Santa Fe Metals-Sully SU14-08 Passes 225m on Planned Trajectory
12 May 2014 - 10:30PM
Marketwired
Santa Fe Metals-Sully SU14-08 Passes 225m on Planned Trajectory
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2014) -
Santa Fe Metals Corporation (TSX-VENTURE:SFM) ("SFM" or the
"Company") announces that drill hole SU14-08 has recently passed a
hole depth of 225-m at the Sully Project, and is currently coring
Lower Aldridge formation host rocks on a planned trajectory to test
the large-scale East gravity mass at approximately 900-m below
surface, see figure attached.
2014 Drilling Summary
The previous drill hole completed on May 6, 2014 (DDH SU14-07)
revealed that Aldridge Formation unit A1c is the likely host to the
East Target - this correlates with the stratigraphy that hosts the
Sullivan orebody, 30-kms to the west of Sully. A marked thickening
of A1c in SU14-07 implies proximity to an accumulation centre of an
inferred sub-basin assemblage. Within this thickening is a 50-m
interval containing traces of lead, zinc and copper sulphides and
unusual thin silica beds thought to be derived from hydrothermal
solutions associated with formation of a mineral deposit. Updates
and comparisons on drilling observations in the current hole
(SU14-08) will be provided as drilling progresses.
The Sully Project
Sully is located near Fort Steele, 30-kms east of the
world-famous Sullivan mine at Kimberley, B.C. The East Target is
one of two large-scale gravity mass anomalies estimated to come
within 800-m of surface and extending to depth. Recent drilling has
successfully confirmed Lower Aldridge formation host rocks, and
importantly, a projection for Sullivan time that is coincident with
the East gravity mass. Coincident magnetic anomalies reinforce the
positioning of the East and West gravity masses also estimated to
be approximately 800-m apart. Management believes the best
explanation for the twin gravity anomalies is the presence of two
very large and vertically oriented SEDEX massive sulphide bodies.
While the initial phase of exploration in 2014 is focused on the
East target, work is planned to expand to the West Target in the
near future.
The Sullivan Mine
Sullivan was discovered in 1892 and is one of the largest SEDEX
deposits in the world. Over its roughly 100-year lifetime, Sullivan
produced almost 300 million ounces of silver, 36 billion pounds of
lead and zinc plus smaller amounts of other metals, collectively
worth over $40 billion at current metal prices. The company
cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the
Sully property.
Technical contents of the Sully Project disclosure in this
news release have been reviewed and approved by Paul Ransom,
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 policies the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Scott E. Broughton, P.Eng., President and CEO
To view the figure associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/945099.pdf.
Santa Fe Metals CorporationScott E. Broughton, P.Eng.President
and CEO604.684.2900www.santafemetals.com
Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Santa Fe Metals Corporation (TSXV:SFM)
Historical Stock Chart
From Sep 2023 to Sep 2024