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Highlights
- Santana Minerals secures fast-track approval for Bendigo-Ophir project.
- Prefeasibility study completion expected in December 2024.
- Encouraging gold intercepts confirm the project's growing potential.
Santana Minerals (ASX:SMI) is steadily progressing its Bendigo-Ophir Gold Project in Central Otago, New Zealand. In its latest September 2024 quarterly report, Santana highlighted substantial advancements, including the recent fast-track approval granted by the New Zealand government. This designation not only underscores the project’s importance to the region but also streamlines the approval process, with final consent anticipated by mid-2025.
The fast-track approval reflects the project's expected economic impact on the region and provides an expedited timeline for necessary consents and permits. CEO Damian Spring commented on the approval, describing it as a crucial step forward, enhancing the company’s capacity to transition into production more efficiently. This momentum aligns with Santana’s broader goals of positioning Bendigo-Ophir as a significant gold-producing asset in the region.
Santana is nearing completion of a prefeasibility study (PFS) for the Bendigo-Ophir project, expected to conclude in the December 2024 quarter. The PFS will offer a comprehensive assessment of the project's economic viability and guide next steps as the company progresses towards potential production. The Bendigo-Ophir project spans multiple prospective zones, each with promising mineralization that continues to support the project's high-grade profile.
Recent drilling at the RAS deposit within the project area yielded promising results, with notable gold intercepts, including a 41.6-meter stretch averaging 8.6 grams per tonne of gold. These findings support the initial estimates, with an Indicated resource estimate reaching 1.45 million ounces of gold. The results from the RAS deposit, along with ongoing exploration at satellite areas like SRX, further validate the project’s potential and suggest continued resource expansion possibilities.
In addition to drilling and resource estimation, Santana has made strategic advancements in infrastructure development. The acquisition of a key land package, including water supply access, reflects Santana's commitment to securing resources essential for long-term operations. Access to reliable water resources is a vital aspect of mining operations, ensuring sustainability and efficiency in future production activities.
With its Bendigo-Ophir project progressing steadily, Santana Minerals remains focused on meeting regulatory and operational milestones. The combination of fast-track approval, promising PFS results, and robust exploration achievements is positioning the Bendigo-Ophir project as a significant contributor to New Zealand’s gold production landscape.
