Business & Finance
Business and Finance
Business and Finance
Thu, March 17, 2011 Sunset Cove Mining Announces Results from the Drill Program on the Carolay Property
MONTREAL, March 17 /CNW Telbec/ - (TSXV: SSM) Sunset Cove today reports the following assay results from recent drilling on the Carolay property in La Libertad, Peru.
Mr. Lorne Woods, Sunset Cove Mining's President, states: 'We are encouraged by observing this new mineralization which corresponds to and explains an IP resistivity anomaly covering an area of approximately 600 square meters."
The first diamond drill hole CA-10-01 intersected 58 meters of mineralized core revealing 0.019 g/t Au; 1.59 g/t Ag; 0.11% Cu; 0.053% Pb and 0.711% Zn. Including a 28.3-meter section with 1 g/t Ag and more.
The second diamond drill hole CA-10-03 intersected 60.95 meters of mineralized core at 1.76 g/t Ag; 0.01% Cu; 0.03% Pb and 0.42% Zn. Including a 42.1-meter section with 1 g/t Ag and more.
The holes were spaced 36 meters apart and appear to have intersected an inclined mineralized 'Manto' of an estimated depth of 40 meters, which would be associated to several base and precious metals hosting structures.
The Carolay property is located nearby the famous auriferous mining area of the Pataz Batholith and the Marañon River where high-grade epithermal vein deposits occur and are operated by Peruvian precious metals companies such as: Consorcio Minero Horizonte S.A., Compañía Minera Poderosa and Compañía Minera Marsa.
Nearby to the southwest of the property, Focus Ventures Ltd. is exploring the past producing Chuvilca Mines (Au, Ag, Pb & Zn).
Sunset Cove is currently planning its next drilling campaign to take advantage of the increase in understanding that has come to its technical team from these early results. Diamond drilling on the Carolay Vein should restart by the middle of April and pick up on the 6,000-meter program originally announced last November.
Significant intersections:
CA-10-01
| From - To (meters) | Au g/t | Ag g/t | Cu% | Pb% | Zn% | Thickness (meters) |
| 43.48 - 55.60 | 0.01 | 0.59 | 0.01 | 0.02 | 0.09 | 12.12 |
| 55.60 - 70.78 | 0.02 | 1.14 | 0.01 | 0.04 | 0.49 | 15.18 |
| 70.78 - 84.50 | 0.01 | 3.02 | 0.01 | 0.12 | 1.20 | 13.72 |
| 84,50 - 93.30 | 0.03 | 1.99 | 0.01 | 0.06 | 1.33 | 8.80 |
| 93.30 - 101.60 | 0.03 | 1.26 | 0.01 | 0.03 | 0.54 | 8.30 |
CA-10-03
| From - To (meters) | Au g/t | Ag g/t | Cu% | Pb% | Zn% | Thickness (meters) |
| 31.60 - 43.00 | 0.01 | 1.02 | 0.01 | 0.03 | 0.52 | 11.40 |
| 43.00 - 51.30 | 0.00 | 2.77 | 0.01 | 0.01 | 0.31 | 8.30 |
| 51.30 - 62.60 | 0.00 | 1.25 | 0.01 | 0.05 | 0.44 | 11.30 |
| 62.60 - 77.40 | 0.00 | 2.06 | 0.01 | 0.06 | 0.60 | 14.18 |
| 77.40 - 92.55 | 0.00 | 1.70 | 0.01 | 0.01 | 0.26 | 15.15 |
Note: These widths are drilling intersections. The true widths are unknown at this time.
Quality Assurance - Quality Control
The Carolay property exploration program is under the supervision of Mr. Alain-Jean Beauregard P.Geo. of Geologica Inc. an independent consultant and Qualified Person as designated by National Instrument 43-101 who has reviewed the technical content of this release. Mr. 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. 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.
