Sultan Minerals Commences Resource Calculation on its Tungsten-Molybdenum Project
Wednesday, August 9th 2006
Sultan Minerals Inc. is pleased to announce that it is in the process of completing a preliminary resource evaluation for tungsten and molybdenum mineralization on its Jersey-Emerald Property in British Columbia, Canada. Sultan has retained the services of Giroux Consultants Ltd. of Vancouver, BC to complete the resource calculations.
The Jersey-Emerald Property was Canada’s second largest tungsten producer. The mine was put into production and operated by the federal government in 1942-43 to serve war-time tungsten needs. After the war the mine was sold to Canadian Exploration Ltd. (later named Placer Dome Ltd.) and commercial mining for tungsten started in 1947. From 1953 to 1957 it was the largest tungsten producer in the western world, and it was Canada’s second largest tungsten mine when it closed due to low tungsten prices in 1973.
At the time of its closure the mine records showed that six un-mined tungsten targets remained in the vicinity of the historic mine workings. The targets occur as broad linear bands trending for more than 1,500 metres to the north and south of the mine workings. A seventh zone, the East Emerald Lower Tungsten Zone was identified by Sultan Minerals in 2006 (see News Releases of March 6, 2006 and June 5, 2006).
Previous mining records reported extensive molybdenum mineralization beneath the tungsten workings. In 2005, with increasing molybdenum prices, Sultan undertook an aggressive program to explore the molybdenum potential of the property. Exploration focused on the East Dodger area and to date Sultan has completed almost 3,000 metres of diamond drilling in 26 holes. This drilling successfully outlined a zone of stockwork molybdenum mineralization that has been traced over an area measuring 1,000 m by 125 m and over a vertical depth range of 150 m. The molybdenum mineralization remains open in all directions and to depth.
The present resource study will focus on the East Dodger Molybdenum Zone, and five tungsten deposits; the Invincible Tungsten Zone, the Feeney Tungsten Zone, the East Dodger Tungsten Zone, the Dodger 4400 Tungsten Zone, and the recently identified East Emerald Tungsten Zone. The evaluation will incorporate the results of drilling completed by Sultan in 2005 and 2006 with historic drill results obtained by the previous mine operators.
It is anticipated that the preliminary resource calculations will be completed by mid-September. The study is expected to provide recommendations for further work that will lead to the preparation of a feasibility study.
Arthur G. Troup, P.Eng., Geological, President and CEO
SEC: 12g3-2(b): 82-4741
No regulatory authority has approved or disapproved the information contained in this news release.
Contact:
Investor Relations Sultan Minerals Inc. (604) 687-4622 (604) 687-4212 (FAX) info@sultanminerals.com
www.sultanminerals.com
Source: Sultan Minerals Inc.
