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Sultan Confirms Substantial Increase in Gold Resource at Kena
(via Thenewswire.ca) -Drill Inferred Resources grow to 1.399 million ounces, up 173% -M...
About this update from Apex Resources Inc.
[{"type":"text","content":"\nSultan Confirms Substantial Increase in Gold Resource at Kena\n\n(via Thenewswire.ca)\n\n \n-Drill Inferred Resources grow to 1.399 million ounces, up 173%\n\n\n \n-M&I Resources at 490,000 ounces\n\n\n \nVancouver, BC - April 11, 2013: Sultan Minerals Inc. (TSX-V: SUL; \"Sultan\") is pleased to announce that Sultan's Joint Venture Partner, Altair Gold Incorporated (TSX-V: AVX; \"Altair\") has reported the results of an updated resource estimate for the Kena gold project near the town of Nelson in southeastern British Columbia. This updated 2013 mineral resource estimate was derived from the incorporation of the 2012 drilling which successfully expanded the volume and continuity of the mineralized zones used in the 2012 resource estimate.\n\n \n \nThe new resource estimate includes a total of 25,280,000 tonnes at 0.60g/t gold in the Measured + Indicated (M&I) Resource categories, comprising 490,000 contained ounces of gold, while the Inferred Mineral Resource comprises 90,440,000 tonnes at 0.48g/t gold, for 1,399,000 contained ounces of gold. These figures were estimated using a 0.30g/t gold cut-off. \n\n \n \n \"The updated resource estimate on the Kena Project gives Altair excellent incentive for continued exploration of the newly modeled gold mineralization\", stated Altair's President & CEO, Fayyaz Alimohamed. \"We also intend to continue with evaluating the many other exciting targets on the project, such as the artisanal Euphrates mine which between 1928 and 1941 reportedly mined 307 tonnes at average grades of 46.91 g/t gold and 249.33 g/t silver\" (BC MINFILE DEPOSIT No 082FSW186).\n\n \n \nThe 2012 diamond drilling program was designed to infill the gold bearing trend along strike and to depth, and comprised 7,527 metres in 41 drill holes. To this point most drilling, and hence the resource estimate, is based upon the Gold Mountain Zone (GMZ), the Kena Gold Zone (KGZ), and the High Grade Zone (HGZ). \n\n \n \nThe 173% increase in the Inferred estimate is due to the extension of the mineralized Kena zone to the northwest by the results of the 2012 drilling. This extension has resulted in the interpreted connection of the KGZ and GMZ to collectively form what is referred to as the KGM Zone in the new geologic model. \n\n \n \nThe previous 2012 total M&I resources for the KGZ and GMZ comprised 549,000 con...