Santana Minerals Limited (ASX: SMI) ('Santana' or 'the Company') is pleased to announce further significant results from the 100% owned Bendigo-Ophir Project where a 643Koz Inferred Gold Resource (MRE) in four Rise and Shine Shear Zone Deposits has been estimated to JORC Code 2012.
Drilling from September 2021 has primarily focused on extending mineralisation down-plunge at RAS where mineralisation within the RAS shoot consistently occurs over a vertical interval of 40-80 metres. Concentration of gold is in the 10-20-metre-thick hanging wall shear (HWS), with common grades of 1-10 g/t Au. Mineralisation is also in higher-grade stockwork within and below the HWS, as in MDD016 with bonanza grades to 57.5 g/t Au (ASX announcement 23rd December 2021) and 51.2 g/t Au in MDD025R (ASX announcement 3rd March 2022). The latest completed drill hole MDD044 extends RAS mineralization over 1,400 metres down plunge (860 metres beyond the September 2021 MRE), intersecting 87 metres of strongly silicified RSSZ from 356 metres including coarse visible gold in 9 one-metre intervals between 361 and 384 metres with assays pending. New metallurgical gravity-leach testwork results report recoveries to 99% reflecting the largely non-refractory nature of Bendigo-Ophir gold. Testwork is ongoing.
Commenting on the results Executive Director Dick Keevers said: 'Our latest northern extension of the RAS deposit in drill hole MDD 044, pushing on beyond the prominent geographical feature Shepherds Creek, is a pleasing result for Santana and our exploration team, providing continuing confidence for expanding the resource down plunge.
As we push our evaluation harder, our metallurgical consultants in Perth, WA, have produced excellent interim gold recovery results from new drill core composite samples, compiled from primary sulphide bearing drill intercepts, further down plunge at RAS. We successfully recovered our gold with gravity and cyanide leach in 2021, now our new trials have improved on that same process with up to 99% gold recovery, another step along the way for successful high gold recovery, relying on the dominance of non-refractory free gold.'
Drillhole MDD044 Mineralised Intercept
MDD044 collared on northernmost section N5017960 was aligned true north to test mineralisation north of Shepherds Creek where drillhole MDD031 intersected significant mineralisation of 21.2 metres @ 4.38g/t Au from 280.8 metres (ASX announcement on 20th April 2022). An 87-metre interval of silicified RSSZ was intersected 120 metres north of MDD031 from 356 metres depth with multiple occurrences of coarse VG associated with breccia, quartz-arsenopyrite-pyrite veins between 361 and 384 metres. MDD044 is the first drillhole at RAS to be oriented down plunge (340-degreeT) and as such true widths will be less than down-hole intervals. Assays are pending. This MDD044 intercept has extended RAS mineralisation more than 1,400m down-plunge from outcrop (860 metres beyond the September 2021 MRE) and remains open. At Macraes Mine, 90 km to the southeast, the Frasers Underground shoot (FRUG) is known to extend 2,400m down plunge.
Latest Drill Assay Results from RAS
Assays have been received for the balance of MDD031, all of MDD030R and partially for MDD033 and MDD034R. MDD031 assays are from the balance of the hole below the previously reported 21.2 m @ 4.38 g/t which included 5 intervals greater than 10 g/t gold (ASX announcement on 20th April 2022). MDD033 and MDD034R assays are from the upper part of the RSSZ with assays outstanding for the lower 60.5m and 68.5m respectively. The higher-grade intercepts of 6.28 g/t and 31.8 g/t gold in these two holes coincide with reported intervals of visible gold (ASX announcement on 20th April 2022). Both holes are on the western side of the RAS mineralized zone extending down plunge from the September 2021 MRE. MDD30R is up-plunge on the eastern side of the mineralized zone outside the September 2021 MRE. Laboratory assay turnaround (TAT), drill shifts, and exploration staff availability continues to be slowed with staff isolations due to the surge in Omicron virus throughout New Zealand. TAT will improve as Lab staff return.
Key Conclusions & Forward Programme
RAS new mineralisation extent has been further expanded and down-plunge potential considerably enhanced with significant MDD044 mineralisation (& VG) north of Shepherds Creek. The RAS mineralisation now extends more than 1,400m down-plunge from outcrop (860 metres beyond the September 2021 MRE) and remains open. At Macraes Mine, 90 km southeast, the Frasers Underground shoot (FRUG) extends 2,400m down plunge. The Stage 3 follow-on gravity & leach metallurgical testwork results of 94% to 98% gold recovery in 3 samples (RAS-01, RAS-05 and RAS-06) is significant (previously 90% total recoverable gold) and work is continuing to establish methods of improving recoveries in RAS-02 ore-types where 64% of gold was recovered. Extension and infill DD drilling is continuing at CIT and RAS deposits. Reconnaissance holes are also scheduled to test the down plunge extensions of SHR deposit (the largest surface footprint of the 3 main deposits). An MRE upgrade has commenced at RAS and prior to finalisation, further assays are to be added from fringe drillholes that are expected to define mineralisation extents. The RAS new northern mineralisation results have flagged the higher-grade potential down plunge at CIT and SHR (which remain relatively undrilled) and at other prospects with strong geochemical anomalies (drill untested) along the inferred 30km length of the RSSZ with the project area. The RSSZ is emerging as a potential multi-million-ounce system similar to the world class Macraes deposit (10Moz) 90 kilometres to the NE.
Contact:
Tel: +61 408 873 353
Email: rkeevers@westnet.com.au
SANTANA MINERALS LIMITED 
