Santo Mining, who is doing some superb work in the Dominican Republic, reported news today out of their Charles Claim, as geochemical analysis of rock sampling comes back with 10.79 g/t silver and over 1% copper.
These are solid reads from the silver-copper rich host formation known as the Tireo and the results accentuate the prime geographical position of this claim nicely, lying as it does, smack next to Goldquest’s La Escandalosa claim (trenching results like 8.71 g/t gold over 91.8 feet). Work done a decade ago by Goldquest and Goldfields in the region led to kicking up their five-site, 22-mile long swathe of areas of heavy gold and copper mineralization (Romero, La Escandalosa and etc.), with the most recent work done in 2012 at La Escandalosa showing several bonanza grade intercepts as high as 847 feet grading 7.88 g/t Au and 1.43% Cu.
In this regional geologic context, especially considering the undeveloped nature of the lands, the rock sampling done by SANP looks cherry. Sample processing was handled by well-known Vancouver-based industry benchmarking firm, Acme Labs, who performed multi-element and fire-assay analysis. With these kinds of fresh reconnaissance survey results in hand, from just northeast of what is the biggest gold discovery in the Dominican Republic in two decades, shareholders at SANP are no doubt beaming with pride.
This comprehensive surveying effort of the 687-acre Charles site was begun back in March by the company’s ingeniously designed mobile strike team, headed up by Elpidio Moronta. The effort managed to capture quite a high-res portrait of the site’s mineral potential. Stream sediment sampling of the Rio Guayabo and Rio Piedra Blanca rivers/tributaries, combined with grab and outcrop samples, including ones from several key areas of the Rio Piedra Blanca river, have yielded a clear picture, with even the lower end of the spectrum offering quality grades.
President of SANP, Al French, told markets that the exploration team is already headed back out the door to Charles to do some more detailed sampling in the prospective zones identified by these survey results. French also explained that management was putting in some really late nights back at the company’s Santo Domingo offices, in order to quickly secure as many as four more claims clustered in the target area. These new claims are all around Goldquest’s bonanza claims and French indicated that SANP was looking at applying the recent (Mar 12) $16M commitment (an equity enhancement program designed to spur SANP’s aggressive exploration plans) from New York-based Magna Group affiliate, Hanover Holdings I, LLC, to development of the Charles.
For more information on Santo Mining, visit www.SantoMining.com
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Magna Group Capital is an Equity Line financier. They buy your stock at a steep discount and resell it into the market to the unsuspecting public while trying to make a big announcement to move the stock up. This pump and dump operation is the hallmark of their "financings". Look at the companies they sign up, they end up in DEATH SPIRALS and go to zero.
http://investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/
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