SANTO DOMINGO, Dominican Republic, Sept. 25, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corporation (OTCBB:SANP), (the "Company"), is pleased to announce that it has acquired 100% of the Maria polymetallic exploration claim north of the city of Bonao in the Dominican Republic. This highly prospective polymetallic claim totals 14.86 square kilometers, situated in the Maimon formation of the Hispaniola Gold-Copper Back-Arc. The Maimon formation hosts several polymetallic volcanogenic massive sulphide-type deposits, namely the Cerro de Maimon (4.1 MT @ 2.9% Cu, 1 g/t Au, 35 g/t Ag 1.8% Zn; plus oxide of 664,000 T @ 2.5 g/t Au, 63.8 g/t Ag) and Loma Pesada deposits (1 MT @ 2.2% Cu; source: GMI press release, 13 Dec 2004).
Historical exploration works in the Maimon Formation were mainly conducted by Falconbridge, and consisted of an integral helicopter-borne EM survey and local follow-up ground geophysics and soil sampling visits. Very few targets were tested by drill holes. Located a few kilometers to the south is Barrick Gold's world-class Pueblo Viejo gold mine, which contains 25.3 million ounces of proven and provable gold reserves. The Maria claim is largely uninhabited, and consists primarily of junior timber forest used to produce commercial charcoal. Access is excellent, as the claim is immediately adjacent to the main Dominican Northwest Expressway.
The Santo Mining exploration team is very optimistic about this valuable claim, and is scheduling its own geochemical exploration beginning October 2012.
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 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.