Santana Minerals (ASX:SMI) has identified a new exploration target through recent drilling conducted north of the Rise & Shine (RAS) deposit at the Bendigo-Ophir Project in Central Otago, New Zealand.
Drilling at this target intersected thick zones of silicified breccia, which is the main host for ‘high-grade’ gold at RAS. Highlights of the results include a minimum of 3.6 million tonnes @ 1.9 grams per tonne gold and a maximum of 7.7Mt @ 2.8g/t gold.
CEO Damian Spring says the identification of the exploration target reflects the company’s confidence in the “scale of the system” and what remains uncovered.
“Based on the geological model and what we’ve seen in MDD490, we see clear potential for RAS to grow well beyond its current resource footprint as drilling continues,” Spring says.
The latest drilling expands the mineralised envelope by 465m from the current Mineral Resource Estimate (MRE) of 26.5 million tonnes @ 2.4g/t gold for 2.08 million ounces.
The company is planning to follow up drilling to focus on breccia, confirmed by “significant” gold mineralisation of four diamond drillholes.
The company is also conducting extensional drilling at the existing Ardgour drill site, the results of which will determine the scope, timing, and appropriateness of the target as a mineral resource.
Sanatana Minerals is focused on developing the Bendigo-Ophir Project into an environmentally and economically friendly prospect, located in New Zealand.
Write to Paige Furner at Mining.com.au
Images: Santana Minerals
