Santana Minerals Upgrades Indicated Gold Resource in New Zealand To 1.45Moz

Santana Minerals Ltd (ASX:SMI) has upgraded the gold resource at its Rise and Shine discovery (RAS) in the Bendigo-Ophir Project in New Zealand.

Ongoing infill drilling has seen the indicated resource category grow to 19.1 million tonnes at 2.4g/t gold containing 1.45 million ounces, an increase of 152,000oz.

Notably, the total mineral resource estimate for the RAS deposit of 2.22 million ounces is now over 65% in the indicated category.

June 2024 MRE Estimates.

PFS due in December quarter

This sets a solid platform as Santana advances its pre-feasibility study (PFS) which is due early in the December quarter of 2024.

To further enhance and demonstrate growth and likely disturbance areas for permitting, Santana’s rigs have moved to infill drilling the upper portions of the Shreks, Shreks East and Come in Time deposits to indicated category.

This is expected to enable mine design and scheduling of these deposits to be included within the PFS and development plans for permitting.

Advancing toward production

Santana CEO Damian Spring said: “This is yet another positive outcome as we progress this robust new discovery toward production.

“Our extensive baseline and other required technical studies required for permitting under the RMA are advancing well and we are very confident the benefits of this project are compelling.

“We can’t wait to advance our studies through to a final mining decision and bring this significant project online to the benefit of the New Zealand economy, the people of Otago, and of course our shareholders.”

 

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