Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
These samples were taken from a series of historical mines and adits that form a 5 km, prospective, north-south trending zone of silver-copper and lead-zinc-silver mineralization in the west of the Don Indio claims. A document showing the relative locations of the various historical mine workings within the Don Indio project can be found at: http://www.santafemetals.com/docs/Don_Indio_Layout.pdf.
From south to north, the results include up to: 239 g/t silver and 16.9% lead from “San Marcos West” adit; 17.66% lead and 15.47% zinc 2.8 km along strike at “La Encalmada” mine; and 228 g/t silver and 8.2% copper a further 1.5 km along strike at “La Abandonada” mine. The intervening “Pilar Grande” and “La Cuchilla” mines were targeted during a previous channel sampling program.
Fresh rock chip samples containing 0.71% copper and 27.8 g/t silver over 1 m indicate that mineralization continues even further north along strike outside of the 5 km zone.
Company President and CEO, Ian Smith, stated: “Our sampling results continue to confirm historic work that found high grade mineralization in all historic workings on the Don Indio property, as well as expand the area of mineralization. The most recent sampling program confirms the potential of a 5 km long zone from ‘San Marcos West’ in the south to ‘La Abandonada’ in the north for high grade mineralization. A drilling program is being planned that is expected to verify continuity of mineralization between selected historical mine workings on the property and begin to establish the extent of mineralization at depth as a precursor to generating a resource estimate that could be much larger than originally thought.”
| Highlights of November/December 2011 Sampling Program | |||||||
| Property | Location | Silver ppm |
Silver oz/ton |
Copper % |
Lead % |
Zinc % |
Moly % |
| Don Indio From a series of mines and adits that form 5 km of Ag-Cu and Pb-Zn-Ag mineralization | San Marcos West | 155.5 | 4.53 | 0.06 | 5.67 | 1.99 | 0.00 |
| 40.6 | 1.18 | 0.03 | 4.82 | 0.00 | 0.00 | ||
| 57.7 | 1.68 | 0.16 | 2.31 | 2.27 | 0.00 | ||
| 238.8 | 6.96 | 0.01 | 16.87 | 0.00 | 0.00 | ||
| 231.1 | 6.74 | 0.05 | 10.49 | 0.00 | 0.00 | ||
| 71.5 | 2.08 | 0.02 | 3.79 | 0.00 | 0.00 | ||
| 125.5 | 3.66 | 0.06 | 5.55 | 1.16 | 0.00 | ||
| La Encalmada | 42.2 | 1.23 | 0.05 | 7.08 | 2.4 | 0.00 | |
| 22.5 | 0.66 | 0.38 | 4.18 | 9.77 | 0.00 | ||
| 27.8 | 0.81 | 0.71 | 4.55 | 10.11 | 0.03 | ||
| 91.7 | 2.67 | 0.80 | 17.66 | 15.47 | 0.01 | ||
| La Abandonada | 228.4 | 6.66 | 8.20 | 0.19 | 0.1811 | 0.00 | |
| 71 | 2.07 | 14.24 | 0.03 | 0.2789 | 0.00 | ||
| 42.8 | 1.25 | 3.12 | 0.01 | 0.0344 | 0.00 | ||
| 101.8 | 2.97 | 5.43 | 0.01 | 0.0083 | 0.00 | ||
| North of the property | El Ojito | 27.8 | 0.81 | 0.74 | 0.44 | 0.4411 | 0.00 |
| 29.6 | 0.86 | 0.25 | 1.08 | 0.2407 | 0.00 | ||
| This table reflects the initial results of the sampling program at the San Marcos West, La Encalmada and La Abandonada mines. El Ojito is a small adit located outside of the prospective 5 km zone a further 1.4 km along strike. * oz/ton = troy ounces / short ton |
To date, a total of 317 channel samples and 37 chip samples have been collected from the Don Indio property. Highlights of previous channel sampling programs include a wide zone of very high grade silver-copper mineralization and results of up to 5.86% copper and 901 g/t silver at “Pilar Grande”, and up to 3.55% copper, 344 g/t silver, 14.83% lead and 3.71% zinc at “La Cuchilla”, approximately 1.4 km south.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed Ian Smith (FAusIMM-CP), a qualified person under National Instrument 43-101. Complete sample results and a description of procedures used in the sampling program are available on our website at http://www.santafemetals.com/index.php?page=newsdetail&newsfile=sfm_20120117.htm.
SANTA FE METALS CORP.
IAN SMITH, President & CEO
This release contains forward-looking statements, including statements relating to Santa Fe Metals’ future plans and objectives with respect to the exploration and development of its properties. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Santa Fe Metals’ business, including risks inherent in resource exploration and development. There can be no assurance that economic resources will be developed at any of its properties. Actual results may vary materially from those described in forward-looking statements.
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this news release.
