Santana Minerals (ASX:SMI) resource definition drilling update

Santana Minerals Ltd (ASX:SMI) has announced encouraging results from resource definition drilling at its Come-in-Time (CIT), Srex (SRX), and Srex-East (SRE) prospects. The objective of the programs was to upgrade Inferred resources to the Indicated category, providing supplementary mill-feed for the upcoming Pre-Feasibility Study (PFS), in addition to the main Rise and Shine (RAS) discovery.

Executive commentary on resource definition drilling results

Santana CEO, Damian Spring, stated, 'Whilst these holes show that the CIT, SRX, and SRE prospects aren't another RAS, they show that a good quantity of supplementary feedstock is present and provide flexibility and additional longevity to the ensuing mining PFS. This drilling remains shallow and provides additional insights and potential for further blind extensions. We know from the nearby RAS deposit that the near surface mineralisation is also weaker and potential remains for these structures to bloom with depth, like RAS has done'.

Summary of resource definition drilling update and outlook

The resource definition drilling at CIT, SRX, and SRE prospects has yielded encouraging results, with significant intersections of gold mineralization. The updated resource estimate, expected in the December quarter, will contribute to the Bendigo-Ophir Pre-Feasibility Study. Santana Minerals aims to integrate the deposits into the PFS, providing flexibility and additional longevity to the mining PFS. The company remains optimistic about the potential for further blind extensions and the possibility of the structures blooming with depth, similar to the nearby RAS deposit.