Business & Finance
Business and Finance
Business and Finance
Fri, February 18, 2011 Sunset Cove Releases Results of Carolay Drill Program
MONTREAL, Feb. 18 /CNW Telbec/ - (TSX-V: SSM): Mr. Lorne Woods, President of Sunset Cove Mining is pleased to announce that the logging of first two drill holes have been completed on their silver-polymetallic Carolay property in the province of La Libertad in Peru.
The results show sulfide mineralization in diamond drill hole CA-10-01 from 31 meters to 136.5 meters. The mineralization in CA-10-03 was visible from 20.2 meters to 175.5 meters of depth. The mineralization in this hole was contained in narrower zones than the drill hole CA-10-01.
"The core logging has allowed us to report more fully on what the crew saw on-site," said Woods. "We are looking forward to the assay results confirming what our technical team believes the core is showing."
The rock units intercepted by drill core holes CA-10-01 and CA-10-03 are a series of low-grade metamorphic rocks, primarily phyllite, chlorite schist, quartzite gneiss and metavolcanic rocks. The chalcopyrite is found disseminated; sphalerite is also disseminated or associated with calcite veinlets; trace amounts of fine, disseminated galena were also observed.
In the upper levels of the two drill holes, stockwork veining of pyrite and chalcopyrite grades downward into more disseminated occurrences of sulfides, primarily chalcopyrite.
A 6,000-meter diamond drill campaign was targeting 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.
As was reported in the news release of January 21st, 2011 the company stopped drilling when the technical team on-site observed abundant sulfides leading Sunset to take time out to re-orient the drill program while sending the core to the lab for immediate logging and assaying.
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.
Sunset Cove is anticipating that these assay results will be released by the end of February.
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, P.Eng, 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. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information.
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.
Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at [ www.sedar.com ]. Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
