Sulliden Mining Capital Inc. (Smc: TSX) Announces 52.4 M at 1.14 G/T GOLD Equivalent Adjacent to Eldorado’S Triangle MINE ON Its 100% Owned East- Sullivan Formerly Producing Property
SULLIDEN MINING CAPITAL INC. (SMC: TSX) ANNOUNCES
52.4 M AT 1.14 G/T GOLD EQUIVALENT ADJACENT TO
ELDORADO’S TRIANGLE MINE ON ITS 100% OWNED EAST-
SULLIVAN FORMERLY PRODUCING PROPERTY
Press Release – February 24, 2021
Toronto, Ontario, Canada
Highlights include:
• 52.4 m at 0.45% Cu and 0.44g/t Au, or 1.14 g/t Au EQ
• 20.2 m at 0.66% Cu and 0.40 g/t Au, or 1.43 g/t Au EQ
• 9.0 m at 0.95% Cu and 0.14 g/t Au, or 1.62 g/t Au EQ
Sulliden Mining Capital Inc. (“Sulliden” or the “ Company”) (TSX: SMC) is pleased to announce
the results of its 2019 and 2020 drilling campaign s on its 100% owned East -Sullivan property
(the “Property”). The Property is located in the heart of one of the most prolific gold and copper
greenstone belts in the world, which is within the historical minin g camp of Val -d’Or, Quebec,
Canada. The Property is adjacent to and less than 2 km away from Eldorado Gold Corp. ’s
Lamaque mining operation (Triangle zone, Figure 1) . Note that Eldorado has entered into a
definitive arrangement agreement pursuant to which it is expected that Eldorado will acquire
100% of QMX Gold Corp. (“QMX”), which owns properties directly north of the Property (see
QMX’s press release dated January 21, 2021). QMX reports an indicated mineral resource of 397
KOz at an average grade of 1.67 g/t Au (see QMX’s press release dated December 2, 2020).
The Property also hosts the former East -Sullivan mine, a major producer that operated from
1949 to 1966. Ore was historically mined from a multi-lens, polymetallic base metal deposit (Cu,
Zn, Au, Ag, ±Pb) and past production amounted to 14,968,918 tonnes at an average of 1.05% Cu,
0.78% Zn, 0.38 g/t Au and 10.63 g/t Ag according to the compilation of yearly production figures
produced by the Department of Mines of the Province of Quebec.
SULLIDEN MINING
Figure 1. Claim map showing the Property, drill hole locations and neighboring claim positions.
Note the underground extension of the Triangle operation in dashed line.
Drilling on the Property was conducted in two phases:
1- In September 201 9, Sulliden completed drill holes SU-19-001 and SU -19-002 to tes t the
eastern extension of the East -Sullivan past producing mine. Both SU -19-001 and SU-19-
002 intersected mineralization. Highlights are 52.4 meters grading 0.45% Cu and 0.44
g/t Au for the first hole, and 20.2 meters grading 0.66% Cu and 0.4 g/t Au for the
second hole (Table 1).
2- In October 2020, drill holes SU -20-001 and SU-20-002 tested a magnetic anomaly at the
western contact of the East -Sullivan pluton and the western extension of the East-
Sullivan past producing mine, respectively. Drillhole SU -20-002 intersected 9 meters
averaging 0.95% Cu and 0.14 g/t Au (Table 1).
Drill hole coordinates and locations are shown in Table 2 and Figure 1.
A compilation of surface and underground dr ill data respecting the former East-Sullivan mine
was completed in 2020, which lead management to a better understanding of mineralization
trends and controls. The eastern extension of the mineralization straddle s the East -Sullivan
pluton contact oriented N50E, whereas the w estern extension is oriented east -west. The true
thickness of the mineralized drill intervals could thus be estimated and is reported in Table 1.
Table 1: Drill hole mineralized intersections
Drill Hole From
(m)
To
(m)
Width
(m)
Estimated
True Width (m)
Cu (%) Au
(g/t)
SU-19-001 344.0 396.4 52.4 16.2 0.45 0.44
SU-19-001 411.1 420.0 8.9 2.8 0.38 0.22
SU-19-002 426.0 446.2 20.2 10.2 0.66 0.40
SU-19-002 464.0 474.8 10.8 5.5 0.55 0.17
SU-19-002 494.0 522.0 28.0 14.2 0.44 0.09
SU-20-001 - - - - - -
SU-20-002 459.0 473.0 14.0 7.0 0.69 0.12
Incl. 464.0 473.0 9.0 4.5 0.95 0.14
Table 2 : Drill hole coordinates
Drill Hole E_MTM83 N_MTM83 Elevation (m) Length (m) Azimuth Dip
SU-19-001 214918 5326304 317 420 003 -65
SU-19-002 214892 5326689 320 522 168 -55
SU-20-001 214423 5326067 320 567 136 -75
SU-20-002 214251 5326630 322 524 185 -60
“The recent exploration campaign delivered positive results and ex citing news for Sulliden ,”
stated Stéphane Amireault, a consultant and member of the board of dire ctors of Sulliden. He
continued, “It confirms the potential of the Property and potential extensions around the past
producing East-Sullivan mine.”
“We are bullish o n the price of both copper and gold, and we believe recent market actio n
suggests that we may be i n for a strong market in precious and base metals. Many mines are
discovered in the “shadow” of existing mines, and this may be no exception. With excellent
infrastructure in place, we are optimistic that we could have an exciti ng project here. W e have
an excellent track record of discovering and developing mines, including the Shahuindo mine in
Peru (which is producing over 200,000 ounces of gold per year a nd was sold to Pan American
Silver Corp.) and the Troilus mine, now in an advanced developm ent stag e in Chibougamau,
Quebec,” said Stan Bharti, CEO of Sulliden.
Qualified Person
The technical and scientific content of this news release has been prepared , reviewed and
approved by Mr. Stéphane Amireault. P.Eng., M.Sc.A. , who is a qualified person defined by
National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Quality Assurance/Control
Sulliden operates its exploration programs according to industry best practices and employs
rigorous quality assurance and quality control pro cedures. All results are based on half -core
samples of NQ-size diamond drill c ore. In 2019, samples were prepared and assayed at AGAT
Laboratories in Val -d’Or. The assay results for Cu, Zn, Pb, and Ag are obtained from an Agua
Regia digestion and ICP-AAS finish. In 2020, samples were prepared and assayed at ALS Chemex
Laboratories in Val-d’Or. The assay results for Cu, Zn, Pb, and Ag are obtained from a four acid
digestion and ICP-MS finish. All Au assays for the 2019 and 2020 drill programs are based on fire
assay analysis of a 30 g charge followed by an atomic absorption finish. Certified standard
reference materials, field duplicate and blank samples were inserted regularly and were closely
monitored to ensure the quality of the data.
About the East-Sullivan Property:
The East -Sullivan property is located 5 kilometers to the southeast of the city of Val -d’Or. It
contains the former East -Sullivan polymetallic deposit that produced 14,968,918 tonnes of ore
at an average of 1.05% Cu, 0.78% Zn, 0.38 g/t Au and 10.63 g/t Ag from 24 lenses starting from
surface and extending to a vertical depth of 930 meters. Mineralization consists of sulphide
dissemination, sulphide stringers, as well as semi -massive and massive zones characterized by
chalcopyrite, sphale rite, py rrhotite, and pyrit e hosted in altered volcanic rock units. The
Property also hosts a structurally controlled gold zone, located 750 meters to the east of a
former mine . Historical drillholes revealed shear hosted quartz veining measuring up to 6
meters thick.
About Sulliden
Sulliden is a venture capital company focused on acquiring and advancing brownfield,
development-stage and early production-stage mining projects in the Americas.
For more information, please contact:
Stéphane Amireault
Director
Cautionary statement regarding forward-looking information
This press release contains "forward -looking information" within the meaning of applicable
Canadian s ecurities legislation. Forw ard-looking information includes, without limitation,
statements regarding the Company’s future plans, operations and activities, projected
mineralization, predictions with respect to precious and base metal markets, and the abil ity of
the Company to execute its business plans. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those expressed or
implied by such forward -looking information, including risks inherent in the mining industry and
risks described in the public disclosure of the Company which is available under the profile of the
Company on SED AR a t www.sedar.com and on the Company's website at www.sulliden.com.
Although the Company has attempted to identify important factors that could cause actual
results to differ mater ially from those co ntained in forward -looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual resul ts and futur e events
could diff er mater ially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward -looking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX nor its Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this release.