11 July 2017 – Santana Minerals Limited (“Santana”) is pleased to report drill assay results for the remainder of the recently completed RC drill program at its Mojardina prospect at the Company’s Cuitaboca Project in Sinaloa, Mexico (Figure 1).
6m @ 100g/t Ag from 118m
and 12m @ 148g/t Ag from 204
32m @ 104g/t Ag from 98m
including 19m @ 153g/t Ag
and 5m @ 93g/t Ag from 179m
12m @ 118g/t Ag from 99m
including 6m @ 183g/t Ag
|5m @ 121g/t Ag from 15m|
Having confirmed a new zone of near-surface silver mineralisation at Mojardina South in the first phase of the May-June 2017 drill program (ASX: 29 June 2017) the second phase of drilling (holes 41-50 – Figure 2) was designed to test below the two previously identified controlling vein systems of Las Animas and Evangelina in the north-western part of the Mojardina structure.
The Company is pleased to report several significant intersections that suggest mineralisation continues at depth across both of these vein systems.
Drill hole MJRC044 intersected 6m @ 100g/t Ag from 118m and importantly continued on to intersect the footwall of the Evangelina structure, returning 12m @ 148g/t from 204m. This intercept is the deepest intercept to date within the Evangelina shoot. It remains open at depth and along strike.
Drill holes MJRC046 (32m @ 104g/t Ag, including 19m @ 153g/t) and MJRC047 (12m @ 118g/t Ag including 6m @ 183g/t) demonstrate significant levels of mineralisation and indicate a material extension of the previously identified Las Animas shoot. Initial interpretation suggests that a change in strike and increase in dip may be coincident with the increase in grade and widths, also resulting in an open zone of >100 g/t Ag at depth and along strike. Further interpretative work and future drill planning is already underway.
The Company is highly encouraged by the overall results of the drill program at Mojardina with a new zone of mineralisation identified at the southern extent of the structure and expansionary drilling below Evangelina and Las Animas confirming mineralisation remains open at depth and along strike (Figures 3 and 4). Each of the three RC drill programs undertaken at the Mojardina prospect have added significantly to its advancement and delivered material results that confirm the potential for a near surface, bulk tonnage silver resource.
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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.