Photo Release -- Santo Mining Reports 10.79 g/t Silver and 1.0%+ Copper on New Charles Claim in Dominican Republic
25 Abril 2013 - 9:35AM
Santo Mining Corp. (OTCQB:SANP),
(the
"Company"), is pleased to announce positive results from a
geochemical reconnaissance survey of its "CHARLES" exploration
application (the "Charles Claim") located in the Dominican Republic
"Tireo Formation". Rock samples collected by the Company
exploration team yielded a series of results up to 10.79 g/t Silver
and +1.0% Copper. The Charles Claim borders Goldquest's (TSX
VENTURE:GQC) renowned La Escandalosa claim.
A photo accompanying this release is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=18329
In 2012 Goldquest reported three bonanza drill intercepts just
2.5 km from the Charles claim which was reported as being the
largest gold discovery in the Dominican Republic in 20 years.
The 278 hectare Charles Claim is located in the gold, silver and
copper rich Tireo Formation and lies on the eastern border of
Goldquest's La Escandalosa. In March 2013 the Company's exploration
team, led by Elpidio Moronta, conducted a preliminary
reconnaissance and surface geochemical survey of the entire claim.
Stream sediment samples were collected from the Rio Guayabo, Rio
Piedra Blanca and its tributaries. Grab and outcrop rock samples
were collected and several samples from the Rio Piedra Blanca to
the North side of the "Loma Del Gajo Pelon" mountain along a 600
meter long by 2 meter wide mineralized vein. These rock samples
were dispatched to Acme Labs in Vancouver for multi-element and
fire-assay analysis and returned the following positive grades for
Silver and
Copper:
10.79 g/t Silver and >1% Copper |
10.57 g/t Silver and >1% Copper |
03.18 g/t Silver and >7,160 g/t
Copper |
02.27 g/t Silver and >6,832 g/t
Copper |
The Tireo Formation consists of an Upper Cretaceous package of
sedimentary and volcanic rocks including andersite, dacite,
mineralized quartz veins, volcanic breccias, diorite and
volcaniclastic silicification striking a NW/SE diagonal swath in
west Dominican Republic.
Ten years ago, Goldquest, in a joint venture with Goldfields
Ltd, carried out a regional geochemical and prospecting program
that identified several new areas of mineralization. Later,
Goldquest discovered several gold and copper mineralized areas in a
long 35 km group of concessions called Romero, La Escandalosa,
Jenjibre, Los Comios and Loma Viejo Pedro. Just 2.5 km NW of
Charles are four bonanza drill intercepts which are reported on
Goldquest's website as
follows:
|
Hole 90: 231m grading 2.41 g/t Gold
and 0.44% Copper |
|
Hole 92: 159m grading 4.45 g/t Gold
and 0.95% Copper |
|
Hole 93: 258m grading 4.50 g/t Gold
and 1.30% Copper |
and most recently 235m grading
7.88 g/t Gold and 1.43% Copper |
According to Company President, Al French, "The Acme Lab results
confirm a highly prospective area for Silver, Copper and potential
Gold mineralization. Today the exploration team will return to
Charles just north of San Juan and conduct a detailed sampling in
the prospective zones. Meanwhile, back in Santo Domingo we are
negotiating to purchase up to four more claims clustered
immediately around Goldquest's bonanza claims. Funding for the
exploration will potentially come from the recent $16 million
commitment from Hanover Holdings I, LLC (NY).
About Santo Mining Corporation
Santo Mining Corporation is a junior minerals exploration and
development company, based in the Dominican Republic. The Company
is actively pursuing the acquisition and exploration of properties,
which are strategically located in the prolific and highly
prospective Hispaniola Gold-Copper Back-Arc area in the Dominican
Republic. A detailed description of the Company's activities is
available at www.SantoMining.com.
Further information on the Company and its filings can be found
at www.sec.gov
The Santo Mining Corporation logo is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release, such as the Company's plans to
acquire a number of highly prospective gold exploration properties,
which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future, including but not limited to, any
mineralization, development or exploration of the Company's
properties and the timing of any work program or exploration
activities, and any results that may be obtained or the
commencement of production.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance those beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
For further information, please visit the company's
website: www.santominingcorp.com.
CONTACT: Tyler Troup, Managing Director
Circadian Group, Investor Relations
Toll Free: +1 (866) 865-2780
Toronto: +1 (647) 930-1037
New York: +1 (646) 257-2444
Email: Tyler@Circadian-Group.com
Web: www.Circadian-Group.com
DD portal: http://www.circadian-group.com/santo.html
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