Welcome!

News Feed Item

Sanatana Announces Exploration Drilling Results on the Clam Lake Property, Including 5.0 Metres @ 63.2 g/t Au From 143.0 Metres

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/02/14 -- Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has received a report from Trelawney Mining and Exploration Inc. ("Trelawney"), a wholly owned subsidiary of IAMGOLD Corporation, entitled "Report on Exploration Activities on Clam Lake Property - 1st Quarter 2014". The report summarizes the results from exploration activities conducted on the Clam Lake Property by Trelawney received during the period from January 1 to March 31, 2014, including a mineralized interval from one drill hole grading 63.2 g/t Au over 5.0 metres from a down hole depth of 143.0 metres. A description of the Clam Lake Property along with a summary of the exploration results are summarized below.

Description of the Clam Lake Property

The Clam Lake Property consists of unpatented mining claims 4240522, 4241016 and 4220425 situated in Yeo and Chester townships, Ontario. The Clam Lake Property is held under the terms of a Mining Claim Acquisition Agreement (the "Acquisition Agreement") pursuant to which Trelawney holds a direct 80% interest. The remaining 20% undivided legal and beneficial interest in the Clam Lake Property (the "20% Interest") forms part of the Watershed Property and is held for the benefit of Sanatana and Trelawney Augen Acquisition Corp. ("TAAC'") pursuant to the option and joint venture agreement between Sanatana and TAAC dated February 14, 2011.

The 20% Interest is identified as a "carried interest" under the Acquisition Agreement and is defined to mean that until completion of a positive prefeasibility study, all costs and expenses of the exploration programs, preparation and filing of assessment reports and other obligations relating to the Clam Lake Property are the sole and exclusive obligation and liability of Trelawney and Sanatana will not have any obligation or liability in respect thereof.

Summary of the Exploration Results

Prospect scale mapping, rock sampling and drilling work completed in late 2013 focused on three priority target areas: the Baxter trend, the South IP Anomaly and the Hopkins Trend. Three drill holes (total of 892.5m) were completed to test the targets at depth and assay results from sampling of the drill core were recently received (see below tables and map).

Table I: Clam Lake Diamond Drilling Program

----------------------------------------------------------------------------
                         UTM Zone 17                                        
                         Location(i)                                        
              ----------------------                                        
                  Easting   Northing                                        
Hole                  (m)        (m)         Azimuth             Dip  Length
----------------------------------------------------------------------------
CLM13-01          427,629  5,267,594      200 degrees    -50 degrees  352.5m
----------------------------------------------------------------------------
CLM13-02          427,505  5,266,878      178 degrees  -45.7 degrees    270m
----------------------------------------------------------------------------
CLM13-03          427,860  5,266,190      325 degrees  -50.2 degrees    270m
----------------------------------------------------------------------------

(i)Note - Drill hole collar locations are derived from maps Trelawney provided to the Company and are approximate only.

The highlight of the program was hole CLM13-02 which intersected a shear zone carrying disseminated to stringer sulphide mineralization from 139.5 to 148m (8.5m core interval), including a 3.0m interval of quartz veining and silicification containing some visible gold. This zone returned an intersection of 63.2 g/t Au / 5.0m (uncut), or 16.6 g/t Au over 5.0m (capped at 25g/t Au). The intersection occurs at a vertical depth of approximately 100m and the true width is estimated at 2.5 metres.

Table II: Summary of Significant Drill Results

----------------------------------------------------------------------------
                                          True          Au g/t              
                     From    To Interval width     Au   (cut @              
Hole     Target       (m)   (m)      (m)   (m)    g/t  25 g/t) Comments     
----------------------------------------------------------------------------
CLM13-01 Baxter                                   NSR          Predominantly
         trend                                                 altered      
         below Pit                                             tonalite.    
         A                                                                  
----------------------------------------------------------------------------
CLM13-02 E-F Zone,  143.0 148.0      5.0   2.5   63.2     16.6 Sulphide /   
         east edge                                             deformation  
         of IP                                                 zone with po,
         anomaly                                               py, cpy and  
                                                               visible gold.
                                                               on 3m.       
----------------------------------------------------------------------------
CLM13-03 Hopkins                                  NSR          Sheared      
         Zone                                                  altered      
                                                               tonalite     
                                                               201.5-       
                                                               209.25m.     
----------------------------------------------------------------------------

NSR = No Significant Results.

Peter Miles, Chief Executive Officer of Sanatana stated: "We congratulate Trelawney for completing an encouraging drill program on the Clam Lake Property. The gold tenor and shallow depth of the mineralized intersection speaks to the substantial upside potential for new discoveries within the relatively under-explored Cote Gold District."

Sanatana previously drilled similar intersections of sheared and silicified sulphide mineralized zones with varying gold grades and visible gold within 500 m east and west of hole CLM13-02 on mining claims 3011820, 3017672 and 3018412 of the Watershed Property (see Sanatana's news releases dated June 19, 2012; June 20, 2012 and January 10, 2013).

Trelawney further reported that it is conducting a study of the geological structure and alteration as well as the geophysical signature of the mineralized intersection to help design a follow up drill program. A work permit covering the entire Clam Lake Property is already in place to allow Trelawney to conduct further exploration drilling, especially covering an IP Chargeability anomaly located immediately west of the drill intersection in hole CLM12-02.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/sta0602map.pdf.

Sampling and Qualified Person

Trelawney reported that assay results from the drilling program were received and validated during the period between January 1, 2014 and March 31, 2014.

The technical portions of this news release were reviewed and approved by Troy Gill BSc. MAIG, Exploration Manager for the Company, a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About the Company

Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property consisting of 46 mining claims totalling approximately 19,006 acres and located within the townships of Yeo, Chester, Neveille and Benneweis. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.

In June 2012, IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. In addition to the Watershed Property, Sanatana also has mineral exploration property in Saskatchewan. 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 VENTURE:STA).

SANATANA RESOURCES INC.

Peter Miles, President and Chief Executive Officer

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press 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.

Contacts:
Sanatana Resources Inc.
Mr. Peter Miles
President and Chief Executive Officer
604-408-6680 or Toll Free: 1.877.881.6680
604.608.9500 (FAX)
[email protected]
www.sanatanaresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...