Santana Minerals Confirms Down-Plunge Extension at RAS Gold Deposit

MT Newswires Live

01/07

Santana Minerals (NZE:SMI, ASX:SMI) confirmed a major down-plunge extension at its Rise and Shine (RAS) deposit, extending and notably thickening mineralization about 135 meters north of previous drilling, according to a Wednesday filing with the Australian and New Zealand bourses.

Step-out drill hole MDD490 at RAS intersected 38.6 meters at 1.7 grams per tonne gold, including a higher-grade 13.6 meter core at 2.4 grams per tonne, per the filing.

The company has applied for a new 135-square-kilometer prospecting permit with New Zealand Petroleum and Minerals to cover the down-plunge extension of the Rise and Shine Shear Zone beneath the textural zone 3 schist, the filing said.

The follow-up program is set to continue extensional drilling from the Ardgour Ridge site, with results expected to guide further assessment of the deposit and potential conversion to a mineral resource, the filing added.

The company's New Zealand shares were up over 2% in recent Wednesday trade.

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