canada post timmins

Second Update on Sanatana's Drill Program at Gold Rush Project, Timmins, Ontario

Highlights

  • Seven NQ size holes and two AQ size hole completed on the North Shaft prospect.
  • Brittle ductile shear zone with quartz veins intersected in all holes
  • The main zone widens at depth, strikes for at least 200m and is open in all directions
  • Core samples sent for assay
  • Drill now targeting Elora prospect, an EM anomaly.

Sanatana Resources. (TSXV: STA) ("Sanatana" or the "Company") has completed nine holes (1,075 m) on the North Shaft prospect situated on its 2,353 hectare Gold Rush project, located 25km west of the Timmins. All holes intersected quartz veins, alteration and sulphides.

North Shaft Prospect

Sanatana previously reported surface work at the North Shaft prospect where stripping uncovered two gold trends, a Western trend that crossed the historic prospecting shaft. It trends at 2600 for at least 70m and it includes a 27.3 g/t grab sample and a channel sample of 1.94 g/t over 1m; and an Eastern trend at 1250 for over 100m length with assays up to 6.35 g/t over 0.75m.

Sanatana has focused on drill testing the eastern trend with G4's NQ size core rig. The first hole targeted 50m below the 6.35 g/t sample which occurs in a 4m zone of above >1g/t channel samples. The first drill hole delivered immediate encouragement intersecting a zone of ductile shear and brittle quartz carbonate veins with albite and sulphides 10.7m wide (true width), demonstrating a widening at depth. The next hole drilled from the same location was steepened to drill beneath the first and again intersected the shear with quartz veins now some 24m true width . This pattern of drilling, one shallow dipping hole one steeper dipping hole was used to step out, 50m to west and 50m to the east. For the final hole the drill returned to the original middle section to target the main shear at greater depth. It extended the shear to 100m below the surface with it still open at depth. The drilling shows the shear dips 650 to the north steepening to 750 at depth. The main shear is open in all directions. Drilling also encountered other shear zones apart from the main shear.

Figure 1 shows a plan of the drilling and table 1 lists the collar locations, bearing and dips. A photograph is also included showing an example of the shear and quartz veins.

A second scout drill rig has also been operating at the North Shaft prospect, testing the Eastern trend from the southern side. This drilling also encountered the shear and demonstrated it continues further to the east. The combined drilling shows that the Eastern trend continues for at least 200m strike length and is open to the east and the west. The mineralization is hosted in the intrusive rocks of the Kamakscotia gabbro complex and these consist of gabbro, granodiorite and a fine grained feldspar porphyry. Logging and sampling of the core is nearing completion and samples are being sent to the laboratory in 100-sample batches. The laboratory reports to expect a two- to three-week turnaround.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2534/82254_1580a92c440b1933_001.jpg

Figure 1. Plan View of the North Shaft drilling

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2534/82254_1580a92c440b1933_001full.jpg

Table 1: Location of the Drill Holes and Their Orientation.

Drill hole EastingNorthingBearingDipTD (m)
NS21-01 448702536999521545123
NS21-02 448702536999521565144
NS21-03 448661537002321545 119
NS21-04 448661537002321570120
NS21-05448743536996621545120
NS21-06448743536996621575103
NS21-07448720537002021545165
      
Total 894
      
Drill hole EastingNorthingBearingDipTD (m)
GR21-01 4486403699638545101
GR21-02 4487655369882354580
      
Total181

 

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2534/82254_1580a92c440b1933_002.jpg

Photograph 1: An example of the main shear zone from Drill hole NS21-07.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2534/82254_1580a92c440b1933_002full.jpg

Elora Prospect

The G4 NQ drill rig has now moved to test a geophysical target on the central eastern part of the Gold Rush property. A MegaTEM airborne survey, flown by the Ontario geological survey, revealed several EM anomalies on the property. The Elora prospect was selected for drill testing as one of the stronger responses and line cutting and a Max-Min EM ground survey were conducted. Two parallel Max Min responses that extend over 800m N-S were revealed in the survey. The drill will be positioned to test this anomaly.

The technical information in this news release was prepared under the supervision of Kevin Kivi P.Geo. Mr. Kivi is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information disclosed in this news release.

Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada and the Western Pacific. With an award-winning technical team and experienced management and board of directors, Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).

Sanatana Resources INC.

(signed) "Peter Miles"

Peter Miles
Chief Executive Officer

For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com.

To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82254

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Globe made of copper metal showing Europe, Africa and South America.

Top 10 Copper Producers by Country

In 2024, concern grew about copper supply as copper mines in the top copper-producing countries continued to age without new mines to replace them.

Additionally, copper demand from electrification is expected to rise significantly in the coming years.

The competing forces of the global macroeconomic situation and a tightening supply and demand situation caused major swings in the copper price last year, and the red metal set a new all-time high in May 2024 as it moved above the US$5 per pound mark for the first time.

Keep reading...Show less
Copper bars.

Top 5 Canadian Mining Stocks This Week: Minsud Resources Up 47 Percent on Maiden Resource

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its January consumer price index (CPI) figures on Tuesday (February 18). The data showed that inflation ticked up on a yearly basis to 1.9 percent from the 1.8 percent recorded in December. On a monthly basis, CPI rose 0.1 percent in January following a 0.4 percent decline in December.

The rise in inflation was owed to a 5.3 percent increase in energy prices on an annualized basis, primarily gasoline and natural gas, after recording a more modest 1 percent gain the previous month. Headlining the gains was an 8.6 percent jump in gasoline prices versus the same period last year and a 3.5 percent increase over December.

Keep reading...Show less
Stock charts in newspaper.

Teck Resources Reports Record Copper Production, Reassures Investors Amid Tariff Uncertainty

Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) closed out 2024 with record copper production and strong financial results, despite ongoing trade uncertainties that could impact its operations.

The Vancouver-based mining giant released its unaudited Q4 results on Thursday (February 20), reporting adjusted EBITDA of C$835 million for the period, driven primarily by increased copper and zinc sales and robust metal prices.

"2024 was a transformational year as we repositioned Teck as a pure-play energy transition metals company with the sale of the steelmaking coal business and record annual copper production," said President and CEO Jonathan Price.

Keep reading...Show less
Electric Royalties (TSXV:ELEC)

Electric Royalties Announces Interest Conversion Under Convertible Credit Facility

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") announces that Gleason & Sons LLC (the "Lender") has elected to convert C$428,540.40 of accrued interest on the principal amount of the Company's convertible credit facility (the "Interest") under the amended and restated convertible loan agreement dated February 16, 2024 between the Lender and Company (the "A&R Agreement"), into 3,174,373 common shares of the Company (the "Conversion Shares"), at a conversion price of C$0.135 per Conversion Share (the "Interest Conversion"). Subject to acceptance of the TSX Venture Exchange (the "TSXV"), the Company expects to issue the Conversion Shares in February 2025.

Keep reading...Show less

Latest Press Releases

Related News

×