Planned 3,000 metre drill program to begin in July 2024
Drilling will target the 1 km x 2 km "Junction" IP anomaly discovered October 2023
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") plans to undertake a 3,000 metre drill program at the Oweegee copper-gold porphyry project (the "Project") that is scheduled to begin about July 21, 2024. Drilling will target the 1 km x 2 km Junction IP anomaly (please see news releases of October 4,2023 and November 28, 2023 for further particulars).
Peter Miles, CEO, comments, "We are pleased to announce that, with the recent close of our private placement, crews will mobilize to the Project on July 14, 2024. Drilling of the large, untested Junction IP anomaly discovered in October 2023 using cutting edge Dias 3-D IP technology is expected to begin around July 21, 2024."
Jeff Kyba P.Geo. and consultant comments: "Over the three years of exploration completed by Sanatana, the Oweegee copper-gold porphyry project has evolved into one of the best discovery-stage projects in BC's Golden Triangle. The geological evidence, including 2022 drill results, improved bedrock mapping and proximity to the Stuhini-Hazelton contact (aka the "Kyba Red Line") all supports the presence of a significant porphyry system at Oweegee. We're excited to drill test the Junction IP anomaly and continue exploring this compelling project."
The Junction IP anomaly (Figure 1 below) was discovered during the Company's 2023 exploration program and is interpreted to be the source of porphyry mineralization intercepted in drill holes OW22-08 and OW22-09 completed in 2022 at the Delta Zone.
Drilling at Delta Zone in 2022 from hole OW22-08 intersected 112.18 metres grading 0.17% Cu, 0.22 g/t Au, 1.1 g/t Ag and 28.3 ppm Mo from 58.37 m depth. Within this interval, two higher-grade zones returned 15.85 m grading 0.34% Cu, 0.33 g/t Au, 2.1 g/t Ag, 22.6 ppm Mo from 74.5 m depth; and 12.37 m grading 0.45% Cu, 0.44 g/t Au, 1.9 g/t Ag, 94.3 ppm Mo from 145 m depth.
Mineralization is hosted in a monomict diorite breccia, with strong, pervasive, sericite-pyrite alteration. The higher-grade intervals contain K-spar altered clasts and chalcopyrite bearing, porphyry-style vein fragments. Mineralization is observed in both the clasts and matrix of the breccias which indicates multiple mineralizing events.
The mineralized breccias are interpreted to be the upper realms of a larger porphyry system. The best explanation of the untested 1 km x 2 km Junction IP anomaly is that it is likely the porphyry body responsible for the Cu-Au-Ag-Mo bearing breccias intercepted in 2022.
The technical information in this news release was prepared under the supervision of Buddy Doyle B.App Sc Geology, MAUSIMM. Mr. Doyle 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.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company with an experienced management team and board of directors. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSXV: STA).
Sanatana's principal project is the Oweegee Dome copper-gold porphyry property which the Company optioned from ArcWest Exploration Inc. (see the Company's news release dated July 21, 2021). The Oweegee Dome copper-gold porphyry property is situated 40 km east of the KSM - Brucejack -Treaty Creek cluster of base and precious metal deposits and is underlain by similar geologic conditions, Stuhini Group (Tiassic age) host rocks, intrusions of the right age, alteration and porphyry style copper - gold - silver - molybdenite mineralization.
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.
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Cautionary Statement Regarding "Forward-Looking" Information
Mineralization hosted on adjacent, nearby or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements related to the fourth tranche of the Private Placement, the use of funds, and stock exchange approval for the overallotment.
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 including, but not limited to, regulatory approval for the Warrant Extension. 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.
