Santa Fe Metals-Sully East Target Drilling Update
April 29 2014 - 8:00AM
Marketwired
Santa Fe Metals-Sully East Target Drilling Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) -
Santa Fe Metals Corporation (TSX-VENTURE:SFM) ("SFM" or the
"Company") announces that drill hole SU14-07 is now over 1000-m
deep (equivalent to a vertical depth of approximately 900 m from
surface), with an excellent trajectory toward the East sedimentary
exhalative (SEDEX) target at the Sully Project.
The top of the East Target is interpreted at a depth of 800 to
1,000-m from surface. SU14-07 started at -70 degrees east has
flattened to -60 degrees. It is interpreted that at least two
sub-horizontal faults and two sub-vertical faults, all with
significant offset, were intersected by this drill hole.
Challenging ground conditions associated with the most recent
sub-vertical fault have slowed advance rates. A cross section
showing the current geological interpretation, geophysical targets
and traces of nearby historic drill holes can be seen at the
Company's website (www.santafemetals.com). The drill hole is
anticipated to reach the western edge of the East target range
shortly, and to completely test the full width of the target range
within the next 500-m of drilling.
The Sully Project
Sully is located near Fort Steele, 30-kilometres east of the
world-famous Sullivan mine at Kimberley, B.C. The East target is
one of two gravity mass anomalies estimated to come within 800
metres of surface, and extending to depth. Coincident magnetic
anomalies reinforce the positioning of the large-scale gravity
masses also estimated to be approximately 800m apart. Management
believes the best explanation for the twin gravity anomalies is the
presence of two very large vertically oriented SEDEX massive
sulphide bodies.
The Sullivan Mine
Sullivan was discovered in 1892 and is one of the largest SEDEX
deposits in the world. Over its roughly 100-year lifetime, Sullivan
produced almost 300 million ounces of silver, 36 billion pounds of
lead and zinc plus smaller amounts of other metals, collectively
worth over $40- billion at current metal prices. The company
cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the
Sully property.
Technical contents of the Sully Project disclosure in this
news release have been reviewed and approved by Paul Ransom,
P.Geo., a qualified person as defined by National Instrument
43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Scott E. Broughton, P.Eng., President and CEO
To view the figure associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/942274_fig.pdf.
Santa Fe Metals CorporationScott E. Broughton, P.Eng.President
and CEO604.684.2900www.santafemetals.com
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