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Recent drilling results from Canadian miner Sulliden Gold's (TSX: SUE, OTC.QX: SDDDF) Shahuindo gold project in Peru indicate strong mineral resource growth potential, the company said in a release.
Intersections in the Central zone included 88.1m grading 2.12g/t, 119m of 0.94g/t and 116m of 0.54g/t.
In the Moyan Alto zone, results included 48m grading 1.24g/t and 55.5m of 0.72g/t.
The results are part of Sulliden's 30,000m program that began earlier this year. The company has exceeded that target since starting the campaign and will continue drilling for an additional week, the release said.
In 2011, Sulliden plans to spend about Cdn$15mn (same in US$) on a 70,000m drilling program and complete a bankable feasibility study for Shahuindo in the first half of the year.
A 2009 preliminary economic assessment estimated capital costs of US$89.4mn to build an open pit, heap leach oxide operation to produce 105,000oz/y gold equivalent for seven years.
To read the full results, go to this link