Santana Minerals (ASX:SMI) reports additional ‘significant’ results following re-assaying of drillholes within its 100% owned Bendigo-Ophir Project in New Zealand.
The results, generated by two ‘high-grade’ intervals within the “jewellery box” diamond drillhole MDD054 and RAS drillhole MDD051, have returned gold grades of up to 1400g/t and confirm the ‘high-grade’ mineralisation at lower cut of 0.5g/t and top cut of 100g/t Au.
Key results include:
- Hole MDD054: 1m @ 1400g/t Au from 179m, and; 1m @ 127g/t Au from 180m
- 43.3m @ 11.2g/t Au in 3 zones:
- 29.3m @ 13.8g/t Au from 165.8m (which includes the bonanza interval of 2m averaging 763g/t Au from 179m)
- 8.0m @ 5.2g/t Au from 200m
- 6.0m @ 6.7g/t Au from 222m
Results from the RAS deposit include:
- Hole MDD051: 49.9m @ 6.4g/t Au in 4 zones:
- 30.9m @ 9.0g/t Au from 152.1m
- 9.0m @ 3.2g/t Au from 184m
- 3.0m @ 2.6g/t Au from 206m
- 7.0m @ 0.6g/t Au from 238m
Commenting on the results, Santana Minerals Executive Director Dick Keevers stated: “Confirmation of the extremely high-grade gold assays over two 1m intervals in diamond drill hole MDD054 adds a new dimension to this “sweet spot” in the SE part of the RAS gold deposit.
“Confirmation of the extremely high-grade gold assays over two 1m intervals in diamond drill hole MDD054 adds a new dimension to this “sweet spot””
Clearly this area is capable of recording outstanding, high-grade, gold assays but prudence compels that these assays be cut back because our judgement is that such high-grade gold is unlikely to occur over a wide area.
More drilling and geostatistical analysis will ultimately determine the impact on the grade and contained ounces of gold in the mineral resources in this area.”
The company also notes that these results add considerable grade and thickness above the results used to deliver the recent RAS Mineral Resource Estimate (MRE) and form a ‘significant, high-grade’ zone on the eastern margin of the 300-400m wide, 1,500m long RAS shoot.
In addition, it is also reported that the RAS shoot is host to 85% of the recently delivered ~2Moz Inferred resource across four deposits (RAS, SHR, CIT, and SHR), which extend 4km along the Rise and Shine Shear Zone (RSSZ).
The Bendigo-Ophir Project is located about 90km northwest of OceanaGold’s (ASX:OGC) world-class Macraes gold mine in the Central Otago goldfields in New Zealand, with Santana Minerals owning 100% of all associated tenements. The project currently boasts a new Inferred Mineral Resource Estimate (MRE) of 643,000 ounces of gold @ 1.0g/t (0.25g/t Au lower cut-off grade, no top-cut).
With the final assay results from the two ‘high-grade’ intervals received, Santana Minerals announces it remains focused on ongoing extension drilling, with an additional reverse circulation (RC) drill rig to be added in September to accelerate testing of targets along the RSSZ.
Images: Santana Minerals Ltd
