Apr 25 2014
Santa Fe Metals Corp. announces that drill hole SU14-07 is now over 815-m deep and is continuing well on its planned trajectory to test the East sedimentary exhalative (SEDEX) target at the Sully Project.
Gravity surveying and interpretation suggests the depth of the top of the East Target is in the 800 to1,000-m range and based on current drilling performance that range will be tested in the coming days. A video presentation of the current geological model, including the geophysical targets and traces of historic drill holes can be seen at Sully Project Video.
The Sully Project
Sully is located near Fort Steele, 30-kilometres east of the world-famous Sullivan mine at Kimberley, B.C. The East target is one of two gravity mass anomalies estimated to come within 800 to 1,000-m of surface, and extending to depth. Coincident magnetic anomalies reinforce the positioning of the large-scale gravity masses at this depth and approximately 800m apart. Management believes the best explanation for the twin mass anomalies is the presence of two very large vertically oriented SEDEX massive sulphide bodies.
The Sullivan Mine
Sullivan was discovered in 1892 and is one of the largest silver-lead-zinc SEDEX deposits in the world. 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.