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Santana Minerals Ltd.
Summary
| Project: | Cuitaboca | |
|---|---|---|
| Deposit: | Mojardina | |
| Location: | Mexico | |
| Commodities: | Silver-Zinc-Lead | |
| Date: | 11/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-11-2016: Santana Minerals Ltd. announces an Exploration/Drilling Update report for its Mojardina deposit at the Cuitaboca project. Drilling results incl. 52m @ 127g/t Ag from 0m. 28 November, 2016. Santana Minerals Limited (“Santana”) is pleased to ann | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jason Beckton (Internal) | |
| ABSTRACT: | 28 November, 2016. Santana Minerals Limited (“Santana”) is pleased to announce further Reverse Circulation (RC) Drill results from the Mojardina Loop area of the Cuitaboca Project in Sinaloa, Mexico. Drill assays from Holes 23 (RC16CT-23) and 24 (RC16C-24) have returned high grade silver intercepts at the Las Animas flexure on the northern portion of the Mojardina Loop. The 52m intercept of continuous mineralisation (>20 g/t Ag) from surface in hole 23 serves to define a new high grade shoot within the broad and continuously mineralised flexures of the Mojardina Loop. Reported results now include all 10 drill holes as planned for the current program at the Mojardina Loop. Additional results will follow in the coming weeks from the other target areas of the total 24 planned drill hole program. The current program stated the objective for the Mojardina Loop area as being to extend the strike and depth extent of the higher grade zones. The program has achieved that objective but has not yet found the external limits at depth or along strike. The Cuitaboca Project is in an area covered by the 5,500 Ha mining concessions and consists of a series of veins with sulphide mineralisation carrying high grade silver and low grade polymetallic minerals. The area is dominated by andesite flows and tuffs of the lower volcanic group with minor rhyolites of the upper volcanic group at higher elevations. The main vein structures are La Lupita – El Pinal, La Piedrita and Blanca Esthela prospects in the north of the Cuitaboca Project, Los Sapos, Chapotal, La Plata, Colateral and Jesus Maria in the Central Sector and the Mojardina and Santa Eduwiges vein systems in the Southern sector. Santana has a contractual right to earn to an 80% interest in the Cuitaboca Project through a combination of work commitments and payments following which it enters into a joint venture on an 80:20 contribution basis. | |
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