Samaranta Locates Areas of Alteration and Anomalous Gold; Developing Trenching Targets in Advance of Drilling
VANCOUVER, British Columbia, Jan. 19, 2012 /PRNewswire/ –Samaranta Mining Corporation (TSX.V:SAX or “Samaranta “) has received a detailed geological compilation and air photo interpretation and initial sample results from the Phase 1 field program on the Guadalupe property in Segovia, Colombia. The compilation and the associated groundwork complement the recent airborne geophysical survey all support the hypothesis that the dominant structures in the area. Along these general trends significant areas of hydrothermal alteration have been identified with variable concentrations of sulphide mineralization. The combination of structure, geology, alteration and variable levels of mineralization indicate strong potential for the flat lying cap and seal style polymetallic quartz vein mineralization found on the adjoining Frontino Gold Mines (“FGM”) to follow the N-30E trend and onto the Company’s Guadalupe property.
Structural interpretation was derived from interpretation of air photos, differential GPS locations and field measurements which have been incorporated into a Included in the interpretation is a 1:5000 scale topographic map with 5 metre contours.
A 1:5000 surficial geology map was also completed While large portions of the property are covered by overburden and vegetation it also appears there is a thin veneer of volcanic rocks overlying portions of the prospective granodiorites. In locations where prospective geology or alteration was identified representative samples were collected and submitted for assay. Areas of anomalous gold and polymetallic mineralization have been identified with follow up trenching planned. While none of the samples collected returned ore grade concentrations of gold, management views the results as highly encouraging given the anomalous samples were collected from rare areas of outcrop on surface and empirical evidence indicates the grades at FGM tend to increase to depth.
Two of the most promising areas appear to be the projected extensions of veins that are currently being mined at FGM’s San Nicholas Mine and an area of extensive hydrothermal alteration associated with airborne geophysical anomalies. Quartz vein material and associated alteration have been located north east of the San Nicholas mine as well as in what appears to be a parallel structure. The Company is currently designing a mechanised trenching program to test priority areas of mineralization and create access for a subsequent drill program Both targets have good access with the San Nicholas extension being less than 200 meters from existing roads and the second target associated with the hydrothermal alteration about 500 meters from existing roads. The Company is actively seeking permits for trenching and drilling of these recently defined targets and will begin trenching activities once permits are in place.
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,
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, President Barry Girling ------------------------ ------------- Tel: 604 641 1210 604 639 4528 ------------------ ------------ firstname.lastname@example.org email@example.com ----------------- ----------------------------
SOURCE Samaranta Mining Corporation