NYBob
15 years ago
Sulliden Gold Corporation NEWS -
TSX: SUE
Sulliden Gold Corporation
Dec 21, 2009 10:23 ET
Sulliden Commences Drilling at Shahuindo
TORONTO, ONTARIO--(Marketwire - Dec. 21, 2009) - Sulliden Gold Corporation ("Sulliden") (TSX:SUE) is pleased to announce that the second drilling program for 2009 has commenced at the Shahuindo Gold Project in Peru. Both diamond drilling and reverse circulation drilling activity have started on site as part of the approximately 4,000 meter exploration program following the recently awarded Category 1 permit (See press-release from December 14th, 2009).
This drilling campaign is the initial part of a larger exploration program planned for 2010. Exploration activities will concentrate on the Gap Zone which covers 500 meters of strike length. Both sides of the Gap Zone have exhibited the largest mineralized widths to date on the deposit.
The Company expects to complete this drilling campaign at the end of January 2010 and will release results as they become available.
Stephane Amireault, Vice President Exploration commented: "We are very pleased to have started drilling activities on the property and believe this campaign will have excellent potential to add to the size of the deposit. We look forward to sharing the results and to continue providing updates on our progress."
Peruvian-based Viceversa Consulting S.A has been contracted by the Company to prepare the Category 2 permit application, which would allow a comprehensive, concession-wide drill program on the Shahuindo site.
QUALIFIED PERSON
Stephane Amireault, P.Eng., Vice President, Exploration for Sulliden Gold Corporation is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. Mr. Amireault has read and approved this news release.
ABOUT SULLIDEN
Sulliden is a Canadian-based mining company focused on the development of its principal asset, the Shahuindo Gold Project, located in Peru. This area is one of the world's most prolific gold producing districts and is home to world-class gold mines including Barrick Gold's Lagunas Norte Mine, 30 km to the south, and the Yanacocha Mine operated by Newmont Mining Company 80 km to the north; both million-ounce per year producing mines.
A positive Preliminary Economic Assessment prepared by AMEC for the Shahuindo Gold Project was completed in December 2009 and Sulliden intends to proceed with a bankable Feasibility study in 2010. While the Company progresses towards its goal of reaching production by mid 2012, a significant focus is being placed on exploration drilling to expand the resource and reveal the upside potential of the Shahuindo deposit.
Sulliden is led by a strong management team with the proven ability to develop, finance, operate and explore mining projects and is positioned to generate superior value for its shareholders.
To view the map related to the release "Shahuindo Gold Project location map" please follow the link: http://media3.marketwire.com/docs/SUE1221.jpg
On behalf of Sulliden Gold Corporation
Peter Tagliamonte, President and CEO
Stan Bharti, Chairman
If you would like to be added to Sulliden's news distribution list, please send your email address to contact@sulliden.com
Caution regarding forward-looking information:
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the effect of the results on the future financial or operating performance of the Company, the size and quality of the company's mineral resources, progress in development of mineral properties, future capital and operating expenses, capital and mine production costs, future metal prices and treatment and refining charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties and planned exploration programs., the issue of permits, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
For more information, please contact
Sulliden Gold Corporation
Scott Moore
Vice President Corporate Development
(416) 861-5903
or
Sulliden Gold Corporation
Caroline Arsenault
Manager Marketing and Investor Relations
(416) 861-5805
www.sulliden.com
http://www.marketwire.com/press-release/Sulliden-Gold-Corporation-TSX-SUE-1094033.html
NYBob
15 years ago
Sulliden Announces Initial Exploration Results-Extends Mineralization at Shahuindo
TORONTO, ONTARIO -- (Marketwire) -- 09/09/09 -- Sulliden Exploration Inc. ("Sulliden") (TSX: SUE) is pleased to announce initial results of the exploration campaign currently ongoing on its Shahuindo Gold Project in northern Peru. This is the first significant exploration program since 2004 and follows the successful resolution of all ownership litigation on the project.
The objective of this exploration program is to determine the potential to expand the ore body beyond the mineral resource established by Met-Chem in 2004. The drill campaign, totalling 4127 meters, is complete and results are available for 1,301 meters of reverse circulation drilling. A 500 meter surface trenching program was also completed.
Assays from the first six reverse circulation holes have all returned mineralization with significant intersections at:
- Hole RSH09-01 returning 0.69 g/t gold over 79.5m
- Hole RSH09-02 returning 0.92 g/t gold over 19.5m
- Hole RSH09-03 returning 0.68 g/t gold over 58.5m and 0 .60 g/t gold over 115m
- Hole RSH09-04 returning 0.72 g/t gold over 63m
- Hole RSH09-05 returning 0.88 g/t gold over 76.5m
The Preliminary Economic Assessment, scheduled for completion in September, established a 0.22g/t gold economic cut-off grade. Please refer to the press-release from August 5th, 2009 for more information.
"We are encouraged by the initial results from the current exploration campaign at the Shahuindo Gold Project" commented Peter Tagliamonte, President and CEO "Our initial exploration campaign is to test on the potential to expand the mineral resources along the trend between the San Jose, East and Moyan Alto Zones. The exploration team is doing a great job in showing that the current Shahuindo mineralization can be expanded and we are encouraged with the results. We are now planning the next, significantly larger phase of exploration, which we believe will allow Sulliden to expand the mineral resources as we move the Shahuindo Gold Project into the next stages of development."
The exploration campaign targeted areas between the East Zone and Moyan Alto Zone. The primary target area, identified as the "Gap Zone", is located on trend between the San Jose Zone and the East Zone. The second target area, named the "Junction Zone", is located on trend between the East Zone and Moyan Alto Zone. The initial results of this campaign demonstrate a strong likelihood of continuity between the mineralized zones and indicate the potential to expand the current resource.
To view the Figure 1 Drill Hole Collar Locations and Trench Locations Map, please visit the following link:
http://media3.marketwire.com/docs/suefig1.jpg
EXPLORATION RESULTS
Trenches
The trench locations of this exploration program were selected to test the continuity and extensions of the main mineralization corridor between the San Jose Zone, East Zone and Moyan Alto Zones (See Figure 1). Results from the trench program have been compiled. Trenches that intersected bedrock mineralization are displayed in the Table below:
---------------------------------------------------------------------------- Trench Zone True width (m) Au (g/t) ---------------------------------------------------------------------------- T3 Gap Zone 15.8 1.26 ---------------------------------------------------------------------------- T3 Gap Zone 21.0 0.29 ---------------------------------------------------------------------------- T3 Gap Zone 9.0 0.33 ---------------------------------------------------------------------------- T4 East Zone 58.0 (uncertain) 1.15 ---------------------------------------------------------------------------- T5 Junction East - Moyan Alto Zones 3.0 2.69 ----------------------------------------------------------------------------
Drilling
Gold assay results have been received from the first six of the 18 reverse circulation holes. The table below summarizes intervals where most gold assays were greater than 0.3 g/t.
---------------------------------------------------------------------------- Location Drill Hole # From To Meters Au True (m) (g/t) width (m) ---------------------------------------------------------------------------- East Zone RSH09-01 6.0 85.5 79.5 0.69 55(1) ---------------------------------------------------------------------------- East Zone RSH09-02 34.5 54.0 19.5 0.58 19(2) ---------------------------------------------------------------------------- East Zone RSH09-02 117.0 136.5 19.5 0.92 12(2) ---------------------------------------------------------------------------- East Zone RSH09-02 165.0 222.0 57.0 0.35 30 to 40(3) ---------------------------------------------------------------------------- East Zone RSH09-02 243.0 261.0 18.0 0.56 13(2) ---------------------------------------------------------------------------- East-Gap Zone RSH09-03 42.0 100.5 58.5 0.68 40(3) ---------------------------------------------------------------------------- East-Gap Zone RSH09-03(4) 109.5 225.0 115.5 0.60 70(5) ---------------------------------------------------------------------------- Junction East- Moyan Alto Zone RSH09-04 37.5 100.5 63.0 0.72 35(6) ---------------------------------------------------------------------------- Junction East- Moyan Alto Zone RSH09-05 37.5 114.0 76.5 0.88 45(6) ---------------------------------------------------------------------------- East Zone RSH09-06 3.0 21.0 18.0 0.45 18(2) ----------------------------------------------------------------------------
(1) Complex shape, according to the current section interpretation.
(2) According to current section interpretation.
(3) Uncertain, according to current section interpretation.
(4) Bottomed in mineralization (5) Uncertain, assuming the postulated existence of a N-S structure to explain the intersection.
(6) Uncertain, assuming that the Junction zone behaves like the Moyan Alto Zone.
To view the Figure 2 Close-up of the Gap Zone within the East Zone, please visit the following link:
http://media3.marketwire.com/docs/suefig2.jpg
To view the Figure 3 Close-up of Junction Zone, between East and Moyan Alto Zones, please visit the following link:
http://media3.marketwire.com/docs/suefig3.jpg
Quality Control and Assurance
The samples from this exploration program were prepared and analyzed by ALS Chemex in Lima, Peru exercising a thorough Quality Control and Assurance program (QA/QC). All ALS Chemex labs are ISO 9000 registered laboratories.
The technical contents of this press release were reviewed by Stephane Amireault, P.Eng., Vice President, Exploration for Sulliden Exploration Inc. Mr. Amireault is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101.
About Sulliden
Sulliden is a Canadian based mining company focused on the development and exploration of the Shahuindo Gold Project located in northern Peru, one of the world's most prolific gold and silver producing districts. World-class gold mines in the region include Barrick Gold's Lagunas Norte Mine, 30 km to the south, (1.2 million ounces of gold produced in 2008), and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the north (1.8 million ounces of gold produced in 2008).
The Shahuindo Gold Project has a NI 43-101 compliant Mineral Resource Estimation completed by Met-Chem Canada Inc. in 2005 that estimates 38 million tonnes grading 0.95 grams per tonne of gold and 23 grams per tonne of silver of indicated resource (1.2 million ounces gold and 28 million ounce silver) and 17.2 million tonnes grading 0.62 grams per tonne of gold and 12.83 grams per tonne silver in the inferred category (342,000 ounces gold and 7.1 million ounces silver) (See Sulliden Press Release of April 29, 2005 for details regarding the resource estimate).
In March 2009, the five-year legal dispute that disrupted the Shahuindo Gold Project was resolved. With the current resolution, Sulliden now holds 100 percent of the registered and undisputed ownership of the Shahuindo property and has secured exploration options on 16 adjoining mining concessions.
In April 2009, the Board of Directors appointed a new Management team with the focus and ability to develop, finance and operate mining projects. With a strong strategic plan to advance the development of its Shahuindo Gold Project and potential for mineral resource expansion, Sulliden is positioned to generate superior value for its shareholders.
The Mineral Resource Estimation was completed by Met-Chem Canada Inc. in 2005 and is filed on www.sedar.com.
To view the Figure 1 Shahuindo Project location map, please visit the following link:
http://media3.marketwire.com/docs/shahuindomap.jpg
On behalf of Sulliden Exploration Inc.
Peter Tagliamonte Stan Bharti President and CEO Chairman
Caution regarding forward-looking information:
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the proposed use of the proceeds of the financing, the receipt of all necessary approvals, the outcome of legal proceedings, the issue of permits, the size and quality of the company's mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contacts:
Sulliden Exploration Inc.
Scott Moore
(416) 861-5903
smoore@sulliden.com
http://www.sulliden.com
Ed Monton
20 years ago
Sulliden Exploration Inc.: The Superior Court of Lima,
Peru Reaffirms Sulliden's Title to Shahuindo
MONTREAL, QUEBEC--(CCNMatthews - Sept. 23, 2004) - Sulliden
Exploration Inc. (TSX: SUE) is pleased to announce that it has
just received notification of two significant judicial decisions
issued by the Fifth Civil Chamber of the Superior Court of Lima,
Peru in connection with the legal title to Sulliden's Shahuindo
gold/silver project in Peru.
The first decision revokes the illegal injunction obtained by
Alta Tecnologia e Inversion Minera y Metalurgica S.A.
("Atimmsa"), the new shareholder of Compania Minera Algamarca
S.A. ("Algamarca"), that questioned the validity of the Transfer
Agreement between Minera Sulliden Shahuindo S.A.C and Algamarca,
and which temporarily suspended the Agreement's provisions. The
Transfer Agreement was officially formalized in a public deed
before a Peruvian Notary on November 11, 2002 in full accordance
with Peruvian law. This decision, which confirms the Tenth Civil
Court of Lima's decision that nullified the procedures initiated
by Atimmsa, validates Sulliden's ownership of the Shahuindo
property.
The second decision pertains to the nullification of the
resolution that had originally admitted the complaint by Atimmsa
against Sulliden on the basis that Atimmsa, having acquired
control of Algamarca after the Transfer Agreement was already in
effect, was not a party to this Agreement and therefore should
not be entitled to petition the Courts to declare its invalidity.
The aforenoted judicial decisions of the Superior Court follow
the Supreme Court's unanimous ruling last November in Sulliden's
favour declaring the incompetence of the judge in La Esperanza,
Trujillo who had admitted the complaint. This concludes the
lawsuit pertaining to the injunction which should result in
Sulliden's ownership of Shahuindo being properly reflected in the
public registry.
Sulliden is a mineral exploration company focused on the
development of its 100% interest in the Shahuindo gold-silver
project located 25 km north of Barrick Gold's Alto Chicama gold
deposit and 70 km south of Newmont's Yanacocha deposits in
northern Peru. On March 8, 2004, the Company announced a new
resource estimate conducted by Met-Chem Canada Inc. in accordance
with NI 43-101 of 34.4 million tonnes at 1.03 g/t of gold and
23.61 g/t of silver for a total resource of 1,114,076 ounces of
gold and 26,108,808 ounces of silver. A technical report has been
filed with the regulatory authorities and is available on SEDAR
(www.sedar.com).
The second phase drilling program at Shahuindo is underway to
outline the property's global potential through diamond drilling
on new target areas identified by encouraging soil geochemistry,
ground magnetics and trenching results. In addition, Sulliden has
an option to earn a 66% interest on a further 1,900 hectares
adjoining the Shahuindo property known as the Vikingo
concessions, bringing its exposure in this exciting gold district
to almost 10,000 hectares.
Certain of the information contained in this news release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include without limitation, statements
regarding estimates of reserves and resources, future plans and
objectives, results of exploration, uncertainty with respect to
changes in general economic or political conditions, title to
properties, litigation, legislative, environmental and other
judicial, regulatory and competitive developments in areas in
which the Company operates. There can be no assurance that such
statements will prove to be accurate; 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 Sulliden's expectations are disclosed
under the heading "Risk Factors" in its 2004 Annual Report as
well as in its Annual Information Form (AIF) both of which are
filed with Canadian regulators on SEDAR.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sulliden Exploration Inc.
Donna Yoshimatsu, Vice-President
Investor Relations
(416) 362-8809
dyoshi@sulliden.com
or
Sulliden Exploration Inc.
Michel Rathe
Chief Financial Officer & Secretary
(514) 861-1953
Ed Monton
20 years ago
SUUUUUUEEEEEEEEEEEEE!!!
Sulliden partners to advance Shahuindo development
2004-08-18 07:38 ET - News Release
Mr. Jean-Charles Potvin reports
SULLIDEN RETAINS ARUNTANI TO ADVANCE SHAHUINDO TOWARDS PRODUCTION; ANNOUNCES APPOINTMENT OF MR. GUIDO DEL CASTILLO TO BOARD OF DIRECTORS
Sulliden Exploration Inc., through its wholly owned Peruvian subsidiary, Minera Sulliden Shahuindo S.A.C., has signed a strategic and technical co-operation agreement with Aruntani S.A.C., Peru's largest privately held gold-producing company, to assist in advancing its Shahuindo gold/silver property toward the production stage.
Aruntani, widely recognized for its expertise in the design, construction and operation of heap leach gold mines, is acclaimed for the rapid advancement of two of southern Peru's largest discoveries, the Santa Rosa and Tucari deposits, estimated to produce about 180,000 ounces in 2004. These deposits were developed at extremely competitive low capital costs and in record time. Sulliden expects to benefit significantly from Aruntani's expertise in the development of its Shahuindo property.
The president of Aruntani, Guido del Castillo, has accepted Sulliden's invitation to join as a member of the board of directors. Mr. del Castillo has more than 35 years of experience in open-pit and underground mining operations, and is a prominent and highly respected personality in Peruvian mining.
"We are deeply honoured to welcome Mr. del Castillo to the Sulliden board and look forward to strengthening our relationship with a first-class operator as Aruntani," added Jacques Trottier, president and chief executive officer of Sulliden, on behalf of the board of directors. "Sulliden will be entering an exciting new chapter that will ensure the maximization of the rich potential of its Shahuindo property." The company also wishes to gratefully acknowledge the contributions of Leonard Harris, former president of Newmont Peru, who continues to work diligently as a director of Sulliden.
Mr. del Castillo began his long and illustrious career in mineral engineering having graduated from the Escuela Nacional Ingenieros in Lima followed by graduate studies at the Colorado School of Mines. He is currently president of MDH S.A.C. and Bradley-MDH S.A.C., a joint venture with Bradley Brothers of Rouyn-Noranda of Quebec, Canada.
The second phase drilling program at Shahuindo is currently under way to outline the property's global potential through diamond drilling on new target areas identified by encouraging soil geochemistry, ground magnetics and trenching results. The first set of drilling results and a geochemistry update are expected to be announced in Stockwatch in September, 2004. In addition, Sulliden has an option on a further 1,900 hectares adjoining the Shahuindo property known as the Vikingo concessions, bringing its landholdings in this exciting gold district to almost 10,000 hectares.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
Ed Monton
21 years ago
Sulliden Begins Drilling At Shahuindo Property; Appoints
New General Manager Of Exploration
MONTREAL, QUEBEC--(CCNMatthews - Apr 27, 2004) - Sulliden
Exploration Inc. (TSX: SUE) is pleased to announce that it has
commenced drilling at its Shahuindo gold/silver project in the
Cajamarca district of northern Peru.
Drilling has begun on the eastern section of the property,
approximately 1 km from the final drill hole of the first phase
drilling program completed last year. Recent soil geochemistry
and geophysics have suggested the potential continuity of the
mineralization to the east and to the north, resulting in
expansion into areas of the property never before tested. Recent
trenching results have revealed a number of anomalies where
mineralization appears to be disseminated within oxidized porous
sediments resembling that previously encountered in the known
zones.
This second phase of exploration has been designed to outline the
global potential of the 10,000 hectare property with a minimum of
10,000 meters of diamond drilling. The initial focus will be
directed at new target areas identified by recent encouraging
soil geochemistry, ground magnetics and trenching, followed by
the extension of the mineralized lenses which remain open along
strike.
Sulliden is also pleased to announce the appointment of Mr.
Vernon Arseneau to the position of General Manager of
Exploration. Mr. Arseneau will be based in Sulliden's Lima office
and will be responsible for the Company's exploration activities,
drawing on his nearly thirty years of technical and
organizational experience with projects throughout Latin America
and Canada. He comes to Sulliden after twenty years with Noranda
Inc. having served as General Manager for Noranda Peru SAC in
addition to heading its exploration efforts in Argentina.
"Vernon's accomplishments and expertise have placed him among the
who's who in international exploration," adds Jacques Trottier,
President of Sulliden Exploration. We have entered an exciting
chapter in Shahuindo's development with the talent and expertise
in place to explore its world class potential."
Sulliden Exploration Inc. is a mineral exploration company
focused on the development of its 100% interest in the Shahuindo
gold-silver project located 25 km north of Alto Chicama and 70 km
south of Yanacocha in northern Peru. In 2003, the first phase of
a 3,450 meter drilling program identified a high grade gold and
silver Breccia zone as well as five new target areas. This formed
the basis of a new resource calculation in March 2004 by Met-Chem
Canada Inc. of 25.8 million tonnes of 1.07 g/t gold and 23.97 g/t
silver in the indicated category, and 8.5 million tonnes of 0.92
g/t gold and 22.54 g/t silver in the inferred category.
Certain of the information contained in this news release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include without limitation, statements
regarding estimates of reserves and resources, future plans and
objectives, results of exploration, uncertainty with respect to
changes in general economic or political conditions, title to
properties, litigation, legislative, environmental and other
judicial, regulatory and competitive developments in areas in
which the Company operates. There can be no assurance that such
statements will prove to be accurate; 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 Sulliden's expectations are disclosed
under the heading "Risk Factors" in its 2003 Annual Report as
well as in its Annual Information Form (AIF) both of which are
filed with Canadian regulators on SEDAR.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sulliden Exploration Inc.
Dr. Jacques Trottier
President
(514) 861-1953
E-mail: sulliden@colba.net
or
Sulliden Exploration Inc.
Donna Yoshimatsu
VP Investor Relations
(416) 362-8809
E-mail: investors@sulliden.com
Ed Monton
21 years ago
Sulliden Exploration announces proposed closing date for
financing and update on its JV Partnership with Socrate
Capital regarding the Shahuindo property in Peru
MONTREAL, CANADA--Sulliden Exploration Inc. ("Sulliden") (TSX:
SUE) is pleased to announce that the closing of the financing
announced in its press release of December 4, 2003 is anticipated
for February 3, 2004.
Sulliden also announces its intention to transfer 30% of the
shares of its subsidiary, Minera Sulliden Shahuindo S.A.C. to its
joint venture partner, Socrate Capital Inc. in accordance with
the terms of the sole joint venture agreement of November 12,
2002. Sulliden and Socrate agreed to enter into a shareholders
agreement, upon the transfer of such shares to Socrate, which
will govern their rights and obligations as shareholders of
Minera Sulliden Shahuindo S.A.C., including the future funding of
the work programs on the Shahuindo property.
Certain of the information contained in this news release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include without limitation, statements
regarding estimates of reserves and resources, future plans and
objectives, uncertainty with respect to precious metal price
volatility, title to properties, project financing and regulatory
environmental and other permits. There can be no assurance that
such statements will prove to be accurate; 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 Sulliden's expectations are
disclosed under the heading "Risk Factors" in its 2003 Annual
Report as well as in its 2003 Annual Information Form (AIF) both
of which are filed with Canadian regulators on SEDAR.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Jacques Trottier
President
(514) 861-1953
sulliden@colba.net
or
Donna Yoshimatsu
VP Investor Relations
(416) 362-8809
dyoshi@sulliden.com
Ed Monton
21 years ago
SUE
NOVEMBER 17, 2003 - 08:45 ET
Sulliden Receives Favorable Ruling from Supreme Court in
Peru
MONTREAL, QUEBEC--In a decisive and unanimous Supreme Court
ruling in Lima, Peru, Sulliden has received official notification
that the judge in La Esperanza, Trujillo, who had previously
acted in favour of the counterparty regarding the legitimacy of
Sulliden's purchase contract of the Shahuindo property, has been
declared legally incompetent in the matter. As a consequence of
this judgement, any actions undertaken with respect thereto are
expected to be reversed and declared null and void. The Supreme
Court has notified Sulliden that legal title to its Shahuindo
property will be officially presided over in Lima where
Sulliden's transfer of title to the property was duly signed and
formalized before a public notary earlier in November, 2002 when
the company completed purchase, and where the parties hold legal
domicile.
"This is a major ruling in our favour", asserts Dr. Jacques
Trottier, President and CEO of Sulliden. "We have always
maintained confidence about the validity of our legal title to
Shahuindo, and are very pleased to have received the unanimous
support of the Supreme Court of Peru". The ruling is expected to
have a decisive impact on the course of events in the weeks ahead
that should result in Sulliden's registered title to Shahuindo
official and final.
On another note, Sulliden is pleased to announce that it has made
the fourth consecutive installment in the amount of US$840,000 in
accordance with the terms of the purchase agreement for the
Shahuindo property. With this payment, Sulliden has satisfied all
required scheduled payments to date towards the total purchase
price of US$4.13 million, with two remaining payments of US$1
million and US$1.5 million scheduled for May and November of next
year respectively. Sulliden has the option of accelerating the
payments at its discretion.
Sulliden Exploration Inc. (TSX: SUE) is a mineral exploration
company with interests located in Canada and Peru. Its principal
asset is its 70% interest in the Shahuindo gold-silver project
located in the department of Cajamarca of northern Peru, which
recently announced encouraging results of its first phase
drilling program. A second phase of drilling is planned before
the end of this year, upon receipt of all the required permits
from the Peruvian authorities. The Company currently has
35,481,331 shares outstanding with working capital of $4.8
million.
Certain of the information contained in this news release
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include without limitation, statements
regarding estimates of reserves and resources, future plans and
objectives, uncertainty with respect to precious metal price
volatility, title to properties, project financing and regulatory
environmental and other permits. There can be no assurance that
such statements will prove to be accurate; 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 Sulliden's expectations are
disclosed under the heading "Risk Factors" in its 2003 Annual
Report as well as in its 2003 Annual Information Form (AIF) both
of which are filed with Canadian regulators on SEDAR.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Jacques Trottier
President
(514) 861-1953
sulliden@colba.net
http://www.sulliden.com
or
Donna Yoshimatsu
VP Investor Relations
(416) 362-8809
dyoshi@sulliden.com
http://www.sulliden.com
Ed Monton
21 years ago
SUE
NOVEMBER 10, 2003 - 08:32 ET
Sulliden Exploration Inc: Geochemical Program Update on
Gold-Silver Shahuindo Property in Peru
MONTREAL, CANADA--Sulliden Exploration Inc. (TSX: SUE) is pleased
to announce that it has completed the first part of a detailed
geochemical soil sampling program on its 70%-owned Shahuindo
gold-silver property in the department of Cajamarca, northern
Peru.
This portion of the program focused on the target areas
identified during the first phase of drilling that was completed
earlier in August of this year and comprised approximately 90
line kilometers with samples taken every 50 meters. The results
very clearly show numerous and distinct areas of anomalous gold
in soil, including one directly overlying the known San Jose zone
as indicated by a contour line at values higher than 200 parts
per billion (ppb). (Gold values over 120 ppb are considered
anomalous). This is significant insofar as it confirms the
reliability of the geochemistry as an appropriate exploration
means for the property. Moreover, the anomaly is seen as
extending the high grade Breccia zone to the North for an
additional 300 meters, which remains largely untested by
drilling.
Another area of particular interest is developing around a gold
anomaly with indicated values of over 120 ppb up to 3,500 ppb
over the area labelled the West zone. The anomaly has a minimum
strike length of 800 meters, some 100-300 meters in width and
open to the west. To date, only one diamond drill hole has
effectively tested this area at its eastern limit, hole SH03-16,
which was previously reported to have returned 0.95 grams of gold
per tonne over 30 meters.
A further anomaly of 400 meters in length lies north and on
strike with the East zone. Yet another anomaly is currently being
explored which is located to the north contact of the main
porphyry and corresponds to a strong IP chargeability. In total,
at least four new distinct and significant untested anomalous
areas have emerged over a strike length of 5 kilometers, three of
which remain open at the borders of the current grid.
As a result of the encouraging indications in the geochemistry
and in view of the current grid area covering roughly only
one-quarter of the entire property, the Company has decided to
extend the known grid with complete sampling to be undertaken on
lines every 200 meters over the property's entirety with in-fill
lines every 100 meters in areas of anomalous values. Results of
the complete program including the extended areas are expected in
the next several weeks.
Sulliden Exploration Inc. is a mineral exploration company with
interests located in Canada and Peru. Its principal asset is its
70% interest in the Shahuindo gold-silver project in northern
Peru which recently announced encouraging results of its first
phase drilling program with 25 of the 27 holes drilled returning
gold mineralization. A second phase of drilling is planned before
the end of this year, upon receipt of all the required permits
from the Peruvian authorities. The Company currently has
35,481,331 shares outstanding with working capital of over $6
million.
Stephane Amireault is a Geological Engineer and a member of the
Professional Engineers of Quebec who serves as the "Qualified
Person" for this release as defined by the Ontario Securities
Commission National Instrument 43-101. Mr. Amireault is a project
geologist for Sulliden Exploration Inc. and has supervised the
preparation of the technical data contained within this release
and certifies the data to be accurate based on current geologic
knowledge of the deposit.
Certain of the information contained in this news release
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include without limitation, statements
regarding estimates of reserves and resources, future plans and
objectives, uncertainty with respect to precious metal price
volatility, title to properties, project financing and regulatory
environmental and other permits. There can be no assurance that
such statements will prove to be accurate; 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 Sulliden's expectations are
disclosed under the heading "Risk Factors" in its 2003 Annual
Report as well as in its 2003 Annual Information Form (AIF) both
of which are filed with Canadian regulators on SEDAR.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sulliden Exploration Inc.
Dr. Jacques Trottier
President
(514) 861-1953
E-mail: sulliden@colba.net
or
Sulliden Exploration Inc.
Donna Yoshimatsu
VP Investor Relations
(416) 362-8809
E-mail: dyoshi@sulliden.com
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
Ed Monton
21 years ago
SUE
NOVEMBER 6, 2003 - 11:17 ET
Sulliden Announces Appointment of Celso Sotomarino
Chavez as President of Minera Sulliden Shahuindo S.A.C.
MONTREAL, QUEBEC--Mr. Jean Depatie, Chairman of the Board of
Sulliden Exploration Inc. (TSX: SUE), is pleased to announce the
appointment of Mr. Celso Sotomarino Chavez as President of
Sulliden's wholly-owned Peruvian subsidiary, Minera Sulliden
Shahuindo S.A.C.
Highly esteemed in the mining community in Peru, Mr. Sotomarino
received his degree in mining engineering from the National
University of Lima in 1948 and began his career as a mining
engineer for Cerro de Pasco Corporation. Over the next fifty
years, he would hold several key senior positions with mining
operations throughout Peru, as well as pursuing his goals in
academia with degrees in mining and economics. He was a Professor
at the University of Lima and San Marcos in mining exploration
and economics, as well as Vice-Dean of the Engineers College of
Peru. He also served as President of the Scientific and Mining
Technological Institute of Peru and is a Director of Banco Minero
del Peru. From 1980 to 1990, Mr. Sotomarino was a Member of the
National Parliament and has served as a Member of the Constituent
Assembly and Democratic Constituent Congress.
"We are privileged to welcome Mr. Sotomarino to the Sulliden
group as the representative for corporate development activities
at our 70%-owned Shahuindo gold-silver project located in the
Department of Cajamarca, Peru. His presence there will be
integral to meeting our agenda in the weeks and months ahead",
remarked Mr. Depatie.
Mr. Sotomarino's appointment is the latest in a series of recent
announcements that has elevated Sulliden's stature and
credibility in the mining industry in Peru and exemplifies the
Company's commitment to enhancing shareholder value by building
upon its strengths in key regions.
Sulliden Exploration Inc. is a mineral exploration company with
interests located in Canada and Peru. Its principal asset is its
70% interest in the Shahuindo gold-silver project in northern
Peru which recently announced encouraging results of its 27-hole
first phase drilling program. A second phase of drilling is
currently being planned. The Company has 35,481,331 shares
outstanding with working capital of over $6 million.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sulliden Exploration Inc.
Dr. Jacques Trottier,
President
(514) 861-1953
Email: sulliden@colba.net
or
Sulliden Exploration Inc.
Donna Yoshimatsu,
VP Investor Relations
(416) 362-8809
Email: dyoshi@sulliden.com
Website: www.sulliden.com
Tackler
21 years ago
SUE testing ore recoveries:
Press Release Source: Sulliden Exploration Inc.
Sulliden Reports Excellent Metallurgical Results From its High Grade Gold-Silver Breccia Zone at Shahuindo, Peru
Wednesday October 1, 10:53 am ET
MONTREAL, CANADA--Sulliden Exploration Inc. (TSX: SUE - News) announces excellent metallurgical test results of drill core samples taken from the Breccia Zone of its 70% owned Shahuindo gold-silver property in the department of Cajamarca, northern Peru.
In a report produced by Kappes, Cassiday & Associates (KCA) of Reno, Nevada detailing results of metallurgical testing it performed on drill core samples taken from the high grade Breccia Zone located adjacent to the main San Jose Zone, recovery rates for as-received gold samples averaged 88%, while stage-crushed samples were much higher at 96%. Silver recovery for as-received samples averaged 52%, increasing to 56% when pulverized. These results were based on Cyanide Bottle Roll Leach tests performed to evaluate the recovery rate of gold and silver for heap-leach type operations.
The results are significantly higher than the recovery data reported earlier by Asarco which was based primarily on the main San Jose Zone and excluding the high grade Breccia Zone. First identified during Phase I of the drilling program announced in August of this year, the high-grade, high-recovery Breccia Zone located at surface has the potential to become an excellent 'starting pit' for a mining operation and should contribute significantly to the economic potential of the property.
The results also indicated remarkably fast recoveries: most of the samples reached maximum recovery after only eight hours of leaching. Average sodium cyanide consumption on the as-received and pulverized material was very low (0.33 and 0.61 kg NaCN/MT respectively) which also impacts on lower operating costs.
Sulliden Exploration Inc. is a mineral exploration company with interests located in Canada and Peru. Its principal asset is its 70% interest in the Shahuindo gold-silver project in northern Peru which recently announced encouraging results of its 27-hole first phase drilling program. A second phase of drilling is expected to begin in November of this year. The Company currently has 35,058,331 shares outstanding with working capital of over $6 million.
--------------------------------------------------------------------------------
Contact:
Sulliden Exploration Inc.
Dr. Jacques Trottier
President
Phone: (514) 861-1953
sulliden@colba.net
or
Sulliden Exploration Inc.
Donna Yoshimatsu
VP Investor Relations
Phone: (416) 362-8809
dyoshi@sulliden.com
--------------------------------------------------------------------------------
Source: Sulliden Exploration Inc.
Ed Monton
21 years ago
This press release caught my eye. Looks like they think they have something to sell to a major:
Montreal, Canada - February 25, 2003
MONTREAL, CANADA--Mr. Jean Depatie, Chairman of the Board of Directors of Sulliden Exploration Inc. (TSX: SUE), is pleased to announce the appointment of Mr. Claude Britt to the positions of Vice President, Exploration and director of the company.
In this capacity, Mr. Britt will have responsibility for all of the exploration activities of the company and its Peruvian subsidiaries. Mr. Britt, holder of a Bachelor's degree in geology, has been active in the mining field for over thirty years, from exploration to mine operation. Well known in the industry, particularly for his good negociation skills between junior exploration companies and major mining companies, Mr. Britt will work directly with the President, Jacques Trottier, in the strategic future development of the Shahuindo gold project in Peru.
The management and Board of Directors of the company are very happy with this appointment. It is with enthusiasm that the Sulliden team welcomes Mr. Britt, who will surely add a new dimension to the development of the company.
For Further information please contact:
François Marcotte, Investor Relations
Tel: (514) 277-6146
Toll free: 1-877-922-6535
E-mail: frmarcotte@qc.aira.com
Jacques Trottier, President
at (514) 861-1953 or via facsimile at (514) 861-1446 1155
University Street, Suite 812, Montreal, Quebec H3B 3A7
http://www.sulliden.com
E-mail : sulliden@core-net.com
Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
Hot Features
Premium
