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.

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 his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.