Comparables 2Due south of Seafield.
SUNWARD INTERSECTS SOUTH AND EAST EXTENSIONS OF MINERALIZATION AT CERRO VETAS
458.0m @ 0.46 g/t gold, 0.11% copper intersection in Cerro Vetasextension
217.5m @ 0.50 g/t gold, 0.29% copper opens out mineralized zone to theeast
TSX-V: SWD
VANCOUVER, June 15, 2011 /CNW/ - Sunward Resources (TSX-V: SWD)("Sunward") (the "Company") is pleased to announce that Sunward'son-going drill program at the Cerro Vetas zone of the Titiribi projecthas significantly expanded the extent of mineralization. In addition,recent drilling has identified a higher-grade copper zone on thesoutheast portion of the Cerro Vetas zone.
The mineralization observed in CV037 remains open to the east of theCerro Vetas zone, where Sunward geological staff have recentlyrecognized a possible extension of the Cerro Vetas diorite porphyrythrough re-logging of drill core. This is significant in light ofrecent results from other drillholes on the east and southeast portionsof the Cerro Vetas mineralized body—particularly drillhole CV036, whichwas collared near the southeastern edge of mapped porphyry outcrop atCerro Vetas, and intersected some of the highest copper grades observedto date on the Titiribi project. CV036 returned weighted average assayresults of 0.50 g/t gold and 0.29% copper over 217.5 metres, from 84.5to 302 metres down-hole depth. A higher-grade zone of mineralizationwith assay values of 0.78 g/t gold and 0.60% copper occurs from 118.75to 160 metres down-hole depth. This includes intervals averaging 1.19%copper (along with 1.32 g/t gold) from 140 to 146.5 metres down-holedepth and 1.00% copper (along with 1.06 g/t gold) from 118.75 to 123.5metres down-hole depth.
About the Titiribi Project:
The Cerro Vetas mineralized body at Sunward Resources' Titiribi projecthosts an inferred resource of 230 million tonnes at an average grade of0.5 grams per tonne gold and 0.2 percent copper using a0.3-gram-per-tonne-gold cut-off (NI 43-101 technical report dated May19, 2010). The project is located approximately 70 kilometres southwestof the city of Medellin, Colombia, in Antioquia department, within thehistorical Titiribi mining district (estimated total gold production ofthree to five million ounces). Access is by paved highway fromMedellin.
Mineralization at Titiribi is hosted within a number of porphyry stocksand porphyritic dikes and sills. The dominant mineral associated withmineralization is chalcopyrite, which occurs as disseminations and inveinlets. Plagioclase and secondary biotite are also significant withinthe mineralized assemblage. Mineralization appears to be related toextensive potassic alteration, with propylitic and argillic alterationalso widespread, along with lesser phyllic alteration.
Over 50,000 metres of drilling has been completed at Titiribi to-date,including approximately 14,600 metres completed historically byprevious operators, including Gold Fields and Windy Knob Resources,along with more than 36,000 metres completed by Sunward Resources. Themineralized body at Cerro Vetas remains open in a number of directionsand at depth. Sunward Resources currently has four drill rigs operatingto expand the known mineralization at the Titiribi project.
About The Company:
Sunward Resources is a well-capitalized, Canadian-based company focusedon the exploration of gold/copper porphyry projects in Colombia. TheCompany has strong operational expertise in Colombia and is currentlydrilling its Titiribi Project southwest of Medellin with a goal ofincreasing the NI 43-101 inferred resource.
This news release contains "forward-looking information", which mayinclude, but is not limited to, statements with respect to the futurefinancial or operating performance of Sunward Resources Ltd. and itsprojects. Often, but not always, forward-looking statements can beidentified by the use of words such as "plans", "expects", "isexpected", "budget", "scheduled", "estimates", "forecasts", "intends","anticipates", or "believes" or variations (including negativevariations) of such words and phrases, or state that certain actions,events or results "may", "could", "would", "might" or "will" be taken,occur or be achieved. Forward-looking statements involve known andunknown risks, uncertainties and other factors which may cause theactual results, performance or achievements of Sunward Resources Ltd.to be materially different from any future results, performance orachievements expressed or implied by the forward-looking statements.Forward-looking statements contained herein are made as of the date ofthis press release and Sunward Resources Ltd. disclaims, other than asrequired by law, any obligation to update any forward-lookingstatements whether as a result of new information, results, futureevents, circumstances, or if management's estimates or opinions shouldchange, or otherwise. There can be no assurance that forward-lookingstatements will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchstatements. Accordingly, the reader is cautioned not to place unduereliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.