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Cuitaboca Project, Mexico

Exploration Concessions, Cambodia

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Cuitaboca Project, Mexico

Located in Sinaloa State, Mexico,  the Cuitaboca silver + gold project comprises 5,500ha of exploration tenements and is ideally located on the Pacific side of the Sierra Madre (excellent infrastructure/accessibility). Precious metal mineralisation is of low-intermediate epithermal style veins.

La Lupita

The Mojardina Prospect, situated in the south of the Cuitaboca Project has recorded significant silver results from low-intermediate epithermal veins. Result highlights include:

  • 35m @ 221 g/t Ag from surface, including 14m @ 453 g/t Ag, 2% Zn from 21m (RC16CT-21);

  • 52m @ 127 g/t Ag from surface, including 23m @ 253g/t Ag from 27m (RC16CT-23);

  • 32m @ 104 g/t Ag from 98m (MJRC046); and

  • 12m @ 118 g/t Ag from 99m (MJRC047).

Preliminary metallurgical test work on selected drill samples recorded silver extraction by cyanide leaching results of between 93.1 to 94.4%.

Mojardina

The La Lupita Prospect is situated in the north of the Cuitaboca Project and located on a north-east trending mineralised corridor that hosts the 1Moz Au San Jose mine, 15km to the south-east. Minor exploration has been completed at the target, composed predominately of diamond sawn channel samples with results including:

  • 7m @ 161 g/t Ag, 0.66% Pb, and 0.82% Zn, including 5m @ 222g/t Ag, 0.83 % Pb and 1.4% Zn (LUTR_05);

  • 1.1m @ 158g/t Ag, 2.3% Pb, and 1.62% Zn (LUTR_07);

  • 2.9m @ 281g/t Ag, 3.1% Pb, and 3.0% Zn (LUTR_08); and

  • 1.7m @ 514g/t Ag, 6.8% Pb, and 5.4% Zn (LUTR_09).

In addtion, previous channel sampling completed in the 1990s recorded anomalous gold values, that Santana considers significant due to being on the same structural corridor as the San Jose Mine and justifies further exploration at the target.

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Exploration Concessions, Cambodia

Santana Minerals Cambodian Project comprises two exploration licenses targeting gold. The project is a free-carried joint venture with Emerald Resources, who are developing the 1 Million ounce Gold Okvau Mine, which is within close proximity to Santana’s Tenements.

Snoul

The Phnom Kthung exploration license covers 210.75 Sq km and has three main prospects: Skar, Central, and Oh Tron, with the latter considered the most prospective and focus for exploration. High-grade rock-chip samples have been taken from the target (up to 38.3g/t Au) and soil sampling has outlined a 1km long >10ppb gold anomaly that warrants further exploration.

Phnom Kthung

The Snoul exploration license covers 198 Sq km with soil sampling defining gold anomalism associated with granodioritic intrusives into the sedimentary rock sequences. The Anchor and Ok Pok are defined by gold-arsenic soil anomalism, which has been the focus of previous exploration. Drilling with RC and Diamond Coring methods included the following results:

  • 4m @ 11.94g/t Au from 4m (SNRC002);

  • 16m @ 2.93g/t Au from 4m (SNRC009);

  • 12m @ 1.01g/t Au from 12m (SNRC010);

  • 4.3m @ 4.76g/t Au from 147.2m (DD10ANC025).