VANCOUVER, British Columbia, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Sanatana Resources Inc. (“Sanatana” or the “Company”) provides this exploration update.
SOLOMON ISLANDS UPDATE:
Sanatana is pleased to announce that the acquisition of the Tirua Project in the Solomon Islands has been conditionally accepted by the TSX Venture Exchange.
Over the summer months, Sanatana field crews have collected 504 soil samples. The samples are in the process of being transported to Vancouver and results will be reported once received by the Company.
The purpose of the sampling program was in part to sample a magnetic anomaly interpreted to be a possible porphry copper centre located 7 kms south-west of the focus of previous exploration and in part to infill previously defined arsenic and gold soil anomalies with the intent of generating drill targets.
Buddy Doyle, President, states: “I was fortunate to be able to visit the southern magnetic anomaly on my most recent project visit. This underexplored area, approximately 7 kms south of the bulk of the previous work, has been opened up by forestry and is therefore more accessible than it has been in the past. This part of the Tirua caldera is characterized by large areas of argillic and phyllic alteration outcropping in the streams which is consistent with our premise that this is a lithocap profile over a porphyry centre. Several lines of soil samples were taken from this area and the results may add further evidence that this is a target of interest.”
EMPRESS PROPERTY UPDATE:
Sanatana has commenced a 400m drill program at the Empress property located on the Northern shore of Lake Superior, 18 km east of Terrace Bay via Highway 17, within the Schreiber-Hemlo greenstone belt, Ontario.
The drill program is planned to test the sub surface gold mineralization potential down dip of a previously collected channel sample that returned results of 1.3 g/t Au over 16.2m (including 2.8m @ 5.3 g/t Au) that coincides with an IP anomaly. The gold mineralization is hosted by a silicified, sericitic and pyritic schist within the broader shear zone of the Empress Structure.
The Empress property is under option from Alto Ventures Ltd. (please see Sanatana’s news release dated June 20, 2019 for complete details)
The information in this news release was prepared under the supervisions of Troy Gill, BSc. MAIG, Exploration Manager for Sanatana. Mr. Gill is a Qualified Person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Technical Projects and has reviewed and approved the technical information disclosed in this news release.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company with an experienced management team and board of directors. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).
SANATANA RESOURCES INC.
(signed) “Peter Miles”______________
Peter Miles
President and Chief Executive Officer
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.