Santana Minerals Limited (ASX: SMI | NZX: SMI) — Strikes Bonanza Gold at Rise and Shine Stage 1, Visible Gold Confirms High-Grade Core
The Stock Connect
Price Sensitive Announcement $
Highlights:
- Outstanding results continue from within the high-grade core of the Rise and Shine (RAS) orebody, which contains the bulk of the deposit’s ounces
- Infill hole MDD528 has reduced drill spacing to 20m from nearest holes and returned a bonanza intercept of 24.4m @ 10.9g/t Au from 165.7m (true width 20.2m)
- Two additional sub-parallel intercepts from a stacked deeper zone in MDD528 include:
- 2.0m @ 89.5g/t Au from 197m (true width 1.7m) with abundant visible gold
- 3.0m @ 2.5g/t Au from 207m (true width 2.5m)
- MDD528 significantly improves the grade over the previous model from wider-spaced drilling, with the deeper 2.0m @ 89.5g/t Au zone confirming a sub-parallel high-grade trend accessible from the open pit
- Two additional infill holes, MDD526 and MDD527, returned intercepts consistent with previous drilling, confirming mineralisation continuity projected from the wider-spaced drill pattern and increasing confidence ahead of first ore scheduled to be mined:
- MDD526: 2.0m @ 8.5g/t Au from 172m and 10.0m @ 2.9g/t Au from 179m
- MDD527: 5.0m @ 1.3g/t Au from 176m and 11.0m @ 1.0g/t Au from 188m
- Mining consents under New Zealand’s Fast-track Act remain pending from regulators
Overview:
Santana Minerals has delivered another exceptional batch of infill drilling results from the Stage 1 area of its Rise and Shine gold deposit in New Zealand, with hole MDD528 returning one of the strongest intercepts in the project’s history and confirming that the high-grade core of the RAS orebody is both wider and higher-grade than previously modelled at wider drill spacings.
MDD528 was drilled as a tight 20m-spaced infill hole targeting the high-grade core of the RAS orebody, which hosts the bulk of the deposit’s ounces. The headline result of 24.4m @ 10.9g/t Au from 165.7m represents a true width of 20.2m — materially improving on the grade modelled from the surrounding wider-spaced drill pattern. Deeper in the same hole, two sub-parallel intercepts in a stacked zone added further excitement, including 2.0m @ 89.5g/t Au from 197m with abundant visible gold — confirming a high-grade sub-parallel trend that sits within the planned open pit envelope and adds meaningful grade upside to the Stage 1 mining scenario.
Elsewhere in the batch, infill holes MDD526 and MDD527 returned results consistent with existing modelling, confirming the continuity of mineralisation as projected from wider-spaced drilling and providing increasing confidence in the grade and geometry of the first ore scheduled to be mined. MDD526 delivered 10.0m @ 2.9g/t Au from 179m alongside a tighter 2.0m @ 8.5g/t Au hit, while MDD527 confirmed two mineralised zones — 5.0m @ 1.3g/t Au and 11.0m @ 1.0g/t Au — consistent with the broader ore envelope.
With every infill hole now improving confidence in both the grade and continuity of the high-grade core, the geological case for the Rise and Shine deposit continues to strengthen ahead of planned mining operations — subject to the receipt of mining consents from New Zealand regulators under the Fast-track Act, which remain outstanding.
Company Notes:
Santana’s CEO, Damian Spring, said: “More fantastic results enhancing and further de-risking our first mining area. Every hole we drill into our high-grade core just gets better. We continue however, to wait for the regulators in NZ to deliver our mining consents as expected under the Fast-track Act so this fantastic gold discovery and development option can provide for our shareholders, the community and the prosperity of the Country.”
About Santana Minerals Limited (ASX: SMI | NZX: SMI):
Santana Minerals is a dual-listed gold development company advancing its Rise and Shine Gold Project in New Zealand, one of the most significant gold discoveries in the country in recent years. The RAS orebody hosts a high-grade core that continues to be confirmed and enhanced by systematic infill drilling, with the Company advancing toward open pit mining operations subject to the receipt of mining consents under New Zealand’s Fast-track Act.
Disclaimer: This article is based on a company ASX announcement and is intended for general informational purposes only. It does not constitute financial advice. The Stock Connect may receive fees for content services. Readers should conduct their own research and consult a licensed financial advisor before making any investment decisions.
Full ASX Announcement: Santana Minerals Ltd Full ASX Announcement