Toronto, Ontario, Canada, October 26, 2010 Sulliden Gold Corporation Ltd. (“Sulliden”, the “Company”) (TSX: SUE) (OTCQX: SDDDF) is pleased to announce further positive results from the current exploration program at the Shahuindo Gold Project located in northern Peru. Results continue to indicate mineral growth that extends beyond the current mineralized envelopes laterally and at depth. Sulliden expects the recent drill results to positively affect the new National Instrument 43-101 (“NI-43-101) mineral resource estimate, expected in early 2011.
Significant intercept derived from both the East and West zones in this group of exploration results are highlighted below. An economic cut-off grade of 0.17 g/t in gold oxides was established by AMEC in the NI 43-101 study (see news release of December 8, 2009).
- 0.78 g/t Au over 106.5 meters including 1.62 g/t Au over 18 meters in hole RSH10-57 in the EAST ZONE (See Figure 1)
- 0.47 g/t Au over 100.5 meters including 1.03 g/t Au over 25.5 meters, and 1.49 g/t Au over 72.0 meters in hole RSH10-66 in the WEST ZONE (See Figure 2)
Peter Tagliamonte, President and CEO of Sulliden commented, "Today’s results continue to increase our confidence in the excellent upside potential of the Shahuindo Gold Project. These positive exploration results continue to expand the mineralization inside and outside of the defined pit and will likely expand the future pit design and increase the mineable ounces. As we progress with our exploration program we will continue to define the limits of the mineralization along the Central Corridor, and begin to include other new promising targets in our exploration efforts.”
Sulliden initiated a 30,000 meter resource expansion drilling program in August 2010, following the award of a project-wide exploration permit (See news release of July 20, 2010). To date, 86 holes totalling 17,000 meters of this program have been drilled in the Central Corridor and exploration activities continue on track with five drills currently operating on the site.