Santa Fe Metals Corp.: Sully Update-Two (2) Large Scale SEDEX Targets Identified
02 Dicembre 2013 - 12:00PM
Marketwired
Santa Fe Metals Corp.: Sully Update-Two (2) Large Scale SEDEX
Targets Identified
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 2, 2013) - Santa
Fe Metals Corp. ("Santa Fe" or the "Company") (TSX-VENTURE:SFM)
announces that its Sully project team has now completed review of
all fieldwork results obtained in October and November 2013. That
work has led to the identification of two large scale, vertical and
parallel sedimentary exhalative (SEDEX) targets. Both the East and
West targets are located within the broad 4km x 3km Sully gravity
anomaly that has been the focus of exploration drilling to date.
The name of the property is derived from the world-class Sullivan
Mine SEDEX deposit, located at Kimberley, BC, 27km west of
Sully.
Geophysics Update
The Sully project is first and foremost a geophysical target.
Detailed gravity surveying over drill hole SU13-06 (and its
surrounds) in November, 2013 identified the two vertical targets
for the first time. The East and West masses clearly trend north -
south in a parallel configuration and have approximately 800m of
country rock between them. Both East and West targets are
interpreted to be present within 1,000m of surface and extend to
great depth to account for the calculated size of each mass. Both
masses are believed to be vertical, in part because of the gravity
response but also because of refinements to the geological model
and the property's structural setting described below. Further, it
is believed the parallel proximity of these two large masses served
to blur and obscure their occurrence, presenting as a single large
footprint in earlier gravity interpretations. Detailed analysis and
interpretation of Cominco's 1990 AeroMag data reveals magnetic
anomalies coincident (or overlapping) both East and West gravity
targets. Gravity and magnetics are very different geophysical
parameters; that both define two distinct and parallel sources
approximately 800m apart presents very compelling exploration
targets, neither of which have ever been tested by drilling.
Geological Model Refinements
Drill hole SU13-06 included sampling of over 100 oriented cores
revealing a surprising degree of uniformity from surface to over
1,500m depth. Structures observed in the drill hole are consistent
with a block-rotation model recently proposed by Paul Ransom,
P.Geo. That model is also currently being investigated through a
Geoscience BC-funded research project. The model suggests that
after folding and mountain building the northern Hughes Range
(including the Sully property) rotated almost 90 degrees such that
bedding is now steeply dipping and several faults that were once
near-vertical are now almost flat-lying.
The complex interplay of folding and faulting, and the
subsequent rotation are interpreted to have caused local repeats,
or en echelon recurring beds of the now vertical stratigraphy. This
concept provides a very useful explanation for the mechanical
evolution of the East and West masses. They may have been an
initially flat-lying SEDEX deposit that has been folded, faulted
into two large portions and ultimately rotated into the parallel
and proximal targets identified now by coincident geophysical
anomalies described above.
The Sully project is fully permitted, has good access from local
highways and can readily support year-round drilling programs. The
Company looks forward to recommencing the next phase of drilling at
Sully early in the New Year.
Sullivan Mine Legacy
Sullivan was discovered in 1892 and is known to be one of the
largest SEDEX deposits in the world. Over its 100-year lifetime,
Sullivan produced almost 300 million ounces of silver, 17.5 billion
pounds of zinc and 18.5 billion pounds of lead, and other metals
collectively worth over $45-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.
This news release has been reviewed and approved by Paul Ransom
P.Geo. who is defined as a qualified person in accordance with
National Instrument 43-101.
This news release contains forward-looking statements,
including statements relating to the Company's future plans and
objectives with respect to the exploration of the Sully Property.
Forward-looking statements are based on numerous assumptions and
are subject to all of the risks and uncertainties inherent in the
Company's business, including risks inherent in resource
exploration and development. There can be no assurance that planned
exploration will be completed as proposed or at all, or that
economic resources will be discovered or developed at the Sully
Property.
Scott E. Broughton, P.Eng., President and CEO
Santa Fe Metals Corp.Scott E. Broughton, P.Eng.President and
CEO604.684.2900sbroughton@santafemetals.com
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