Sanatana Reports Longest Drill Intercept to Date and Confirms Multiple Porphyry Prospects at Oweegee Dome
Highlights:
Longest intercept to date from drill hole OW-2022-09, 196m at 0.20% copper equivalent, part of the Delta Ridge copper-gold mineralized zone
Highest-grade intercept as previously reported in OW 2022-08, 112.18 m at 0.33% Cu equivalent
Results highlight three separate areas of copper-gold mineralization: Delta Ridge, Molloy, Snowpatch
Oweegee mineralized footprint expanded to a 2km by 4.5km area
Multiple high-priority drilling targets identified.
Vancouver, British Columbia, Canada, March 6, 2023 – Sanatana Resources Inc. (TSXV: STA) (“Sanatana”, the “Company”) is pleased to report remaining assays for the 12-hole drill program completed at the Oweegee copper-gold project.
The 2022 drilling program consisted of 3,679m in 12 holes which tested a variety of geochemical, geological and geophysical targets within a broad 2 by 4.5 km area (Figure 1). Initial exploration drilling at the Molloy, Snowpatch and Jack Creek prospects returned the intercepts shown in Table 1. Drilling at Delta Ridge confirmed and expanded the area of known mineralization and included in drill hole 8 (previously reported) a 112.18 m interval grading 0.22 g/t Au, 0.17% Cu and 1.10 g/t Ag, for a 0.33% Cu equivalent from 58.4 m depth and, in drill hole 9, an interval of 196m grading 0.13g/t Au, 0.09% Cu and 1.5g/t Ag, for a 0.20% Cu equivalent from 4m depth. Complete tabulated results are summarized in Table 1.
Peter Miles CEO commented: “We are pleased that the 2022 exploration program has proven that the Oweegee project has multiple copper-gold bearing porphyry phases, is large being over 4 kilometres across and contains economically significant copper and gold tenors. Holes 8 and 9 are the best results to date at Oweegee. Moving forward, Sanatana’s management team believes that Oweegee is one of the largest underexplored porphyry targets in the Golden Triangle. With less than 6,000m drilled to date and close proximity to highway 37 and the Northwest Transmission line, the project remains highly prospective. With our 2022 drill results, IP and geological understanding, we have compelling drill targets for our 2023 exploration program. Furthermore Sanatana’s management believes that, as the world electrifies, copper projects in stable jurisdictions, close to infrastructure will become ever more valuable.”
Buddy Doyle, President, added “The drilling and field mapping exploration programs highlight at least five centres of mineralization at Oweegee. At Delta we saw “B” veins and intense phyllic alteration hosting copper-gold mineralization over long intervals with a higher silver to gold ratio.
At Molloy, we saw copper-gold mineralization hosted by “A” veins in an intrusive older than the one hosting copper at Delta with a lower silver to gold ratio. At Snowpatch, one hole successfully tested an IP anomaly and we encountered numerous breccia zones with elevated gold. All results suggest that we are high up in multiple systems with probable higher-grade potassic alteration zones being somewhat deeper, likely within 500m. Oweegee is an alkalic porphyry system similar to other porphyry systems in BC. I am impressed that, in two short field seasons, our team has proven this as a multi-source large porphyry system capable of carrying good grades. Our results are compelling and indicate the need to drill deeper at Delta as well as to test our new IP targets.
Drill Program Summary
During the summer 2022 field season from July 29 to August 18, Sanatana undertook its first drill program on the Oweegee property completing 12 core holes totalling 3,679.0 metres. All 12 holes were drilled at the Delta prospect area targeting six independent geophysical and/or geochemical anomalies.
Copper equivalent grades (%CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data is available. Metal prices are US$3.50/lb copper, US$1,700/oz gold and US$19/oz silver, using the formula: %CuEq = Cu grade + (Au price x Au grade + Ag price x Ag grade)/31.104/(Cu price x 22.046) results rounded to the nearest significant number, two decimal places. True widths are not known.
The 2022 drilling program confirmed the presence of multi-mineral systems at Oweegee, specifically at least three distinct areas of mineralization, each having distinct characteristics:
a) Delta Ridge
b) Molloy
c) Snowpatch
Delta Ridge
The Delta Ridge, copper gold mineralized zone was first located by the historic drilling. Table 2 lists those historic intercepts along with our recent results. The recent results extended the zone to the east and gave the highest grades and longest intervals to date.
Note:- The historic drill campaigns in 1996 and 2007 used a high detection limits for silver and therefore are not reported here.
The mineralization at Delta Ridge is hosted in a fine-grained Monzonitic intrusion in a predominantly monomict breccia with a monzonite matrix. There are scattered zones of polymictic breccia 2m to 5m wide within the longer intervals. The alteration is moderate to intense phyllic, or QSP (quartz, sericite, pyrite) alteration in places it causes total textural destruction of the host rock. The higher grade >0.2% Cu zones are highlighted by the presence of a weak “B” vein stockworks. There is a hint in the petrology and the geochemistry that the QSP alteration is overprinting an earlier K-spar flood. The historic drill logs suggested the mineralization was hosted in a crystal tuff, however petrological work from the historic core confirms this is a monzonitic intrusive.
With the “B” veins, the QSP alteration and some of the other pathfinder elements, molybdenum and rhenium, the Delta ridge prospect is consistent with being in the phyllic zone above a porphyry copper system. Drilling deeper will likely get into the higher temperature and grade potassic alteration. The mineralization is open to the east and west and at depth. Noteworthy is that all the copper gold intercepts at Delta ridge are hosted within a larger gold halo of greater than 0.1g/t as shown in Table 3. This will aid in vectoring toward the core of mineralization.
Molloy
In 2021 the Molloy zone was identified as a drill target with 15 samples averaging 0.34% Cu 0.829 g/t Au and 4.15 g/t Ag over 145 metres of strike and 42 metres at its widest point. The outcrop becomes obscured to the southwest along strike by talus and alpine heather which is underlain by anomalous copper-gold values in soils. Looking at the higher-grade samples, 11 from Molloy averaged 0.44% Cu 1.13 g/t Au and 5.54 g/t Ag across 125 metres of strike and 22 metres at its widest point. The best sample was 1.09% Cu, 3.8 g/t Au and 15.25 g/t Ag. The Molloy Zone is flanked by a strong 400 by 400 metre Cu-Au soil anomaly where assays returned up to 0.1% Cu and 0.9 g/t Au in soil (see news release December 7, 2021).
Drill hole OW-2022-01 was drilled 458m from a ridge to the west towards the Molloy outcrop where it intersected a polymictic diatreme breccia with anomalous copper and gold values. Subsequent holes, OW-2022-03, 04, 05, 06, and 07, were drilled from a pad on the southern toe of the Molloy outcrop area,
Drill hole OW-2022-04 had the best intercept, with 25m at 0.18% Cu equivalent. Short gold-copper mineral zones were encountered in all holes, but at a lower tenor that encountered in the outcrop. The mineralization is hosted in a K-spar flooded, QSP altered intrusive rock. It is distinct from that encountered at Delta Ridge, exhibiting a weak stockwork of “A” type veins and malachite staining, with a lower silver to gold ratio. The host intrusive is truncated to the east by numerous late, post-mineral crowded porphyry intrusives and to the west by a polymictic diatreme breccia, as encountered in drill holes OW-2022-01 and OW-2022-07. Subsequent high-angle rope-assisted field mapping to the west of the Molloy outcrop located the diatreme breccia at surface. Molloy is still open to the south and the north and there is a prominent shallow IP anomaly in the north that warrants further testing.
Snowpatch
Drill hole OW-2022-12 targeted a pipe-like IP anomaly at the Snowpatch area almost 2 km west of the of the Delta prospect. From 255m onwards to 435m, a series of polymictic breccias was encountered with moderate disseminated pyrite in the matrix, which are thought to explain the IP anomaly. The breccias contain elevated gold and copper mineralization summarized in Table 4.
These polymictic breccias contain fragments of intensely potassically altered intrusives rock with “B” veins and chalcopyrite and hint at a system below.
QC/QA Statement and Qualified Person
Diamond saw split HQ size samples, nominally 2m in length, were sent to MSA prep laboratory at Terrace, BC by chain of custody. After preparation the samples were sent to MSA laboratories at Langley, BC, an ISO 9000 registered lab. Pulps from the core were fire assayed for gold with an ICPMS, 30g aliquots, finish and for 56 multi-elements using ICP using a separate 30g aliquot, four-acid digestion.
Sanatana uses independent standards to check the assays process,
The technical information in this news release was prepared under the supervision of Buddy Doyle B.App Sc Geology, MAUSIMM. Mr. Doyle is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information disclosed in this news release.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada. With an award-winning technical team and experienced management and board of directors, Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).
About Oweegee Dome
Oweegee Copper-Gold project is located in northern BC’s Golden Triangle and is transected by Highway 37 and the Northwest Transmission line. Neighbouring projects include Seabridge Gold’s KSM supergiant porphyry Cu-Au cluster, Newcrest’s Brucejack gold-silver mine and Tudor Gold’s Treaty Creek project. The Oweegee Cu-Au project is hosted in a geologic environment only recently recognized as similar to other known large copper-gold porphyry deposits in British Columbia.
The 2022 drilling program consisted of 3,679m in 12 holes which tested a variety of geochemical, geological and geophysical targets within a broad 2 by 4.5 km area.
SANATANA RESOURCES INC.
“Peter Miles”
Peter Miles
Chief Executive Officer
For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com.
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Cautionary Statement Regarding “Forward-Looking” Information
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements related to the Company’s exploration program for Oweegee.
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