Santana Minerals has reported strong high-grade gold intercepts from initial infill drilling at its Rise and Shine deposit, bolstering confidence in the early-stage open pit mine plan and supporting upcoming financing efforts.
- High-grade gold intercepts validate early mining zones
- Infill drilling confirms mineralisation continuity in southern Rise and Shine
- Additional high-grade lens identified within low-grade domain
- Mine plan refinement underway ahead of financing and approvals
- Further drilling to close hole spacing continues
High-Grade Gold Intercepts Strengthen Early Mine Plan
Santana Minerals (ASX:SMI, NZX:SMI) has delivered promising results from the first four holes of a 12-hole infill drilling program targeting the southern Rise and Shine (RAS) deposit. These high-grade gold intercepts underpin the company's strategy to refine its early-stage open pit mine plan, aiming to secure a consistent ore feed for planned processing rates.
The standout intercept came from drillhole MDD504, which returned 15.5 metres at 7.7 grams per tonne (g/t) gold from 185 metres downhole, alongside a separate 4.2-metre zone grading 14.5 g/t beneath the primary high-grade domain. This latter intercept suggests a potential second stacked high-grade lens within what was previously classified as a low-grade zone, a geological nuance that could enhance resource flexibility.
Geological Continuity Confirmed in Southern Mineralised Domain
Additional infill holes MDD524A and MDD525 reinforced the continuity and thickness of the high-grade mineralised domain (HG1) within the Rise and Shine Shear Zone. MDD524A returned 7 metres at 6.4 g/t gold, while MDD525 delivered multiple stacked intercepts, including 9 metres at 3.9 g/t. Meanwhile, fringe hole MDD523 confirmed the southern margin of the high-grade domain, albeit with lower-grade intercepts.
These results refine the geological model, confirming the robustness of the thick mineralised zones in the southern RAS area and providing critical data to close drill hole spacing to around 20 metres. Such density is essential to underpin mine planning and resource classification ahead of production.
Advancing Mine Plan and Financing Preparations
CEO Damian Spring highlighted the significance of these results in the context of the company’s broader development timeline. With permitting and financing progressing, the drilling outcomes offer increased confidence in the high-grade ore that will form the backbone of early production years. The infill program is a key step in refining the mine plan prior to advanced financing activities, which are scheduled to be completed within three months of receiving Fast-track Approval consents.
The company is continuing with the remaining eight holes of the infill program, aiming to further tighten drill spacing in targeted early production areas. Concurrently, Santana Minerals is advancing metallurgical, environmental, geotechnical, and hydrological studies to support pre-mining assessments and regulatory approvals.
Resource and Technical Integrity Supported by Rigorous Sampling
The drilling campaign employs industry-standard diamond core techniques with comprehensive QAQC protocols, including fire assay and photon assay methods. The sampling and assay data have been verified by competent geoscientists and audited externally, ensuring reliability for resource estimation. Drill hole collars are surveyed with high precision, and data management practices maintain integrity throughout the sampling chain.
Exploration is conducted under secure mineral tenure in New Zealand, with no known impediments to mining licences. The project is subject to standard Crown royalties and a net smelter royalty payable to prior shareholders, ensuring clarity on fiscal obligations.
These drilling results come as Santana navigates a complex regulatory landscape, having recently paused its fast-track approval process to supply additional data while maintaining statutory timelines. The company’s ongoing capital raising and financing efforts, including a completed A$130 million placement, provide a solid financial foundation for advancing the Bendigo-Ophir Gold Project and associated deposits like Rise and Shine.
Bottom Line?
Santana’s high-grade infill drilling results at Rise and Shine bolster early production plans but hinge on completing the full program and securing final approvals.
Questions in the middle?
- Will the additional eight infill holes confirm the newly identified high-grade lens within the low-grade domain?
- How will these drilling results influence the final mine plan and resource classification ahead of financing?
- What impact might regulatory review and permitting timelines have on the project's development schedule?