Santa Fe Metals Corp. (TSX VENTURE:SFM) ("SFM" or the "Company") announces that
a detailed Ranking Study of numerous target areas is well underway for the
680-km2 Iron Range Project, located 70-km south west of the Sullivan Mine at
Kimberley, British Columbia. Because of its size and recognized potential for
iron and other metals, Iron Range has had significant, but often-sporadic
exploration campaigns since discovery in the 1890's.


Modern exploration including geological mapping, airborne geophysics, extensive
geochemical surveys and diamond drilling has confirmed the property's great
potential for base and precious metals. The Ranking Study is the first
comprehensive and project-wide effort to compile and assess all past work and
will ultimately lead to the definition of new drill targets in this prolific
metal mining region.


Iron Range hosts the same stratigraphic rock assemblage as the historic Sullivan
Mine, one of the largest sedimentary exhalative (SEDEX) silver-lead-zinc
deposits in the world and it also encompasses 57-km of the regional-scale Iron
Range fault complex. As a result, the property is very prospective for other
base and precious metal deposit types. TerraLogic Exploration Inc. of Cranbrook,
BC is completing the Ranking Study that has initially defined three prime areas
for more detailed study. These high-priority areas have large-scale potential
for metals because of their observed geological setting and now compiled
exploration results, and include:


CAR Area

The CAR Area is a Sullivan-style SEDEX target with excellent access, located
7.5-km south of HWY 3. Importantly, a well-defined zone of Sullivan-style
mineralized fragmentals within middle Aldridge Formation rocks are coincident
with classic SEDEX alteration and anomalous lead and zinc mineralization.
Exploration drilling in the CAR area provides stratigraphic information but
newly identified mineralized trends have no drilling. Importantly, the Lower
Middle Aldridge Formation Contact (LMC), which is also a target horizon and
estimated to be at depths of 500-m in the southern part of the CAR Area, has
never been tested south of HWY 3.


Canyon Area

The Canyon Area, located 2.5-km north of HWY 3, is a high-priority target for
Sullivan-style SEDEX in addition to structurally-controlled base and precious
metal mineralization. This area has had drill testing of large geochemical
anomalies and has intersected Sullivan-style alteration coincident with LMC,
both near and at distance to the Iron Range Fault. Important drill results have
been recorded at the Talon Zone in 2010, including IR10-010, which intersected
14.0m grading 5.1 g/t gold, 1.86% lead, 2.1% zinc and 75.3 g/t silver. Hurried
follow up drilling was conducted by others without geological interpretation,
highlighting the need and opportunity for more thoughtful assessment of this
area.


Golden Cap Area

The Golden Cap Area is an IOCG (Iron Oxide Copper Gold) exploration target
located 13-km north of HWY 3, with good access. The area is characterized by the
abundance of iron oxide mineralization and is coincident with a major offset of
the Iron Range Fault. Intersecting large-scale structures create opportunities
for structurally-controlled mineralization and the area has an extensive zone of
hydrothermal brecciation and associated alteration. While exploring for
iron-rich mineralization at the O-Ray zone in 2008, diamond drill hole IR08-006
intersected bonanza gold grades near surface, returning 51.52 g/t gold over
7.0-m. The Golden Cap area will be advanced by more systematic exploration to
assess target deposit styles, controls on mineralization and to define drill
targets.


Iron Range Summary

While notable exploration results at Iron Range indicate the potential to host
large-scale SEDEX-style, IOCG and structurally-controlled base and precious
metal mineralization, each of the priority areas defined by the Ranking Study
requires greater geological interpretation to be properly advanced. Much of the
exploration data is now in digital form and contained within a GIS database. The
property has been expertly assembled into a contiguous package with many
potential targets. More detailed geological mapping and ground proofing to be
completed in 2014 will advance the three priority areas to the drill ready
stage. Management believes this work will produce compelling new geological
models and exciting drill targets.


A complete description of previous exploration results for Iron Range can be
viewed at: http://www.eagleplains.com/projects/bc/ironrange/


Update on Sully Project

SFM plans to re-commence drilling shortly at its Sully Project located near Fort
Steele and 30 km east of the Sullivan Mine at Kimberley, BC. Sully hosts twin,
large-scale, parallel geophysical targets that do not outcrop on surface. The
'blind' targets are well defined by detailed gravity surveys completed over much
of the property and recent drilling is estimated to have come within 100-m of
the East Target. Both targets are made compelling by coincident parallel
magnetic anomalies, and the East Target is now known to coincide with equivalent
Sullivan Time stratigraphy.


Management is excited about the Iron Range project's potential to host
Sullivan-type massive sulphides, IOCG mineralization and bonanza-grade gold, and
is committed to advancing exploration at both the Iron Range and Sully. Scott
Broughton, President and CEO commented; "The Iron Range project demonstrably
expands on the discovery potential for SFM in this prolific base and precious
metal region of British Columbia."


Technical contents of the Iron Range Project disclosure in this news release
have been reviewed and approved by Charles Downie, P.Geo., a qualified person as
defined by National Instrument 43-101.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.


Scott E. Broughton, P.Eng., President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Fe Metals Corp.
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Santa Fe Metals Corporation Charts.
Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Santa Fe Metals Corporation Charts.