Santa Barbara Resources Limited is pleased to announce additional trench and channel sampling results from its flagship Sancos Project in Peru.
Follow-up sampling at the Sancos Central high-sulphidation epithermal gold target was conducted in the area of the recently reported channel sample containing 4.71 grams per tonne ("g/t") gold over 3 metres (m) (press release June 4, 2012). A total of 33 outcrop samples were collected, ranging in width from 2 m to 8 m with assay values from 0.04 g/t gold to 6.30 g/t gold. Areas of steam heated alteration overprinting vuggy silica alteration were sampled with continuous channel samples.
Santa Barbara's President Christoph Lassl comments: "The potential feeder zone at Sancos Central continues to deliver high grade gold mineralization over significant widths. The high-grade trench result reported as well as the other trenches from this zone all contain significantly higher gold grades than commonly encountered in other areas of the Sancos Project. These results clearly indicate a trend of high-grade gold mineralization within the prospective 750 m long, 300 m wide and over 500 m deep feeder zone at Sancos Central (press release October 13, 2011). The coincidence of favourable alteration, geophysical evidence and rock sampling results is compelling in this as yet not drill-tested area. The existing technical information and its interpretation fit well into the classic exploration model for high-sulphidation epithermal gold deposits."
Trench and Other Outcrop Sampling
High grade gold mineralization averaging 5.00 g/t gold over 13 m has been sampled at Sancos Central within the area of the potential feeder zone to the gold mineralization. This continuous horizontal channel sampling followed up on the recently reported high grade vertical channel sample containing 4.71 g/t gold over 3 m. Additionally, three trenches from the same general area also contain significant gold grades between 0.86 g/t and 0.90 g/t over intervals of between 10 to 15 m. Additional individual channel samples from the same general area, each over an interval of 2 m, contain 1.90 g/t gold and 1.23 g/t gold. It is noteworthy that the gold mineralization encountered in the trenches and individual outcrops is open in both directions. Location maps and assay details are posted on the Company´s website www.sbr-ltd.com .
Sancos Central Trenches
A drill program to test this potentially high-grade feeder zone at Sancos Central as well as the Sancos Northeast anomaly is planned and a total of 22 drill platforms with their respective access roads are already constructed. However, further drilling at Sancos remains subject to additional financing by the Company.
The Sancos Project is located in the mining-friendly Ayacucho Region of Peru. The property hosts a large high-sulphidation epithermal gold-silver mineralized system. Following up on large areas with significant values of gold in trenches, Santa Barbara has drilled 4,533 m at Sancos to date. Gold values have been intersected over more than 200 m vertical extent, starting from surface. The best drill intercepts include 154 m @ 0.45 g/t gold and 94 m @ 0.47 g/t gold, each starting from surface and ending in mineralization, with all intercepts occurring in oxide material. Bulk leach extractable gold metallurgical testwork on drill chips returned 66 % to 93 % gold recoveries with an average of 86 %, obtained from samples up to 232 m down-hole depth (201 m below surface), suggesting excellent leachability to significant depths. Santa Barbara has received a drill permit for the Sancos project from the Peruvian Ministry of Energy and Mines, authorizing the construction of up to 300 individual drill platforms and related access roads over a period of 46 months.
Santa Barbara has the option, subject to certain back-in rights, to acquire a 100% interest in the 6,200 hectare Sancos Project from Barrick Gold Corporation's Peruvian subsidiary.
The samples were prepared and fire assayed with an atomic adsorption finish using a 50 gram assay charge. All samples were analyzed by a 35 element aqua regia ICP-AES method plus trace mercury detection by cold vapour. All sample preparation and analytical procedures were conducted by ALS Chemex in Lima, Peru. ALS Chemex's quality control system complies with International Standards ISO 9001:2008 and ISO 17025. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples.
The technical content of this news release has been reviewed by Stewart Wallis P.Geo., consultant to the Company, who is the Qualified Person for the Company.
About the Company
Santa Barbara is a South American mineral explorer focusing on Peru and Chile. The Company has 22.8 million shares outstanding and about C$ 0.75 million in the treasury.
ON BEHALF OF THE BOARD
Christoph Lassl, President and
Chief Executive Officer
Address: Manquehue Norte 151 - Oficina 906, Las Condes, Santiago, Chile.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Santa Barbara believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.