NEWSThis is good news. Clearlyhhe Moly is the only thing anyone cares about so focusing on it is the way to go.
Mr. Arthur Troup reports
SULTAN MINERALS DEFINES ITS CORPORATE PRIORITIES
Sultan Minerals Inc. has given notice to the optionors of its Peruvian properties that it is withdrawing from its option agreement on the Coripampa 1 and Coripampa 2 properties in Peru effective Feb. 13, 2006. Sultan believes that its shareholders' interests will be much better served by focusing its exploration efforts and resources on its Canadian properties, in particular, its Jersey-Emerald molybdenum property in British Columbia.
The Coripampa project presented an excellent opportunity to explore two new epithermal gold and silver discoveries in the southern Peruvian silver belt. Work completed by Sultan has confirmed the existence of several silver- and gold-bearing structures on the two properties. Geochemically significant values of gold and silver mineralization are widespread on both properties but economic metal concentrations appear to be erratic and confined to narrow veins.
In making the decision to terminate the Coripampa project, Sultan also considered project, political and country risks associated with mining and mining exploration in Peru, illustrated in recent years by a number of high-profile instances of civil unrest and vandalism directed at mining projects.
Sultan is presently expanding its exploration activities at its Jersey-Emerald molybdenum property in British Columbia where recent drilling in the East Dodger zone has intersected a molybdenum-bearing zone that measures 3,200 feet north-south by 400 feet east-west and remains open in all directions. Preliminary metallurgical testing is now under way and an initial resource study is planned for bulk sampling purposes by late March, 2006. Assays are pending for four additional underground drill holes (holes JM05-17 through -20) completed in the East Dodger area. These results are expected within the next week and will be released when they are received