |66.6 |0.23 |
| |at 50.0m | | | |
|--------------------------------------------------------------------|
|SD13-10 |0.60 m chip across Starlight vein|1.9 |11.6 |0.32 |
| |at 60.0m | | | |
----------------------------------------------------------------------
*Sampling at the Starlight Vein is preliminary
and results do not necessarily reflect the true average gold or
silver content of the vein.
The
Victoria Vein is located 600 metres southeast
of the Starlight mine along the Starlight shear zone. The mine
was developed with two adits over a combined
length of 450 metres of underground workings. Mining focused
on a 0.7 metre wide quartz vein and an
associated 7 metre wide shear zone from which
3,255 tonnes of material with a grade of 1.16 grams
per tonne gold, 26.9 grams per tonne silver and 2.57% copper per
tonne was shipped (BC Minfile Report:
082FSW173).
The present sampling program
successfully located the Victoria mine workings which could not be
accessed due to collapse of the portals. Assays for three surface
samples taken from the quartz vein and waste rock dumps found at
the entrance to the mine are tabled below.
---------------------------------------------------------------------
|Sample No|Victoria Vein Sample Description|Au (g/t)|Ag (g/t)|Cu (%)|
|-------------------------------------------------------------------|
|SD13-11 |0.85 m chip across Victoria vein|28.1 |18.5 |0.01 |
| |at portal | | | |
|-------------------------------------------------------------------|
|SD13-12 |Grab from Victoria quartz vein |37.0 |5.30 |- |
| |at portal | | | |
|-------------------------------------------------------------------|
|SD13-13 |Grab from pyritic schist on |0.10 |0.50 |0.01 |
| |waste rock dump | | | |
---------------------------------------------------------------------
The
Daylight Mine is located 1.5 km southeast of
the Victoria mine along the Starlight shear zone. Production
commenced in 1937, and continued intermittently until 1949. Mine
grades are reported to have averaged 27.0 grams per tonne gold and
15.0 grams per tonne silver (BC Minfile Report:
082FSW175).
The present sampling
program successfully located the Daylight mine workings which were
exposed by recent logging operations. The historic shaft was
collapsed and could not be sampled. Assays for three samples taken
from the exposed wall rocks and waste rock dumps near the historic
shaft are tabled below.
---------------------------------------------------------------------
|Sample No|Daylight Vein Sample Description|Au (g/t)|Ag (g/t)|Cu (%)|
|-------------------------------------------------------------------|
|SD13-14 |Grab from Waste Dump at Daylight|5.30 |1.5 |0.04 |
| |Shaft | | | |
|-------------------------------------------------------------------|
|SD13-15 |Grab from wall rock to Daylight |0.10 |0.4 |- |
| |vein | | | |
|-------------------------------------------------------------------|
|SD13-16 |Grab from Waste Dump 30 metres |21.40 |11.4 |- |
| |from Shaft | | | |
---------------------------------------------------------------------
The reader is
cautioned that the recent prospecting program was carried out under
winter conditions that forced the termination of the program before
the property could be fully assessed. Because of snow and ice
conditions the sampling was not done by a systematic method that
would allow for a true average grade to be determined for the
veins. The results of this preliminary assessment support the
historic grades reported for the deposits and positively indicate
further sampling is warranted, but may not reflect the true
potential of the veins.
Property Scale Targets
The three historic
mines investigated by this program are all located along the
Starlight shear Zone which Sultan has traced with an IP Geophysical
Survey for 3.0 km across the Daylight Property (see map). A
parallel shear zone located 400 metres northeast of the Starlight
zone was also traced for a similar distance by the IP Geophysical
survey. This second shear zone has an associated strong gold soil
anomaly along its north end suggesting it may have potential for
similar mineralization.
In light of the
extremely encouraging assay results returned from prospect sampling
of the veins, a follow-up program involving additional surface
sampling, trenching and diamond drilling is planned for 2014. The
program will investigate the potential of the property for high
grade vein type mineralization as well as bulk-tonnage gold
mineralization.
Perry Grunenberg,
P.Geo., is Sultan's "Qualified Person" for the purpose of National
Instrument 43-101, who has reviewed and verified the contents of
this news release.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further
information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@sultanminerals.com
or info@sultanminerals.com
For further
information on Sultan's projects, visit www.sultanminerals.com.
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