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Sanatana Resources Options Jackfish Property in Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 7, 2017) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has entered into three optio
About this update from Gold Strike Resources Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 7, 2017) - Sanatana Resources Inc. (\"Sanatana\" or the \"Company\") (TSX VENTURE:STA) has entered into three option agreements that allow Sanatana to acquire a 100% contiguous interest in the Jackfish property, located in Ontario (the \"Property\"). Overview The Property is located on the northern shores of Lake Superior, 20 km east of Terrace Bay via Highway 17, Ontario. The Property comprises 34 mining claims covering 3,664 hectares (9,054 acres). Geologically, the Property lies within the Wawa subprovince of the Superior province of the Canadian Shield, specifically the metavolcano-sedimentary Schreiber-Hemlo greenstone belt. The belt is known for its namesake Hemlo gold mine and, although similar geological and structural targets analogous to Hemlo exist in the greenstone rocks of the northern parts of the Property, the focus is an area containing high-grade gold bearing veins within the granitic rocks on the eastern margin of the Terrace Bay Batholith, that underlie the Property. There is also an interesting copper-in-soil anomaly located on the northeastern part of the Property. Further information on the Property will shortly be posted to the Company's website, www.sanatanaresources.com. Peter Miles, President and CEO of Sanatana, commented, \"Sanatana is pleased to be back in the mineral exploration business and the Company's board of directors and management are looking forward to starting exploration on the Jackfish property.\" Mr. Miles further stated, \"Critical to Sanatana is the geological prospectivity of the Property with 35 recent grab samples from mineralized quartz veins returning assay results from .35 to 44 g/t gold with an average of 7.58 g/t gold; its location in the mining friendly jurisdiction of Ontario; and its proximity to infrastructure and major roadways, making exploration and any potential development far more cost effective. In addition, the three option agreements all have terms that help to lever Sanatana's corporate structure and expertise.\" Buddy Doyle, Vice-President Exploration of Sanatana, commented, \"We are pleased to be working alongside the Ontario Geological Survey (\"OGS\"), a division of the Ministry of Northern Development and Mines, which is actively mapping and sampling the Jackfish area, corroborating the high-grade gold occurre...