Developing Bellechasse-­Timmins Gold Deposit

New Discovery Resulting in a 20KM Mineralized Gold Belt

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Message: Sue as a comparison

Look at the results from Sue, their current MC is about 175M dollars and their key project yielded assays that I believe we will top in our next set of assays.

Glorieux

Mr. Stan Bharti reports

SULLIDEN EXPANDS MINERALIZATION AT SHAHUINDO AND IDENTIFIES SIGNIFICANT POTENTIAL TO EXTEND THE MAIN MINERALIZED CORRIDOR

Sulliden Gold Corp. Ltd. has released positive results for the first 14 drill holes totalling approximately 2,650 metres of the current 30,000-metre exploration program on the Shahuindo property in Peru. Additionally, a recent geophysical survey has identified a significant anomaly to the southeast of the Main mineralized corridor, which represents a potential 800-metre extension along strike of the currently defined 3.8-kilometre Main mineralized corridor. The company intends to conduct drilling in this new target area during its current exploration program.

Highlighted below are selected drill results from the Central zone, East zone and Moyan Alto zone, which have all intersected mineralization outside of the currently known pit shell defined in the preliminary assessment in December, 2009. These results demonstrate the continued growth potential along strike with mineralization remaining open in all directions and at depth:

  • 1.08 grams per tonne gold and 1.4 grams per tonne silver over 20.8 metres, and 0.66 gram per tonne gold and 1.9 grams per tonne silver over 33.7 metres in hole SH10-119, and 1.41 grams per tonne gold and 25.6 grams per tonne silver over 15.0 metres, and 0.67 gram per tonne gold and 3.9 grams per tonne silver over 16.0 metres in hole SH10-122 in the Central zone;
  • 1.15 grams per tonne gold and 35.9 grams per tonne silver over 54.3 metres, including 1.41 grams per tonne gold and 48.2 grams per tonne silver over 38.5 metres in hole SHM10-118 in the East zone;
  • 0.82 gram per tonne gold and 10.0 grams per tonne silver over 33.5 metres, including 1.07 grams per tonne gold and 15.9 grams per tonne silver over 15.0 metres in hole RSH10-38 in the Moyan Alto zone.

Stephane Amireault, vice-president, exploration, commented: "The initial assay results from this exploration campaign are very encouraging and confirm the definition of additional mineralized areas in each targeted zone. The broad widths and grades of these drill holes are particularly important as most of them are located outside of the current mineral resource grade shells. This represents a good potential for us to continue to expand the mineral resource in both oxides and sulphides. The exploration program at the Shahuindo property continues to confirm a mineral deposit that is open in all directions."

                             SUMMARY OF RESULTS

                   From        To   Interval    True width    Gold    Silver
Drill hole No.  (metres)  (metres)   (metres)   (metres)(1)   (g/t)     (g/t)

Central zone                                
SH10-117           15.3      61.2       45.9          31.4    0.33       3.7
SH10-117           69.3      83.1       13.8           9.2    0.46       1.4
SH10-117           94.9     165.3       70.4          47.0    0.73       4.2
Including         139.9     163.7       23.8          15.9    1.29       4.9
SH10-117          174.6     190.9       16.3          10.9    0.27       1.6
SH10-119           10.4      43.4       33.0          20.8    1.08       1.4
SH10-119           63.9      91.9       28.0          17.3    0.53       6.5
SH10-119          108.3     162.1       53.8          33.7    0.66       1.9
SH10-120(2)         0.4      42.6       42.2          29.6    0.53       1.2
SH10-120          102.1     111.1        9.0           6.2    0.61       1.0
SH10-120          126.1     220.0       93.9          63.9    0.79       5.5
Including         126.1     156.1       30.0          20.4    0.96       2.1
Including         179.1     196.4       17.3          11.8    1.48      12.9
SH10-122(6)        30.3      55.8       25.5          16.0    0.67       3.9
SH10-122           75.3     105.3       30.0          18.6    0.42       2.6
SH10-122          132.3     156.3       24.0          15.0    1.41      25.6
SH10-122          175.7     185.7       10.0           6.3    0.35      18.0
SH10-1232(2)        1.4      12.0       10.6           7.5    0.43       1.1
SH10-123           24.0      34.6       10.6           7.4    0.52       8.4
SH10-123           47.9      64.6       16.7          11.5    0.45       1.1
SH10-123          109.5     144.0       34.5          23.5    0.46      10.6
SH10-123          151.5     161.0        9.5           6.5    0.34      10.1
SH10-123          164.6     180.0       15.4          10.5    0.34       2.2
SHM10-124(4)        0.0     150.2      150.2            --      --        --
SHM10-124         205.9     234.6       28.7          15.9    0.43       4.5
East zone                                 
SHM10-118(4)        0.0     200.0      200.0            --      --        --
SHM10-118(3,5)    200.0     294.7       94.7          54.3    1.15      35.9
including         227.6     294.7       67.1          38.5    1.41      48.2
Moyan Alto zone                              
RSH10-36(2)         3.0      15.0       12.0           6.9    0.57       1.1
RSH10-36           93.0     102.0        9.0           5.2    0.43      11.5
RSH10-36          112.5     117.0        4.5           2.6    0.41       6.9
RSH-10-37          81.0     126.0       45.0          27.7    0.43       4.6
RSH-10-37         157.5     175.5       18.0          11.1    0.29       2.5
RSH10-38           43.5      48.0        4.5           2.6    1.00       1.3
RSH-10-38          79.5     229.5      150.0          88.2    0.55       6.3
including          79.5     136.5       57.0          33.5    0.82      10.0
including         111.0     136.5       25.5          15.0    1.07      15.9
RSH-10-39(3)      148.5     225.0       76.5          48.1    0.73      10.6
including         148.5     180.0       31.5          19.8    1.01      15.7
RSH-10-40(3)       69.0     207.0      138.0          88.7    0.54      15.7
including         118.5     169.5       51.0          32.8    0.82      28.4
RSH10-41           60.0     133.5       73.5          47.2    0.46      10.4
RSH10-41          151.5     196.5       45.0          28.9    0.50       8.9
RSH10-42           82.5     174.0       91.5          60.0    0.52       5.5
including         103.5     130.5       27.0          17.7    0.92       3.9

1. Assuming vertical or near-vertical zone, perpendicular or near-
perpendicular to the plane defined by the drill hole 
2. Hole collared in mineralization 
3. Hole bottomed in mineralization 
4. Composite samples were sent for metallurgical testing, results are 
pending. 
5. Technical constraints precluded the advancement of the drill hole 
6. Mineralization in overburden

Main mineralized corridor extensions

Recent geophysical surveys conducted over the southeast portion of the Main mineralized corridor have mapped a 1,700-metre anomaly. This anomaly includes 900 metres of defined mineralization in the Moyan Alto zone and extends another 800 metres to the southeast in an area that has never been drill tested. In addition, to the northwest of the Main mineralized corridor, previous geological mapping and geochemical sampling conducted in 2007 identified a 1,600-metre gold-in-soil anomaly extending northwest from the West zone. The combined length of these potential gold-bearing extensions could increase the current mineralized strike length by approximately 60 per cent to 6.2 kilometres, from the current 3.8 kilometres. The company will look to test these new target areas during its current exploration program.

Metallurgical program

Sulliden has completed a metallurgical field sampling program, which consisted of eight large-diameter PQ (85-millimetre diameter) diamond drill holes taken along the strike length of the deposit and to full depth on the oxide mineralization to characterize the metallurgical response of the mineralized material throughout the depth of the deposit. The large-sized core will be used to determine the gold and silver recovery versus crush size for the various rock types. The metallurgical testwork is being conducted at Kappes, Cassiday & Associates in Reno, Nev., and will consist of rolling bottle cyanidation and column leach tests to characterize gold and silver recovery along with reagent consumption and other physical characterization work to assist in the design of the heap leach. Results from these tests will be used in the feasibility study currently under way.

New zone names

Sulliden has updated and simplified the names of the principle geological zones of the Main mineralized corridor to better reflect new geological understanding of the mineral deposit. The San Jose zone, and Porphyry zone have been combined to form the new West zone, and the previously named Gap zone and South zone will now be referred to as the Central zone. The East zone and Moyan Alto zone remain unchanged.

Mr. Amireault, PEng, 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.

We seek Safe Harbor.

8
Oct 04, 2010 07:33PM
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Oct 04, 2010 11:20PM
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