Santana Minerals (ASX:SMI) Reports Higher Indicated Resources Grade in RAS MRE
RAS Mineral Resource Estimate Update
Santana Minerals Limited (ASX:SMI) has announced an updated Mineral Resource Estimate (MRE) for the Rise & Shine (RAS) deposit as of March 2025. The updated MRE, incorporating 28 infill drill holes totaling 7,060 metres, shows a 7% increase in indicated grade from 2.35 g/t to 2.52 g/t and a 6.4% rise in contained gold ounces.
Operational Achievements
The infill drilling at RAS has refined the resource model, enhancing grade domaining and variography. Applying a 0.5 g/t cut-off grade and a top cut of 60 g/t, the new indicated resource stands at 18.9 Mt at 2.5 g/t Au, containing 1,538 koz gold.
Executive Comments
CEO Damian Spring stated, “These refined and revised numbers will have a positive impact on the economics of the project. The improved domaining enables a more selective mining approach than that applied in our initial PFS. Consequently, an improved mine extraction plan with lower pre-strip demands and lower pre-production capital requirements is the anticipated result. We’re now working on the release of a revised PFS incorporating this data and a revised development plan for the early years of the project.”
Future Outlook
Santana is updating its Pre-Feasibility Study (PFS) to incorporate the latest MRE data, focusing on reducing pre-production financial requirements while maintaining gold production levels. The company is also progressing towards fast-track approval, with early works on infrastructure upgrade underway.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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