Mr. Peter Miles reports
SANATANA PROVIDES EXPLORATION UPDATE ON THE WATERSHED PROPERTY
Sanatana Resources Inc. has provided this exploration update for the Watershed property.
The company has completed an infill drill program around the Clam Lake prospect on its 17.6-hectare mineral claim No. 3011820. The drill program was designed to gain a better understanding of the recently discovered gold mineralization at Clam Lake hosted by strongly silicified and brecciated intrusive rocks, associated with an east-west-trending, subsurface, apparent resistivity anomaly. As described below, Sanatana has earned a 50-per-cent interest in the Watershed property and has an option to earn a further 1-per-cent interest on completion of a prefeasibility study with its partner Trelawney Augen Acquisition Corp. (TAAC), a company 100 per cent owned by Iamgold Corp.
Peter Miles, president and chief executive officer, stated: "With the completion of our recent drill program, Sanatana has gained a much better understanding of the mineralization on claim No. 3011820 adjacent to the Cote gold deposit. Sanatana's recent drilling has provided some of the best results to date, including intervals in drill hole SR-12-24 of 101.2 metres at 0.86 gram per tonne (g/t) gold (Au) and in drill hole SR-13-14 of 113.6 metres at 0.83 g/t Au.
"Going forward, Sanatana expects to continue to explore the Watershed property and collaborate with Caracle Creek International Consulting of Sudbury, Ont., to further develop our understanding of the mineralization we have encountered."
Sixteen drill holes were completed for a total of 4,805.8 metres on a grid layout among the previously completed nine drill holes to provide an overall spacing of approximately 50 metres between drill collars along lines 100 metres apart. Drill holes were oriented to the south and inclined 60 degrees or 70 degrees to horizontal with variable final depths dependent upon proximity to the southern claim boundary.
DEPTH
Hole ID Depth (m)
SR-12-23 500.8
SR-12-24 465.0
SR-13-01 273.0
SR-13-02 189.0
SR-13-03 270.0
SR-13-04 186.0
SR-13-05 93.0
SR-13-06 414.0
SR-13-07 282.0
SR-13-08 249.0
SR-13-09 222.0
SR-13-10 507.0
SR-13-11 201.0
SR-13-12 231.0
SR-13-13 261.0
SR-13-14 462.0
4,805.8
New intercepts of gold mineralization were encountered in most of the drill holes. The company will now commission an independent review, pursuant to National Instrument 43-101, of the drill hole data on the Clam Lake prospect from all 25 holes. The company will use the data to plan further work and to determine whether there is sufficient information to support a resource calculation under CIM categories. Caracle Creek International Consulting Inc. of Sudbury, Ont., has been selected to carry out this work.
DRILL RESULTS
From To Length Au Au cut
Hole ID (m) (m) (m) (g/t) (25 g/t)
SR-12-23 10.0 10.5 0.5 0.89 -
SR-12-23 35.3 36.4 1.1 0.32 -
SR-12-23 56.0 63.0 7.0 1.19 -
SR-12-23 56.8 57.7 0.9 5.73 -
SR-12-23 112.3 113.0 0.7 0.62 -
SR-12-23 123.0 124.0 1.0 0.65 -
SR-12-23 138.5 139.0 0.5 0.37 -
SR-12-23 245.0 245.7 0.7 0.31 -
SR-12-23 330.1 342.0 11.9 0.62 -
SR-12-23 339.0 340.0 1.0 6.23 -
SR-12-23 387.0 388.0 1.0 2.30 -
SR-12-23 399.5 400.2 0.7 1.31 -
SR-12-23 430.0 430.5 0.5 0.41 -
SR-12-23 487.0 488.0 1.0 0.35 -
SR-12-24 58.5 59.3 0.8 0.31 -
SR-12-24 78.1 79.0 0.9 0.64 -
SR-12-24 162.0 163.0 1.0 0.90 -
SR-12-24 194.1 197.0 2.9 0.62 -
SR-12-24 219.0 322.0 101.2 0.86 -
SR-12-24 283.8 284.3 0.5 11.60 -
SR-12-24 295.0 296.0 1.0 8.83 -
SR-12-24 296.0 297.0 1.0 6.21 -
SR-12-24 309.0 309.7 0.7 6.94 -
SR-12-24 309.7 310.7 1.0 16.40 -
SR-12-24 310.7 311.6 0.9 17.80 -
SR-12-24 343.0 345.0 2.0 1.06 -
SR-12-24 384.8 385.3 0.5 3.12 -
SR-12-24 446.0 447.0 1.0 0.53 -
SR-13-01 56.7 57.8 1.1 0.48 -
SR-13-01 109.8 111.0 1.2 0.67 -
SR-13-01 141.6 235.0 93.4 0.32 -
SR-13-01 226.0 226.8 0.8 15.6 -
SR-13-01 266.0 267.0 1.0 0.37 -
SR-13-02 15.0 26.9 11.9 0.40 -
SR-13-02 44.0 44.8 0.8 0.51 -
SR-13-02 115.8 178.3 62.5 0.30 -
SR-13-03 40.0 41.0 1.0 0.35 -
SR-13-03 56.0 76.0 20.0 0.46 -
SR-13-03 74.0 75.0 1.0 7.80 -
SR-13-03 134.0 135.1 1.1 2.45 -
SR-13-03 160.0 172.0 12.0 1.28 -
SR-13-03 160.0 161.1 1.1 9.63 -
SR-13-03 230.3 263.0 32.7 1.76 1.45
SR-13-03 257.9 259.0 1.1 8.96 -
SR-13-03 259.0 260.2 1.2 9.31 -
SR-13-03 261.9 262.4 0.5 45.10 25.00
SR-13-04 2.5 17.0 14.5 0.36 -
SR-13-04 29.0 30.0 1.0 0.35 -
SR-13-04 50.0 50.6 0.6 0.34 -
SR-13-04 67.0 67.6 0.6 0.57 -
SR-13-04 108.0 110.0 2.0 0.61 -
SR-13-04 129.0 174.2 45.2 0.31 -
SR-13-05 40.0 41.0 1.0 2.77 -
SR-13-06 189.2 190.5 1.3 0.36 -
SR-13-06 262.9 281.0 18.1 0.53 -
SR-13-06 274.0 275.0 1.0 4.23 -
SR-13-06 297.0 305.3 8.3 0.48 -
SR-13-06 301.1 302.0 0.9 2.46 -
SR-13-06 316.0 317.0 1.0 0.72 -
SR-13-06 324.0 386.4 62.4 0.31 -
SR-13-06 375.0 376.0 1.0 7.72 -
SR-13-07 26.9 77.0 50.1 0.40 -
SR-13-07 48.0 49.3 1.3 8.25 -
SR-13-07 154.8 155.8 1.0 0.53 -
SR-13-07 203.0 204.0 1.0 0.39 -
SR-13-08 11.0 12.0 1.0 0.83 -
SR-13-08 196.0 199.0 3.0 0.35 -
SR-13-09 151.1 172.5 21.4 1.14 -
SR-13-09 159.0 160.2 1.2 8.54 -
SR-13-09 172.0 172.5 0.5 9.17 -
SR-13-09 203.0 212.0 9.0 0.35 -
SR-13-09 203.0 203.6 0.6 3.67 -
SR-13-10 4.0 5.0 1.0 0.73 -
SR-13-10 16.0 17.3 1.3 0.33 -
SR-13-10 33.6 72.0 38.4 0.36 -
SR-13-10 59.5 60.0 0.5 5.58 -
SR-13-10 85.0 86.0 1.0 0.55 -
SR-13-10 88.0 89.0 1.0 0.31 -
SR-13-10 100.0 101.0 1.0 1.20 -
SR-13-10 125.0 126.0 1.0 0.48 -
SR-13-10 157.0 182.0 25.0 0.47 -
SR-13-10 158.0 159.0 1.0 7.06 -
SR-13-10 208.3 208.8 0.5 0.53 -
SR-13-10 233.0 240.0 7.0 0.34 -
SR-13-10 355.2 356.4 1.2 0.60 -
SR-13-10 430.0 432.0 2.0 0.73 -
SR-13-11 42.0 42.5 0.5 0.33 -
SR-13-11 69.0 70.0 1.0 0.48 -
SR-13-11 90.9 92.0 1.1 0.33 -
SR-13-11 98.0 99.0 1.0 0.97 -
SR-13-11 105.4 108.0 2.6 0.42 -
SR-13-11 144.0 145.0 1.0 0.34 -
SR-13-11 194.0 194.6 0.6 0.31 -
SR-13-12 12.0 18.0 6.0 3.87 2.28
SR-13-12 12.0 12.5 0.5 44.07 25.00
SR-13-12 40.8 42.0 1.2 0.32 -
SR-13-12 55.2 56.2 1.0 0.38 -
SR-13-12 58.0 58.9 0.9 0.39 -
SR-13-12 65.4 84.0 18.6 0.34 -
SR-13-12 108.0 109.0 1.0 0.66 -
SR-13-12 117.2 117.7 0.5 0.85 -
SR-13-12 125.0 126.0 1.0 0.78 -
SR-13-12 133.4 140.2 6.8 0.39 -
SR-13-12 181.0 182.0 1.0 0.42 -
SR-13-12 211.8 212.6 0.8 1.35 -
SR-13-13 66.0 67.0 1.0 0.82 -
SR-13-13 75.0 77.0 2.0 0.46 -
SR-13-13 81.0 82.0 1.0 0.40 -
SR-13-13 99.1 127.0 27.9 0.35 -
SR-13-13 170.0 187.2 17.2 0.36 -
SR-13-13 234.0 259.0 25.0 0.38 -
SR-13-13 255.0 256.1 1.1 5.62 -
SR-13-14 25.0 26.0 1.0 0.42 -
SR-13-14 28.0 30.0 2.0 0.37 -
SR-13-14 33.0 34.0 1.0 0.36 -
SR-13-14 36.0 37.0 1.0 0.67 -
SR-13-14 46.0 47.0 1.0 1.16 -
SR-13-14 131.0 132.0 1.0 0.31 -
SR-13-14 251.5 252.0 0.5 12.70 -
SR-13-14 280.0 281.0 1.0 0.58 -
SR-13-14 305.0 306.0 1.0 0.34 -
SR-13-14 307.0 308.0 1.0 0.41 -
SR-13-14 319.4 433.0 113.6 0.83 0.52
SR-13-14 415.8 416.3 0.5 17.20 -
SR-13-14 431.5 432.3 0.8 69.70 25.00
Notes:
1. True widths of intersections are unknown at this time.
2. Mineralized intervals are calculated using the weighted Au average based
on length of sample, a lower cut-off of 0.3 g/t Au and an upper cut-off
of 25 g/t Au, including low-grade zones no greater than 20 metres in
length.All but three drill holes (SR-13-01, -04 and -05) intersected barren diabase dikes that were intruded after the gold mineralization event. Some drill holes intersected quite long intervals of diabase (SR-13-08 equals 130 metres and SR-13-09 equals 140 metres combined). These occurrences of diabase rocks detract from the potential of intersecting gold mineralization in the prospective host country rocks or cause gaps in otherwise gold mineralized intervals. It is probable that in most cases, the drill holes intersected many of these dikes subparallel to their strike. Sanatana will work with Caracle Creek to incorporate these dikes into the geological model. In some cases, it might be necessary to complete further drilling more perpendicular to the dikes to fully determine their width and determine the extent of the gold mineralization around them.
Mineral claim No. 3011820, the Clam Lake prospect, lies adjacent and to the west of the Cote gold deposit, and the gold mineralization contained within shares many similarities to the Cote gold system, as has been publicly described. Like the Cote gold system, the Clam Lake prospect has gold mineralization hosted in intrusive breccias associated with silicification, potassium and sodic alteration with accessory copper, molybdenum and telluride mineralization. Some of the higher-grade intervals are associated with calcite quartz sulphide veins within the breccias, however, there are also many examples of barren veins of similar nature.
Sanatana's work on the Clam Lake prospect has shown that it is open to the west beneath Clam Lake itself and there is potential to expand the mineralization by winter drilling of the ice. The company plans to obtain permits to conduct this work. The gold mineralization also seems to extend off the property into other parties' ground to the east, north and south.
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 Feb. 14, 2011. Augen Gold Corp. was subsequently acquired by Trelawney and renamed 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. As summarized in the company's news release of Nov. 28, 2012, Sanatana has earned a 50-per-cent undivided interest in the claims by paying to TAAC: (i) $150,000 in cash; (ii) issuing five million common shares over a two-year period; and (iii) incurring $5-million in exploration expenditures. Sanatana has continued exploration of the Watershed property and at March 31, 2013, had incurred a further $3,253,000 in exploration expenditures, including a permitted administrative markup, that will be credited to the company's contribution to the first work program after formation of a joint venture.
Pursuant to the terms of the option and joint venture agreement, if Sanatana earns the 50-per-cent interest in accordance with the provisions set forth above, it will have the right to earn a further 1-per-cent interest in the mineral claims for a total undivided interest of 51 per cent by completing and delivering to TAAC a prefeasibility study, at Sanatana's sole cost, 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 joint venture agreement upon the earlier of the date that: (i) Sanatana vested the 50-per-cent interest, but has elected by notice to TAAC not to proceed to earn the 51-per-cent interest; and (ii) Sanatana earned the 51-per-cent interest.
About the sampling
Drill samples were collected from split NQ2 drill core at a nominal one-metre-interval breaking at major geological boundaries such that no sample interval was less than 0.5 metre or greater than 1.5 metres. The samples were submitted to AGAT Laboratories, Sudbury, Ont., 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, Ont., facility. Gold assay results measuring over 10 g/t are reanalyzed by fire assay using a gravimetric finish.
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 17025-certified analytical laboratory.
A rigorous quality-assurance/quality-control 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.
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