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Last updated on April 24, 2014 at 11:24 EDT

Sunward drills 121.6 metres grading 0.70 grams per tonne gold at Chisperos

April 2, 2012

Discovery of additional new porphyry gold-copper body at Chisperos

Infill drilling at Cerro Vetas returns 189.9 metres from surface
averaging 0.782 grams per tonne gold equivalent

VANCOUVER, April 2, 2012 /PRNewswire/ – Sunward Resources Ltd. (“Sunward” or the “Company”) (TSX: SWD; OTCQX: 
SNWRF)
is pleased to announce further successful results from drilling at the
Chisperos zone and the ongoing resource infill drill program at the
Cerro Vetas zone at the 100%-owned Titiribi Project (“Titiribi” or the
“Property”), located approximately 70 kilometers southwest of Medellin,
Colombia. Eleven drill rigs have been operating on the Property on a
round-the-clock basis since November 2011, with results to date
suggesting considerable expansion and enhancement of the known
mineralized bodies at these zones, which currently host an NI 43-101
compliant Indicated Mineral Resource of 2.2 million ounces gold (within
142.94 million tonnes grading 0.480 grams per tonne gold and 0.148%
copper, using a 0.3 grams per tonne gold cut-off), along with an
additional Inferred Mineral Resource of 6.08 million ounces gold
(within 372.7 million tonnes grading 0.507 grams per tonne gold and
0.078% copper, using a 0.3 grams per tonne gold cut-off; see Report
dated September 2011 available at www.sunwardresources.com and on SEDAR).

“The discovery of a new gold-copper porphyry target at Chisperos is
further evidence of the extensive mineral endowment of Titiribi,” said
Colin Andrew, Sunward’s President and Chief Executive Officer. “These
significant drill results, coupled with the proximity of this zone to
the more substantial Cerro Vetas zone, open up important scale-related
opportunities at Titiribi which is emerging as one of the most
significant gold-copper districts in the world. The recent infill
drilling campaign at Cerro Vetas provided strong support for potential
optimization of mining operations.  The drill hole CV062, which
returned 189.90 metres from surface averaging 0.512 grams per tonne
gold and 0.141% copper, or 0.782 grams per tonne gold equivalent, and
added to earlier drilling in this area, will be particularly important
when Sunward commences work on the economic aspects of Titiribi.”

The holes reported in this news release represent a portion of the
currently-budgeted 40,000-metre drill program. Assays from further
holes will be released as they become available.

CHISPEROS ZONE

Recent drilling at the Chisperos zone was designed by Sunward to test a
number of new geological interpretations for the mineralized body here,
following the discovery of epithermal mineralization containing free
native gold, often as laminae within hairline banded chalcedony
veinlets. The Chisperos zone is of particular interest given that
earlier reported metallurgical testwork has demonstrated that greater
than 80% of the gold here can be recovered by simple gravity methods.

Recent drilling guided by the new geological model for Chisperos has
been successful in identifying longer and higher-grade mineralized
intercepts than previously observed for this zone. Best intercepts from
the recent drill program include 121.6 metres averaging 0.701 grams per
tonne gold from 28.0 metres downhole depth in drillhole CP014; 62.66
metres averaging 0.621 grams per tonne gold in drill hole CP015 from
43.2 metres downhole depth; 41.7 metres averaging 0.762 grams per tonne
gold in drill hole CP017 from 120.8 metres downhole depth along with
35.65 metres averaging 0.931 grams per tonne gold from 524.55 metres
downhole depth. Significantly, the free gold mineralization at
Chisperos often returns higher assay values when analyzed by metallic
screen methodologies, with previous check assays having generally shown
increased average gold values of up to 20%. The results of such screen
assaying for recent drill holes will be reported once available.

In addition to the epithermal mineralization typical of Chisperos,
recent drilling was successful in intersecting a new porphyry target,
with a number of holes returning significant levels of copper sulphide
mineralization. Hole CP024 intersected a dioritic intrusive carrying
porphyry gold-copper mineralization, returning 59.8 metres assaying an
average of 0.315 grams per tonne gold and 0.104% copper from 177.2
metres downhole depth.  Similar mineralization in hole CP026 where 20.3
metres averaging 1.076 grams per tonne gold and 0.105% copper from
700.7 metres was also intersected.

     ___________________________________________________________________
    |Hole #|Azimuth|Incl.| From |   To  |  Int |Au g/t|Cu % | |Au Eq g/t|
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP014 |   205 | -50 |28.00 |149.60 |121.60|0.701 |0.016| |   0.732 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |415.97|432.50 |16.53 |0.403 |0.035| |   0.470 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |471.00|475.50 | 4.50 |1.289 |0.063| |   1.410 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |531.00|542.55 |11.55 |0.551 |0.031| |   0.610 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP015 |   205 | -50 |43.20 |105.86 |62.66 |0.621 |0.014| |   0.648 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |140.60|183.10 |42.50 |0.477 |0.012| |   0.500 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |198.69|205.00 | 6.31 |2.858 |0.014| |   2.885 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |393.60|418.20 |24.60 |1.017 |0.034| |   1.082 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |481.50|495.10 |13.60 |0.786 |0.060| |   0.901 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |511.30|522.60 |11.30 |0.395 |0.031| |   0.454 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |543.00|553.80 |10.80 |0.461 |0.033| |   0.524 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP016 |   205 | -50 |71.90 | 78.60 | 6.70 |0.376 |0.006| |   0.388 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |150.24|174.30 |24.06 |0.404 |0.016| |   0.435 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP017 |   205 | -50 |57.80 | 74.00 |16.20 |0.403 |0.009| |   0.420 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |120.80|162.50 |41.70 |0.762 |0.014| |   0.789 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |267.50|281.87 |14.37 |0.440 |0.017| |   0.473 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |497.00|510.50 |13.50 |0.481 |0.029| |   0.537 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |638.00|656.00 |18.00 |0.366 |0.030| |   0.424 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP018 |   205 | -50 |28.35 | 41.85 |13.50 |0.628 |0.006| |   0.640 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP019 |   205 | -52 |42.70 | 62.70 |20.00 |0.568 |0.016| |   0.599 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |163.00|178.20 |15.20 |0.634 |0.014| |   0.661 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |225.35|235.85 |10.50 |0.794 |0.029| |   0.850 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |526.80|555.30 |28.50 |0.518 |0.038| |   0.590 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |562.80|582.00 |19.20 |0.344 |0.027| |   0.396 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |594.00|604.50 |10.50 |0.415 |0.013| |   0.440 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP020 |   205 | -51 |Assays awaited|      |      |     | |         |
    |______|_______|_____|______________|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP021A|   205 | -62 |Assays awaited|      |      |     | |         |
    |______|_______|_____|______________|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP022 |   205 | -50 |Assays awaited|      |      |     | |         |
    |______|_______|_____|______________|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP023 |   205 | -50 |84.30 | 97.80 |13.50 |0.338 |0.005| |   0.348 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |524.55|560.20 |35.65 |0.931 |0.020| |   0.969 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP024 |   205 | -52 |177.20|237.00 |59.80 |0.315 |0.104| |   0.514 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CP026 |   205 | -49 |580.00|588.60 | 8.60 |0.559 |0.020| |   0.597 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |636.00|681.00 |45.00 |0.368 |0.075| |   0.512 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |700.70|721.00 |20.30 |1.076 |0.105| |   1.277 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |Gold Equivalents calculated using a price ofAu at US$ 1,114 per Toz|
    |                     and Cu at US$ 3.07 per lb                     |
    |___________________________________________________________________|

Note:   Cut-offs stated at 0.3 grams per tonne gold

CERRO VETAS ZONE

In the Cerro Vetas zone, recent drilling has been successful at
infilling gaps within the existing drill pattern and also continuing to
explore the south-eastern fringe of the porphyry body. Highlights of
the latest drill holes are as below.

Drill hole CV061 encountered a sequence of brecciated basic metamorphics
containing strong mineralization and returned 270.0 metres averaging
0.479 grams per tonne gold and 0.257% copper (0.972 grams per tonne
gold equivalent), from 464.5 metres downhole depth.

Drill hole CV062 intersected multiple mineralized sections including
189.9 metres from surface averaging 0.512 grams per tonne gold and
0.141% copper (0.782 grams per tonne gold equivalent) within dioritic
intrusives, and a further intersection of 132.5 metres (from 558.0
metres downhole depth) within metabasalts and breccias averaging 0.468
grams per tonne gold and 0.192% copper (0.836 grams per tonne gold
equivalent) along with several narrower, but significant,
intersections.

Drill hole CV065 intersected 132.3 metres from near surface (2.1 metres
downhole depth) averaging 0.425 grams per tonne gold and 0.189% copper
(0.787 grams per tonne gold equivalent) within several sills and dykes
of diorite cutting hydraulically fractured breccias.

Drill hole CV066 intersected multiple mineralized sections within
diorites and associated intrusive breccias including 266.7 metres (from
181.3 metres downhole depth) averaging 0.416 grams per tonne gold and
0.234% copper (0.865 grams per tonne gold equivalent) and a further
intersection of 176.8 metres (from 459.2 metres downhole depth)
averaging 0.640 grams per tonne gold and 0.196% copper (1.016 grams per
tonne gold equivalent) with a further intersection of 69.6 metres (from
817.0 metres downhole depth) averaging 0.558 grams per tonne gold and
0.027% copper (0.610 grams per tonne gold equivalent).

Drill hole CV069 returned 145.0 metres averaging 0.465 grams per tonne
gold and 0.153% copper (0.758 grams per tonne gold equivalent) from
285.5 metres downhole depth through a sequence of diorites and dioritic
intrusive breccias, amongst additional mineralized intersections within
potassic-altered diorites.

A complete table of intercepts for recent drilling at Cerro Vetas is
included below. A map of these drill hole locations can be found at www.sunwardresources.com.

     ___________________________________________________________________
    |Hole #|Azimuth|Incl.| From |   To  |  Int |Au g/t|Cu % | |Au Eq g/t|
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV059 |   322 | -50 |320.60|343.10 |22.50 |1.047 |0.034| |   1.112 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |415.70|444.50 |28.80 |0.412 |0.042| |   0.493 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV060 |   142 | -55 | 0.00 | 53.80 |53.80 |0.305 |0.140| |   0.573 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV061 |   142 | -55 |464.50|734.50 |270.00|0.479 |0.257| |   0.972 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |863.50|875.50 |12.00 |4.566 |0.047| |   4.656 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV062 |   322 | -54 | 0.00 |189.90 |189.90|0.512 |0.141| |   0.782 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |222.70|240.50 |17.80 |0.394 |0.063| |   0.515 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |422.85|438.60 |15.75 |0.727 |0.089| |   0.896 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |465.10|516.15 |51.05 |0.345 |0.177| |   0.684 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |558.00|690.50 |132.50|0.468 |0.192| |   0.836 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV063 |   321 | -50 |322.10|403.50 |81.40 |0.301 |0.175| |   0.637 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV064 |   230 | -60 |Assays awaited|      |      |     | |         |
    |______|_______|_____|______________|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV065 |   142 | -58 | 2.10 |134.40 |132.30|0.421 |0.188| |   0.776 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV066 |   322 | -50 |181.30|448.00 |266.70|0.416 |0.234| |   0.865 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |459.20|636.00 |176.80|0.640 |0.196| |   1.016 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |817.00|886.60 |69.60 |0.558 |0.027| |   0.610 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV067 |   228 | -84 |Assays awaited|      |      |     | |         |
    |______|_______|_____|______________|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV068 |   142 | -51 |103.40|113.00 | 9.60 |0.306 |0.167| |   0.626 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |145.50|151.50 | 6.00 |0.752 |0.135| |   1.011 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |210.00|235.00 |25.00 |0.870 |0.165| |   1.186 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |269.00|307.50 |38.50 |0.337 |0.135| |   0.596 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |321.00|351.85 |30.85 |0.313 |0.121| |   0.545 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |674.80|701.00 |26.20 |0.342 |0.124| |   0.580 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |723.00|731.00 | 8.00 |0.319 |0.088| |   0.488 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |776.00|827.00 |51.00 |0.549 |0.087| |   0.716 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       |     |      |       |      |      |     | |         |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |CV069 |   142 | -51 |42.00 | 84.00 |42.00 |0.399 |0.117| |   0.623 |
    |______|_______|_____|______|_______|______|______|_____|_|_________|
    |      |       and   |96.50 |149.50 |53.00 |0.432 |0.129| |   0.679 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |160.00|217.50 |57.50 |0.332 |0.122| |   0.566 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |      |       and   |285.50|430.50 |145.00|0.465 |0.153| |   0.758 |
    |______|_____________|______|_______|______|______|_____|_|_________|
    |  Gold Equivalents calculated using a price of Au at US$ 1,114 per |
    |                   Toz and Cu at US$ 3.07 per lb                   |
    |___________________________________________________________________|

Note:   Cut-offs stated at 0.3 grams per tonne gold

Colin J. 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.

Sample Preparation Assays QA/QC:

Drill core was logged, cut and sampled by Sunward personnel at the
Company’s facilities in Colombia. In the case of the drilling results
referred to herein the samples were prepared at Inspectorate America’s
sample preparation facility in Medellin, Colombia and then analyzed at
Inspectorate America’s ISO 9001:2000 accredited laboratory in Reno,
Nevada, USA, a facility that follows internationally accepted methods
and procedures and has stringent quality control and assurance
practices.

At the sample preparation facility in Medellin the samples were crushed
to >80% passing -10 mesh using a terminator jaw crusher; split to 250
grams; pulverized using a LM2 ring pulverizer to over 90% passing -150
mesh; split into 125 grams aliquots which were then sent to
Inspectorate America’s laboratory in Reno for assay. Gold was analyzed
by fire assay with Inductive Coupled Plasma (ICP) finish with a lower
detection limit of 2 ppb. Samples above 5 grams per tonne were assayed
by fire assay with gravimetric finish. In addition to gold a suite of
30 other elements including silver and copper were assayed by ICP-AES
following an aqua regia digest.  Blanks, field and laboratory
duplicates duplicate samples and a number of internationally approved
and registered analytical standard samples were routinely randomly
inserted into the preparation and analysis process as part of Sunward’s
normal quality assurance and quality control program.  Any analytical
batch of assays wherein inserted standards assayed without the
acceptable limits are rejected.

ABOUT SUNWARD:

Sunward Resources is a well-capitalized, Canadian-based company focused
on the exploration and development of gold/copper porphyry projects in
Colombia.  The 100%-owned Titiribi Project is located approximately 70
kilometres southwest of the city of Medellin, Colombia, in Antioquia
department, within the historical Titiribi mining district (estimated
total production of 1.5 to 2 million ounces gold equivalent). Access is
by paved highway from Medellin.

Titiribi hosts an NI 43-101-compliant Indicated Mineral Resource of 2.2
million ounces of gold within 142.94 million tonnes grading 0.480
grams/tonne gold and 0.148% copper and an Inferred Mineral Resource of
6.08 million ounces of gold within 372.7 million tonnes grading 0.507
grams/tonne gold and 0.078% copper, both assessed using a 0.3
grams/tonne gold cut-off.  Based on the above, Titiribi also hosts
465.9 million pounds of copper in the Indicated Resource and 645.7
million pounds of copper in the Inferred Resource.  Titiribi thus
contains 3.50 million ounces of gold equivalent in the Indicated
Resource category and a further 7.90 million ounces of gold equivalent
in the Inferred Resource category, calculated on the basis of gold
price of $1,114 per ounce and copper price of $3.07 per pound (See
Report dated September 2011 available at www.sunwardresources.com and on SEDAR.)

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 nor its Regulation Services Provider (as that term is
defined in the policies of the TSX) accepts responsibility for the
adequacy or accuracy of this release.
 

SOURCE Sunward Resources Ltd.


Source: PR Newswire