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Sunward Resources (TSXV: SWD) (“Sunward” or “the Company”) is pleased to announce that it has intercepted significant mineralization in the first-ever step-out drillhole on the western side of the Cerro Vetas zone, at its Titiribi project, Colombia. The Company recently began drilling the western side of the Cerro Vetas porphyry after geologic modeling and surface geochemistry suggested that the porphyry may extend in a westerly direction beyond the previously-identified resource envelope.
Drillhole CV040, collared some 200m to the west of the previous most westerly hole, confirmed the western extension of the mineralized zone, intercepting 274.6 metres of mineralization with a weighted average grade of 0.52 g/t gold and 0.26% copper, from 87.5 to 362.1 metres downhole depth. This includes a higher-grade zone of 49.5 metres averaging 0.86 g/t gold and 0.30% copper, from 158.5 to 208 metres downhole depth.
The above intercept occurs within a broader zone of copper-dominant mineralization, comprising 596.0 metres averaging 0.17% copper (with 0.31 g/t gold), from surface. This includes a higher-grade zone of 84.6 metres averaging 0.40% copper (with 0.40 g/t gold), from 182.9 to 267.5 metres downhole depth. This latter zone hosts the highest individual copper intercepts ever returned on the Titiribi project, including 1.69% copper (from 200 to 201 metres downhole depth) and 1.52% copper (from 251 to 251.8 metres downhole depth).
The western portion of the Cerro Vetas porphyry also appears to host stronger molybdenum mineralization than has been previously observed at the project. CV040 intercepted a zone of 294.5 metres averaging 0.0053% molybdenum, from 301.5 to 596 metres downhole depth.
Drillhole CV040 was collared on the southwestern portion of the surface-outcropping diorite porphyry mapped at the Cerro Vetas zone. The hole was drilled in a northwesterly direction at an azimuth of 322 degrees with a dip of -51 degrees. A complete map of drillholes can be viewed at www.sunwardresources.com and is also attached to this news release.
“This is the first drillhole completed thus far to test the near-surface porphyry on the western side of Cerro Vetas,” said Colin Andrew, Sunward’s Chief Executive Officer. “The results from this new sector of the mineralized body are extremely encouraging and suggest potential to add to the Cerro Vetas resource by extending mineralization further to the west.”
Based on the results from CV040, the Company is currently drilling holes CV041, CV042 and CV043 to the west and south-west of CV040 to further test this western extension of Cerro Vetas mineralization. (see map of drillholes at www.sunwardresources.com and as attached to this news release).
Hole CV039 was drilled approximately 150m further west of CV040 and cut minor mineralization over its entire length of 950m (drilled at an azimuth of 142 degrees and at a dip of -50 degrees). The hole cut the target horizon to the west-north-west of CV040. Best intervals returned included 35.35m @ 0.361 grams per tonne gold with 0.07 percent copper from 436.15m downhole; 16.5m @ 0.360 grams per tonne gold with 0.02 percent copper from 231.0m downhole and 5.2m @ and 1.204 grams per tonne gold with 0.27 percent copper from 345.1m downhole.
Colin Andrew, CEng MIMMM FGS, is a qualified person under National Instrument 43-101, and has reviewed and is responsible for the contents of this news release.
About the Titiribi Project:
The Cerro Vetas mineralized body at Sunward Resources’ Titiribi project hosts an inferred resource of 230 million tonnes at an average grade of 0.5 grams per tonne gold and 0.2 percent copper using a 0.3- gram-per-tonne-gold cut-off (NI 43-101 technical report dated May 19, 2010). The project is located approximately 70 kilometres southwest of the city of Medellin, Colombia, in Antioquia department, within the historical Titiribi mining district (estimated total gold production of three to five million ounces). Access is by paved highway from Medellin.
Mineralization at Titiribi is hosted within a number of porphyry stocks and porphyritic dikes and sills. The dominant mineral associated with mineralization is chalcopyrite, which occurs as disseminations and in veinlets. Plagioclase and secondary biotite are also significant within the mineralized assemblage. Mineralization appears to be related to extensive potassic alteration, with propylitic and argillic alteration also widespread, along with lesser phyllic alteration.
Over 50,000 metres of drilling has been completed at Titiribi to-date, including approximately 14,600 metres completed historically by previous operators, including Gold Fields and Windy Knob Resources, along with more than 40,000 metres completed by Sunward Resources. The mineralized body at Cerro Vetas remains open in all directions and at depth. Sunward Resources currently has four drill rigs operating to expand mineralization at the Titiribi project.
About The Company:
Sunward Resources is a well-capitalized Canadian-based company focused on the exploration of gold/copper porphyry projects in Colombia. The Company has strong operational expertise in Colombia and is currently drilling its Titiribi Project southwest of Medellin with a goal of increasing the NI 43-101 inferred resource.
