SANTO DOMINGO, Dominican Republic, Dec. 7, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corporation (OTCBB:SANP),(the "Company"), is pleased to announce that Santo Mining has received the Acme Laboratories Certified Analysis (the "Analysis") on 193 soil samples collected in November of this year. This Analysis identifies the presence of several gold and silver anomalies on the 100% owned WALTER exploration concession application located one mile east of Perilya Cerro de Maimon Mine (VMS) and west of Barrick's Pueblo Viejo's world class mine to the east.
On November 14, 2012, 193 geochemical soil, rock and sediment samples were delivered to Acme Laboratories for multi-element analysis including gold, silver and copper. The samples were systematically collected by the Santo Mining exploration team based on a 100 meter grid pattern over the entire area at a consistent depth of 70 centimeters using a combination of a small gas-powered auger to bore a hole and followed by a hand auger to retrieve a sterile sample. According to a previously Santo Mining press release by a qualified geological consultant "This concession has considerable potential of finding Volcanogenic Massive Sulfide (VMS) deposits similar to Perilya Gold's nearby Cerro de Maimon, Loma Pesada, Loma La Mina, etc."
Preliminary interpretation of all first-pass, multi-element soil geochemical assay results by staff geologist Elpidio Moronta has identified four high priority and fourteen lower priority prospective areas for gold mineralization. To compensate for the loss or dispersion of key metals of economic interest, including gold, silver and copper, Santo Mining has adopted a multi-element approach where key "pathfinder" elements were identified to highlight surface and near-surface soil geochemical anomalies.
These gold anomalies have generally been supported by corresponding silver, arsenic, barium, copper, mercury, nickel and lead pathfinder metallic elements. The pathfinder elements are often associated with gold deposits and generally more soluble and transportable and their detection can lead geologists to gold mineralization. These pathfinder elements are relatively stable in the near-surface weathered environment. However, during the final analysis of the geochemical results, particular emphasis will be given to lead and the heavier pathfinder elements which can provide more reliable identification of drill targets in transported alluvium mediums.
Surface Soil Geochemical sample assays from the east portion of Walter revealed anomalous gold with assays up to 50 ppb which is more than 15 times the estimated regional background for gold of <3.0 ppb. The Acme analysis includes the following anomalies by element: Au (gold) 4 separate anomalies of 50.0, 26.9, 17.5 and 17.3 ppb; Ag (silver) with several between 45-182 ppb; and Zn (zinc) 50-558 ppm or parts per million. The strength of these silver, arsenic, barium, mercury and lead anomalisms may point to the existence of mineralization in the Maimon schist bedrock (bimodal metavolcanics formation) that reportedly lies below the 10m deep quaternary alluvial sediments. For the novice this approach to surface soil geochemical surveying only measures trace elements of gold and silver in ppb or parts per billion which have leached into overlying soils and does not represent the grade of potential buried ore bodies which are measured in ppm (parts per million) or its equivalent g/t (grams per metric ton).
It is significant to note that Barrick Gold's Pueblo Viejo property, with reported 25 million ounce gold reserve, is 1 mile to the east, and Perilya's Cerro de Maimon gold mine property is 1 mile southwest of Walter.
Al French, the CEO of Santo Mining, stated "Now that we have successfully completed exploration Phase II we are optimistic that we are on track to define multiple shallow drill targets for gold. During the next two weeks we will focus on collecting close-spaced follow-up surface soil geochemical samples surrounding the four gold anomalies. Meanwhile the Acme assay reports have been forwarded to qualified geologists for a detailed technical review, interpretation, and preparation of anomaly charts."
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
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
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 for continuing exploration, 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.