TORONTO, ONTARIO--(Marketwire - May 24, 2011) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF) announces continued positive drill results from the ongoing 70,000 metre exploration program at its 100%-owned Shahuindo Gold and Silver Project in northern Peru. Significant gold and silver intercepts from 20 new drill hole results are highlighted below. Complete results are reported in Table 1.
Significant drill intercepts include:
- Hole RSH11-160 in the West Zone
- 1.60 g/t Gold and 45.1 g/t Silver over 33.0 meters, including 3.29 g/t Gold and 77.1 g/t Silver over 13.5 metres.
- Hole RSH11-155 in the Central Zone
- 0.78 g/t Gold and 20.1 g/t Silver over 45 meters.
New Mineralized Zone Discovery
Following a positive surface exploration program, two exploration drill holes have identified the possibility of an important new parallel gold/silver bearing mineral structure, named Sub-Corridor 'B'. The new structure is located approximately 400 metres north of the Central Corridor in the West Zone area (see Figure 1). Results from the new holes, RSH11-168 and RSH11-169, intersected mineralization with grades above the economic cut-off grade used by AMEC in Sulliden's Preliminary Assessment study. The mineralization outcrops on surface and extends to a current depth of approximately 50 metres. See table below for results from these new holes. No holes have ever been drilled in this area, and the Company will be following-up with field work and further drilling to test the size and strike length of this new parallel zone.
Peter Tagliamonte, President and CEO of Sulliden, commented, "We are very encouraged by our drilling success along the Central Corridor and the continued discovery of new mineralized zones based on our growing geological knowledge of the property. We feel this is a strong indication of the robustness of the Shahuindo Project and believe that further exploration efforts will continue to confirm its potential scale."
The 70,000 metre exploration program outlined for the Shahuindo Project in 2011 is well underway. In addition to the continued drilling along the Central Corridor and new sub-corridors, an exploration program targeting deeper mineralization is in progress and the Company also expects to initiate drilling on the North Corridor in the coming weeks.
Summary of Results
The collar locations of the 20 new holes are indicated in the following figure.
To view Figure 1 – Plan View of Mineral Deposit with New Drill Hole Locations, please visit the following link: https://media3.marketwire.com/docs/Plan_View_Figure.jpg
The vertical section in Figure 2 below highlights new drill holes in section 800W in the West Zone, where the Company has graphically demonstrated the interpretation of newly identified mineralization (in purple), and the existing grade shells as defined in the Preliminary Assessment from December 2009 (in red).
To view Figure 2 – West Zone, Section 800W, please visit the following link: https://media3.marketwire.com/docs/800W.jpg
*The new grade shells highlighted in the section above are geological interpretations that are preliminary in nature and should not be relied on.
The results from 20 new holes representing approximately 3,400 meters of drilling are presented in Table 1 below. 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).
Table 1 – Drill Results
| WEST ZONE |
| Drill hole # | From (metres) | To
(metres) | Interval (metres) | True Width
(metres) (1) | Gold
(g/t) | Silver
(g/t) |
|
| RSH11-156 (2) | 7.5 | 31.5 | 24.0 | 14.8 | 0.95 | 21.0 |
| RSH11-156 | 57.0 | 85.5 | 28.5 | 17.1 | 0.75 | 36.6 |
| including | 66.0 | 72.0 | 6.0 | 3.6 | 2.08 | 119.3 |
|
| RSH11-157 (3) | 13.5 | 16.5 | 3.0 | 1.9 | 3.88 | 46.8 |
| RSH11-157 | 22.5 | 52.5 | 30.0 | 19.0 | 0.62 | 9.0 |
| including | 25.5 | 39.0 | 13.5 | 8.6 | 1.00 | 9.7 |
|
| RSH11-158 | 114.0 | 126.0 | 12.0 | 6.1 | 0.61 | 22.3 |
| RSH11-158 | 136.5 | 171.0 | 34.5 | 17.4 | 1.13 | 60.0 |
| including | 147.0 | 162.0 | 15.0 | 7.6 | 1.61 | 71.4 |
|
| RSH11-159 (3) | 115.5 | 145.5 | 30.0 | 19.6 | 0.72 | 14.9 |
| RSH11-159 | 156.0 | 175.5 | 19.5 | 12.8 | 0.54 | 3.3 |
|
| RSH11-160 | 87.0 | 96.0 | 9.0 | 4.7 | 0.42 | 57.1 |
| RSH11-160 (3,4) | 124.5 | 157.5 | 33.0 | 17.3 | 1.60 | 45.1 |
| including (3,4) | 142.5 | 156.0 | 13.5 | 7.1 | 3.29 | 77.1 |
| RSH11-160 (5) | 163.5 | 198.0 | 34.5 | 18.1 | 0.90 | 14.0 |
| including | 169.5 | 178.5 | 9.0 | 4.7 | 1.85 | 21.2 |
|
| RSH11-161 (2) | 0.0 | 30.0 | 30.0 | 19.7 | 0.47 | 1.2 |
| RSH11-161 | 97.5 | 117.0 | 19.5 | 12.8 | 0.76 | 3.0 |
| including | 106.5 | 117.0 | 10.5 | 6.9 | 1.22 | 3.7 |
|
| RSH11-162 | 12.0 | 37.5 | 25.5 | 17.1 | 1.06 | 4.8 |
| including | 12.0 | 18.0 | 6.0 | 4.0 | 3.62 | 12.9 |
|
| RSH11-163 | 69.0 | 73.5 | 4.5 | 3.0 | 1.00 | 8.6 |
| RSH11-163 | 135.0 | 150.0 | 15.0 | 10.1 | 0.56 | 4.3 |
|
| RSH11-164 | 42.0 | 61.5 | 19.5 | 12.6 | 0.57 | 1.0 |
| RSH11-164 | 69.0 | 87.0 | 18.0 | 11.6 | 0.45 | 24.5 |
|
| RSH11-165 (3) | 49.5 | 73.5 | 24.0 | 16.4 | 1.10 | 5.6 |
| including (3) | 55.5 | 60.0 | 4.5 | 3.1 | 4.30 | 12.7 |
| RSH11-165 | 105.0 | 111.0 | 6.0 | 4.1 | 1.67 | 65.0 |
|
| RSH11-166 (3) | 79.5 | 84.0 | 4.5 | 2.9 | 2.82 | 8.1 |
| RSH11-166 (5) | 99.0 | 114.0 | 15.0 | 9.7 | 0.53 | 3.8 |
|
| RSH11-167 (2) | 0.0 | 15.0 | 15.0 | 9.5 | 0.48 | 0.8 |
| RSH11-167 (5) | 120.0 | 150.0 | 30.0 | 18.5 | 0.61 | 20.8 |
|
| CENTRAL ZONE |
| Drill hole # | From (metres) | To
(metres) | Interval (metres) | True Width
(metres) (1) | Gold
(g/t) | Silver
(g/t) |
|
| SH11-195 | 25.7 | 75.2 | 49.5 | 31.7 | 0.48 | 1.8 |
| SH11-195 | 186.2 | 205.2 | 19.0 | 11.8 | 0.54 | 11.2 |
| including | 187.7 | 193.2 | 5.5 | 3.4 | 1.22 | 16.0 |
|
| SH11-196 | 37.8 | 45.3 | 7.5 | 4.8 | 0.63 | 0.3 |
|
| SH11-197 | 16.8 | 49.9 | 33.1 | 21.1 | 0.44 | 3.5 |
|
| RSH11-154 | 10.5 | 39.0 | 28.5 | 18.6 | 0.72 | 5.5 |
| RSH11-154 | 55.5 | 84.0 | 28.5 | 18.2 | 0.86 | 23.1 |
| including | 55.5 | 61.5 | 6.0 | 3.9 | 1.81 | 44.3 |
|
| RSH11-155 | 42.0 | 87.0 | 45.0 | 28.9 | 0.78 | 20.1 |
| including | 42.0 | 49.5 | 7.5 | 4.8 | 1.47 | 22.0 |
| RSH11-155 (3) | 103.5 | 111.0 | 7.5 | 4.8 | 2.14 | 13.6 |
| RSH11-155 (5) | 177.0 | 181.5 | 4.5 | 2.9 | 0.58 | 7.0 |
|
| EAST ZONE |
| Drill hole # | From (metres) | To
(metres) | Interval (metres) | True Width
(metres) (1) | Gold
(g/t) | Silver
(g/t) |
|
| RSH11-153 (5) | 127.5 | 204.0 | 76.5 | 48.9 | 0.55 | 4.4 |
| including | 171.0 | 180.0 | 9.0 | 5.8 | 1.65 | 2.1 |
|
| SUB-CORRIDOR 'B' |
| Drill hole # | From (metres) | To
(metres) | Interval (metres) | True Width
(metres) (1) | Gold
(g/t) | Silver
(g/t) |
|
| RSH11-168 (2) | 0.0 | 12.0 | 12.0 | 7.7 | 0.36 | 3.4 |
| RSH11-168 | 27.0 | 33.0 | 6.0 | 3.9 | 0.58 | 4.5 |
| RSH11-168 | 54.0 | 70.5 | 16.5 | 10.7 | 0.35 | 3.0 |
|
| RSH11-169 | 52.5 | 63.0 | 10.5 | 7.2 | 0.39 | 2.2 |
| |
| (1) | Assuming perpendicular or near perpendicular to the plane defined by the drill hole. Geological understanding of the mineralized zones is continuing to develop as the project advances. |
| (2) | Mineralization found within 10 meters of beginning of hole. |
| (3) | One or more Gold assays capped at 7 g/t Gold. |
| (4) | One or more Silver assays capped at 300 g/t Silver. |
| (5) | Mineralization found within 10 meters of end of 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. Gold assays reported in this press release were obtained by standard 50 gram fire assaying with AA finish. Gold values over 10g/t Au were obtained by fire assay and gravimetric finish. Silver assays reported in the press release were obtained by Aqua-Regia dissolution followed by ICP-AES measurement. For silver values over 100g/t Ag, Aqua-Regia was followed by Atomic Absorption spectrometer reading. For silver values over 1000g/t Ag, a 30g fire assay was completed with a gravimetric finish