Business
SULTAN MINERALS PROVIDES SHAREHOLDER UPDATE
Jun. 23, 2011 (TheNewswire.ca) -- June 23, 2011, Vancouver, BC - Sultan Minerals (TSXV:SUL) ...
About this update from Apex Resources Inc.
[{"type":"text","content":"\nSULTAN MINERALS PROVIDES SHAREHOLDER UPDATE\n\n Jun. 23, 2011 (TheNewswire.ca) -- June 23, 2011, Vancouver, BC - Sultan Minerals (TSXV:SUL) Inc. (SUL-TSX-V)(\"Sultan\") wishes to provide a review and update for its shareholders on its 2011 activities. Sultan is currently focused on planning for the exploration and development of its BC projects. Since the beginning of the year Sultan has obtained quotes from a number of engineering firms regarding project advancement and been in discussions with several companies who have executed confidentiality agreements. Management is reviewing all options that will be suitable and beneficial to Sultan and its shareholders.During Sultan's planning and discussion stages, global economic concerns and weaknesses in macro-economic data have resulted in a 23% decline in the Toronto Venture Exchange since early March, affecting all junior exploration companies. Despite this, the commodity markets (gold, copper, tungsten) in which Sultan has an interest in continues to be strong and Sultan's management remains committed to advancing and developing its projects. Sultan's Consultants are currently compiling and reviewing previous years exploration data and in the process of finalizing a recommendation report for the 2011 exploration season. In addition discussions are currently under way with several potential joint venture partners for both projects.Sultan has two advanced exploration projects in the Kootenay Region of southeastern BC. In 2009 and 2010 Sultan aggressively explored and expanded the two projects, both of which now have sizeable NI 43-101 compliant mineral resource estimates.Kena open pit gold-copper project:-381,000 ounces of gold measured & indicated @ 1.0 g/t and 0.5 g/t cut-off-389,000 ounces of gold inferred @ 1.0 g/t and 0.5 g/t cut-off-extensive untested drill ready copper and gold targets.Jersey-Emerald Tungsten-Zinc project:Tungsten Resource:-2,719,000 tons measured and indicated @ 0.358% WO3 and 0.15% WO3 cutoff.-2,320,000 tons inferred @ 0.341% WO3 and 0.15% WO3 cutoff.Zinc Resource:-1,900,000 tons indicated @ 6.06% combined lead-zinc and 3.5% cut-off grade.-4,980,000 tons inferred @ 5.32% combined lead-zinc and 3.5% cut-off grade.-extensive adjacent low grade tungsten, zinc, silver and molybdenum deposits and untested drill targets.Sultan has an experienced management tea...