SANTO DOMINGO, Dominican Republic, Nov. 7, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), is pleased to announce that the Santo Mining exploration team supervised by company staff geologist Elpidio Moronta completed the collection of over 220 soil samples from the Walter claim located one mile from Perilya Cerro de Maimón Mine (VMS) to the west and the world class mine of Barrick's Pueblo Viejo to the east.
Within 48 hours the geochemical soil samples will be delivered to Acme Laboratories for multi-element analysis including gold, silver and copper. The samples were taken on a 100 meter grid at a depth of 70 centimeters using a combination of a small power auger followed by a hand auger. Recently 87 active river sediment samples were collected at 100 meter intervals from the streams that meander through the prospective claim.
Even though most of the surface area of the Walter claim is covered by Quaternary fluvial sediments, there are plenty of outcrops in the five creeks that meander through the area. The rock under these sediments is the Maimón Schist, a bimodal metavolcanics formation. Foliation is well developed and a few areas of hydrothermal alterations were observed in the Lajas and Guaré creeks. According to the Company's geological consultants, "This concession has considerable potential of finding Volcanogenic Massive Sulfide (VMS) deposits similar to Perilya Gold's nearby Cerro de Maimón, Loma Pesada, Loma La Mina, etc."
This Thursday, the Santo Mining exploration team expects to begin intensive due diligence on the Gexplo " Richard" claim which lies 200 meters SE of Barrick Gold's Pueblo Viejo mine. According to Dominican State charts the tail of the geological trend that passes below Pueblo Viejo extends in a southeast direction passing immediately below "Richard". The exploration team will spend the first few days mapping the Richard geology and follow up with a geochemical survey consisting of soil sampling on a 100 meter grid similar to that undertaken on the nearby Walter claim.
Santo Mining CEO Al French stated, "Both Walter and Richard lie in the shadow of Barrick Gold's world class Pueblo Viejo mine and we believe that both can be highly prospective for gold, silver, copper and zinc. We are looking to find traces of gold and other metals in the soil medium that may indicate underlying deposits of an economic scale."
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development Company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. A detailed description of the Company's activities is available at www.SantoMining.com.
Further information on the Company and its filings can be found at www.sec.gov
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, such as the Company's plans to acquire a number of highly prospective gold exploration properties, which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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Source:Santo Mining Corp.