- Sanatana Resources (TSXV:STA) has completed its 2024 drill program at the Oweegee Dome Project in Northern British Columbia
- Four holes were drilled for a total of 2,359 metres with assay results still pending
- Previous work at the project demonstrated the company has identified a porphyry-copper-gold system
- Shares of Sanatana Resources are down 11.76 per cent to C$0.075 as of 11:36 am ET
Sanatana Resources (TSXV:STA) has completed its 2024 drill program at the Oweegee Dome Project in Northern British Columbia.
In a news release, the company stated four holes were drilled for a total of 2,359 metres with assay results still pending. The purpose of the 2024 drill program was to enhance understanding of where the potassic core of the system might lie.
Notably, two of the drill holes that tested the Junction IP anomaly encountered volcanoclastics and mudstones with no clear explanation of the anomaly.
“We are encouraged by our 2024 drill program as it has given us valuable vectoring information that will guide future drill programs. We expect that the assay results will provide further guidance,” Peter Miles, CEO of Sanatana Resources, said in a statement. “The 2024 program marks our fourth consecutive year at Oweegee Dome and we have achieved the exploration expenditure and drilling commitments that are critical to earning a majority interest in the property.”
The completion of the 2024 drill program fulfills Sanatana’s requirements to complete 6,000 metres of drilling and spending C$6.6 million under the terms of the company’s options agreement with ArcWest. To acquire 60 per cent interest in the property, Sanatana Resources must pay an additional $300,000 in cash and issue 700,000 if its common shares to ArcWest before Dec. 31, 2024.
Previous work at the project done by the company identified a porphyry-copper-gold system. In 2023, Sanatana expanded the induced polarziation survey to locate the copper porphyry system, which identified a number of chargeability anomalies.
The strongest and largest was the Junction anomaly south of drill hole OW22-08. Drill testing this target was one of the 2024 program’s primary objectives.
Sanatana Resources primary project is the Oweegee Dome copper-gold porphyry property that it optioned from ArcWest Exploration in 2021.
Shares of Sanatana Resources Inc. (TSXV:STA) are down 11.76 per cent to C$0.075 as of 11:36 am ET.
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(Top photo of a gold mining operation: Adobe Stock)