A 5,000 m contract with Atlas Drilling has been signed and drilling will commence as soon as conditions allow, likely in later June
The initial target will be the Molloy Zone, a monzonite intrusion with porphyry-style quartz-chalcopyrite stockwork veins which averaged 0.35% Cu, 0.829 g/t Au and 4.15g/t Ag from 15 samples collected in 2021
Contracts secured with drilling, helicopter, geophysical and camp providers, fieldwork is scheduled to begin June 1, 2022
Sanatana has secured GeologicAI to assist with core logging by using infrared and x-ray scans to collected maximum information from drill core
Private placement announced to raise gross proceeds up to $2.7 million
Vancouver, British Columbia, Canada, April 22, 2022. Sanatana Resources Inc. (“Sanatana” or the “Company”: TSX-V: STA) has completed the majority of the preparations required to carry out the 2022 exploration program on its Oweegee Dome project (“Oweegee”). Sanatana also announces a private placement that is expected to raise gross proceeds up to $2.7 million which will be used to fund the upcoming drill program at Oweegee.
Peter Miles, Sanatana’s CEO commented, “Sanatana is pleased to announce the 2022 exploration and initial drilling program at Oweegee. We have assembled an outstanding team for the 2022 exploration program and, with the funds we have on hand and with the strong endorsement from Teuton Resources’ recent investment in the Company, we are well positioned for an exciting initial drill program at Oweegee. Porphyry copper gold deposits are company makers and our drilling and exploration at Oweegee will be closely watched by both investors and mining industry veterans alike.”
Oweegee Exploration Program
Sanatana’s management proactively began securing contracts for the 2022 exploration program for Oweegee in late 2021. The Company is pleased to report that all essential services have been secured for a 5,000 m drill program at Oweegee starting as soon as snow conditions allow. Field crews are scheduled to start on June 1, 2022.
A 5,000 m drill contract has been signed with Atlas Drilling to provide a helicopter-portable drill rig capable of drilling in excess of 500 m hole length of HQ core. Drilling will initially focus on geochemical and geophysical targets at the Molloy monzonite which hosts the strongest Cu-Au mineralization identified to date, but has never been drill tested.
Prior to drilling, field crews will be tasked with mapping and prospecting lower elevation areas of interest as well as preparing drill and helipad locations. Timbers for drill pad construction were delivered at the end of 2021 and are in position to be built at the first pad. Additional timbers have been pre-ordered and will be delivered throughout the summer.
Geophysical Induced Polarization (IP) surveying is scheduled to start in early July 2022. The 2022 lines will expand on the previous year’s 3 x 1.6 km survey area around the Molloy zone as well as multi-kilometre reconnaissance IP lines at the Glacier and Skowill prospects. Results from the 2021 3-D IP survey revealed several anomalies with the most interesting anomaly being a high chargeability halo surrounding the Molloy monzonite (see Figure 1 below) which is interpreted to be a pyrite halo, a common characteristic of porphyry deposits.
Figure 1. IP chargeability at 200 m below surface and proposed 2022 drill pads
The Molloy copper bearing monzonite outcrop indicated in dashed red
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