Business & Finance
Business and Finance
Business and Finance
Thu, January 20, 2011 Sunset Cove Initial Drilling Hits Mineralization Close to Surface
MONTREAL, Jan. 20 /CNW Telbec/ - (TSX-V: SSM): Mr. Lorne Woods, President of Sunset Cove Mining is pleased to announce that the first two drill holes have been completed on their silver-polymetallic Carolay property in the province of La Libertad in Peru.
A visual review of the drill core at the property showed both drill holes intersected unexpected sulfide mineralization close to the surface. These intervals began at 43m for CA-10-01 and at 27m for drill hole CA-10-03.
Drilling has been temporarily suspended in order to evaluate mineralized intercepts in the core within the context of the property geology and to re-orient the drill program to test the continuity of this sulfide mineralization. Drilling will resume later in Q1 when the results have been compiled.
The results of the first phase of the drill program lead us to believe more fully that a disseminated silver-polymetallic deposit can be found on the Carolay property," said Woods.
These diamond drill holes targeted a large chargeability anomaly that was defined by a ground IP and magnetic survey conducted during Q2 and Q3 of 2010 and reported in the news release dated November 29th, 2010.
The objective of the first hole, CA-10-01, drilled at azimuth 335o to a depth of 392 meters at -75o, was to intersect a sector of the chargeability anomaly that lies between the 150m-long surface outcrop of the NW-trending Carolay Vein and a sulfide-rich breccia that was found in outcrop 625 meters to the east of the vein.
The second hole, CA-10-03, was drilled at an azimuth of 245o to a depth of 302 meters at -75o to intersect the down-dip extension of the Carolay Vein and to test the western portion of the large chargeability anomaly.
The drill core is currently being logged in detail by Sunset Cove's technical team. Assay results will be released as soon as they are available.
Quality assurance/quality control
Steven Park P.Geo, an independent consultant and qualified person as designated by National Instrument 43-101, has reviewed the technical content of this release. Bratzon Salvador, operations manager, supervises exploration at Sunset Cove's projects. All technical information for the company's projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program.
About Sunset Cove
Sunset Cove is a mineral exploration company incorporated in Canada that seeks to increase shareholder value through the acquisition, exploration and advancement of potentially large-scale precious metals and copper properties. It has a Peruvian mining portfolio in precious metals and copper, with two properties under contract. One of those properties is the Carolay Polymetallic Silver Property (the "Carolay Property").
Forward-Looking Statements
Some of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.
