Santana Minerals (ASX:SMI) has reported new ‘high-grade’ gold intercepts that continue to support the resource potential at its wholly owned Bendigo-Ophir Project in New Zealand.
Assays have been received for 7 drillholes from the Rise and Shine (RAS) deposit, taken from infill drilling of the inferred resource area throughout the deposit. The most ‘significant’ intercepts include drillhole MDD142, with 28m @ 4.6g/t Au between 133m and 185m, including visible gold at 162m, 167m, and 169m.
The company shares that drilling is continuing to expand the resource potential of the project, with 17,913m drilled since the completion of the February 2023 Mineral Resource Estimate (MRE).
The Bendigo-Ophir Project consists of 2.9 million ounces (Moz) of gold in the new MRE in 4 RAS Shear Zone deposits, which remain open down-plunge at depth.
The MRE includes a maiden indicated resource of 0.3Moz @ 4.3g/t Au at RAS.
Commenting on the results, Santana Minerals General Manager Damian Spring says: “These assays from MDD142 suggest an extension of the high-grade zone to the south and upper section of the Rise and Shine deposit and represent an increase in grade of ore that would likely be processed early in the mine life.
“Alongside the recent positive metallurgical testing reporting high recoveries of gold, these results provide strong confidence the project is tracking well towards a positive Scoping Study”
Alongside the recent positive metallurgical testing reporting high recoveries of gold, these results provide strong confidence the project is tracking well towards a positive Scoping Study, which is expected in the September quarter this year.”
Santana says these results display the continuity of the mineralisation in the southern area of the deposit, highlighted by the results from drillhole MDD142. Detailed structural modelling is well-advanced to better understand the mineralisation controls, and these will be incorporated into the overall resource modelling in the coming months.
Additionally, the company says infill drilling is continuing to focus on converting inferred resources to indicated at the RAS deposit.
The Bendigo-Ophir Project is located within the Central Otago Goldfields in the South Island of New Zealand. The project area comprises 292km-square about 90km northwest of OceanaGold’s (ASX:OGC) Macraes Gold Mine.
Images: Santana Minerals Ltd
