Click here to close now.


News Feed Item

Santa Fe Metals: Iron Range Project Target Ranking Study

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/23/14 -- Santa Fe Metals Corp. (TSX VENTURE:SFM) ("SFM" or the "Company") announces that a detailed Ranking Study of numerous target areas is well underway for the 680-km2 Iron Range Project, located 70-km south west of the Sullivan Mine at Kimberley, British Columbia. Because of its size and recognized potential for iron and other metals, Iron Range has had significant, but often-sporadic exploration campaigns since discovery in the 1890's.

Modern exploration including geological mapping, airborne geophysics, extensive geochemical surveys and diamond drilling has confirmed the property's great potential for base and precious metals. The Ranking Study is the first comprehensive and project-wide effort to compile and assess all past work and will ultimately lead to the definition of new drill targets in this prolific metal mining region.

Iron Range hosts the same stratigraphic rock assemblage as the historic Sullivan Mine, one of the largest sedimentary exhalative (SEDEX) silver-lead-zinc deposits in the world and it also encompasses 57-km of the regional-scale Iron Range fault complex. As a result, the property is very prospective for other base and precious metal deposit types. TerraLogic Exploration Inc. of Cranbrook, BC is completing the Ranking Study that has initially defined three prime areas for more detailed study. These high-priority areas have large-scale potential for metals because of their observed geological setting and now compiled exploration results, and include:

CAR Area

The CAR Area is a Sullivan-style SEDEX target with excellent access, located 7.5-km south of HWY 3. Importantly, a well-defined zone of Sullivan-style mineralized fragmentals within middle Aldridge Formation rocks are coincident with classic SEDEX alteration and anomalous lead and zinc mineralization. Exploration drilling in the CAR area provides stratigraphic information but newly identified mineralized trends have no drilling. Importantly, the Lower Middle Aldridge Formation Contact (LMC), which is also a target horizon and estimated to be at depths of 500-m in the southern part of the CAR Area, has never been tested south of HWY 3.

Canyon Area

The Canyon Area, located 2.5-km north of HWY 3, is a high-priority target for Sullivan-style SEDEX in addition to structurally-controlled base and precious metal mineralization. This area has had drill testing of large geochemical anomalies and has intersected Sullivan-style alteration coincident with LMC, both near and at distance to the Iron Range Fault. Important drill results have been recorded at the Talon Zone in 2010, including IR10-010, which intersected 14.0m grading 5.1 g/t gold, 1.86% lead, 2.1% zinc and 75.3 g/t silver. Hurried follow up drilling was conducted by others without geological interpretation, highlighting the need and opportunity for more thoughtful assessment of this area.

Golden Cap Area

The Golden Cap Area is an IOCG (Iron Oxide Copper Gold) exploration target located 13-km north of HWY 3, with good access. The area is characterized by the abundance of iron oxide mineralization and is coincident with a major offset of the Iron Range Fault. Intersecting large-scale structures create opportunities for structurally-controlled mineralization and the area has an extensive zone of hydrothermal brecciation and associated alteration. While exploring for iron-rich mineralization at the O-Ray zone in 2008, diamond drill hole IR08-006 intersected bonanza gold grades near surface, returning 51.52 g/t gold over 7.0-m. The Golden Cap area will be advanced by more systematic exploration to assess target deposit styles, controls on mineralization and to define drill targets.

Iron Range Summary

While notable exploration results at Iron Range indicate the potential to host large-scale SEDEX-style, IOCG and structurally-controlled base and precious metal mineralization, each of the priority areas defined by the Ranking Study requires greater geological interpretation to be properly advanced. Much of the exploration data is now in digital form and contained within a GIS database. The property has been expertly assembled into a contiguous package with many potential targets. More detailed geological mapping and ground proofing to be completed in 2014 will advance the three priority areas to the drill ready stage. Management believes this work will produce compelling new geological models and exciting drill targets.

A complete description of previous exploration results for Iron Range can be viewed at:

Update on Sully Project

SFM plans to re-commence drilling shortly at its Sully Project located near Fort Steele and 30 km east of the Sullivan Mine at Kimberley, BC. Sully hosts twin, large-scale, parallel geophysical targets that do not outcrop on surface. The 'blind' targets are well defined by detailed gravity surveys completed over much of the property and recent drilling is estimated to have come within 100-m of the East Target. Both targets are made compelling by coincident parallel magnetic anomalies, and the East Target is now known to coincide with equivalent Sullivan Time stratigraphy.

Management is excited about the Iron Range project's potential to host Sullivan-type massive sulphides, IOCG mineralization and bonanza-grade gold, and is committed to advancing exploration at both the Iron Range and Sully. Scott Broughton, President and CEO commented; "The Iron Range project demonstrably expands on the discovery potential for SFM in this prolific base and precious metal region of British Columbia."

Technical contents of the Iron Range Project disclosure in this news release have been reviewed and approved by Charles Downie, 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Scott E. Broughton, P.Eng., President and CEO

Santa Fe Metals Corp.
Scott E. Broughton, P.Eng.
President and CEO

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
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, will review the current landscape of...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll sha...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
There will be 20 billion IoT devices connected to the Internet soon. What if we could control these devices with our voice, mind, or gestures? What if we could teach these devices how to talk to each other? What if these devices could learn how to interact with us (and each other) to make our lives better? What if Jarvis was real? How can I gain these super powers? In his session at 17th Cloud Expo, Chris Matthieu, co-founder and CTO of Octoblu, will show you!
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
For almost two decades, businesses have discovered great opportunities to engage with customers and even expand revenue through digital systems, including web and mobile applications. Yet, even now, the conversation between the business and the technologists that deliver these systems is strained, in large part due to misaligned objectives. In his session at DevOps Summit, James Urquhart, Senior Vice President of Performance Analytics at SOASTA, Inc., will discuss how measuring user outcomes –...
As a company adopts a DevOps approach to software development, what are key things that both the Dev and Ops side of the business must keep in mind to ensure effective continuous delivery? In his session at DevOps Summit, Mark Hydar, Head of DevOps, Ericsson TV Platforms, will share best practices and provide helpful tips for Ops teams to adopt an open line of communication with the development side of the house to ensure success between the two sides.