San Anton Resource Corporation
TSX : SNN

San Anton Resource Corporation

January 21, 2008 09:01 ET

San Anton Announces Expansion Drilling Results

OTTAWA, ONTARIO--(Marketwire - Jan. 21, 2008) - San Anton Resource Corporation (TSX:SNN) announces results of ongoing expansion drilling on the San Anton property, located in the state of Guanajuato, Mexico. The Company anticipates that its interest in the property will increase from 55 per cent to approximately 65 per cent by year end as the result of exploration expenditures during the year. Expansion drilling results received to date (see Table 1) have included:

- 309m grading 15g/t Ag, 0.10% Cu and 0.07g/t Au in hole SA-285 including 102m grading 16g/t Ag, 0.14% Cu and 0.14g/t Au

- 403m grading 10g/t Ag, 0.11%Cu and 0.11g/t Au in hole SA 286 including 95m grading 13g/t Ag, 0.13% Cu and 0.11g/t Au

- 278m grading 6g/t Ag, 0.16% Cu and 0.10g/t Au in hole SA-289 including 47m grading 15g/t Ag, 0.23% Cu and 0.03g/t Au

- 131m grading 8g/t Ag, 0.18% Cu, 0.07g/t Au in hole SA-303 including 24m grading 15g/t Ag, 0.30% Cu and 0.06g/t Au

Gregory Bowes, President and CEO stated that "results received to date have encountered wide intersections of mineralization which will expand the already significant resource at Cerro del Gallo." He added that "the mineralized envelope is still open along a NNW/SSE trending structural and alteration corridor which we will continue following to further expand the resource and determine if it contains other higher grade areas."

The Cerro del Gallo resource already contains 4 million ounces of gold, 171 million ounces of silver and almost one billion pounds of copper, of which 74 per cent is classified as measured and indicated. The deposit is well located in an area with good infrastructure and has a very low stripping ratio. The second stage of metallurgical test work is expected to be completed in approximately four weeks following which the Company will initiate a Preliminary Assessment including a new resource estimate. The Preliminary Assessment is expected to be completed by mid year.

In 2007 drilling on the 237 km2 San Anton Property consisted of 119 reverse circulation ("RC") holes totaling 25,832m and 36 core holes totaling 16,564m for an overall total of 43,396m of drilling. Infill and expansion drilling on the Cerro del Gallo deposit accounted for 85 holes totaling 28,061m (see Figure 1 for location of drilling holes). The balance consisted of exploration drilling on the Carmen Providencia, Ave de Gracia and La Paz epithermal vein systems and on the San Luis Rey prospect. The Company is still awaiting assay results from exploration drilling and will be releasing results in the coming weeks.



Table 1
Cerro del Gallo Deposit - Expansion Drilling Results
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HOLE ID From To Interval Au g/t Ag g/t Cu %
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SA-285 13.0 322.0 309.0 0.07 15 0.10
including 220.0 322.0 102.0 0.14 16 0.14
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SA-286 6.0 409.0 403.0 0.11 10 0.11
including 220.0 315.0 95.0 0.11 13 0.13
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SA-287 194.0 396.0 202.0 0.03 3 0.09
including 194.0 237.0 43.0 0.03 7 0.12
including 364.0 396.0 32.0 0.03 2 0.17
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SA-288 18.0 248.0 230.0 0.10 7 0.08
including 18.0 116.0 98.0 0.12 11 0.10
including 188.0 248.0 60.0 0.16 6 0.12
-------------------------------------------------------------------------
SA-289 56.0 450.0 394.0 0.08 6 0.12
including 172.0 450.0 278.0 0.10 6 0.16
172.0 219.0 47.0 0.03 15 0.23
394.0 446.0 52.0 0.15 5 0.17
-------------------------------------------------------------------------
SA-290 286.0 509.0 223.0 0.06 6 0.11
including 368.0 439.0 71.0 0.11 8 0.15
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SA-291 157.0 500.0 343.0 0.09 6 0.10
including 373.0 475.0 102.0 0.12 12 0.10
451.0 475.0 24.0 0.05 29 0.10
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SA-292 288.0 589.0 301.0 0.02 5 0.08
including 500.0 589.0 89.0 0.03 8 0.13
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SA-294 137.0 147.0 10.0 0.05 30 0.35
SA-294 227.0 332.0 105.0 0.02 7 0.08
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SA-295 No significant intersections
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SA-296 No significant intersections
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SA-297 522.0 601.0 79.0 0.03 6 0.14
including 563.0 601.0 38.0 0.06 10 0.24
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SA-298 No significant intersections
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SA-299 No significant intersections
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SA-300 456.0 482.0 26.0 0.03 9 0.07
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SA-301 No significant intersections
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SA-302 227.1 288.0 61.0 0.01 14 0.15
including 234.7 272.8 38.1 0.01 18 0.18
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SA-303 227.1 358.1 131.1 0.07 8 0.18
including 234.7 259.1 24.4 0.06 15 0.30
including 330.7 358.1 27.4 0.13 5 0.26
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SA-304 166.1 185.9 19.8 0.01 9 0.07
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SA-305 170.0 603.0 433.0 0.19 4 0.06
including 293.0 364.0 71.0 0.27 5 0.07
481.0 549.0 68.0 0.34 4 0.06
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SA-306 42.7 79.3 36.6 0.02 15 0.11
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SA-307 No significant intersections
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SA-308 No significant intersections
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SA-309 100.6 135.6 35.1 0.02 9 0.04
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SA-310 149.4 184.4 35.1 0.03 12 0.04
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SA-311 141.0 400.0 259.0 0.12 4 0.08
including 181.0 210.0 29.0 0.08 4 0.17
263.0 400.0 137.0 0.20 4 0.08
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SA-312 0.0 202.7 202.7 0.05 8 0.05
including 111.3 131.1 19.8 0.03 23 0.09
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SA-313 64.0 131.1 67.1 0.06 6 0.05
including 64.0 86.9 22.9 0.08 9 0.11
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Rob Stewart, Vice President 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.

Figure 1: Cerro del Gallo - 2007 Infill and Expansion Drilling Program available on Marketwire's Web site at the following address : http://www.ccnmatthews.com/docs/SNNM0121.jpg

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.

The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • San Anton Resource Corporation
    Gregory Bowes
    President & CEO
    613-729-9006
    or
    San Anton Resource Corporation
    Christian Del Valle
    Manager, Corporate Development
    613-729-9006