Seahawk

The first drill hole by Sulliden Exploration (SUE-T) at the Mario property, in the Peruvian department of Junin, has returned massive sulphide mineralization.

The drill hole, the first in a 7-hole campaign, tested a conductor defined in an earlier electromagnetic survey. The mineralized zone, 22 metres in core length, included a 15.4-metre section of massive pyrite, sphalerite and galena. Assay results are pending.

The new zone occurs where a dacite dome intrudes marble country rock, and has a similar setting to another mineralized zone, found by Cominco (CLT-T) on the margin of the same dacite body, about 500 metres to the northeast. That mineralization ran grades of 9.5% zinc and 6.6% lead, plus 629 grams silver per tonne, over a 3.9-metre length.

The same electromagnetic anomaly will be tested with two other drill holes, meant to cover a strike length of about 300 metres. Four more drill holes are to be sunk on structural extensions of the mineralized zone drilled by Cominco.

Sulliden optioned the property from Cominco in August and can earn a 100% interest by spending US$1.2 million on exploration over six years. Cominco, which retains a 2% net smelter return royalty, can back in for an interest of 51-60% by matching Sulliden’s expenses and taking placements of Sulliden shares.