Announcement Date: 2022-07-11
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Santana Minerals Ltd.
Project name: Bendigo-Ophir
Location: New Zealand
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: 11 July 2022 Santana Minerals Limited (ASX: SMI) (“Santana” or “the Company”) is pleased to announce a significant mineral resource estimate (MRE) update from the 100% owned Bendigo-Ophir Project (“the Project”). Resource extension drilling since September 2021 has focused primarily on the Rise and Shine (RAS) deposit, resulting in a 6-fold increase in RAS inferred resources and consequently a 3-fold increase in overall Global Rise and Shine Shear Zone (RSSZ) resources. The Global MRE includes mineral resources at the CIT, SHR and SRE deposits which remain unchanged from those reported to the ASX in an announcement dated 28 September 2021. Inferred Resources occur in 4 deposits along the RSSZ over a strike length of 4 kilometres (Figure 7). The RSSZ is a major regional structure defined by geology, geochemistry, and geophysics over a strike length of 7 kilometres within the overall 30-kilometre NW-SE length of the Bendigo-Ophir Project. The 2022 Bendigo-Ophir Project MRE update integrates additional RAS DD drilling results from the nine-month period September 2021 to June 2022 as compiled by independent resource estimation consultant GeoModelling Limited (GML) Petone New Zealand. (Tables 1-4, Appendix 1 Additional Mineral Resource information and Appendix 2 JORC Code Table 1).
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