Sanatana Drill Program Extends Known Mineralization at Oweegee Dome Porphyry Copper-Gold Project in BC's Golden Triangle

Rhea-AI Summary

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.

Positive

• Significant mineralization intercept of 44.9m at 0.55% Cu equivalent from 291m in hole OW-24-03
• Extension of known mineralization by 120m to the northwest
• Discovery of gold-enriched zones in OW24-04 indicating potential nearby copper zones

Negative

• Drill holes OW24-01 and OW24-02 returned no significant intercepts
• Post-emplacement faulting has displaced portions of the system

• Drill hole OW-24-03 reports 44.9m at 0.55% Cu equivalent from 291m
• Copper mineralization extended 120m to the northwest
• Alteration indicates nearby potassic centre
• Drilling indicates post-mineral thrust faults

Vancouver, British Columbia--(Newsfile Corp. - November 11, 2024) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") has received assays from its four-hole, 2,359m drill program at the Oweegee copper-gold porphyry project in Northern BC. Copper-gold mineralization intercepted in the 2024 drilling expands the footprint of the porphyry and confirms this Triassic-aged system has been affected by post-emplacement faulting that has displaced portions of the system.

Drilling at OW24-03 and 04 successfully targeted extensions to the known mineralization at Delta and extended the mineralized zone by 120 m to the northwest. Assay results are summarized in Table 1. Location and collar information for the 2024 drill holes is given in table 2 and illustrated in figure 1.

Table 1. Summary of assay results

Hole	From	To	Interval	Au g/t	Ag g/t	Cu %	Mo ppm	Cu Eq.%	Au Eq. g/t	US$/t
OW24-03	291.0m	335.9m	44.9m	0.20	1.96	0.32%	56.24	0.55%	0.6	$48.1
OW24-03	358.9m	378.0m	19.1m	0.34	2.87	0.09%	20.14	0.44%	0.48	$38.7
includes	349.0m	351.0m	2.0m	2.8
	374.25m	376.1m	1.85m	1.6
OW24-04	58.0m	78.35m	20.35m	0.2	0.7	0.05%	7.71
OW24-04	115.0m	144.0m	29m	0.14	0.41	0.04%	15.69
OW24-04	226.45m	240.4m	13.95m	0.37	0.69	0.01%	5.6
Includes	237.0m	239.0m	2.0m	1.3

 

Notes on Table 1: Assay >0.1% Cu, were grouped to form the intervals in table 1 where they were continuous with no gaps <0.1% Cu over 6m. To illustrate mineralized zones to aid in geological interpretation some intervals >0.1% Cu equivalent have been also included, especially for OW24-04. Copper equivalents are given for comparison purposes only. The equivalents are calculated based on the following US$ price assumptions: copper, US$4 per pound, US$8,818 per tonne; gold, US$2,500 per troy ounce, US$80 per gram; silver, US$30 per troy ounce, US$0.96 per gram; and molybdenum, US$20/kg. The copper equivalent is based on adding the US$/t values of Au + Ag + Mo together calculating what percentage copper this total represents and then adding this to the assayed Cu% value. It assumes 100% recovery which will not be achievable if mined and processed. The gold equivalent is calculated in a similar manner. Varying commodity prices will alter the copper and gold equivalent values. Samples were taken at a nominal 2m interval of diamond saw split HQ size core.

Drill holes OW24-03 and OW24-04 were collared 220 m northwest and at a 200m higher elevation than the most successful 2022 drill holes (see news release of December 19, 2022). The 2024 holes were drilled from the same pad, with OW24-03 oriented towards the 2022 holes at an azimuth of 120⁰ and a dip of -50 degrees. OW24-03 collared in volcanics and drilled into breccias and intrusives to 90 m and then Stuhini mudstones for the next 107m. This zone of mudstone is interpreted to be either a thrust slice or a large xenolith. The drill then encountered intrusives and intrusive breccias with Cu-Au tenors similar to those seen in 2022, which increases the footprint of mineralized body to the northwest. The drill hole exited the intrusives and intrusive breccias at 384.5m into Stuhini mudstones and volcanoclastics and terminated at 453m depth. See figure 2 for a cross-sectional view.

Drill hole OW24-04 was drilled with the same azimuth at a steeper dip of -75 degrees. This hole encountered volcanics, intrusives and breccias to 314.42m when it exited into the Stuhini mudstones and volcanclastics. The hole encountered gold elevated zones hosted in diorite/monozonite monolithic intrusive breccias similar to mineralization in OW24-03 and the 2022 holes and extends this rock type further to the northwest. Of note, the copper mineralization, observed to date at Delta is hosted in a monolithic diorite/monzonite breccia, but is contained within and has a smaller footprint than the breccia, coinciding with more intense phyllic alteration with a K-spar flood. The copper zone sits within a large gold zone (>0.1 g/t) that extends up to 50m past the copper zone. The gold zone in OW24-04 is interpreted to be such a gold halo, which would imply a copper zone is nearby.

Drill holes OW24-01 and OW24-02 tested the 1x2 km Junction IP geophysical anomaly and did not return significant intercepts. Physical properties of the drill core will be used to reconcile and refine geophysical model to improve future use of IP data.

Peter Miles, CEO commented, "Our 2024 drilling results continue to demonstrate that Oweegee Dome is a porphyry system that can produce significant copper and gold grades. We intend to form a 60:40 joint venture with ArcWest and further exploration will be focused to the north and west of our current drilling towards where we believe the porphyry centre lies."

Buddy Doyle, President said, "The holes drilled to test the Junction IP anomaly showed us the system does not extend south. Drill holes OW24-03 and OW24-04 extended the known rock host alteration and mineralization to the northwest where it dives under cover of the younger Hazelton group of rocks. We now think the alteration and mineralization we see at surface at Delta is only the southeast corner of a larger system that extends under thin cover (Hazelton). The task is now to explore under those cover rocks and get to the heart of the system."

Drill hole locations

Table 2: 2024 drill hole locations NAD83 Zone 9, with other hole parameters

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2534/229460_b0903a9e341a5b5f_001full.jpg

Figure 1: Plan view of 2024 drilling. 2,359 m were drilled in four holes. Sanatana drilled 6,038 m in 16 holes in 2022 and 2024.

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https://images.newsfilecorp.com/files/2534/229460_b0903a9e341a5b5f_003full.jpg

Figure 2: Cross section looking , Drill holes with lithology (pink/purple intrusives, Green and grays Stuhini mudstones, and volcanclastics. Copper assay historgrams to the right in blue, gold assay historgrams to the left of the hole trace. Surface is an orthophoto draped over topography.

To view an enhanced version of this graphic, please visit:
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Assay Methods and QA/QC

The whole core was trucked from the project after a quick log to be detail logged and sampled at Nugget Expediting's yard and facilities. A diamond saw was used to split HQ diameter core in half, with one-half of the core put back in the core box and the other half sampled. Samples where cut at a nominal 2m interval. One standard, one blank and one duplicate sample were added to each batch of 40 samples and then sent by freight to the MSA laboratory in Prince George by chain of custody.

For gold, 500g aliquots of the pulverized core where subject to photon assay. A separate, 30g aliquot, was split off for 56 multi-elements using ICP, four-acid digestion. The added standards were too small for the photon assay, but were used in the ICP. The standards, duplicate and blanks returned results within the expected tolerances of the method as were the internal standards used by the laboratory. Fire assays are pending; if they are significantly different from the photon assays, which is not expected, this will be reported.

Qualified Person

The technical information in this news release was prepared under the supervision of Buddy Doyle B. App. Sc. Geology, FAUSIMM. 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 with an experienced management team and board of directors. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).

Sanatana's principal project is the Oweegee Dome copper-gold porphyry property which the Company optioned from ArcWest Exploration Inc. (see the Company's news release dated July 21, 2021). The Oweegee Dome copper-gold porphyry property is situated 40 km east of the KSM - Brucejack -Treaty Creek cluster of base and precious metal deposits and is underlain by similar geologic conditions, Stuhini Group (Triassic age) host rocks, intrusions of the right age, alteration and porphyry style copper - gold - silver - molybdenite mineralization.

SANATANA RESOURCES INC.

(signed) "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.

To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.

Cautionary Statement Regarding "Forward-Looking" Information

Mineralization hosted on adjacent, nearby or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

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 fourth tranche of the Private Placement, the use of funds, and stock exchange approval for the overallotment.

Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control including, but not limited to, regulatory approval for the Warrant Extension. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229460

FAQ

What were the main results from Sanatana Resources' 2024 drill program at Oweegee?

The main result was a 44.9m intercept grading 0.55% Cu equivalent from 291m in hole OW-24-03, and the extension of known mineralization by 120m to the northwest.

How many meters were drilled in Sanatana's 2024 Oweegee program?

Sanatana completed a four-hole program totaling 2,359 meters at the Oweegee copper-gold porphyry project.

What were the copper equivalent calculations based on in the 2024 Oweegee results?

Copper equivalents were calculated using US$4/lb copper, US$2,500/oz gold, US$30/oz silver, and US$20/kg molybdenum, assuming 100% recovery.