VANCOUVER, Feb. 17 /CNW/ - Sunward Resources ("Sunward" or "the
Company") (TSXV: SWD) today announced that drilling has commenced at
the La Candela and Porvenir targets at the Titiribi Project in
The La Candela target is situated approximately one kilometer south of
the Cerro Vetas mineralized body and is defined by coincident air-mag
and gold in soil anomalies. The target was drilled in 2008-2009 by a
previous operator who reported a hole grading 0.41 g/t gold over 46
metres (Windy Knob Resources Quarterly Activities Report dated January
16, 2009). Sunward has redefined the target with a detailed
compilation and reinterpretation of preexisting and new geological and
The Porvenir target is approximately 2 kilometres south-southeast of the
Cerro Vetas mineralized body and is also defined by coincident air-mag
and gold in soil anomalies. The geochemical characteristics of the
Porvenir target are very similar to Cerro Vetas. The Porvenir target
is also situated on the same north-northwest / south-southeast striking
regional lineament that hosts the Cerro Vetas mineralized body and
possibly other porphyry bodies in the Mid-Cauca belt.
Please visit http://www.sunwardresources.com/links/titiribimaps.php for more information on the La Candela and Porvenir targets.
Jonathan Challis, FIMMM, is a qualified person under National Instrument
43-101, and has reviewed and is responsible for the contents of this
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
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 41,000 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 26,400 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.
This news release contains "forward-looking information", which may
include, but is not limited to, statements with respect to the future
financial or operating performance of Sunward Resources Ltd. and its
projects. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Sunward Resources Ltd.
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Forward-looking statements contained herein are made as of the date of
this press release and Sunward Resources Ltd. disclaims, other than as
required by law, any obligation to update any forward-looking
statements whether as a result of new information, results, future
events, circumstances, or if management's estimates or opinions should
change, or otherwise. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, the reader is cautioned not to place undue
reliance on forward-looking statements.
Neither 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 release.
SOURCE Sunward Resources Ltd.
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