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Santana Minerals Ltd. ( (AU:SMI) ) has issued an update.
Santana Minerals has reported a significant step-out drilling result at its Rise and Shine (RAS) deposit, with hole MDD490 intersecting 38.6 metres at 1.70 grams per tonne gold, including a higher-grade 13.6-metre zone at 2.42 grams per tonne. The hole, located about 135 metres north of previous drilling and roughly 465 metres beyond the area underpinning the current mineral resource estimate, encountered the thickest zone of silicified breccia yet seen at the project and confirms that the mineralised system continues down-plunge to about 2.15 kilometres, indicating potential for substantial extensions to the orebody and a higher-grade core of interest for underground mining; in parallel, the company has applied for additional exploration tenure north of its existing permit, underscoring the potential to increase scale and extend the life of the planned mining operation.
The most recent analyst rating on (AU:SMI) stock is a Hold with a A$0.94 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 focused on advancing its Rise and Shine (RAS) gold deposit in New Zealand, where it is delineating mineral resources and evaluating the potential for long-life mining operations, including possible underground development.
Average Trading Volume: 1,065,200
Technical Sentiment Signal: Buy
Current Market Cap: A$756.2M
See more insights into SMI stock on TipRanks’ Stock Analysis page.