Sultan Minerals Commences Sampling Program on the Daylight Gold Property, B.C.
November 05 2013 - 9:14AM
Access Wire
Vancouver, BC - November 5, 2013
: Sultan Minerals Inc. (TSX-V:
SUL; "Sultan") is pleased to announce that Jack
Denny and Associates of Salmo, BC, have been contracted to conduct
a prospecting and sampling program on Sultan's Daylight Gold
Property located south of the community of Nelson, British
Columbia.
The Daylight property
was initially staked and worked in 1893 following discovery of the
famous Silver King Copper-Silver Mine located 500 metres to the
south. The Daylight Property is host to a number of vein, stockwork
and porphyry style gold and gold-copper occurrences including the
historic Starlight, Victoria, and Daylight gold-silver-copper
mines.
The Starlight,
Victoria and Daylight mines were operated intermittently from 1937
to 1949 and shipped high grade gold, copper and silver ores to
Trail, BC for refining. The historic mines focused on quartz veins
that were up to 1.5 metres in width. The quartz veins are
surrounded by a low grade network of smaller veins in an altered
shear zone that is reported to be up to 50 metres wide. Associated
sulfides, consisting of pyrite with variable amounts of
chalcopyrite occur both in the quartz veins and in the surrounding
altered shear zone.
In 2003, Walcott and
Associates completed an Induced Polarization (IP) survey over the
Daylight Property. The survey results showed the three mines were
connected by a large complex zone of strongly anomalous
chargeability readings trending northwest across the Daylight
property and open at both its southeastern and northwestern
extremities (see map). Walcott concludes that there is reasonable
probability for the existence of porphyry style gold-copper
mineralization in the underlying rocks, and recommends that the
target be investigated by trenching and diamond drilling. The
anomaly was not followed up because Sultan did not completely own
the Daylight property at that time.
The Daylight property
was eventually acquired by Sultan in November 2011. The current
prospecting and sampling program will attempt to verify the grades
of the historic workings and prepare the zone for an expanded
trenching and drilling exploration program in 2014.
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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This release was
prepared by Sultan's management. Neither TSX Venture Exchange nor
its Regulation Services Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. 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 Sultan's filings
that are available at www.sedar.com or Sultan's website at
www.sultanminerals.com.