Welcome!

News Feed Item

Santa Fe Metals: East Sully Target Pinpointed

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/03/14 -- Santa Fe Metals Corporation (TSX VENTURE:SFM) ("SFM" or the "Company") announces that its Sully project team has completed a detailed review of new gravity survey data and core drilled in 2014 at the East Target. The month-long program highlights that drill hole SU14-09 likely passed within 100-m of the large-scale East mass and has brought the target's geometry into sharper definition. Based on the recent comprehensive data review, SFM will remobilize a drill to the project site to pinpoint the East target with DDHSU14-10 as soon as possible.

East Sully Target Highlights

--  Detailed logging of 2,697-m of core has confirmed Sullivan-time
    equivalent stratigraphy 
--  Geological interpretation shows potential for a large-scale SEDEX
    deposit was subjected to post depositional folding, tectonic thickening
    and faulting 
--  An additional 150 gravity measurements has further defined the East
    target's complex geometry and re-confirms an estimated mass in excess of
    100 Million tonnes 
--  Down hole temperature and magnetic measurements observed in DDH SU14-09,
    in addition to the new gravity data indicates the hole passed within
    100-m proximity of the East Target 
--  Both East and West gravity masses have near-coincident deep mag
    anomalies 
--  An historic zinc and lead soil geochemistry anomaly above and east of
    the East gravity target remains 'open' to the west 
--  In nine drill holes completed since 2004 none of the intersections can
    account for the Sullivan-size gravity anomaly

Geophysical Update

The Sully project has been the focus of several gravity survey campaigns, all providing increased resolution and clarity of the target(s) over time. Current interpretation shows East and West Targets, trending north-south and occupying a greater than 2-km diameter footprint, as shown on Figure 1. A cross-section through the anomalies also shows a separation of roughly 800-m within which some of the project's earliest deep drilling was undertaken. No intersections in any drilling to date can account for the gravity mass measurements or large-scale anomalies observed.

In June 2014, Excel Geophysics Inc. completed an additional 150 gravity stations over the East Target to further refine its gravity profile. That work revealed the mass has greater complexity than previously expected. Detailed interpretation of the East mass dataset shows two aligned cntres that are either separated or joined by a thin zone. Drilling to date came very close to the edge of this irregular mass. Down hole temperature and magnetic field readings in DDH SU14-09 also suggest proximity to massive sulphides, as shown in Figure 2.

The gravity targets are reinforced by the presence of near-coincident magnetic anomalies, shown on Figure 2. The filtered deep anomalies also trend north-south and broadly overlap the gravity footprint. These otherwise completely unrelated datasets highlight possible associated pyrrhotite-rich zones and suggest potential for massive base metal sulphide SEDEX horizons within the assemblage.

Brian Jones, P.Geophys., President of Excel Geophysics stated, "The Sully gravity anomaly is an impressive exploration target. The gravity anomaly is just under 1.0 mGal in amplitude, which is large compared to the possible sources of error. The mass of the high density sulphide that can account for the measured gravity over the East anomaly is in excess of 100 million tonnes".

Geological Update and Interpretation

SFM has completed 2,697-m of new drilling utilizing oriented core techniques and down hole surveys that provide temperature measurements and magnetic field readings. Paul Ransom, P.Geo. has carried out detailed logging and a review of all core collected and has also re-visited selected intervals from drill holes finished in 2004, 2012 and 2013 to complement the developing geological model.

The structural model of the East target has evolved to become increasingly complex as a result of the new information. In addition to deep offsetting low angle normal faults and steeply dipping normal faults, several zones of locally intense folding are observed. The current geologic interpretation is presented in cross section on Figure 3 and indicates post depositional folding, thickening and faulting of the mass. Tectonic thickening like this has been observed at many other massive sulphide deposits around the world, including Sullivan. The cross section is a projection of drill holes and surface information over a one-km width. Therefore, the actual distance between individual drill holes, the target and other geological features is variable, however it appropriately shows that the East Target and its mass can be readily accommodated in the 3-dimensional volume under the observed gravity anomaly.

The volume of rock tested by drilling to date is enormous and the potential to host the target mass can easily be contained within it. As drilling has progressed over time the model has developed to a point where other historic observations may become important. Among those is the presence of anomalous zinc and lead in surface soil geochemistry surveys above and to the east of the mass, as shown on Figure 2. The geochemical anomaly is 'open' to the west highlighting a zone where the target horizon may extend to surface.

Exploration Plan

The Company's focus in 2014 has been the East Target, selected initially for its large-scale and ease of drilling from established collar locations using techniques perfected to minimize hole deviation. Based on the results of the new geophysical work and updated geological model, the Company will re-mobilize a drill to the site to commence DDH SU14-10 shortly (see Figure 3). The planned hole is expected to test the target at less than 500-m in depth and will be aimed toward the gravity centre north of the section. The West Target also remains extremely compelling - additional gravity survey work will be undertaken to provide a more detailed profile of that mass in order to design the most effective drilling plan.

Paul Ransom, P.Geo, Sully Project Manager stated, "The Sully Project presents one of the best exploration targets of Sullivan size that I have seen in my career. Located at equivalent Sullivan-time stratigraphy where successive gravity surveys continue to confirm and refine Sullivan-scale masses and combine to make this a compelling exploration program. The East target has recently shown us more complexity than originally imagined, but not unusually so for this target type. Having completed a pragmatic exploration drilling program to date, we have now pinpointed the best location to pierce the East mass target".

The Sully project

Sully is located near Fort Steele, 30 kilometres east of the Sullivan mine at Kimberley, B.C. and within the same large geologic basin that is prospective for one of the world's mega-, but also several smaller, SEDEX deposits. The East mass is located at the same stratigraphic position equivalent to Sullivan Time with observed lead and zinc mineralization in drill core, outcrop and soils. Further, the large-scale gravity mass anomalies are near coincident with deep magnetic anomalies. Management believes the best explanation for the twin mass anomalies is the presence of two very large and structurally complex SEDEX massive sulphide bodies yet to be discovered by drilling. The last hole completed DDHSU14-09 is estimated to have come within 100-m of the massive sulphide target and new, more detailed gravity surveying has helped to pinpoint the location and likely shape of the East Target.

The Sullivan mine

Sullivan was discovered in 1892 and is one of the world's mega silver-lead-zinc SEDEX deposits. Over its roughly 100-year lifetime, Sullivan produced almost 300 million ounces of silver, 36 billion pounds of lead and zinc, plus smaller amounts of other metals, collectively worth over $40-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.

Technical contents of the Sully Project disclosure in this news release have been reviewed and approved by Paul Ransom, P.Geo., and Brian Jones, P.Geophys., both qualified persons as defined by National Instrument 43-101.

To view the accompanying figures, visit the following link:

http://media3.marketwire.com/docs/Sully_News_03JUL14_Figures.pdf

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contacts:
Santa Fe Metals Corporation
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
When applications are hosted on servers, they produce immense quantities of logging data. Quality engineers should verify that apps are producing log data that is existent, correct, consumable, and complete. Otherwise, apps in production are not easily monitored, have issues that are difficult to detect, and cannot be corrected quickly. Tom Chavez presents the four steps that quality engineers should include in every test plan for apps that produce log output or other machine data. Learn the ste...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Machine learning provides predictive models which a business can apply in countless ways to better understand its customers and operations. Since machine learning was first developed with flat, tabular data in mind, it is still not widely understood: when does it make sense to use graph databases and machine learning in combination? This talk tackles the question from two ends: classifying predictive analytics methods and assessing graph database attributes. It also examines the ongoing lifecycl...