Toronto, ON - San Anton Resource Corporation (SNN:TSX) is pleased to report the engagement of the lead engineering companies – Ausenco Ltd. (ASX:AAX) and Golder Associates Pty. Ltd. of Brisbane, Australia – to assist with the current study being undertaken on its Cerro del Gallo deposit, located in the state of Guanajuato, Mexico. The study is on schedule for completion by the third quarter 2008. All metallurgical test work for input into the study has been completed, and results are being compiled. Multiple flow sheets will be evaluated and based on the economic evaluation the most beneficial flow sheet will be carried forward into future studies. These flow sheets are based on producing a saleable copper concentrate and the production of gold-silver doré on-site. In addition to this, baseline environmental data continues to be collected by installed monitoring equipment to facilitate the timely execution of the study and the permitting process.San Anton Resource Corporation is also pleased to announce the appointment of Bill Fleshman to the full-time on-site position of Project Manager for the San Anton project. Bill is a geologist with 33 years of continuous experience in the mining industry, managing exploration and development projects in the United States, Australia, Myanmar, Mexico and Norway. He has previously been involved with five exploration projects that were brought successfully into production. Bill will be responsible for overseeing the ongoing regional exploration and supporting current and future studies on the Cerro del Gallo deposit.Expansion drilling results continued to encounter wide intersections of mineralization which will expand the already significant mineral resources at Cerro del Gallo, including:- 228m grading 0.10% Cu, 5g/t Ag, and 0.08g/t Au in hole SA-317 including 15m grading 0.14% Cu, 25g/t Ag, and 0.04g/t Au and 41m grading 0.19% Cu, 7g/t Ag, and 0.04g/t Au
- 459m grading 0.07% Cu, 12g/t Ag, and 0.07g/t Au in hole SA-321 including 201m grading 0.11% Cu, 16g/t Ag, and 0.07g/t Au and 12m grading 0.11% Cu, 35g/t Ag, and 0.02g/t Au
- 157m grading 0.10% Cu, 12g/t Ag, and 0.09g/t Au in hole SA-329 including 50m grading 0.21% Cu, 24g/t Ag, and 0.11g/t Au
- 169m grading 0.09% Cu, 17g/t Ag, and 0.02g/t Au in hole SA-331 including 17m grading 0.22% Cu, 41g/t Ag, and 0.04g/t Au
- 148m grading 0.09% Cu, 9g/t Ag, and 0.06g/t Au in hole SA-338 including 9m grading 0.14% Cu, 45g/t Ag, and 0.02g/t Au
- 26m grading 0.14% Cu, 4g/t Ag, and 0.64g/t Au in hole SA-343
- 163m grading 0.12% Cu, 20g/t Ag, and 0.03g/t Au in hole LP-005
- 126m grading 0.10% Cu, 20g/t Ag, and 0.02g/t Au in hole LP-006
Rob Stewart, Manager Development, said that “Expansion drilling has now been completed up to drill hole SA-344 (see Figure 1) with all results to be included in the updated mineral resource estimate currently being undertaken. The Company anticipates there will be an increase in the size of the mineral resource, primarily in the outer copper-silver domain. No further drilling is planned at this time and the new resource estimate should provide a strong basis for the current and future studies.”John Cook, President & CEO, added “The Company’s main focus is the ongoing work taking place to complete the current study, including metallurgical, pit optimization and further engineering and environmental studies. This is a key step in the advancement of the San Anton project through the feasibility and development stages.”Go to PDF version of the press release for a complete table of "Cerro del Gallo - Summary of Significant Intersections" and for the map of "Cerro del Gallo Resource Expansion Drillhole Location Plan." Rob Stewart, Manager Development and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information in this release. RC samples are assayed in 1.52 metre intervals, at SGS in Toronto, Canada. Gold is routinely assayed using a 30 gram sample, fire assay fusion and AAS finish with all gold values of greater than 1.0g/t routinely re-assayed by SGS using the gravimetric method prior to batch reporting. Silver and copper values are determined on a 2 gram sample, aqua regia-hydrofluoric acid digest and AAS finish with high values checked using a different method. Standard reference material is routinely inserted into the sample stream from diamond core and RC drilling at a rate of 1 in 40 samples and sample blanks every 1 in 100 samples. Field duplicates are inserted every 1 in 50 samples. Analytical QA/QC work is done at a later time at another external laboratory on approximately 5% of selected samples containing above background metal values. About San Anton Resource Corporation San Anton Resource Corporation is an exploration and development company that is listed on the Toronto Stock Exchange and is totally focused on the mining friendly jurisdiction of Mexico. The Company’s principal asset is a 58% interest in the San Anton Property (Goldcorp 42%), which hosts the near-surface Cerro del Gallo gold-silver-copper deposit. The Property is located in a historic gold-silver mining district and has only recently been subjected to modern exploration techniques. This work quickly identified several targets and has led to the delineation of a NI 43-101 Mineral Resource of +10 million ounces gold equivalent. The deposit remains open in several directions. A US $10M program is underway to complete initial engineering and metallurgical studies, to continue expanding the Cerro del Gallo resource, and to drill nearby targets.
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For further information please contact: John Cook, President & CEO / Tel: (416) 987-0856 / Email: johncook@kos.net Christian Del Valle, Manager, Corporate Development / Tel: (416) 987-0856 / Email: cdelvalle@sanantonresourcecorp.com The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of San Anton are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of San Anton are detailed from time to time in the filings made by San Anton with securities regulators. |