|Thu Dec 20, 2007|
Sultan Minerals Drills First Hole To 1,800 Ft On Kena Gold Property, British Columbia
TSX Venture Exchange Symbol: SUL
SEC 12g3-2(b): 82-4741
Frankfurt Stock Exchange: RZN
Vancouver, B.C. - Sultan Minerals Inc. (SUL - TSX-V) ("Sultan") is pleased to report that the first hole of its current drill program at its 100%-owned, 8,000 hectare Kena Gold Property in British Columbia, has been completed at a depth of 548 metres (1,800 feet). Favorable alteration, locally displaying disseminations of fine free gold, was observed from the top of the hole to a depth of 457 metres (1,500 feet). The drill core is being split and logged to be sent out for "rush" assaying.
The focus of the drill program is to expand the gold resource announced in the NI 43-101 report of June 2004 which recommended a $1.2 million exploration program. Of particular interest to Sultan is a 7.0 kilometre long gold soil anomaly located near the north end of the property. The soil anomaly encompasses the Gold Mountain and Kena Gold Zones, both of which host large porphyry gold deposits.
The objective of this first hole is to explore the depth extension of the Gold Mountain Zone where previous drilling has shown grades of greater than 1.0 g/t gold to extend as deep as 240 metres below surface. Sultan's geologists report that the present hole was collared in the gold bearing Silver King Porphyry and the formation persisted to a depth of 457 metres (1,500 feet). Favorable alteration, locally displaying disseminations of fine free gold, was observed over this entire interval. At a hole depth of 457 metres (1,500 feet) the hole intersected the unmineralized volcanics that form the east wall of the Gold Mountain Zone. The hole was stopped at a depth of 548 metres (1,800 ft).
Sultan's President and CEO, Arthur G. Troup, commented "We are very excited by the fact that this drill hole persisted in the favourable host rocks for 457 metres. Geological information gathered from this hole suggests that the mineralized zone is steeply dipping to the west where it may extend to much greater depths. The drill casing has been left in the hole and in 2008 Sultan hopes to re-enter the hole with directional drilling equipment to test the western down dip extension of the zone. "
The Kena Gold Property is located 60 kilometres northeast of the historic Rossland Mining Camp in southeastern, British Columbia. Rossland was BC's second largest gold camp, with historic production of 3.0 million ounces of gold.
All aspects of the Company's project exploration program are supervised by Linda Dandy, P.Geo., of P&L Geological Services and a Qualified Person under National Instrument 43-101, "Standards of Disclosure for Mineral Projects." The program is being carried out in conjunction with the ongoing drilling program at the nearby Jersey-Emerald molybdenum, tungsten and lead-zinc property.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P. Eng., Geological
President and CEO
For further information, please contact:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. This release was prepared by Sultan management and no regulator 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 the Company expects are forward-looking statements. Although the Company 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 the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.sultanminerals.com.
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