29 June 2017. Santana Minerals Limited (“Santana”) is pleased to report drill assay results for the first drill program testing the southern extensions of the Mojardina prospect at the Company’s Cuitaboca Project in Sinaloa, Mexico (Figure 1).
Highlights:
| ?MSRC033 | 53m @47g/t Ag from 1m Including 23m @75g/t Ag from 30m; and 8m @ 157g/t Ag from 45m |
| ?MSRC034 | 15m@100g/t Ag from 3m Including 5m @197g/t from 12m |
| ?MSRC038 | 7m @53g/t Ag from surface |
Results of the third phase of drilling in the northern part of the Mojardina structure are pending.
Discussion:
Two of the first three holes in the recently completed RC drilling campaign have reported material silver mineralisation near surface. Drill holes MSRC033, MSRC034 and MSRC035 (Figure 2) were drilled at the southern end of the known Mojardina strike zone to test the southernmost identified surface expression of the system and followed diamond saw channel sampling. Grades across these first reported holes confirm the existence of strong mineralisation at the southern extent of Mojardina and are in line with or better than diamond channel grades at surface. Further interpretation work and drill planning of Mojardina South is already underway.
A fourth hole, MSRC036, was drilled at the Santa Eduviges junction. While this hole did not intercept any material mineralisation it did not follow any previous surface channel sampling trenching and will form the basis for further interpretative work on the geologic structure.
Further to the north in the Tepomena region, holes MSRC037, MSRC039 and MSRC040 showed weak mineralisation over narrow widths. Hole MSRC038 intersected 7m @53g/t Ag from surface. Further review and 3D interpretative work will now help advance the understanding. T
hese early results on phase-1 testing of Mojardina South are considered highly encouraging.
Drill holes 041 to 50 were designed to further test the identified mineralisation at Las Animas and Evangelina. Results are pending.
For further information please contact:
Tony McDonald Managing Director +661 417 726 364 | Cameron Peacock Investor Relations and Business Development +61 439 908 732 |
About Santana
Santana is a precious metals explorer focused on Mexico where it owns 100% of the Namiquipa (silver/lead/zinc) project in Chihuahua and is earning into ownership of the Cuitaboca Ag-Au polymetalic project in Sinaloa.
Additional information about Santana and its projects is available on the website: www.santanaminerals.com
Competent Person/Qualified Person.
The information in this report that relates to exploration targets, exploration results, mineral resources or ore reserve is based on information compiled by Mr Jason Beckton, who is a Member of the Australian Institute of Geoscientists. Mr Beckton is a part time consultant to Santana. Mr Beckton has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Beckton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
