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Santa Fe Minerals Ltd.
Summary
| Project: | Challa North | |
|---|---|---|
| Deposit: | Challa North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-8-2018: Santa Fe Minerals Ltd. announces an Exploration/Drilling Update report for its Challa North deposit at the Challa North project. Drilling results incl. 18m @ 75ppb Au from 15m. Santa Fe Minerals Ltd (ASX: SFM) (SFM, the Company) is pleased to pr | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mark Carder (Internal) | |
| ABSTRACT: | Santa Fe Minerals Ltd (ASX: SFM) (SFM, the Company) is pleased to provide the following exploration update, including results from the recently completed RC drilling program at its Challa North Gold project. Extensive prospecting activity has been witnessed across the Paynesville Gold trend. Prior exploration in the area has been hampered by the extensive residual cover. Previous Air-Core drilling programs conducted in the area have been limited and struggled to penetrate the cover. SFM chose to carry out its first pass regional program utilising a Slim-Line Reverse Circulation Rig, in order to take a reliable sample of the insitu rock. The Company completed a total of 27 shallow Reverse Circulation (RC) drill holes separated by 100-200m spacing along two east-west drill lines (refer to “Northern SFM RD Drill Line” and Southern SFM Drill Line” at Figure 1). The drill hole spacing and orientation was determined by proximity to interpreted large-scale geophysical structures (100m spacing near interpreted structures) within an average drill hole depth of 45m with the deepest hole (PCRC10010) of 72m; drill hole depth was determined by the extent of weathering to acquire a fresh sample for whole rock multi-element analysis for future geochemical modelling. The east-west drill lines were located to intercept both the interpreted major north-south striking and the northwest-southeast structures highlighted in the UTS 100m multi-client aeromagnetic data. Initial interpretation of the received assay data for Au mineralisation show robust gold intercepts (up to 225ppb) associated with the northwest-southeast striking geophysical structures. Several holes listed in Table 1 below report anomalous Au assays above 100ppb for the 3m composite samples submitted for assay; the 1m sample interval bags have been retained and will be re-assayed as 1m intervals to improve resolution of anomalous gold values to host mineralisation. The re-assayed anomalous Au assays and multi-element data will be included in a broader dataset to model the key structural characteristics to target potential large-scale primary gold mineralisation within the Paynesville gold trend | |
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