Santa Fe Metals-East Sully Target Drilling Paused
02 Giugno 2014 - 12:00PM
Marketwired
Santa Fe Metals-East Sully Target Drilling Paused
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 2, 2014) - Santa
Fe Metals Corporation (TSX-VENTURE:SFM) ("SFM" or the "Company")
announces that drill hole SU14-09 has reached a completion depth of
735-m. The project team has determined that the large-scale East
Target gravity mass is unlikely to be found on the drill hole's
current trajectory and observed geology.
The recent drill program has dramatically advanced understanding
of the geological setting at the Sully Project but it did not
discover massive sulphides. The Company remains attracted to the
targets because of compelling gravity and magnetic geophysical
targets coincident with Sullivan Time horizon. Further, no rocks
intersected in the drilling can account for the large-scale gravity
mass anomaly demonstrated by several geophysical surveys. As a
result, management believes the targets remain valid and highlights
there are many places within the geological volume that remain to
be tested by future drilling.
Drill holes SU14-06 to 09 have produced an abundance of core
that has been the subject of quick-logging and real-time assessment
enabling the project team to make rapid decisions while drilling.
The team has now elected to suspend drilling, complete
documentation and refine interpretation of all new geological
information. The work will be done over the next several weeks and
when completed the Company will announce its future plans for new
drilling and/or other exploration for the project, including the
East and West Targets.
Technical contents of the Sully Project disclosure in this
news release have been reviewed and approved by Paul Ransom,
P.Geo., a qualified person 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 |
Scott E. Broughton, P.Eng.President and
CEOwww.santafemetals.com604.684.2900
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