Sanatana Announces Drill Program to Commence at the Jackfish Property
VANCOUVER, British Columbia, March 15, 2018 (GLOBE NEWSWIRE) -- Sanatana Resources Inc. (“Sanatana” or the “Company”) (TSX-V:STA) intends to undertake a 1,500 m drill program to test anomalous geochemical and structural targets with potential for gold and base metal mineralization on its Jackfish property, Northern Ontario. These drill targets arise from combining recently completed inversion modelling of geophysical data and property wide geochemical results and geological observations.
Peter Miles, President and CEO, states, “Since assembling the property package in June last year, the Company has swiftly taken the Jackfish property from a collection of isolated and seemingly disparate gold showings held by separate claim holders, to a single project developing a regional framework to make sense of the separate styles of mineral showings and past mines and form a coherent exploration strategy to work towards discovery of economic significance. The planned initial drill program will begin to test these ideas, with success leading to further drilling and other exploration activities on this target and the many other targets remaining to be tested on the property.”
In October 2017, Stratus Aeronautics completed a magnetic survey using cutting edge, drone (UAV) technology. This data was modelled by Campbell & Walker Geophysics using the UBC 3D inversion software and the Company received results of this work in January 2018. Abitibi Geophysics conducted a Horizontal Loop Electromagnetics (HLEM) survey in late December 2017 and this data was subsequently modelled through a 1D laterally constrained inversion (quasi-2D) process using invFDEM software produced by EMTOMO, with that work completed in early March 2018. The modeled HLEM data interprets a moderately conductive zone coincident with surface geochemical anomalies (of up to 769 ppm copper in soil and 14.9 g/t grab sample assay results) which is consistent with a structurally controlled alteration zone that cuts through magnetic lithological units. This zone will be the primary drill target in the planned drill campaign. Five separate bedrock anomalies will be drilled.
The current geological framework as interpreted by the Company and its consultants, and reinforced by the geophysics notes that the majority of the mineral showings and historical mining in the district coincide with structures that extend through and displace the granite/greenstone boundary. These observations are further reinforced at the Ontario Geological Survey (OGS) where recent mapping has also independently identified the importance of these structures. To our knowledge Sanatana will be the first group to purposely target portions of these structures with drilling.
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 that has optioned the Jackfish gold property in northwestern Ontario. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. 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
For additional information on the Company, please contact:
Mr. Peter Miles, President and Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com.
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.
