Join our daily newsletter At The Bell to receive exclusive market insights
- Santana Minerals (SMI) receives further results from its diamond drilling program at the Bendigo-Ophir Project in New Zealand
- Both diamond and reverse circulation (RC) drilling is continuing with 11 diamond and 33 RC holes drilled to date
- Better results come from the lower zone of hole MDD009 which intersected up to 11.28g/t gold
- Assays are now pending for four of the diamond holes and once received, will combine with the RC results to advance a new mineral resource estimate
- Santana has ended the day a healthy 23.5 per cent in the green with shares trading at 10.5 cents
Santana Minerals (SMI) has received further results from its diamond drilling program at the Bendigo-Ophir Project in New Zealand.
The project lies on New Zealand’s South Island within the Otago Goldfields and has an inferred mineral resource estimate (MRE) of 10.1 million tonnes at 0.8 grams of gold per tonne (g/t).
Both diamond and reverse circulation (RC) drilling is continuing with 11 diamond and 33 RC holes drilled to date.
Diamond drilling was undertaken at the Rise and Shine (RAS) Deposit to test north down-plunge from previously identified mineralised intercepts.
Currently, drilling is testing the mineralisation west and east of newly modelled areas.
Best results come from the lower zone of hole MDD009 which intersected nine metres at 6.34g/t gold from 209 metres including five metres at 11.28g/t gold from 209 metres.
Other results include 16 metres at 0.81g/t gold from 141 metres including seven metres at 1.36g/t gold from 148 metres.
Assays are now pending for four of the diamond holes and once received, will combine with the RC results to advance the new MRE.
Executive Director Dick Keevers was pleased with the results so far received from hole MDD009 as it opened up the scope of the Rise and Shine Deposit.
“While the full assay results from the deeper part of MDD009 are not available, the compelling assay results so far have confirmed that our drilling in the down-plunge extensions of the RAS prospect, has opened up scope for both major extensions of the gold mineralisation and highly promising increases in the tenor and intensity of the mineralisation,” Mr Keevers stated.
Santana has ended the day a healthy 23.5 per cent in the green with shares trading at 10.5 cents in a $9.69 million market cap.
