TORONTO, ONTARIO--(Marketwire - March 14, 2011) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF) is pleased to announce new drilling results from its 100%-owned Shahuindo Gold and Silver Project in northern Peru. The results continue to demonstrate the growth and continuity of the mineral system along the currently defined 3.8 kilometre strike length of the deposit, which remains open in all directions and at depth.
Significant gold and silver intercepts from this group of exploration results are highlighted below. Complete results are reported in Table 1. An economic cut-off grade of 0.17 g/t in gold oxides was established by AMEC in the NI 43-101 Preliminary Assessment (see December 8, 2009 news release).
Significant Gold drill intercepts:
- Hole SH10-153 in the West Zone
- Hole SH10-154 in the Central Zone
- 0.87 g/t Gold over 123.5 metres including 2.06 g/t Gold over 26.6 metres
- 2.23 g/t Gold over 24.7 metres including 6.80 g/t Gold over 6.4 metres
Significant Silver drill intercepts:
- Hole SH10-153 in the West Zone
- Hole SH10-167 in the West Zone
- Hole SH10-172 in the Central Zone
- 55.1 g/t Silver over 36.0 metres including 158.3 g/t Silver over 9.2 metres
The 70,000 metre exploration program planned for 2011 is underway. Sulliden currently has six drills operating on the Shahuindo property. Drilling is ongoing along the Central Corridor to continue defining the shape and extent of the mineralization, and the Company is also focusing on the other targets outlined in the 2011 exploration program released on December 7th, 2010. These targets include the North-West and South-East extensions, which represent a 60% increase to the known Central Corridor strike length, drilling at depth to test the sulphide mineralization, as well as drilling in the North and South Corridors.
Stephane Amireault, Vice President of Exploration for Sulliden, commented, "We are very pleased with the ongoing success of our drilling program. The new results continue to broaden the ore body beyond the current mineralized envelope along the length of the Central Corridor and we are gaining a better understanding of the structural context of the deposit. This improved geological understanding will likely help us identify future drilling targets in the Central Corridor."
Summary of Results
The new results from 21 holes representing approximately 4,850 meters of drilling are presented below in Table 1. The locations of the new holes in the East, Central and West zones are shown in Figure 1. Figure 2 highlights results from new drill holes in section 750E of the Central Zone and graphically demonstrates the interpretation of newly identified mineralization (in purple) being added to the mineral envelopes as defined in the Preliminary Assessment (in red).
To view Figure 1 - Plan View of Mineral Deposit with New Collar Locations, please visit the following link: https://media3.marketwire.com/docs/Plan%20View%20Figure.jpg
To view Figure 2 - Central Zone, Section 750E, please visit the following link: https://media3.marketwire.com/docs/Section%20-%20Central%20Zone.jpg
*The new grade shells highlighted in Figure 2 are geological interpretations that are preliminary in nature and should not be relied on.
Table 1 – Drill Results
- Assuming vertical or near vertical zone, perpendicular or near perpendicular to the plane defined by the drill hole. Geological understanding of the mineralized zones are continuing to develop as the project advances.
- One or more Au values cut to 7 g/t Au
- One or more Ag values cut to 300 g/t Ag
- Mineralization in overburden
- Mineralization found within 10 meters of end of hole
- PQ twin hole (a "twin" hole is defined by being collared within 3 meters and at the same dip and inclination as its adjacent hole)
QUALITY CONTROL AND ASSURANCE
Stéphane Amireault, P.Eng., Vice President Exploration for Sulliden is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. Mr. Amireault has read and approved the technical and scientific information in this news release.
The analyses for this drilling campaign were carried out by ALS Chemex in Lima, Peru exercising a thorough Quality Control and Assurance program (QA/QC). All ALS Chemex labs are ISO 9000 registered laboratories. All gold assays reported in the press release were obtained by standard 50g fire assaying with AA finish. All silver assays reported in the press release were obtained by Aqua-Regia dissolution followed by ICP-AES measurement.