More Gold on adjacent properties V.STA has put out a good press today dealing with results from three holes on lands adjacent to the Cote Lake deposit with a hole being 250 meters west of the nearest TRR hole. As many know STA is working to earning its 50% interest in adjacent claims (lands that were Augen Gold before TRR bought out them out).
This bodes well for both companies, more gold the better!
wallyz
p.s Buy, Hold and Win with both companies
Sanatana drills 18.5 m of 1.16 g/t Au at Watershed
2012-02-09 15:41 ET - News Release
Mr. Peter Miles reports
SANATANA REPORTS ON WATERSHED PROPERTY EXPLORATION PROGRAM-HIGHLIGHTS INCLUDE 18.5 M @ 1.16 G/T AU & 45 M @ 0.48 G/T AU
Sanatana Resources Inc. has released the first assay results from its 2011/2012 Watershed Property drill program described in its Oct. 19, 2011, news release. The Company has received assay results from the first three of the nine drill holes completed to date. The results of the remaining holes will be released after receipt from the assay lab and review by the Company.
The diamond drill program on Watershed Property mineral claim 3011820 was completed at the end of January 2012 comprised of nine drill holes totaling 4,195 metres. Initially, a 2,500-metre five drill hole program was planned to test subsurface IP anomalies and coincident gold values in surficial geochemical sampling of stripped bedrock outcrops. The Company was sufficiently encouraged from observations of the drill core early in the program to increase the amount of drilling to test more of the claim area. The details of collar locations can be seen Table 1 below.
Hole SR-11-01 was designed to test the primary IP target on line 16 at the eastern edge of the claim boundary. Hole SR-11-02 was drilled from the same location as the first hole but at a steeper inclination to intersect the IP target at greater depth down-dip. Hole SR-11-03 was collared 50 metres to the west on line 15 to test the IP target along strike; however, a significant interval of diabase dyke was encountered at the anticipated target depth.
To date, full geochemical sample results have been received for the first three drill holes only. Gold mineralized downhole intervals are provided in Table 2 below using a 0.3 g/t Au lower cut-off.
Based on observations recorded from the drill core and review of the multi-element geochemistry of the sampling, gold occurrence is thought to be associated with both higher grade but narrower quartz veins as well as in wider, lower grade disseminated zones of highly silicified altered host rock. Quartz lode vein gold has been mined in the region in the past at underground operations such as Young-Shannon 2 km northeast of the mineral claim.
The wider alteration system exhibits textures and mineralogy similar to that described by Trelawney Mining and Exploration Inc. (TSX VENTURE:TRR) ("Trelawney") at the Cote Lake deposit on Trelawney's adjacent property. Trelawney's nearest mineralized drill hole, E11-82, is located approximately 250 metres due east of the boundary of the Watershed Property mineral claim 3011820.
WATERSHED DRILL RESULTSHole From To Length Gold (m) (m) (m) (g/t)SR-11-01 22.4 23.0 0.6 0.48SR-11-01 50.0 51.0 1.0 0.36SR-11-01 94.4 95.8 1.4 1.23SR-11-01 116.1 117.0 0.9 0.37SR-11-01 125.0 125.7 0.7 0.72SR-11-01 133.0 134.0 1.0 0.40SR-11-01 199.0 204.0 5.0 0.34SR-11-01 238.5 257.0 18.5 1.16including 241.0 242.0 1.0 17.9SR-11-01 308.0 309.2 1.2 0.30SR-11-01 313.6 314.1 0.5 0.45SR-11-01 352.0 357.0 5.0 0.41SR-11-01 415.0 426.0 11.0 0.47SR-11-01 439.2 442.0 2.8 0.38SR-11-01 446.0 447.0 1.0 0.56SR-11-01 455.0 456.0 1.0 0.40SR-11-01 476.0 477.0 1.0 0.87SR-11-01 537.0 538.0 1.0 0.36SR-11-01 549.1 549.8 0.7 0.89SR-11-02 23.0 35.0 12.0 0.33SR-11-02 43.0 44.0 1.0 0.46SR-11-02 49.0 50.0 1.0 1.88SR-11-02 83.2 84.0 0.8 0.49SR-11-02 110.0 124.0 14.0 0.67SR-11-02 146.0 151.0 5.0 0.60SR-11-02 178.0 179.0 1.0 7.09SR-11-02 200.0 201.0 1.0 3.03SR-11-02 292.0 293.0 1.0 0.31SR-11-02 401.0 446.0 45.0 0.48including 424.0 425.0 1.0 18.7SR-11-02 472.0 480.0 8.0 1.21SR-11-02 537.0 538.0 1.0 0.34SR-11-02 542.0 543.0 1.0 0.35SR-11-02 548.0 548.7 0.7 0.31SR-11-02 549.2 550.0 0.8 0.42SR-11-02 595.0 596.0 1.0 0.39SR-11-03 1.0 3.0 2.0 0.42SR-11-03 28.3 28.9 0.6 1.82SR-11-03 63.0 65.0 2.0 0.67SR-11-03 101.1 102.0 0.9 0.34SR-11-03 209.0 210.0 1.0 0.31SR-11-03 233.0 234.0 1.0 1.69SR-11-03 247.0 255.0 8.0 0.33SR-11-03 320.0 321.0 1.0 0.66SR-11-03 360.0 361.0 1.0 0.43SR-11-03 404.0 421.0 17.0 0.39SR-11-03 433.0 434.0 1.0 0.31SR-11-03 438.6 439.1 0.5 0.65True widths of intersections are unknown at this time.Mineralized intervals are calculated using the weighted gold average basedon length of sample and a lower cut-off of 0.3 g/t, including low-gradezones no greater than 20 metres in length.
Peter Miles, Chief Executive Officer, stated, "We are very encouraged by the assay results from our first three drill holes. As a result, we intend to accelerate our work program significantly and our plan is to earn a 50% undivided interest in the Watershed claims by December 31, 2012, approximately 15 months earlier than the deadline defined in the Option and Joint Venture Agreement.
"Our 2012 work program will comprise drill testing of additional IP targets and surficial geochemical anomalies delineated and defined in the summer 2011 field program. In order to generate additional drill targets, IP and geochemical sampling over other prospective areas of the 19,006 acre Watershed property will also be undertaken. With approximately $3.7 million on hand, Sanatana is well financed to complete this program.
"We value our relationship with Trelawney Mining and Exploration Inc. (the parent company of Trelawney Augen Acquisition Corp.) and look forward to becoming both joint venture partners and the manager of the Watershed joint venture."
About the Watershed Property
Sanatana entered into the option and joint venture agreement for the Watershed Property with Augen Gold Corp. (as then was) on February 14, 2011 (the "Option and JV Agreement"). Augen Gold Corp. was subsequently acquired by Trelawney and renamed Trelawney Augen Acquisition Corp. ("TAAC"). The mineral claims comprising the Watershed Property are located within the Townships of Yeo, Chester, Neville and Benneweis in Ontario and total approximately 19,006 acres (the "Mineral Claims"). As summarized in the Company's news release of February 16, 2011, Sanatana has the option to earn a 50% undivided interest in the Claims (the "50% Interest") by paying to TAAC (formerly, Augen Gold Corp.): (i) $150,000 in cash, (ii) issuing 5,000,000 common shares over a two year period and (iii) incurring $5,000,000 in exploration expenditures over a three year period. Sanatana has the right to accelerate the above payments and expects to do so by the December 31, 2012. To date, Sanatana has (i) paid TAAC $150,000 in cash, (ii) issued TAAC 2,000,000 common shares and (iii) has incurred $2,100,000 in work costs as defined in the Option and Joint Venture Agreement.
Pursuant to the terms of the Option and JV Agreement if Santana earns the 50% Interest in accordance with the provisions set forth above, it will have the right to earn a further 1% interest in the Mineral Claims for a total undivided interest of 51% by completing and delivering to TAAC a pre-feasibility study on or before March 23, 2016. The parties will enter into a joint venture agreement for the Mineral Claims in accordance with the terms of the Option and JV Agreement upon the earlier of the date that (i) Sanatana vested the 50% Interest but has elected by notice to TAAC not to proceed to earn the 51% Interest and (ii) Sanatana earned the 51% Interest.
About the Sampling
Samples were collected from split NQ2 drill core at a nominal 1 metre interval breaking at major geological boundaries such that no sample interval was less than 0.5 metres or greater than 1.5 metres. The samples were submitted to AGAT Laboratories ("AGAT"), Sudbury ON for drying, crushing and pulverization in preparation for analysis of gold by Fire Assay and a suite of trace elements by ICP methods at the Mississauga ON facility. AGAT is accredited by the Standards Council of Canada, the Canadian Association for Laboratory Accreditation and QMI-SAI Global and is an ISO 9001 and ISO/IEC 17025 certified analytical laboratory. A rigorous QA/QC program was implemented as part of the sampling procedures throughout the drill program. Duplicate, standard and blank samples were inserted into the sample stream prior to being sent to the laboratory and the adherence of results to strict parameters was monitored.
We seek Safe Harbor.