QualityStocks would like to highlight Santo Mining Corporation (OTCBB: SANP), engaged in the acquisition, exploration, and development of mineral properties in the Dominican Republic. The company owns a 100% interest in the Alexia gold exploration claim covering an area of approximately 27.75 square kilometers located near Dajabón in the northwest Dominican Republic.
In the company’s news yesterday,
Santo Mining announced adding another feather to the company’s cap with the successful 100% acquisition of the 4,917-acre HENRY gold exploration claim.
This is another substantial addition to the company’s regional footprint and the claim lies just 8.5 miles northwest of Barrick Gold’s 25.3M ounce Pueblo Viejo mine, one of the biggest on earth. The HENRY claim is also only 3.5 miles northeast of the huge ferronickel complex run by Falcondo Xstrata (29k tons of nickel per year capacity), details which further reinforce the overall mineral portrait of this highly prospective region.
The HENRY claim is right in the middle of a large polymetallic volcanogenic massive sulphide-type deposit (Maimon), one of a host of such deposits that make up the significant geology in this portion of the Hispaniola Gold-Copper Back-Arc, like the Cerro de Maimon and Loma Pesada deposits. Mining activity in the area reaches all the way back to the 1500′s and extensive oxide mining at Pueblo Viejo, for instance, currently produces some 450 oz Au and 1.8k oz Ag per day. The Dominican government is quite receptive to this vital industry and the rich geological abundance of SANP’s interests spell a potential great future for this north-central part of the country, as well as investors.
President of SANP, Al French, pointed to upcoming geochemical surveying anticipated as returning positive results for precious/base metals in line with the regional data and reassured shareholders that the company would continue to maintain acquisition momentum, tagging another high-quality claim every week or so moving forward.
The dynamic approach devised by SANP for overcoming the two major challenges to developing mines in the Dominican Republic, the terrain and the complexities of explorative analysis, rests squarely on the company’s highly mobile Strike Teams of back country experts who take a guerrilla warfare approach to the field work while using the latest technology. This cost slashing methodology also yields high-fidelity data in a shorter window, crystallizing the exploration process around commando-like field mobility which employs such innovations as handheld x-ray fluorescence analyzers, man-portable core drilling hardware, a utility chopper, and mobile lab capabilities.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
