Santa Fe Metals-East Sully Target Drilling Expands
27 Maio 2014 - 9:00AM
Marketwired
Santa Fe Metals-East Sully Target Drilling Expands
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2014) -
Santa Fe Metals Corporation (TSX-VENTURE:SFM) ("SFM" or the
"Company") announces that drill hole SU14-08 has reached a
completion depth of 1,115-m. The Project Team has determined that
the large-scale East Target gravity mass is likely hosted in
stratigraphy immediately above the trace of the hole based on
interpretation of new geological and geophysical data (as shown on
the attached sketch; to view, please visit
http://media3.marketwire.com/docs/948263-F1.pdf).
Overturned Aldridge Formation Host Confirmed
DDH SU14-07 revealed that Aldridge Formation unit A1c is
probably host to the East Target gravity mass but that hole
continued through a repeating sequence of lower Aldridge rocks that
served to offset the target to the east with increasing depth. DDH
SU14-08 confirmed the presence of a large-scale vertical fault that
offsets an overturned fold sequence. That sequence is likely
further offset by low angle normal faults as interpreted in DDH
SU14-07. The net effect of this complex structural setting is that
the gravity mass target appears as a more moderately east dipping
feature than originally conceived. DDH SU14-08 was stopped because
it was unlikely to test the target until much greater depth.
Gravity Data and Geology Review
Updated gravity modeling using the latest geological
interpretation has provided new insights to the East Gravity Mass
size and its orientation. The target now resolves as a large-scale
mass dipping roughly 45-degress to the east, with a centroid depth
in the 800-m range as previously reported, but higher components to
it at a depth of 500 to 600-m west of the centroid. The Company's
geophysical consultants, Excel Geophysics Inc. have also estimated
that the gravity measurements suggest a mass in excess of 100 MT at
the East Target. To date nothing with sufficiently high specific
gravity has been intersected in any of the test holes to account
for the observed gravity response.
DDH SU14-09 Preparation Underway - Drilling to Commence
Wednesday
A drill hole completed in 2004 (DDH SU04-03) to a depth of 442-m
has been recently surveyed and is permitted for deepening. This
hole is at an excellent location to test the East Gravity Mass
Target as it is now modeled and the drill is being moved to this
collar location and will commence drilling by Wednesday May 28,
2014. The hole will be known as DDH SU14-09 and deepened by only
250-m to test the revised target volume immediately above DDH
SU14-08.
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 now estimated to come within
500-m of surface and extending to depth with an east dip of
approximately 45-degrees. Coincident magnetic anomalies reinforce
the positioning of the large-scale gravity masses. Management
believes the best explanation for the twin gravity anomalies is the
presence of two very large SEDEX massive sulphide bodies hosted in
lower Aldridge Formation rocks correlating to Sullivan Time.
The Sullivan Mine
Sullivan was discovered in 1892 and having produced roughly 160
million tons of ore 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.
and Brian Jones, P.Geo., both qualified persons 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
Santa Fe Metals CorporationScott E. Broughton, P.Eng.President
and CEO604.684.2900www.santafemetals.com
Santa Fe Metals Corporation (TSXV:SFM)
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