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Thu, March 31, 2011 Sunset Cove NI 43-101 Technical Report on Azulcunca Property Shows Interesting Copper Results
MONTREAL, March 31 /CNW Telbec/ - (TSXV: SSM) Sunset Cove Mining is pleased to announce that it has filed on SEDAR a NI 43-101 Technical Report on its Azulcunca property located in Puno, Peru.
The report was written by GEOLOGICA of Val d'Or, Canada and recommends a two-phase exploration program with diamond drilling and an estimated budget of approximately US $2.9 million.
"We were happy to see the report confirmed our ideas regarding the potential viability of the property to host an interesting deposit," said Lorne Woods President of Sunset Cove Mining.
Sampling completed by Geologica on the Azulcunca Property has confirmed and corroborated precious and base metals bearing structures hosted within altered andesites. Also, copper disseminations in breccia zones show potential for important mineralization.
The surface samples had showings from 0.19% Cu to 8.3% Cu and averaged around 2.4% Cu.
Geologica reported that in the light of these observations and results, three (3) types of mineralization were recognized on the Azulcunca Property:
1) Vein-type and mantos containing polymetallic (Pb, Zn, Cu, Ag, Au) mineralization.
2) Vein-type (Epithermal) containing precious metals (Au, Ag).
3) Porphyry copper type with disseminations, veins and veinlets network of copper minerals associated with altered and fractured differentiated intrusions with breccia.
The Azulcunca Property is located SE of Lima approximately 95 kilometres NW of Juliaca in the department of Puno (Province of Lampa, district of Ocuviri). The property is approximately 800 hectares in size.
The project is located in the SE continuity of the Andahuaylas-Yauri belt. Many important mining projects of "skarn" and "porphyry" type deposits are located to the NE of the Azulcunca property; Los Chancas, Antillas, Trapiche, Haquira, Cotabambas, Las Bambas, Katanga, Anty, Quechua, Antapacay.
The Tintaya Mine, owned by Xstrata Copper is located only 60 km NE of the property and is a skarn deposit. The open pit mine is producing 85,000 T of copper metal/year (85 Mi T of ore). The reserves and resources (June 2007) were respectively 114 Mi T @ 1.22 % Cu, 0.16 gr Au/T. and 144Mi T @ 1.21% Cu, 0.16 gr Au/t.
The Arasi mine (a disseminated gold deposit) is only 20km south of Azulcunca and is producing 88,000 ounces of gold per year.
In Phase 1, a basic surface exploration program will consist of satellite photo imagery and interpretation, topographic surveying, systematic ground geophysical surveys of magnetometric, spectrometry and induced polarization, soil and/or alluvial geochem sampling and/or pitting; surface geological reconnaissance and detail mapping of lithologic units, alterations, structures and mineralization followed with outcrop workings sampling (channel); data digitization, integration and modeling followed by a detailed work report.
Phase 2 A and B, would involve trenching and diamond-drilling (NQ-size) program on the best targets and mineralized extensions with a provision of 8,000 meters will be completed. Data digitization, integration and modeling update and synthesis work report with compilation surface colour maps, sections, longitudinals, and figures. Phases 1 and 2 of work recommendations are budgeted at USD$2.9 million.
The former owner of the property had thirteen (13) samples taken on the property. The samples were assayed for copper, gold and silver. The samples revealed 110 to 2590 ppb Au, 187 g/t Ag and 7.63% Cu.
Another interesting sampling study by Southern Peru over 71 rock chip samples, in October 2006, revealed 2.95% Cu and 79.8 g/t Ag.
In November 2009, Sunset Cove's team took seven (7) samples from the property where copper, gold and silver mineralization was found. The most promising results were: 6.3 g/t Ag and 3.83% Cu; 0.9 g/t Ag and 0.73% Cu.
Minera Sunset del Peru SAC, a wholly owned subsidy of Sunset Cove, entered into an agreement dated April 26, 2010 where Sunset Cove will pay the amount of $2M over a period of 42 months to acquire 100% interest. A 1.5% NSR (Net Smelter Return) will be paid to the owner.
Quality Assurance/Quality Control
Alain Beauregard P. Geo, of Geologica Inc. an independent consultant and qualified person as designated by National Instrument 43-101, have 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 Mining Inc., is a dynamic Canadian junior mineral exploration and development company dedicated to driving shareholder value through the economical acquisition, exploration and development of precious metals and copper properties in proven Latin American locations to the point where they become attractive joint venture or acquisition targets. Sunset Cove is in Peru now, because now is the time to be in Peru, and has a wholly owned Peruvian subsidiary, Minera Sunset Del Peru S.A.C based in Lima, and is building 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.
Neither 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 release.
