Results include 3.1m grading 200g/t Ag and 1.05g/t Au and 1.5m grading 281g/t Ag and 1.4g/t Au
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ottawa, Ontario - May 4, 2007 - San Anton Resource Corporation (SNN:TSX) is pleased to announce initial results from the first regional target to be drilled outside of the Cerro del Gallo deposit on its San Anton property, Guanajuato State, Mexico. Results from the Empalizada target include 3.1m grading 200g/t of silver and 1.05g/t of gold (4.38g/t AuEq), 1.5m grading 281g/t of silver and 1.4g/t of gold (6.08g/t AuEq) and 1.5m grading 184g/t of silver and 1.85g/t of gold (4.92g/t AuEq). San Anton has a 51% interest in the property and Goldcorp Inc. owns 49%.
The Empalizada prospect is located on the three kilometer Carmen-Providencia vein system and is two kilometers west of Cerro del Gallo. It is one of more than 25 regional targets which have been identified to date on the 200km2 San Anton property. Four scout holes totaling 745m were drilled below historic workings where small scale, intermittent mining of low sulphidation Ag/Au epithermal veins has taken place for centuries. All holes intersected a wide system of multiple veins. Geological mapping, a geochemical survey and a ten hole follow up program are underway to determine the width, extent and geometry of the veins prior to deeper core drilling.
Gregory Bowes, President & CEO of San Anton stated "these are very encouraging results from a first pass exploration program, particularly considering that we did not intersect the main Carmen vein system as the hole was stopped short of its intended target due to high volumes of water. Most historic mining took place on the Carmen vein and drilling by previous owners returned some impressive intersections." He added "It now appears the Carmen-Providencia vein system may be up to 100m in width with rock textures that suggest it is at the upper levels of a large hydrothermal system."
Measured resources in the Cerro del Gallo deposit total 63Mt grading 1.14g/t AuEq (2.3Mozs AuEq), indicated resources total 260Mt grading 0.69g/t AuEq (5.8Mozs AuEq) and inferred resources an additional 112Mt grading 0.59g/t AuEq (2.1Mozs AuEq), all based on a 0.30g/t AuEq cut-off grade. The deposit contains four million ounces of gold, 171 million ounces of silver and 448,000 tonnes of copper and remains open laterally and at depth. Three drill rigs are currently operating on the property, two of which are doing expansion drilling at Cerro del Gallo while the third is drilling regional targets.
Empalizada Prospect Drill Intersections (0.50g/t Au cut-off)
|
Hole ID |
From |
To |
Width |
Au (g/t ) |
Ag (g/t ) |
AuEq (g/t) Sample No. |
|
CP-001 |
27.43 |
28.96 |
1.52 |
1.02 |
40 |
1.69 |
|
CP-002 |
179.83 |
181.36 |
1.52 |
1.40 |
281 |
6.08 |
|
224.03 |
225.55 |
1.52 |
1.55 |
2 |
1.58 | |
|
CP-003 |
0.00 |
1.52 |
1.52 |
0.76 |
31 |
1.28 |
|
103.63 |
105.16 |
1.52 |
1.02 |
11 |
1.20 | |
|
108.20 |
111.25 |
3.05 |
1.05 |
200 |
4.38 | |
|
CP-004 |
85.34 |
86.87 |
1.52 |
0.82 |
45 |
1.57 |
|
109.73 |
111.25 |
1.52 |
1.85 |
184 |
4.92 |
Au equivalence ("AuEq") has been calculated as AuEq = Au + Ag/60. 100 per cent metallurgical and smelter recoveries have been assumed.
Drilling was supervised by Graeme Rabone, an independent consultant, who is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information in this release. RC samples are assayed in 1.52 metre intervals, at SGS in Toronto, Canada. Gold is routinely assayed using a 30 gram sample, fire assay fusion and AAS finish with all gold values greater than 1.0g/t routinely re-assayed by SGS using the gravimetric method prior to batch reporting. Silver and copper values are determined on a 2 gram sample, aqua regia-hydrofluoric acid digest and AAS finish with high values checked using a different method. Standard reference material is routinely inserted into the sample stream from diamond core and RC drilling at a rate of 1 in 40 samples and sample blanks every 1 in 100 samples. Field duplicates are inserted every 1 in 50 samples. Analytical QA/QC work is done at a later time at another external l aboratory on approximately 5% of selected samples containing above background metal values.
The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of San Anton are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of San Anton are detailed from time to time in the filings made by San Anton with securities regulators.
For further information please contact:
Gregory B. Bowes, President & CEO
Tel: (613) 729-9006
Christian Del Valle, Manager, Corporate Development
Tel: (613) 729-9006
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
John Boidman: jboidman@renmarkfinancial.com
Media - Eva Jura: ejura@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
