- 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.