Bendigo-Ophir project in New Zealand. Source: Santana Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Santana Minerals (SMI) reports new gold intercepts at its Bendigo-Ophir project in New Zealand, extending mineralisation at the Rise and Shine (RAS) deposit to the north
  • Fringe drill holes at the deposit imply a width of about 300 metres from east to west of mineralisation
  • The company is continuing drilling in order to test mineralisation, which remains open in four deposits
  • It is planning to finalise a Mineral Resource Estimate (MRE) upgrade to RAS once new mineralisation limits are defined
  • Shares are trading 0.56 per cent lower today at 89 cents each at 11:26 am AEST.

Santana Minerals (SMI) has reported new gold intercepts at its Bendigo-Ophir project in New Zealand, extending mineralisation at the Rise and Shine (RAS) deposit to the north.

Fringe drill holes at the deposit imply a width of about 300 metres from east to west of mineralisation.

Partial assays revealed 16 metres at 5.6 grams per tonne (g/t) of gold aggregate between 233 metres and 258 metres in one hole in the RAS northern core.

The company is continuing drilling in order to test mineralisation, which remains open in four deposits.

It is planning to finalise a Mineral Resource Estimate (MRE) upgrade to RAS once new mineralisation limits are defined.

“Clearly this continues to add scope for a substantial Mineral Resource Estimate (MRE) upgrade at RAS and provides scope for new mineralisation along the shear, where we have defined near surface gold deposits at Come-In-Time and Shreks/Shreks East,” Executive Director Dick Keevers said.

Meanwhile, metallurgical gravity-leach gold recoveries are continuing to demonstrate a mostly non-refractory nature of the project.

Shares were trading 0.56 per cent lower today at 89 cents each at 11:26 am AEST.

SMI by the numbers
More From The Market Herald

" Beamtree (ASX:BMT) signs A$10.1m RippleDown contract with Ampath

Beamtree (ASX:BMT) has signed a US$7 million (A$10.1 million) five-year contract with Ampath for its RippleDown…
Beamtree (ASX:BMT) - CEO, Tim Kelsey

" Beamtree (ASX:BMT) accelerates international growth with first NHS contracts

Beamtree (ASX:BMT) secures its first NHS (National Health Service) contracts worth about $540,000 in combined annual…
Beamtree (ASX:BMT) - CEO, Tim Kelsey

" Beamtree (ASX:BMT) sees 91pc boost in revenue

Health data analytics company Beamtree (ASX:BMT) has reported a 91 per cent boost in group revenue…

" EML Payments (ASX:EML) collaborates with Correos to revive Spanish cultural sector post COVID-19

EML Payments (ASX:EML) has partnered with its key European client Correos, Spain's national post office network…