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Santana Minerals Ltd. ( (AU:SMI) ) has provided an announcement.
Santana Minerals has outlined a new exploration target at its Rise & Shine gold deposit, underpinned by recent step-out drilling that extends the mineralised envelope from 1.7km to 2.15km down plunge. The new target, situated north of the existing resource, reflects the tabular geometry and strong continuity of RAS mineralisation, particularly within thickened zones of silicified breccia that host high-grade gold.
The company estimates a conceptual range of 3.6Mt at 1.9 g/t gold to 7.7Mt at 2.8 g/t gold, potentially adding 0.52Moz to 1.48Moz beyond the current 2.08Moz resource at RAS. While still too early to classify as a mineral resource or feed into mine plans and economics, the target supports management’s view that RAS could grow materially to the north, with follow-up drilling planned to test the scale and continuity of this emerging zone.
The most recent analyst rating on (AU:SMI) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Santana Minerals Ltd. stock, see the AU:SMI Stock Forecast page.
More about Santana Minerals Ltd.
Santana Minerals Ltd. is a gold exploration and development company with its key Rise & Shine (RAS) project reported under the JORC Code in Australasia. The company focuses on expanding its gold resource base through step-out drilling and resource definition, targeting both open pit and underground extensions to enhance future mine life and scale.
Average Trading Volume: 1,169,441
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$820M
For a thorough assessment of SMI stock, go to TipRanks’ Stock Analysis page.