Sanatana Appoints Board Chair and President and Initiates Exploration in Ontario
05 Juin 2019 - 2:30PM
Sanatana Resources Inc. ("
Sanatana" or the
"
Company": TSX-V:
STA) is pleased
to announce that Mr. Buddy Doyle has been appointed President and
Mr. Ian Smith has accepted an offer to become Chairman of the Board
of the Company. Mr. Doyle and Mr. Smith bring Sanatana a
wealth of relevant experience in geology and mining engineering.
Mr. Peter Miles will remain CEO of the Company.
Mr. Peter Miles, CEO, states "Buddy and Ian's
extensive knowledge and experience working in the PNG-Solomon
Islands region at Lihir and Panguna will be invaluable to Sanatana
as we begin exploration on our Tirua project. I look forward to
working with them both as we move forward."
Mr. Buddy Doyle, President, states "I'm excited
to be back exploring in the prolific PNG Solomon Islands region and
I look forward to working on our Tirua project."
Mr. Ian Smith, Chairman of the Board, states "It
is both a privilege and exciting to be on the experienced Sanatana
team working on the exploration of the Tirua project which is
located in the prolific Ring of Fire Belt that has spawned such
world-class epithermal and porphyry deposits as Lihir and Panguna
among others."
Sanatana is also pleased to announce that field
work has commenced on the Company’s 100% owned Santoy property in
northwest Ontario. There is no recorded drilling within the
property. A two-week reconnaissance ground geophysics program is
being undertaken to define two discrete airborne electromagnetic
(“EM”) conductors on the ground with the aim of fine tuning a drill
program later in the season to test the subsurface anomalies. Very
low frequency (“VLF-EM”) traverses will be completed at intervals
along both conductors to pin down the trends on the ground to
assist with planning the locations for drill holes to provide the
best opportunity to intersect the conductive source at depth.
The Santoy property lies within the western part
of the Schreiber-Hemlo greenstone belt covering 479 hectares and is
underlain by a folded and foliated sequence of mafic to felsic
volcanics with minor units of ultramafics and metasediments. There
are two discrete strongly conductive units in the greenstone belt
sequence delineated in the publicly available Ontario Geological
Survey airborne electromagnetic geophysical survey data (2003).
The southern conductor relates directly to a
historic silver showing in the east (Little Santoy Silver) and a
nickel-copper showing in the west (Jackfish Nickel), linking the
two showings over approximately 1.5 kilometres. Elevated cobalt,
copper, lead and silver values in soil sample data reviewed from
previous assessment reports may also be related to this conductive
unit. The other conductor to the north measures at least 850 metres
long in an east-west direction and has no known showings associated
with it.
The information in this news release was
prepared under the supervisions of Troy Gill, BSc. MAIG,
Exploration Manager for Sanatana. Mr. Gill is a Qualified Person
for the purposes of National Instrument 43-101 -- Standards of
Disclosure for Technical Projects and has reviewed and approved the
technical information disclosed in this news release.
About the Company
Sanatana Resources Inc. is a mineral exploration
and development company with an experienced management team and
board of directors. Sanatana is based in Vancouver and is listed on
the TSX Venture Exchange (TSX-V: STA). Sanatana focus is the 282km2
Tirua copper-gold project in the Solomon Islands, South West
Pacific and the Jackfish property in Ontario. SANATANA
RESOURCES INC. (signed) "Peter Miles" Peter
MilesPresident and Chief Executive Officer Cautionary
Statement Regarding "Forward-Looking" Information Some of
the statements contained in this news release are forward-looking
statements and information within the meaning of applicable
securities laws. Forward-looking statements and information can be
identified by the use of words such as "plans", "expects",
"intends", "is expected", "potential", "suggests" or variations of
such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements and
information are not historical facts and are subject to a number of
risks and uncertainties beyond Sanatana's control. Actual results
and developments are likely to differ, and may differ materially,
from those expressed or implied by the forward-looking statements
contained in this news release. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
For additional information on the Company, please contact:
Mr. Peter Miles, President and Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com.
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