Santana Minerals intercepts High-Grade Gold, Fast-Tracks Rise and Shine Deposit for 2025

Key Highlights

• Impressive Drill Intercepts: Recent holes returned up to 16.4m @ 5.7g/t Au and 7.0m @ 21.7g/t Au, reinforcing the deposit’s high-grade potential.
• Cost-Saving Pit Design: Targeting high-grade zones could reduce waste stripping and lower pre-production expenses.
• Resource Upgrade in Q1 2025: Ongoing drilling aims to boost the Mineral Resource Estimate, adding long-term project value.
• Fast-Track Approvals: Recent legislation may speed up permitting, allowing Santana to advance Rise and Shine toward production more quickly.

Santana Minerals Ltd (SMI), a company listed on the Australian Securities Exchange (ASX), has recently announced continued positive results from its ongoing diamond drilling at the Rise and Shine (RAS) deposit, which is part of the company’s Bendigo-Ophir gold project in New Zealand. With their latest drilling results, Santana Minerals is one step closer to advancing the project through the detailed design phase in 2025. The drilling program is particularly focused on refining the pit wall design and optimizing the placement of high-grade gold resources. Let’s take a closer look at the results and what they mean for the future of Santana Minerals and its investors.

Drilling Program Overview

The drilling campaign at the Rise and Shine (RAS) deposit is designed to firm up critical areas of the project and build confidence in the geological model, which will be key to guiding future mine design. This program includes 17 drill holes, with assay results from the first 10 holes already released. These results have shown that the geological model for the RAS orebody is largely accurate, with mineralization continuing as predicted.

CEO Damian Spring has expressed enthusiasm over the ongoing success of the drilling program, noting that the latest drill hole, MDD379, has returned impressive grades. This hole intercepted 16.4m @ 5.7g/t Au from 167.6m, followed by an even higher grade of 7.0m @ 21.7g/t Au from 194.0m, confirming that the project has the potential for a high-grade gold resource in the coming years.

Key Drill Results: A Closer Look

The results from the drilling program reveal some exciting intercepts, particularly on the eastern and southern margins of the main ore shoot. These areas are important for mine design, as they help define the high-grade mineralization that will guide the pit walls.

Key results include:

• MDD375: 13.0m @ 1.7g/t Au from 172.0m (true width 11.5m) and 7.0m @ 5.0g/t Au from 222.0m (true width 6.2m)
• MDD378: 12.0m @ 5.3g/t Au from 160.0m (true width 11.4m)
• MDD379: 16.4m @ 5.7g/t Au from 167.6m (true width 14.9m) and 7.0m @ 21.7g/t Au from 194.0m (true width 6.3m)

• MDD380: 12.2m @ 3.3g/t Au from 160.8m (true width 11.2m)
• MDD382: 8.0m @ 4.2g/t Au from 161.0m (true width 7.5m), 7.0m @ 3.4g/t Au from 172.0m (true width 6.6m), and 6.0m @ 11.9g/t Au from 188.0m (true width 5.6m)

The results also show high-grade mineralization extending beyond previously drilled intercepts, which is a positive sign for the continuity of the orebody. Notably, these high-grade intercepts could result in more efficient mining operations, potentially reducing the amount of waste material to be removed during excavation.

Potential for Cost Savings and Increased Resource Estimate

The ongoing drilling program is particularly focused on refining the design of the eastern wall of the RAS pit. This is a critical area where Santana Minerals believes significant cost savings could be realized by defining the high-grade mineralization more accurately. By precisely determining the location of the high-grade ore, the company aims to minimize waste stripping and reduce pre-production capital costs.

The infill drilling at the eastern and southern fringes of the RAS orebody is also expected to enhance the overall resource estimate. Upon completion of the drilling campaign, the company plans to update the Mineral Resource Estimate (MRE) for RAS, with an expected finalization in Q1 2025. With the high-grade results from the recent drilling, there is potential for an increase in the overall resource estimate, adding to the long-term value of the project.

Preparing for Fast-Track Approvals and Future Developments

Another key milestone for Santana Minerals is its preparation for applying under the recently passed Fast-track Approvals Act, which was passed into law in late 2024. This legislation aims to streamline the permitting process for mining projects, making it easier and faster for companies like Santana Minerals to bring their projects into production. With the ongoing drilling results continuing to impress, Santana is in a strong position to move forward with its application for the fast-track approval process.

Damian Spring, CEO of Santana Minerals, has emphasized that the company is well-advanced in its detailed design work to ensure the project is ready for this upcoming phase. The combination of impressive drilling results, strong project fundamentals, and the new regulatory environment creates a positive outlook for the Rise and Shine project.

Stock Snapshot

• Ticker: SMI (ASX)
• Price (08/01 AEDT): AUD 0.46, up 1.10% on the day
• Volume: 986,828
• Market Cap: AUD 296.27M
• 52-Week Range: AUD 0.328 – 0.820
• 1-Year Return: +38.71%
• Sector: Basic Materials

What’s Next for Santana Minerals?

As the latest results from the RAS drilling continue to impress, Santana Minerals is making significant strides toward advancing the Rise and Shine (RAS) gold deposit toward production. With high-grade intercepts, refined geological models, and strong cost-saving potential, the future of this project looks increasingly bright.

As the company moves toward finalizing its updated Mineral Resource Estimate in Q1 2025 and applying for fast-track approvals, investors and stakeholders alike will be closely watching the continued progress of the Bendigo-Ophir gold project.