2012 Assay Result Highlights
Assay results produced during 2012 provided the highest value results Carolay has yet produced. While low value assay results were also recorded the surprising number of high value results signal the potential for discovering rich mineralization at the Carolay Silver Polymetallic Property.
On March 2, 2012, Sunset Cove Mining reported assay results from the Carolay 4 vein channel samples that averaged 351.55 g/t of Silver. One sample from Carolay 4 showed an exceptional 4,694 g/t of Silver.
On July 9, 2012, Sunset Cove Mining reported assay results from two surface sample channels on the Vanessa Vein that averaged 312.77 g/t of Silver.
On October 30, 2012, Sunset Cove Mining reported on channel sample results from the Lindsay Structure and the two highest value samples came to 569 g/t of Silver and 1,308 g/t of Silver.
On Nov 21, 2012, Sunset Cove Mining reported on two high-grade channel samples results from the Maria Structure consisting of 1,165 g/t of Silver and 1,050 g/t of Silver.
Sunset Cove Mining
Sunset Cove Mining Inc., TSX-V: SSM, BVL: SSM is a junior mineral exploration and development company dedicated to driving shareholder value through the acquisition of mineral properties in proven Latin American locations.
The company’s strategy is to build value through the exploration and development of precious and base metal properties with excellent value potential to the point where they become attractive acquisitions or joint venture targets.
Our project generation strategy is based on acquiring properties in proven mining districts. We go to geological formations where proven mineral exploration and extraction success continues. This means that all of our projects are located near the necessary infrastructure of roads, water and electricity.
When we acquire a property for further exploration and development it is because we know it may have the potential to become a producing property based on what has been found on-site and in the inherent logic of regional geology. In addition, it must have the necessary infrastructure to support the establishment of a mining operation. This helps cut our lead time, shortening the time-frame for delivering shareholder value.
Sunset Cove sees junior mineral exploration as a financial play because the vast majority of the increase in shareholder value comes during the discovery phase. Sunset’s decision to capitalize on this by selling or joint venturing the property once ore bodies have been proved is designed to take advantage of that and deliver enhanced shareholder value.
The company was founded in 2008 by Lorne Woods and Marc Blais to take advantage of the mining and exploration opportunities available to them in Peru. Opportunities which Blais came to know about as a result of the contacts he made during his 17 years and counting in Peru.
Together Woods and Blais have 37 years of experience in managing mining companies and in the financing of private and public companies. Woods and Blais have access to a handpicked international network of private investors, brokers, portfolio managers and institutional funds.
Sunset Cove sees itself as partnering with Peru and has built an aggressive Peruvian subsidiary, Minera Sunset Del Peru S.A.C., to implement this strategy. To help ensure positive responsible community relations the company hires local labour and purchases as many goods and services on a local basis as possible, which in turn paves the way for positive community approval for our projects.
Our commitment to Peru can also be seen through our engagement of Peruvian mining professionals at our wholly owned Peruvian subsidiary which also provides us with a local advantage. Finally: the company is listed on the Peruvian stock exchange in order to make it easy for Peruvians to participate in the success of the company.
Our Peruvian team consists of a full time mining engineer and an experienced general manager who have extensive experience working with international and Peruvian mining companies. Together they have access to an established network rich in local knowledge and experienced in Peruvian production mining and exploration.
The company is constantly seeking properties which meet its strict economic criteria. Its flagship property is the Carolay Silver Polymetallic Property.
The mineralization found on the Carolay property and the adjacent Marañon sector fits into the model of polymetallic veins and is similar to that found in the highly prospective Coeur D’Alene Silver District in Idaho, which historically has produced more silver than any other Silver District in the U.S.
The Company’s NI 43-101 Technical Report on the Carolay Property, which now totals 19,484 hectares, demonstrates an economical grade of silver ore at 269 g/t Ag for the main Carolay vein. Samples taken from the 13 metre length of Carolay 4 show 351.55 g/t Ag and one sample shows 4,674 g/t Ag. We now believe the main Carolay vein extends for more than three kilometres.
During 2012 our advanced exploration and drilling campaign discovered 13 new mineralized structures and eight new silver bearing veins, a number of new geophysics anomalies, bringing the total to six anomalies and an additional six adits, bringing the number of known adits to seven. The number of adits, which are horizontal tunnels into the ore bearing rock are important for a number of reasons.
They indicate that Carolay was once the historic scene of professional mining activity that typically only harvested the low hanging fruit, rich veins of ore that surfaced and then were followed. Limited by the technology of the times, these historical workings imply the presence of more silver than was previously thought, like an iceberg, there is usually a lot more mineralization underneath than there is on the surface.
From a geological perspective the adits are a great aid to exploration because they allow us to follow and map the geological structure of Carolay more easily. Finally, the adits suggest that the main Carolay vein is much longer than was originally thought.
During 2013, Sunset Cove intends to focus on an advanced 3,000 to 10,000 metre diamond drilling and exploration campaign on the main Carolay Vein, Carolay 1 and the other six vein structures contained in Anomaly 1 to fully map Anomaly 1. The resulting data will be used to produce a NI 43-101 compliant Initial Resource Calculation.
The company will also continue our surface and adit sampling programs as well as more fully exploring the Maria and Lindsay structures where initial high value assay results have been reported. Sunset Cove also intends to conduct a geophysics study over an additional 1,600 hectares, claim additional land surrounding Carolay and enter negotiations for new projects.
All of Sunset’s existing and potential properties are or will be located near existing significant mining or exploration projects.
Sunset Cove Mining is a publicly traded Canadian Corporation listed on the Toronto Stock Exchange Venture Exchange: TSE-V: SSM, and on the Bolsa de Valores de Lima in Peru, BVL: SSM. The company is headquartered in Toronto, Ontario, with an office in Montreal. The company also has a wholly owned Peruvian subsidiary, Minera Sunset Del Peru S.A.C based in Lima.