Samaranta Begins Constructing Access to Priority Drill Targets Detailed Mapping, Sampling and Trenching in Target Areas Underway
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Samaranta Begins Constructing Access to Priority Drill Targets Detailed Mapping, Sampling and Trenching in Target Areas Underway
Vancouver BC, February 7, 2012 Samaranta Mining Corporation (TSX.V:SAX or “Samaranta ”) announces it has commenced preparatory work for the inaugural drilling program on its flagship project Guadalupe in Segovia department, Colombia. The Company has received drill targets from a geological contractor who is intimately familiar with the area and crews have been mobilized to the general areas of the proposed collar locations for the final detailed mapping, sampling and trenching program prior to drilling beginning. Construction of access trails to mobilize the drill onto these priority targets is now underway. As noted in the Company’s press release of January 19, 2012 the Guadalupe property lies immediately north of Frontino Gold Mines (“FGM”) and compilation work completed to date indicates the dominant gold bearing structures in the area trend N-30E . Two priority drill targets have been identified as a result of this compilation.
Target area 1 lies on the south-eastern portion of the Guadalupe property immediately adjacent to Frontino Gold mines. The proposed targets lie approximately 150 metres west of an existing serviceable gravel road that provides good access. Surface mapping indicates the target is underlain by the prospective granodiorites rocks that host the majority of mineralization at FGM. Several parallel north east trending structures have been identified during the course of the surface mapping program. This target lies to the east of the projected extension of the San Nicholas mine trend. The geophysical signature of the target are consists of magnetic depletion and potassic alteration. Drilling by FGM of a similar target also lying to the east of the San Nicholas Mine structure led to the discovery of the Sandra K mine. Medoro Resources Ltd (now “Gran Colombia Ltd”) NI43-101 illustrated select samples of up to 150 g/t gold and 217 g/t silver were taken as part of its underground exploration at Sandra K. The intention for the trenching program is to expose stratigraphy perpendicular to the north east trending structures. Drill collar locations will be based on the results of the initial testing.
Target Area 2 lies approximately 500 meters west of Target Area 1. While this target lies approximately 600 meters north of the FGM – Guadalupe claim boundary, it appears to be approximately on strike with the projected extension of the San Nicholas Mine structure. Little historic information with respect to average grade or tonnage mined at San Nicholas is publicly available, but local anecdotes suggest the vein structure was mined up to a point very close to the projection of the FGM – Guadalupe claim boundary. The target area is primarily underlain be strong hydrothermal alteration of a felsic tuff. This volcanic unit is interpreted to form a thin veneer which overlies the granodiorite unit that is the host of most mineralization at FGM. The area of hydrothermal alteration is quite widespread and lies between two North East trending magnetic lows identified as prospective targets during the interpretation of the airborne survey. Trenching of this target is intended to identify areas with the most pervasive hydrothermal alteration in advance of drill testing the prospectively of the underlying granodiorites.
The preparatory work and construction of access is expected to take about 30 days with drilling to begin shortly thereafter
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
SAMARANTA MINING CORPORATION
Per: Volkmar Hable,
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Volkmar Hable, PresidentBarry Girling
Tel: 604 641 1210604 639 4528
info(at)samaranta.cawbg(at)malaspinaconsultants.com
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Samaranta Mining Corporation
404-999 Canada Place
Vancouver, British Columbia
Kanada V6C 3E2
Tel: +1 604 641 1210
Fax: +1 604 641 1214
Email: info(at)samaranta.ca
Web: www.samaranta.ca
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