Sanatana signs sur­face ac­cess agree­ment for Tirua

Stockwatch Daily - - MINES & METALS - Mr. Peter Miles re­ports

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).

We seek Safe Har­bor.

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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