SULTANS PROPERTY IS MOLY RICH
Sultan Minerals Inc
Symbol SUL
Shares Issued 49,987,909
Close 2005-10-12 C$ 0.185
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Sultan's Jersey-Emerald property is molybdenum-rich
2005-10-13 10:26 ET - News Release
Mr. Arthur Troup reports
SULTAN MINERALS EXPANDS MOLYBDENUM ZONE ON ITS JERSEY-EMERALD PROPERTY
Sultan Minerals Inc. has received final assays for holes four, five and six (JM05-04, JM05-05 and JM05-06) of its underground drilling program on its Jersey-Emerald molybdenum property, in the Salmo area of British Columbia. The three underground holes were step-out holes from hole two, which assayed 0.22 per cent MoS2 over its entire 192-foot length, and hole three, which averaged 0.11 per cent MoS2 over 495 feet. (please see Stockwatch news releases of Aug. 2 and Oct 3, 2005).
The results of these three drill holes are extremely encouraging. They confirm the results of the previous three holes and demonstrate that the molybdenum-rich body has bulk tonnage potential. The molybdenum-rich body has now been shown to extend 650 feet north-south, 400 feet east-west and to a depth of 300 feet, and remains open in all directions.
Assays for holes four, five and six, and previously reported holes one through three are tabled below.
Hole From To Width Mo MoS2
ft ft ft % %
JM05-06 2.00 115.00 113.00 0.050 0.08
Incl. 22.00 40.00 18.00 0.184 0.31
Incl. 22.00 26.00 4.00 0.617 1.03
JM05-05 0.00 438.00 438.00 0.028 0.05
Incl. 29.00 166.00 137.00 0.076 0.13
Incl. 80.00 146.50 66.50 0.108 0.18
Incl. 80.00 98.00 18.00 0.254 0.42
and 143.50 146.50 3.00 0.558 0.93
JM05-04 65.00 152.00 87.00 0.034 0.06
Incl. 65.00 103.50 38.50 0.055 0.09
Incl. 97.00 103.50 6.50 0.218 0.36
JM05-03 0.00 495.00 495.00 0.068 0.11
Incl. 0.00 275.50 275.50 0.103 0.17
Incl. 92.50 258.00 165.50 0.153 0.26
Incl. 200.00 215.00 15.00 0.777 1.30
Incl. 200.00 202.50 2.50 1.558 2.58
and 145.50 163.50 18.00 0.194 0.32
and 534.00 537.00 3.00 0.045 0.08
JM05-02 4.00 196.00 192.00 0.13 0.22
Incl. 48.00 64.20 16.20 0.28 0.47
Incl. 48.00 52.25 4.25 0.97 1.62
and 79.60 102.70 23.10 0.22 0.37
JM05-01 4.00 5.20 1.20 0.07 0.12
and 138.70 142.00 3.30 0.27 0.45
and 342.50 461.00 119.00 0.03 0.05
Incl. 445.65 454.75 9.10 0.16 0.27
Incl. 445.65 449.75 4.10 0.26 0.43
Note 1: All dimensions and core lengths
are recorded in feet in order
that results are compatible
with the historic mine grid and
the existing 4,600-drill-hole
database.
Note 2: MoS2 grades are calculated
from the Mo assays shown.
Hole four was drilled upward at plus five degrees along an azimuth of 067 degrees above hole three. The hole passed above the top of the favourable host granite and entered the overlying tungsten rich skarn unit. Hole four carried 0.06 per cent MoS2 over 87 feet, including 6.5 feet of 0.36 per cent MoS2. In the tungsten skarn formation the hole assayed 0.41 per cent WO3 (tungsten) over a 6-foot-core length, from 250 to 256 feet.
Hole five was drilled to the north of holes two and three along an azimuth of 045 degrees with a dip of minus 20 degrees. This hole assayed 0.05 per cent MoS2 over its entire 438-foot length, including a 137-foot intersection, from 29 to 166 feet, that averaged 0.13 per cent MoS2. The hole carried several high-grade intersections, including 0.42 per cent MoS2, over 18.0 feet, and 0.93 per cent MoS2, over three feet.
Hole six was drilled upward at plus five degrees along an azimuth of 045 degrees above hole five. The hole passed above the top of the favourable host granite and entered the overlying tungsten rich skarn unit. Hole six carried 0.08 per cent MoS2 over 113 feet, including 18 feet of 0.31 per cent MoS2, and four feet of 1.03 per cent MoS2.
Sultan is extremely pleased with the results of the six diamond drill holes received to date. Assays for holes seven through 12 are expected within the next 10 days and will be released as they are received.
Ed Lawrence, PEng, former manager of the Jersey and Emerald mines, is managing the underground exploration drill program. Perry Grunenberg, PGeo, of P and L Geological Services of Lac Le Jeune, B.C., is the company's project supervisor and qualified person for the purpose of National Instrument 43-101, standards of disclosure for mineral projects.