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
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that T-Mobile 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. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, 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. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
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, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...