|Tue Dec 16, 2008|
Sultan Minerals Receives Environmental Baseline Report for the Jersey-Emerald Project, BC
|Sultan Minerals Inc. (SUL:TSX-V) ("Sultan" or the "Company") is pleased to announce that Wardrop Engineering Inc. ("Wardrop") has completed a report on a 12-month environmental baseline study carried out over its Jersey-Emerald property, located 10 km south of the community of Salmo in southeastern BC. The report represents another milestone in Sultan's efforts to expedite the re-opening of this historic tungsten and lead-zinc producer which was formerly owned and operated by Placer Dome.|
The Wardrop report documents an aquatic environmental baseline study conducted for Sultan in and around the Jersey-Emerald property from August 2007 to July 2008. The study was conducted in support of a proposal for future certification under the British Columbia Environmental Assessment Act to provide a basis for assessing the potential effects of the project on the aquatic environment. The study included sampling stations located over and adjacent to the historic mine. Study components included water quality, hydrology, aquatic biology, and fish and fish habitat.
The report notes a couple of interesting factors worthy of mention:
The PEA was based on a measured and indicated resource of 2.51 million tons averaging 0.37% WO3 and an additional inferred resource of 1.21 million tons averaging 0.40% WO3, both at a cut off grade of 0.15% WO3. The report suggested that the economics of the operation would be substantially improved by expanding the tungsten resource with additional diamond drilling in order to justify a 2,000 t/day operation.
Sultan has since completed approximately 20,000 metres of diamond drilling in 87 diamond drill holes and is awaiting results of an updated tungsten resource estimate being carried out by Giroux Consultants. The updated NI 43-101 compliant resource report is expected to be available in early January.
Assays are pending for samples from a program of trenching and surface prospecting recently completed over the south end of the Jersey-Emerald property. A large tungsten and lead-zinc soil anomaly centred 3.0 km south of the historic mine suggests there is good potential for additional new discoveries on this 9,300 hectare property.
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
For further information, please contact:
Marc Lee, Investor & Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
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 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 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.
You can view the Previous 2008 News Releases item: Tue Nov 18, 2008, Sultan Minerals Expands East Emerald Tungsten Zone at Jersey-Emerald Property, BC
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