Sanatana signs surface access agreement for Tirua
AFTER CONDUCTING a site visit to the Tirua project in the Solomon Islands, Sanatana Resources Inc. has successfully negotiated a surface access agreement with the local landowners. The surface access agreement paves the way for Sanatana to be issued a prospecting licence over the entire Tirua project, comprising approximately 264 square kilometres, and to begin exploration.
Peter Miles, president and chief executive officer of Sanatana, stated: “Our recent field visit to the Solomon Islands has reinforced our opinion of the geological potential of the Tirua project and, in addition, has highlighted Sanatana’s ability to work in the region, culminating with the successful negotiation of the critical surface access agreement. We would like to thank the local landowners and we look forward to working with them in the future.”
Buddy Doyle, vice-president of exploration of Sanatana, stated: “The field visit to the Tirua project also provided us an opportunity to field check the geology of the Kolo caldera. I am pleased to report that samples taken in conjunction with the site visit of Neil McLean, an independent qualified person preparing the technical document in accordance with NI 43-101, support the assertion that extensive porphyry and epithermal mineralization exists at the Tirua project. We have identified, from the sampling, visual observation and interpretation of airborne magnetic data, alteration adjacent to the existing porphyry which we interpret as an epithermal system, approximately nine kilometres long and 1.5 kilometres wide. This untested system, which we are naming the East Kolo epithermal gold target, will be our initial focus of exploration in the Solomon Islands. We are also pleased that a recent scientific paper, entitled ‘Tectonic evolution and copper-gold metallogenesis of the Papua New Guinea and Solomon Islands region’ by Holm et al. (2018), discusses the abundance of porphyry, epithermal and skarn deposits of the region, recognizing the Tirua project as an epithermal gold prospect, and uses the paper I co-authored, ‘Ladolam Gold Deposit, Lihir Island, In: Geology of the mineral deposits of Australia and Papua New Guinea,’ as a reference.”
The East Kolo epithermal gold target (EKEG) which is located in the southeast of the Kolo caldera, is nine kilometres long and 1.5 kilometres wide, extending over 1,300 hectares, adjacent and directly east of the porphyry mineralization. Previous soil, rock-chip and trench sampling returned assay results of up to 1.16 grams per tonne gold over 15 metres (open).
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Erika Flores condensed this news release ([email protected]watch.com).
Timothy Thomas Barry, Buddy James Doyle, Peter Leighton Miles, Darcy James Will
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