Sultan Minerals Obtains 25.6 g/t Gold Across a 1.9 Metre Wide Vein on Its BC Gold Property


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TSX.V:SUL
12/16/2013 [ACCESSWIRE]

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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