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
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
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.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., 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.