Sulliden Gold Corporation
TSX :
SUE
OTCQX : SDDDF
June 22, 2011 07:30 ET
Sulliden Announces Further Positive Drilling Results-Intersects 1.42 g/t Gold over 86 Metres and 1.75 g/t Gold over 58.5 Metres
TORONTO, ONTARIO--(Marketwire - June 22, 2011) -Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company")(TSX:SUE)(OTCQX:SDDDF) is pleased to announce continued positiveexploration results for six new drill holes from the ongoing 70,000metre drilling program being carried out this year on its 100%-ownedShahuindo Gold and Silver Project in northern Peru. Significant new goldand silver intercepts are highlighted below, and complete results arereported in Table 1.
Highlights include:
- Hole SH11-203 in the Central Zone
- 1.98 g/t Gold over 36.1 meters, including 4.17 g/t Gold over 3.0 metres
- Hole SH11-201 in the East Zone
- 1.42 g/t Gold over 86.0 meters, including 3.38 g/t Gold over 15.4 metres
- Hole SH11-202 in the East Zone
- 1.75 g/t Gold over 58.5 metres including 2.72 g/t Gold over 21.0 metres
- Hole SH11-201 in the East Zone
- 68.4 g/t Silver over 27.0 meters, including 233.1 g/t Silver over 7.1 metres
StephaneAmireault, Vice-President of Exploration for Sulliden, commented, "Wecontinue to see excellent exploration results at Shahuindo with somenotably higher grade intersections in the East and Central Zones. We areparticularly encouraged with holes SH11-201 and SH11-202, highlightedin Figure 2, which have delineated new mineral extensions to the East.Both of these holes ended in mineralization at a vertical depth of 202metres and 254 metres respectively. Hole SH11-198 in the Sub Corridor'A' also returned positive results and is successfully helping us definethis parallel mineral corridor."
On June 16, 2011, Sullidenissued an updated mineral resource estimate that more than doubled theIndicated gold ounces in the oxides and almost quadrupled the Inferredgold ounces relative to the 2009 year-end estimate. The Companycontinues to progress its 70,000 metre drilling program planned for theShahuindo Project in 2011, with 174 holes representing approximately31,900 metres drilled to date. Management expects to continue increasingthe estimated size and contained mineral ounces on the property withupcoming drill targets.
Summary of Results
The collar locations of the 6 new holes are indicated in Figure 1 below:
To view "Figure 1 – Plan View of Mineral Deposit with New Drill Hole Locations," please visit the following link: https://media3.marketwire.com/docs/SUE06221.jpg.
Thevertical section in Figure 2 below highlights two new drill holes insection 1050E in the East Zone, where the Company has graphicallydemonstrated the interpretation of newly identified mineralization(purple) in relation to the existing grade shells defined by MineDevelopments Associates in the updated mineral resource estimateannounced on June 16, 2011 (in red).
To view "Figure 2 – East Zone, Section 1050E," please vite the following link: https://media3.marketwire.com/docs/SUE06222.jpg.
*Theinterpretations of added mineralization highlighted in the sectionabove are geological interpretations that are preliminary in nature andshould not be relied on.
The results from six new holes representing approximately 1,420 meters of drilling are presented in Table 1 below:
Sulliden Added to Van Eck's Market Vectors®Junior Gold Miners ETF
Asat June 20, 2011, Sulliden has been added to Van Eck's Market Vectors®Junior Gold Miners exchange-traded fund ("ETF"), under the ticker symbolGDXJ. This fund focuses on small-cap companies in the exploratory orearly development phases.
Van Eck Global is an investmentmanagement firm based in New York City who offers global investmentchoices in hard assets, emerging markets, precious metals includinggold, and other specialized investment categories.
Quality Control and Assurance
StéphaneAmireault, P.Eng., Vice President Exploration for Sulliden is the"Qualified Person", as defined by National Instrument 43-101, who isresponsible for the management of the exploration program and disclosureof the drill results. Mr. Amireault has read and approved the technicaland scientific information in this news release.
The analyses forthis drilling campaign were carried out by ALS Chemex in Lima, Peru,exercising a thorough Quality Control and Assurance program (QA/QC). AllALS Chemex labs are ISO 9000 registered laboratories. Gold assaysreported in this press release were obtained by standard 50 gram fireassaying with AA finish. Gold values over 10g/t Au were obtained by fireassay and gravimetric finish. Silver assays reported in the pressrelease were obtained by Aqua-Regia dissolution followed by ICP-AESmeasurement. For silver values over 100g/t Ag, Aqua-Regia was followedby Atomic Absorption spectrometer reading. For silver values over1000g/t Ag, a 30g fire assay was completed with a gravimetric finish.
About Sulliden
Sullidenis a Canadian-based precious metals company focused on the explorationand development of the Shahuindo Gold and Silver Project, located in aprolific gold producing district in northern Peru. This projectneighbours million-ounce per year producing mines, including BarrickGold's Lagunas Norte Mine 30 kilometres to the south and the YanacochaMine operated by Newmont Mining Company 80 kilometres to the north. Apositive Preliminary Assessment for the Shahuindo Project was completedin February 2010 and a Feasibility Study is currently underway. Whilethe Company progresses towards its goal of becoming a gold producer, asignificant focus is being placed on exploration drilling to increasethe mineral resource, which remains open in all directions and at depth.Based on the drilling success in 2009/2010, Sulliden is undertakingapproximately 70,000 meters of drilling in 2011 to continue the mineralexpansion on the property. Sulliden is led by a strong management teamwith the proven ability to develop, finance and operate mining projectsand is poised to generate superior value for its shareholders.
On behalf of Sulliden Gold Corporation Ltd.:
For further information on Sulliden please visit the company website at www.sulliden.com.
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