Sulliden to ramp up exploration at flagship project in Peru

* To drill 70,000 mtrs in 2011 at Shahuindo Project

* Says well-funded for exploration activities

* Shares jump 10 pct to 6-year high

Dec 7 (BestGrowthStock) – Gold explorer Sulliden Gold Corp (SUE.TO: )
plans to ramp up exploration at its flagship Shahuindo gold
project in northern Peru, sending its shares up 10 percent to a
six-year high.

The Toronto-based Sulliden plans to drill about 70,000
meters in 2011, almost doubling the total meters drilled since
the discovery of the project in 1992, Sulliden said in a
statement.

Sulliden, which had cash and cash equivalents of $12
million as on July 31, said it is funded to complete
exploration and studies, and cover other costs until a mine
development decision.

The company also plans to identify potential mineral
resources at the project.

The Shahuindo project has indicated mineral resources
totalling 1.1 million ounces gold and 29.8 million ounces
silver and inferred mineral resources totalling 290,000 ounces
gold and 3.5 million ounces silver, according to the company’s
website.

Sulliden shares, which have more than doubled in value in
the last one year, were trading up 2 percent at C$2.34 on
Tuesday morning on the Toronto Stock Exchange. They touched a
high of C$2.54 earlier in the session.
(Reporting by Arnika Thakur in Bangalore; Editing by Don
Sebastian)

Sulliden to ramp up exploration at flagship project in Peru