CSE:SNL

Sentinel Resources Acquires Salama Gold Project, Peru

Sentinel Resources Corp. (CSE: SNL) (US OTCPINK: SNLRF) ("Sentinel" or the "Company ") is pleased to announce that it has acquired the Salama Gold Project, consisting of four gold focused mining concessions totaling approximately 2,700 hectares, located in western Peru .

Sentinel's Salama Gold Project situated within Peru's prolific gold-polymetallic Miocene skarn and porphyry belt (CNW Group/Sentinel Resources Corp.)

Highlights of Acquisition:

  • Potential for high and low sulfidation epithermal gold mineralization and breccia pipe stock-work style gold-silver deposits.
  • Situated within the prolific gold-polymetallic Miocene skarn and porphyry belt — one of several coast-parallel metallogenic belts that host the larger and more significant deposits of Peru ( map link here ). This includes Lagunas Norte Gold Mine, Rasario De Belen Gold Mine , La Arena Gold Mine and La Virgen Mine, that together host over 20 Moz gold within a 45 km radius of the Salama Concessions.
  • Highly experienced national and expatriate exploration team capable of carrying out exploration work on Salama Gold Project immediately.
  • First reconnaissance visit planned for the week of 14 th October 2020 . First pass mapping and sampling will concentrate on areas of alteration hosting quartz veins and silicified breccias. Previous work by artisanal and small-scale miners provides additional vectors to areas of higher-grade mineralization.

Rob Gamley , President & CEO of Sentinel states, "The acquisition of four prospective gold concessions in this historical gold-silver producing region in Peru shows the ability of our exploration team to identify and acquire key gold assets notwithstanding current administrative challenges in Peru . With the skill and local knowledge of our in-country team, we are well placed to quickly build a robust portfolio of gold focused assets in this region of Peru ."

About Salama Gold Project

The Salama Gold Project consists of four gold focused exploration concessions totaling 2,700 hectares in the Anta province of Peru . Preliminary review indicates extensive areas of quartz veins with localized silicified breccias, that have been the focus of historic production by artisanal and small-scale miners. These miners targeted high grade areas where oxidation of bedrock resulted in formation of free gold amenable to gravity recovery.

Preliminary review of regional satellite imagery indicates that two major structures intersect in the northeast of the concession, in a similar geological setting to La Virgin gold mine 20 km to the north. Historic production at La Virgin was reported as 120,000 oz Au/annum.

Sentinel's field team will initially comprise three in-country geologists, allowing for rapid first pass reconnaissance and rock-chip grab sampling. The field team has robust project review and target generation experience, especially with respect to Peruvian low and high sulphidation epithermal deposits, such as Lagunas Norte, La Arena and Rosario De Belen . This will allow mineralization at Salama to be placed within the wider context of an epithermal deposits geological, structural and hydrothermal evolution, and thus allow key controls on mineralization and high value targets to be rapidly established. Sentinel will submit samples to ALS Lima for preparation and analysis.

Terms of Transaction

Sentinel entered into an assignment agreement (the "Assignment Agreement") with a third party (the "Assignor") whereby it assumed all of the right, title and interest in and to a purchase agreement (the "Purchase Agreement") with the holders of the Salama Gold Project.

Under the terms of the various agreements, Sentinel acquired a 100% interest in the Salama Gold Project, royalty free, and, in consideration of which, Sentinel paid US $35,000 and issued a total of 2,100,000 common shares. The shares issued are subject to restrictions on resale for a period of four months from the date of issued.

Stock Option Grant

Sentinel has also granted options to purchase 250,000 shares of Sentinel to its directors, officers and consultants. The options are exercisable at $0.67 per share for a period of five years from the date of grant.

Qualified Person

Christopher Wilson , Ph.D., FAusIMM (CP), FSEG, a Qualified Person, has reviewed and approved the scientific and technical information contained in this news release.

About Sentinel Resources

Sentinel Resources is a Canadian-based exploration company focused on the acquisition and exploration of gold and silver projects with world-class potential. Its current portfolio includes the Waterloo, Pass, and Little Bear projects in British Columbia and the Salama Gold Project in Peru . The Company's guiding principles are based on acquiring strategic exploration properties in mining-friendly jurisdictions with historical mining industries, low-cost of entry or acquisition, and easy access to infrastructure to minimize capital and operational costs in explorational periods. For more information, please go to the Company's website at www.sentinelexp.com .

Sentinel Resources Corp.

"Rob Gamley"
President and Chief Executive Officer

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sentinel cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Sentinel's limited operating history, its proposed exploration and development activities on is mineral properties and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Sentinel does not undertake to publicly update or revise forward-looking information.

Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Sentinel Resources Corp.

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)

Barrick Gold Corporation Plans to Change Name to BARRICK MINING CORPORATION

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) ("Barrick" or the "Company") today announced that it plans to change its name to Barrick Mining Corporation and from « Société aurifère Barrick » to « Société minière Barrick » in French, subject to shareholder approval at its upcoming Annual and Special Meeting of Shareholders on May 6, 2025.

In connection with its name change, the Company also plans to change its ticker symbol for the Barrick common shares listed on the New York Stock Exchange from ‘GOLD' to ‘B ', to become effective at the start of trading on May 9, 2025. The Barrick common shares will continue to trade under the ‘ABX' ticker symbol on the Toronto Stock Exchange. The new CUSIP number for the Barrick common shares effective at the start of trading on May 9, 2025 will be 06849F108.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Patronus Resources

New 1km‐long Gold Trend Defined at Cardinia East

Significant reconnaissance air‐core drilling results confirm multiple zones of gold mineralisation at Cardinia, further strengthening Patronus Resources’ exploration pipeline in this highly prospective region.

Patronus Resources Limited (ASX: PTN; “Patronus” or “the Company”) is pleased to report assay results from recent air‐ core drilling at its 100%‐owned Cardinia Gold Project, located near Leonora in Western Australia (see Figure 1), which has resulted in the delineation of multiple strong gold anomalies.
Keep reading...Show less
Gold bar, stock numbers and "Weekly Editor's Picks" text overlay.

Editor's Picks: Gold Price Touches US$3,500 in Volatile Week, M&A Heats Up

It was quite a week for the gold price.

The yellow metal continued its record-breaking streak early in the period, touching the US$3,500 per ounce level for the first time, but then saw a sharp pullback, even dropping briefly below US$3,300.

What's behind gold's latest moves? Market watchers have pointed to US President Donald Trump's comments about Federal Reserve Chair Jerome Powell as the trigger for its latest spike.

Keep reading...Show less
AGNICO EAGLE ANNOUNCES ELECTION OF DIRECTORS

AGNICO EAGLE ANNOUNCES ELECTION OF DIRECTORS

Agnico Eagle Mines Limited logo (CNW Group/Agnico Eagle Mines Limited)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") today announced that, at the annual and special meeting of shareholders held on April 25, 2025 (the "Meeting"), the eleven candidates listed in the management information circular dated March 24, 2025 were duly elected as directors of Agnico Eagle.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
AGNICO EAGLE ANNOUNCES ELECTION OF DIRECTORS

AGNICO EAGLE ANNOUNCES ELECTION OF DIRECTORS

Agnico Eagle Mines Limited logo (CNW Group/Agnico Eagle Mines Limited)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") today announced that, at the annual and special meeting of shareholders held on April 25, 2025 (the "Meeting"), the eleven candidates listed in the management information circular dated March 24, 2025 were duly elected as directors of Agnico Eagle.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×