Sulliden Gold drills 88.1 m of 2.12 g/t Au at ShahTicker Symbol: C:SUE
Sulliden Gold drills 88.1 m of 2.12 g/t Au at Shahuindo
Sulliden Gold Corp Ltd (C:SUE)
Shares Issued 176,394,902
Last Close 12/13/2010 $2.40
Tuesday December 14 2010 - News Release
Mr. Stan Bharti reports
SULLIDEN CONTINUES EXPLORATION SUCCESS, FURTHER EXPANDS THE SHAHUINDO GOLD PROJECT
Sulliden Gold Corporation Ltd. has released additional positive results from 22 new drill intersections conducted along the Central Corridor of the Shahuindo Gold Project located in northern Peru. These results continue to indicate strong mineral resource growth potential along its currently defined 3.8 kilometer strike length and the deposit still remains open along strike, laterally and at depth. Calculation of a new National Instrument 43-101 ("NI 43-101") resource estimate is currently underway, and is expected for completion in Q1, 2011.
Significant intercepts from 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).
-- 2.12 g/t Gold over 88.1 metres in hole SHM10-121 in the Central Zone (This larger PQ size hole was drilled for metallurgical purposes) -- 0.94 g/t Gold over 119.1 metres including 1.23 g/t Gold over 78.8 metres in hole SH10-143 in the Central Zone -- 0.54 g/t Gold over 115.5 metres including 1.01 g/t Gold over 24 meters in hole RSH10-92 in the Central Zone (See Figure 1) -- 1.24 g/t Gold over 48.0 metres including 3.02 g/t Gold over 7.5 metres, and 0.72 g/t Gold over 55.5 metres including 1.05 g/t Gold over 24.0 m in hole RSH10-86 in the Moyan Alto Zone (See Figure 2)
Stephane Amireault, Vice-President of Exploration for Sulliden, commented, "The results from this exploration program have been very encouraging. Drilling on Shahuindo continues to define new mineral continuity that has expanded both the width and length of the Central Corridor. We are looking forward to commencing our 2011 exploration program, which will include several new target areas that could represent significant new mineral growth at Shahuindo."
A 30,000 meter exploration program was initiated in August 2010, following the award of a project-wide exploration permit (See news release dated July 20, 2010). Sulliden has completed over 30,000 meters of drilling on Shahuindo since the program was initiated and intends to continue drilling activity on the site for an additional week. The Company is also beginning to prepare for its 2011 exploration program, announced on December 7, 2010, including approximately 70,000 metres of drilling that will nearly double the number of metres drilled on Shahuindo since its discovery in 1992. The new program will continue targeting the Central Corridor to further expand the current mineralized envelopes, but will also include new target areas that are designed to identify new potential mineral resources on Shahuindo.
Summary of Recent Results
Results from 22 new drill holes in the tables below represent approximately 5,300 metres of the 30,000 metre exploration program initiated last August. The selected sections 700E (Figure 1) and 1350E (Figure 2) graphically demonstrate the newly identified mineralization in purple being added to the existing red mineral envelopes in the Central and Moyan Alto zones.
(i)The new grade shells highlighted in the sections above are geological interpretations that are preliminary in nature.
Table 1 - Drill Results
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CENTRAL ZONE
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From To Interval True Width Gold Silver
Drill hole # (metres) (metres) (metres) (metres)(1) (g/t) (g/t)
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SH10-138 0.0 45.7 45.7 26.2 0.72 1.7
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including 0.0 15.7 15.7 9.0 1.67 3.1
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SH10-138 134.2 151.4 17.2 9.9 0.24 2.8
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SH10-138 161.2 174.7 13.5 7.7 0.99 34.6
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SH10-140 94.5 113.8 19.3 12.4 0.27 0.3
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SH10-140 130.3 145.5 15.2 9.8 0.52 6.5
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SH10-140 163.7 180.2 16.5 10.6 0.25 6.1
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SH10-140 (2) 268.5 273.0 4.5 2.9 1.07 12.6
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SH10-141 37.2 141.8 104.6 60.0 0.60 9.2
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including 92.8 141.8 49.0 28.1 0.85 14.1
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SH10-142 (3) 0.0 46.5 46.5 32.9 0.53 10.0
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including(3) 27.4 46.5 19.1 13.5 0.99 18.6
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SH10-142 46.5 87.0 40.5 28.6 0.54 4.7
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including 46.5 55.5 9.0 6.4 1.70 15.2
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SH10-143 1.5 21.0 19.5 12.5 0.57 2.1
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SH10-143 39.0 158.1 119.1 76.6 0.94 42.0
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including 64.5 143.3 78.8 50.7 1.23 58.1
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RSH10-90 85.5 195.0 109.5 70.4 0.50 7.7
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including 99.0 138.0 39.0 25.1 0.78 9.6
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including 99.0 115.5 16.5 10.6 1.38 2.8
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RSH10-91 55.5 108.0 52.5 33.7 0.43 3.9
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including 60.0 76.5 16.5 10.6 0.61 9.2
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including 99.0 108.0 9.0 5.8 0.75 0.7
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RSH10-92 (2)(4) 52.5 168.0 115.5 74.2 0.54 2.3
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including 75.0 99.0 24.0 15.4 1.01 3.2
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including 118.5 130.5 12.0 7.7 0.89 4.3
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SHM10-121
(2)(4)(5)(6) 51.9 140.0 88.1 62.3 2.12 7.3
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SHM10-124(5) 47.2 150.2 103.0 59.1 0.34 4.1
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EAST ZONE
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From To Interval True Width Gold Silver
Drill hole # (metres) (metres) (metres) (metres)(1) (g/t) (g/t)
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RSH10-80 0.0 25.5 25.5 14.6 0.26 1.7
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RSH10-80 40.5 165.0 124.5 71.4 0.31 6.4
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RSH10-84 147.0 154.5 7.5 4.8 0.70 17.4
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RSH10-84(2) 184.5 300.0 115.5 74.2 0.71 19.3
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including 232.5 259.5 27.0 17.4 1.60 57.7
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MOYAN ALTO ZONE
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From To Interval True Width Gold Silver
Drill hole # (metres) (metres) (metres) (metres)(1) (g/t) (g/t)
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RSH10-76 130.5 174.0 43.5 28.0 0.52 6.0
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including 156.0 169.5 13.5 8.7 0.81 13.9
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RSH10-76 201.0 235.5 34.5 22.2 0.37 3.1
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including 201.0 213.0 12.0 7.7 0.61 6.1
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RSH10-79 58.5 136.5 78.0 50.1 0.51 13.1
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including 72.0 97.5 25.5 16.4 0.89 25.2
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RSH10-79 145.5 159.0 13.5 8.7 0.38 3.5
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RSH10-81(2) 111.0 190.5 79.5 51.1 0.31 2.8
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RSH10-82(2) 157.5 300.0 142.5 91.6 0.57 15.7
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including 157.5 163.5 6.0 3.9 1.53 6.7
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including 205.5 223.5 18.0 11.6 1.70 17.4
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RSH10-83 111.0 199.5 88.5 56.9 0.45 13.6
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including 124.5 135.0 10.5 6.7 0.90 13.7
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including 159.0 171.0 12.0 7.7 0.71 8.2
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including 181.5 195.0 13.5 8.7 0.64 7.4
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RSH10-83 226.5 231.0 4.5 2.9 0.72 1.2
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RSH10-85 97.5 106.5 9.0 5.2 0.54 4.5
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RSH10-85 148.5 219.0 70.5 40.4 0.54 5.3
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including 157.5 180.0 22.5 12.9 1.15 6.2
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RSH10-86 21.0 76.5 55.5 35.7 0.72 3.3
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including 36.0 60.0 24.0 15.4 1.05 1.4
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RSH10-86 100.5 148.5 48.0 30.9 1.24 11.0
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including 139.5 147.0 7.5 4.8 3.02 18.8
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RSH10-86 228.0 237.0 9.0 5.8 0.20 2.4
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RSH10-86(2) 244.5 261.0 16.5 10.6 0.34 11.5
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RSH10-87 51.0 66.0 15.0 9.6 0.50 0.6
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RSH10-88(2) 175.5 286.5 111.0 71.3 0.44 5.9
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including 192.0 211.5 19.5 12.5 0.63 17.1
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RSH10-89(2) 144.0 292.5 148.5 95.5 0.41 3.0
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including 175.5 235.5 60.0 38.6 0.56 3.0
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including 213.0 228.0 15.0 9.6 0.84 1.7
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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 metres of the end of hole
(3) Mineralization in overburden
(4) Stopped due to technical difficulties
(5) Twin hole, metallurgical results from composite samples
(6) One composite value of 32 g/t Gold in hole SHM10-121 was cut to 7
g/t Gold as per the high cut-off grade established by AMEC in the
Preliminary Assessment from December 2009.
Stephane 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.
We seek Safe Harbor.