- Santana Minerals (SMI) encounters further significant mineralisation at its Bendigo-Ophir Project in New Zealand
- Since September 2021, drilling has continued to extend the mineralisation down-plunge at the Rise and Shine (RAS) Deposit
- Results have peaked at 23.80g/t gold and the drilling has extended the RAS shoot to 420 metres north and down-plunge of the 2021 MRE
- Two diamond drill rigs are now operating 24/7 at the Rise and Shine, Come-in-Time and Shreks deposits with a third rig expected to arrive imminently
- Santana ends the day 11.4 per cent in the green with shares trading at 49 cents
Santana Minerals (SMI) has encountered further significant mineralisation at its 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 643,000 ounces of gold at one gram per tonne (g/t) gold.
Since September 2021, drilling has continued to extend the mineralisation down-plunge at the Rise and Shine (RAS) Deposit.
Results have been received from holes MDD025 and MDD025R with a best intercept of 14 metres at nine g/t gold from 264 metres including three metres at 31.4 g/t gold from 265 metres coming from hole MDD025R.
Unfortunately, hole MDD025 was abandoned due to technical issues but still intersected 4.5 metres at 9.03 g/t gold from 261.2 metres including one metre at 23.8 g/t gold from 262 metres.
These results confirm the continuity of the mineralised across the down-plunge axis.
This drilling has extended the RAS shoot to 420 metres north and down-plunge of the 2021 MRE and has now been defined over one-kilometre down-plunge from outcrop.
Two diamond drill rigs are now operating 24/7 at the Rise and Shine, Come-in-Time and Shreks deposits with a third rig expected to arrive imminently.
“Our RAS diamond drilling continues to deliver the goods; excellent gold grade over substantial drill widths in new ground extending down the structure, clearly adding to the resource available to be incorporated into our next MRE,” Executive Director Dick Keevers said.
“The RAS deposit is only part of our entire Bendigo–Ophir project, where down plunge exploration drilling will be undertaken on other near-surface deposits commencing later this month now with the benefit of a better geological understanding after our success at RAS.”
Santana has ended the day 11.4 per cent in the green with shares trading at 49 cents in a $64.99 million market cap.