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Santana Minerals Ltd (ASX:SMI) has a clear corporate strategy focusing on silver exploration in Mexico. Santana is earning an initial 80% interest in the Cuitaboca Silver-Gold project in Sinaloa State, and the company also has a 100% of the Namiquipa Silver Project in Chihuahua. The company is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare. The halt will remain in place until the opening of trade on Thursday 14th September 2017, or earlier if an announcement is made to the market.
The Siviour Project in Southern Australia “looks like a tier-one graphite deposit”, according to Rob Murdoch, chief executive of the asset’s owner, Renascor Resources (ASX:RNU).
Santana Minerals (ASX:SMI) has identified silver, gold zones from rockchip sampling and diamond saw trenching at its Cuitaboca Project in Sinaloa, Mexico.
The hole returned 35 metres at 221 g/t silver from surface including 14 metres at 453 g/t silver and 2% zinc.
The drilling has confirmed the continuous broad mineralisation which remains open at depth and along strike and is now reasonably predictable within an uncomplicated geometry. The reported results represent the first five drill holes of the current 2800-metre, 24-hole reverse circulation drill program. Highlights: - 5 metres at 61 g/t silver from 49 metres; - 6 metres at 54 g/t silver from 60 metres; and - 45 metres at 45 g/t silver from 65 metres, including 8 metres @ 116 g/t silver from 100 metres.
Santana Minerals Ltd (ASX:SMI) has secured $2.037 million through a share placement to sophisticated and professional investors priced at $0.06. The stock is up over seven times year to date as the company continues its successful gold and silver focus within Mexico. The funds raised will be used to undertake further exploration work, including planned drilling, at the Cuitaboca silver project in Sinaloa, Mexico which is anticipated to commence in October of this year.
Santana Minerals Ltd (ASX:SMI) has been granted a trading halt by the ASX, pending details of a capital raising. The halt will remain in place until the opening of trade on Monday 29th August 2016, or earlier if an announcement is made to the market.
Santana Minerals Ltd (ASX:SMI) is focused on exploration for gold and silver in Mexico where it owns the Namiquipa (silver/lead/zinc) project in Chihuahua and is earning into ownership of the Cuitaboca Ag-Au polymetalic project in Sinaloa.