Sundance announces results from the Stage 1 Drilling at its Pluton Project, Mapimi, Durango, Mexico
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 25, 2012) – Sundance Minerals Ltd. ("Sundance" or the "Company") is pleased to report results of the orientation drilling program on its 100% owned Pluton polymetallic silver-lead-zinc property in Mapimi, Durango Mexico announced in 2011 (July 27, 2011 news release).
Eight out of the nine holes drilled intersected lead-zinc mineralization with local silver. Highlights include holes PLT-2 in the Dos Amigos area (0.47g/t Au, 23.4g/t Ag, 3.12% Pb, 6.45% Zn over 0.65 m) and PLT-9 in the La Cruz area (4.7g/t Ag, 3.97% Zn, 0.52% Pb over 1.2 m). Assay details are shown in Table 1 and drill-hole locations are illustrated in Figure 1.
Initial drilling consists of 3,925 meters distributed in nine core holes designed to test 4 out of 5 existing geochemical, geophysical (ZTEM, NSAMT, gravity) and geological targets outlined in the project (Figure 1). The targets are broad features (2 to 4 km long by 1 km wide) mostly covered by alluvium, along the minimum 25 km-long Ojuela trend. Positive results were encountered in Dos Amigos, La Cruz and San Jose targets where drilling intersected vein-structures, hosted in upper Cretaceous Indidura Formation, interpreted to be connected to carbonate replacement deposits at depth in the underlying limestones of the Aurora Formation. Results at Santa Rita were inconclusive because the target was not reached and La Noria target has not been drilled yet.
These results have outlined prospective areas at least 500 m long over a vertical extent of 300 m and 500 m at the La Cruz and Dos Amigos structures respectively, open along strike as well as at depth. Christopher Osterman, President and CEO of Sundance stated, "Drill-hole results are encouraging as they confirm the persistence of mineralization from surface to at least 500 meters and point to areas where to look for our goal, the proximal carbonate replacement deposits."
Ore-grade intersections encountered to date, although narrow, include hydrothermal alteration, mineralization and structures, indicative of a large and robust hydrothermal system. Given the separation of drill-holes and the consistent alteration and mineralization throughout the Dos Amigos, La Cruz and San Jose targets, Sundance concludes that there is potential in these areas which, laterally or at depth, can hold orebodies similar in size to those found at the neighbouring Platosa or Ojuela mines.
A total of C$780,000, including this drilling campaign, was funded by our former partner Excellon Resources whose expectations were not met and therefore terminated the Option Agreement (announced November 8, 2010) and returned the property to Sundance. Sundance is seeking a new joint venture partner to perform the follow-up exploration work. Recommended future work, subject to finding a suitable partner, entails petrophysical testing of core samples, three-dimensional modelling of geophysical and geological data as well as drilling in identified mineralized zones and untested targets.
Sundance's drill core samples were prepared by ALS Chemex in Hermosillo, Mexico and assayed in ALS Chemex in Canada. The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QA/QC program, supervised by a Qualified Person. Chris Osterman P.Geo. is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and is responsible for the preparation and verification of the technical information in this release.
Sundance Minerals is an exploration company currently focusing on precious and base metal projects in Mexico and the United States. The Company's mission is to create and sustain shareholder value by developing a balanced portfolio of exploration targets in known districts.
Certain statements in this News Release constitute "forward looking statements" that reflect the Company's current expectations and projections about its future results. Information concerning the interpretation of exploration results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; finding a partner to fund future work; and other factors of the mineral exploration industry more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
|Table 1. Assays of relevant intersections|
|PLT-8||No significant values intersected|
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/Map0925.pdf