Welcome to our dedicated page for Sanatana Res news (Ticker: SADMF), a resource for investors and traders seeking the latest updates and insights on Sanatana Res stock.
Sanatana Resources Inc. is a mineral exploration and development company based in Vancouver, Canada. Focused on high-impact properties, the company is listed on the TSX Venture Exchange. Currently, Sanatana is mobilizing field crews for the Oweegee porphyry copper/gold prospect in BC's Golden Triangle to conduct a 3-D IP survey. The recent discovery of the East Bear Creek zone has expanded the mineralized footprint of the Delta Prospect, with significant copper, gold, and molybdenum mineralization encountered. With a range of untested high-priority drill targets and a dedicated technical team, Sanatana is at the forefront of exploration in the region.
Sanatana Resources (TSXV: STA) has secured a $200,000 promissory note from an arm's length lender, bearing 10% annual interest with monthly payments and maturing on December 31, 2025. The loan proceeds will fund the final option payment to acquire a 60% interest in the Oweegee Dome Project from ArcWest Exploration.
The company has successfully completed all required payments, share issuances, and exploration expenditures (approximately $7.2 million) under the Option Agreement, exceeding requirements by $600,000. Sanatana will become the initial operator of the Joint Venture with ArcWest (60-40 split). Both parties have 90 days to negotiate and finalize the joint venture agreement.
Sanatana Resources has reported results from its four-hole, 2,359m drill program at the Oweegee copper-gold porphyry project in Northern BC. Drill hole OW-24-03 intercepted significant mineralization, reporting 44.9m at 0.55% Cu equivalent from 291m. The drilling successfully extended the known mineralization at Delta by 120m to the northwest. Notable intercepts include 19.1m at 0.44% Cu equivalent in OW24-03 and multiple gold-enriched zones in OW24-04. The copper mineralization is hosted in monolithic diorite/monzonite breccia within a larger gold zone.
Sanatana Resources (TSXV: STA) has announced the resignation of Ian Smith from its board of directors, effective November 4, 2024. Mr. Smith has served on the board since January 2019. The company expressed gratitude for his contributions and extended best wishes for his future endeavors.
Sanatana Resources Inc. (TSXV: STA) has completed its 2024 drill program at the Oweegee copper-gold porphyry project in Northern BC, drilling 2,359m in four holes. Two step-out holes (OW24-03 and OW24-04) successfully expanded the Delta Zone, intersecting visible mineralization and stronger alteration to the northwest. Two other holes tested the Junction IP anomaly but did not clearly explain it. This program fulfills the requirements to complete 6,000 metres of drilling and spend $6,600,000 under Sanatana's option agreement with ArcWest. The company is now positioned to earn a 60% interest in the property by paying $300,000 in cash and issuing 700,000 common shares to ArcWest before December 31, 2024.
Sanatana Resources has appointed Chris Paul to its advisory board. Paul brings over 15 years of expertise in exploration and capital markets. He founded Ridgeline Exploration, later acquired by Goldspot Discoveries in 2021, and discovered notable porphyry systems such as Williams Cu-Au and Leviathan. His recent success in drilling for Hercules Metals in Idaho aligns with Sanatana's Oweegee project in BC. Sanatana has also awarded 4,650,000 stock options at $0.10 per share, with vesting stages over five years, to directors, officers, and key personnel. The stock options are part of the company's stock option plan and await regulatory approval.
Sanatana Resources (TSXV: STA) announced a 3,000 meter drill program at their Oweegee copper-gold porphyry project in BC's Golden Triangle, set to begin July 21, 2024. The drill will target the 1 km x 2 km Junction IP anomaly discovered in October 2023. CEO Peter Miles confirmed the mobilization of drilling crews on July 14, 2024, following a recent private placement. Consultant Jeff Kyba emphasized the project's potential, citing 2022 drill results and geological findings indicating a significant porphyry system. Drilling at the Delta Zone in 2022 intersected mineralized breccias, suggesting multiple mineralizing events linked to the Junction IP anomaly.
FAQ
What is the current stock price of Sanatana Res (SADMF)?
What is the market cap of Sanatana Res (SADMF)?
Where is Sanatana Resources Inc. based?
What is the focus of Sanatana Resources Inc.?
What recent project is Sanatana Resources Inc. working on?
What was discovered in the East Bear Creek zone?
What makes Sanatana Resources Inc. significant in the industry?
