New drilling results...nice wide veinsSulliden Reports Continued Drilling Success at Shahuindo-Intersects1.29 g/t Au Over 47.7 Meters, Including 3.06 g/t Au over 15 Meters
TORONTO, ONTARIO, Nov 23, 2010 (MARKETWIRE via COMTEX) --Sulliden Gold Corporation Ltd. is pleased to announce further positive resultsfrom the current exploration program at the Shahuindo Gold Projectlocated in northern Peru. The results continue to indicate anexpanding mineral resource on the Shahuindo property. Sullidenexpects the recent drill results to positively affect the newNational Instrument 43-101 ("NI-43-101") mineral resource estimate,expected in early 2011.
Significant intercepts derived from both the Central and Moyan Altozones in this group of exploration results are highlighted below. Aneconomic cut-off grade of 0.17 g/t in gold oxides was established byAMEC in the NI 43-101 study (see news release of December 8, 2009).
-- 1.29 g/t Au over 47.7 meters including 3.06 g/t Au over 15 meters in
hole SH10-132 in the CENTRAL ZONE (See Figure 1)
-- 0.73 g/t Au over 100.5 meters including 1.17 g/t Au over 21 meters, and
1.22 g/t Au over 25.5 meters in hole RSH10-78 in the MOYAN ALTO ZONE
(See Figure 2)
Peter Tagliamonte, President and CEO of Sulliden commented, "Resultsfrom our current exploration program continue to show a widening ofthe oxide mineralization above the economic cut-off, increasing ourconfidence that the mineral resource at Shahuindo will be larger thanwhat is currently outlined. New areas of mineralized oxide ore arebeing encountered where waste was previously calculated, which webelieve will contribute positively to both an updated resourcestatement in the new year and a more robust mine plan. Drillingsuccesses have outlined expanded mineralization along the CentralCorridor, and we are now preparing our 2011 exploration program whichwill expand exploration activities to other new promising targets onthe Shahuindo property."Stephane Amireault, Vice-President of Exploration for Sulliden,commented, "We have obtained some very encouraging initial resultsfrom holes SH10-130, SH10-134 and SH10-135 in the south western partof the Central Zone which was previously undrilled. These resultsadd continuity and strike length to this portion of the mineraldeposit and we look forward to following-up on this area withupcoming drilling."
Sulliden initiated a 30,000 meter resource expansion drilling programin August 2010, following the award of a project-wide explorationpermit (See news release of July 20, 2010). To date, over 110 holestotalling over 24,000 meters of this program have been drilled in theCentral Corridor and exploration activities continue on track withfive drills currently operating on the site.
Summary of Recent Results
Results from 16 new drill holes in the tables below represent anadditional 3,250 meters of the ongoing 30,000 meter explorationprogram. The selected sections 250E (Figure 1) and 1850E (Figure 2)graphically demonstrate the expanding mineral resource in purple fromthe existing red grade shells in the Central and Moyan Alto zones.
To view Figure 1 - Central Zone, Section 250E, please visit thefollowing link: https://media3.marketwire.com/docs/SUE250E.jpg.
To view Figure 2 - Moyan Alto Zone, Section 1850E, please visit thefollowing link: https://media3.marketwire.com/docs/SUEB1850E.JPG.
To view Figure 3 - Plan View of Mineral Deposit with New CollarLocations, please visit the following link:https://media3.marketwire.com/docs/654705FIG3.jpg.
Table 1 - Drill Results
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WEST ZONE
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From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
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RSH10-74 133.5 138.0 4.5 2.9 0.70 4.7
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RSH10-74 157.5 171.0 13.5 8.7 0.28 4.5
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RSH10-73 195.0 201.0 6.0 3.9 0.47 3.7
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RSH10-72 No significant mineralized intersection
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CENTRAL ZONE
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From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
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SH10-134 6.3 57.3 51.0 36.2 0.45 4.1
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SH10-135 17.3 66.8 49.5 32.1 0.47 2.1
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SH10-130 12.7 40.1 27.4 17.6 0.27 0.6
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SH10-130 65.9 93.7 27.8 17.9 0.81 11.5
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SH10-139 18.3 24.5 6.2 4.0 0.36 1.2
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SH10-139 33.4 123.4 90.0 56.8 0.79 4.8
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including 77.0 97.4 20.4 12.8 1.10 8.0
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including 106.9 122.6 15.7 9.8 1.63 7.1
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SH10-139 138.4 142.3 3.9 2.4 0.64 7.1
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SH10-139 150.2 153.4 3.2 2.0 1.27 13.1
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SH10-139 169.5 176.1 6.6 4.1 1.31 60.8
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SH10-139 18.3 24.5 6.2 4.0 0.36 1.2
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SH10-132 0.0 47.7 47.7 33.2 1.29 8.6
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including 30.0 45.0 15.0 10.4 3.06 20.7
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SH10-132 72.0 125.5 53.5 35.9 0.53 48.9
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SH10-132 157.6 223.6 66.0 43.5 0.51 8.5
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including 160.6 187.4 26.8 17.7 0.81 7.4
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including 201.7 206.8 5.1 3.3 0.70 11.0
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SH10-132(2) 244.6 248.0 3.4 2.2 0.56 8.6
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SH10-136 52.3 81.0 28.7 20.1 0.83 2.7
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including 52.3 61.8 9.5 6.7 1.85 4.2
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SH10-136 121.5 161.5 40.0 27.4 0.27 1.8
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SH10-136 187.5 221.0 33.5 22.4 0.32 7.5
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SH10-136 241.1 256.2 15.1 10.1 2.05 248.6
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SH10-136 291.0 378.0 87.0 58.2 0.31 4.4
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EAST ZONE
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From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
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RSH10-68 (2) 111.0 210.0 99.0 63.6 0.56 11.0
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including 111.0 150.0 39.0 25.1 0.87 15.1
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MOYAN ALTO ZONE
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From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
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RSH10-69 (2) 66.0 150.0 84.0 48.2 0.79 10.3
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including 73.5 105.0 31.5 18.1 1.20 3.7
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RSH10-70 0.0 6.0 6.0 3.4 0.35 0.5
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RSH10-70 96.0 225.0 129.0 74.0 0.54 5.8
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including 156.0 195.0 39.0 22.4 0.79 7.4
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RSH10-71 34.5 55.5 21.0 13.5 0.38 2.1
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RSH10-71 67.5 72.0 4.5 2.9 0.31 0.9
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RSH10-78 30.0 130.5 100.5 64.6 0.73 2.4
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including 40.5 61.5 21.0 13.5 1.17 1.7
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including 99.0 124.5 25.5 16.4 1.22 3.6
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RSH10-78 141.0 166.5 25.5 16.4 0.33 1.7
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RSH10-77 22.5 108.0 85.5 55.0 0.47 4.3
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including 57.0 84.0 27.0 17.4 0.74 5.5
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RSH10-77 120.0 141.0 21.0 13.5 0.54 2.2
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including 124.5 133.5 9.0 5.8 0.95 3.9
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RSH10-75 151.5 154.5 3.0 1.9 0.85 2.8
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1) Assuming vertical or near-vertical zone, perpendicular or near-
perpendicular to the plane defined by the drill hole
2) Mineralization found within 10 meters of EOH