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Santana Minerals Limited (ASX:SMI)

ALERT: Price-sensitive ASX Announcement for SMI
Current share price for SMI : $0.428 -0.028 (-6.04%)+
Announcement
Release
7 Jul 2026 10:04AM
Price at Release
$0.455
Full Release
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Summary
Santana Minerals Limited has reported high-grade gold intercepts from an infill drilling campaign at the Rise and Shine (RAS) deposit, where early-stage open pit mining is planned. The drilling results, from the first four holes of a 12-hole program, confirm the position of pre-production mining, ensuring a consistent ore feed at the planned processing rates. Significant gold intercepts were found in drill holes MDD504, MDD524A, and MDD525, indicating the continuity and high-grade nature of the mineralized zones. The results are expected to bolster confidence in the high-grade ore, which will underpin the early years of production. Santana's CEO, Damian Spring, emphasized the focus on refining the mine plan in light of these results. With permitting and financing progressing, the company is preparing for further development stages.
Key Points
  • High-grade gold intercepts from infill drilling at Rise and Shine deposit.
  • 12-hole drilling program aimed at confirming pre-production mining positions.
  • Significant gold intercepts in drill holes MDD504, MDD524A, and MDD525.
  • Results increase confidence in high-grade ore for early production years.
  • Focus on refining mine plan as permitting and financing progress.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.