Update on Sanatana's Drill Program at Gold Rush Project, Timmins, Ontario

Wednesday, 14. April 2021 17:58

Highlights

  • Four holes completed in North Vein area
  • All holes intersected quartz veins, alteration and sulphides
  • Core samples sent for assay
  • Drill now targeting North Shaft prospect.

Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - Sanatana Resources. (TSXV: STA) ("Sanatana" or the "Company") is pleased to announce that G4 Drilling has completed four holes (561 m) on its 2,353 hectare Gold Rush project, located 25km west of the Timmins. All holes intersected quartz veins, alteration and sulphides.

Peter Miles, Sanatana's CEO commented "Sanatana remains well financed with approximately $3.8 million in cash. We are pleased that despite COVID restrictions, drilling is proceeding quickly and we look forward to reporting results as we receive them."

North Vein Prospect

Initial drilling tested the North Vein prospect, one of eight confirmed gold showings on the Gold Rush project. The North Vein prospect is a 40m long E-W trending shear zone/quartz vein complex, 2m to 4 m wide on surface with grab samples ranging from trace to 11 g/t Au. A shallow shaft is present on the prospect. The drill is being used to look for extensions of the North Vein at depth and along strike.

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Figure 1. Plan view of the North Vein drilling

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The first two holes aimed below the North Vein showing intersected mineralized quartz veins and shearing early in the holes then cut diabase beneath the North Vein occurrence. Post processing of magnetic data using an "Edge Filter" highlight the potential contacts of the magnetic intrusive, and suggest the diabase intrusive is complex and possibly faulted near the North Vein. Geologists positioned step-out drill holes west and east of the North Vein to avoid diabase intrusive, targeting veins in adjacent gabbro.

The western drill hole NV21-03 intersected sulphide-bearing quartz veins early in the hole hosted by felsic to intermediate intrusive rocks. Veins in this hole may correspond to similar sulphide-bearing veins cut by NV21-01 and NV21-02.

The eastern drill hole NV21-04 intersected several faults in gabbro and ended in altered granophyric rocks with quartz veins and sulphide mineralization near the transition from mafic to more felsic intrusive rocks near the end of the hole.

Table 1: Location of the drill hole and their orientation.

Drill holeEastingNorthingBearingDipTD (m)
NV21-0144846053710721800450156
NV21-024484605371072180061.5096
NV21-0344846153710732360450129
NV21-0444859253710581800450180
Total561

 

Table 2 Core intervals sent for assay

Drill holeFromTo Number of Samples
NV21-0128m36m8
44m47m3
54m59m5
NV21-0226m32m6
46m70m25
NV21-0328m31m3
36m38m2
46m65m19
NV21-0442.34m57.34m15
62.79m65.79m3
89.48m90.48m1
91.6m94.6m3
99.23m102.23m4
110.43m113.43m4
120.75m123.78m4
145.3m180.0m35
Total140

 

North Shaft Prospect

The drill rig has now commenced drilling at the North Shaft, where it will conduct a similar program. The first hole is targeted 50m below a 5m wide zone of more than 1 g/t Au from channel samples at surface.

Sanatana is also field testing a very light weight small diameter portable drill rig, a "scout drill", as a prospecting tool to augment the larger diameter program. The scout drill recently completed a 105 m hole on the North Shaft prospect. Hole GR21-01 was drilled across the North Shaft shear at an oblique angle (30 degrees off perpendicular) and encountered the shear from 45 to 93m depth. The scout drill is now testing eastern limit of the 200m long extend of the North Shaft prospect exposed by last year's stripping and channel sampling program.

Testing Protocol

Sanatana samples sheared and altered zones, quartz veins, and zones with elevated sulphides, with bracket samples on either side in fresh rock to establish background geochemistry. NQ diameter core is sawed, then sampled at nominal 1m intervals. One half is submitted for analysis, and the other half retained in the core box. Additional quarter core sub-sampling of boxed core is an option where detailed sampling of narrow veins and mineralized zones is required. Quality control samples are inserted into the sample stream at the rate of 1 blank, 1 standard, and 1 duplicate every 40 samples. Each drill hole will include a minimum of 1 blank, 1 standard and 1 duplicate sample. Samples are dispatched by secure transport to the laboratory for gold and multi-element analysis following a chain of custody protocol.

The technical information in this news release was prepared under the supervision of Kevin Kivi P.Geo. Mr. Kivi is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information disclosed in this news release.

Shares for Debt Settlement

Further to its news release of March 15, 2021, that, the Company has now issued 350,000 common shares in the capital of the Company (the "Shares") at a deemed price of $0.20 per Share to a creditor for settlement of a debt in the amount of $70,000. All the Shares issued in connection with this shares for debt settlement are subject to a statutory hold period of four months plus a day ending on August 13, 2021 in accordance with applicable securities legislation.

About the Company

Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada and the Western Pacific. With an award-winning technical team and experienced management and board of directors, Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSXV: STA).

SANATANA RESOURCES INC.

(signed) "Peter Miles"

Peter Miles
Chief Executive Officer

For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com.

To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80439

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