Sultan Minerals Drills Bulk Tonnage Tungsten Mineralization at its Jersey-Emerald Property, BC, Canada
Tue Apr 15, 8:30 AMVANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2008) - Sultan Minerals Inc. (TSX VENTURE: SUL.V)(FRANKFURT: RZN.F) ("Sultan") is pleased to report assay results for 9 holes, JS07-30 thru JS07-38, from the on-going drill program on its 100% owned Jersey-Emerald tungsten-molybdenum Property in southern British Columbia. The holes explored the East Emerald Tungsten Zone and show 6 tungsten bearing horizons, several of which are molybdenum rich, hosted within a 700-foot thick stratigraphic unit. The holes confirm the continuation of the tungsten mineralization over a length of 2,000 feet (600 metres) and a width of 700 feet (200 metres). The zone remains open to the north, south and west.
The East Emerald Tungsten Zone is a sizeable zone of low-grade, bulk tonnage, tungsten mineralization discovered by drilling in 2006. Assays from the earlier drill holes completed in November 2006, which are also along the east side of the zone, showed grades of 0.15% WO3 across core widths ranging from 15.0 to 54.5 feet within a 201.3 foot wide zone that assayed 0.08% WO3 (see News Release of Jan 17, 2007). The present drill results show many intersections of 0.20% WO3 to 0.45% WO3, often with associated molybdenum values, suggesting that grades improve to the north. The western up-dip extension of the mineralization is exposed on surface, suggesting that a significant percentage of the mineralization may be amenable to open pit mining. The mineralization lies directly above the Invincible decline, which is a large haulage tunnel designed to handle 40 ton trucks. This raises the possibility that the mineralization may be readily accessible to low-cost underground mining as well as surface mining operations.Significant intersections from the recent drill holes are given in the following table: -------------------------------------------------------------------------- DRILL-HOLE GRID GRID AZMTH/ FROM TO WIDTH WO3 MoS2 NUMBER North East DIP (feet) (feet) (feet) (%) (%) -------------------------------------------------------------------------- JS07-30 9165 8650 245/-55 107.00 120.00 13.80 0.01 0.11 -------------------------------------------------------------------------- and 141.60 148.40 6.80 0.07 0.31 -------------------------------------------------------------------------- and 579.90 708.90 129.0 0.09 -------------------------------------------------------------------------- Including 579.90 588.00 8.10 0.20 -------------------------------------------------------------------------- Including 678.00 708.90 30.90 0.20 -------------------------------------------------------------------------- Including 678.00 688.00 10.00 0.29 -------------------------------------------------------------------------- and 815.50 824.70 9.20 0.16 -------------------------------------------------------------------------- and 946.10 968.00 21.90 0.16 -------------------------------------------------------------------------- Including 953.20 958.00 4.80 0.25 -------------------------------------------------------------------------- and 998.00 1003.00 5.00 0.14 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-31 8657 8134 084/-55 88.80 98.00 9.20 0.08 -------------------------------------------------------------------------- and 190.30 198.00 7.70 0.12 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-32 9140 8400 105/-55 55.20 60.50 5.30 0.09 0.29 -------------------------------------------------------------------------- and 97.00 101.90 4.90 0.22 -------------------------------------------------------------------------- and 112.30 116.20 3.90 0.11 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-33 10060 8142 295/-80 78.00 81.90 3.90 0.06 0.12 -------------------------------------------------------------------------- and 326.50 336.50 10.00 0.25 0.20 -------------------------------------------------------------------------- and 448.00 520.40 72.40 0.12 -------------------------------------------------------------------------- and 448.00 487.50 9.50 0.18 0.03 -------------------------------------------------------------------------- and 527.80 534.00 6.20 0.08 0.18 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-34 10060 8142 295/-50 327.00 331.70 4.70 0.10 -------------------------------------------------------------------------- and 10060 8142 295/-50 417.50 427.00 9.50 0.30 0.34 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-35 10060 8142 145/-55 No Values -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-36 9765 8159 290/-90 183.30 205.00 21.70 0.11 -------------------------------------------------------------------------- Including 198.00 205.00 7.00 0.17 -------------------------------------------------------------------------- and 326.40 336.60 10.20 0.11 0.74 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-37 9765 8159 290/-70 168.50 187.60 19.10 0.11 -------------------------------------------------------------------------- -------------------------------------------------------------------------- JS07-38 9765 8159 145/-45 224.30 347.00 122.70 0.14 -------------------------------------------------------------------------- Including 224.30 244.90 20.60 0.21 0.05 -------------------------------------------------------------------------- Including 243.30 244.90 1.60 0.49 0.19 -------------------------------------------------------------------------- Including 293.30 347.00 53.70 0.20 -------------------------------------------------------------------------- Including 304.20 309.70 5.50 0.33 -------------------------------------------------------------------------- Including 332.80 347.00 14.20 0.45 -------------------------------------------------------------------------- Including 332.80 337.10 4.30 1.32 -------------------------------------------------------------------------- and 480.80 484.90 4.10 0.81 -------------------------------------------------------------------------- Note 1: All dimensions and core lengths are recorded in feet in order that results are compatible with the historic mine grid and the existing database of 5,600 drill holes. Convert feet to metres by multiplying by 0.304. Note 2: Intersection angles vary from 15 degrees to 90 degrees suggesting that the true width of the mineralized horizons range from 25% to 95% of the intersection widths.Drill holes JS07-30, JS07-31 and JS07-32 were drilled primarily to explore for lead mineralization north of the historic Emerald lead mine. The intended primary target was not encountered but the three holes intersected several bands of tungsten and molybdenum above the uppermost known tungsten mineralization. Good lateral continuity to the tungsten mineralization was exhibited by the presence of the zones in all 3 holes. Drill hole JS07-30 was drilled to depth and is the only hole to penetrate the entire East Emerald Zone. This hole intersected 6 tungsten bearing horizons including 2 molybdenum rich zones over a core length of 896 feet. Intersections of note included 0.09% WO3 across 129.00 feet, 0.29% WO3 across 10.00 feet, 0.20% WO3 across 30.90 feet, 0.16% WO3 across 21.90 feet and 0.31% MoS2 and 0.07% WO3 across 6.80 feet. The intersections seen in hole JS07-30 shows two prominent tungsten bearing horizons. The upper horizon which extends from a hole depth of 579.9 to 708.9 feet is now referred to as the Upper East Emerald Tungsten Zone. The lower horizon which extended from a hole depth of 815.5 to 1,003.0 feet has been named the Lower East Emerald Tungsten Zone. Tungsten and molybdenum intersections seen in holes JS07-31 and JS07-32 occur above the Upper East Emerald Zone. Holes JS07-33 and JS07-34, the two most northerly holes, intersected narrow sections of mineralization in both the Upper and Lower East Emerald Zones. Highlights of Hole JS07-34 include 0.30% WO3 and 0.34% MOS2 across 9.50 feet. Hole JS07-35 was drilled easterly to test the Emerald intrusive for molybdenum but found the granite to be un-mineralized in this location. Holes JS07-36, JS07-37 and JS07-38 intersected portions of both the Upper and Lower East Emerald Zones. Highlights include 0.11% WO3 and 0.74% MOS2 across 10.20 feet on Hole JS07-36. Hole JS07-38 was drilled easterly and intersected the western limit of the unmineralized Emerald intrusive. Hole JS07-38 intersected 0.14% WO3 across 122.70 feet including 0.20% WO3 across 53.70 feet and 0.45% WO3 across 14.20 feet. Together with six previous holes, E-06-01 to E-06-06, the drill results show six tungsten bearing horizons that have been traced along strike for 2,000 feet and through a stratigraphic thickness of almost 700 feet. Assays are pending for a further 9 drill holes, JS07-39 through JS07-47, that are expected to confirm the East Emerald Tungsten Zone over a strike length of 2,500 feet. Assays are presently awaited for 30 surface and underground drill holes in the ongoing drill program. Diamond drilling is currently underway on the East Dodger Molybdenum Zone where underground drill hole JM07-04 intersected 0.10% MoS2 over a core length of 548.0 feet. Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project supervisor and "Qualified Person" as defined by NI 43-101, "Standards of Disclosure for Mineral Projects". Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines for Placer-Dome, oversees the on-going diamond drilling programs. For further information on Sultan's projects, visit www.sultanminerals.com. Arthur G. Troup, P.Eng., Geological, President and CEO If you would like to receive press releases via email please contact catarina@chfir.com and specify "Sultan press releases" in the subject line. This release was prepared by Sultan management and no regulatory authority has approved or disapproved the information contained herein. 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 the Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com. SEC 12g3-2(b): 82-4741 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.ContactsMarc Lee
Sultan Minerals Inc.
Investor & Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
Email: mlee@sultanminerals.com / info@sultanminerals.com
Website: www.sultanminerals.com
Catarina Cerqueira
CHF Investor Relations
Associate Account Manager
(416) 868-1079, Ext. 251
Email: catarina@chfir.com
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