SANTO DOMINGO, Dominican Republic, Nov. 9, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), is mobilizing its exploration strike team for an intensive 90 days of exploration on its precious and base metal claims in the mineral rich Hispaniola Gold Copper Arc in central Dominican Republic.
Last weekend the team led by seasoned geologist Elpidio Moronta completed soil sampling of the Walter claim strategically located 1 mile west of Barrick Gold's Word Class "Pueblo Viejo" mine with reported proven and probable reserves of about 25 million ounces of gold currently valued at $38 billion on the bullion markets.
The team plans to shortly move to the Eliza claim immediately north of Maimón and search for alluvial gold deposits for a distance of 1 kilometer from the south bank of the Yuna River.
A few Kilometers to the north is the 2,101 hectare Henry claim, which according to the state geological maps, indicates gold, silver, copper and zinc immediately south in the same Maimón Formation and will be next in line for exploration work by the Company. The first phase of exploration on the Henry claim is expected to consist of stream sampling followed by soil sampling.
Again, a few kilometers northwest is the Maria claim which lies a few hundred yards from Loma Miranda where Xstrata Falcondo nickel has acquired properties in anticipation of starting their second round of nickel mining operations. Early in 2013, Santo Mining is planning a stream sediment survey of the Maria claim.
The remaining Alexia and Francesca and Nathaniel claims are several kilometers northwest and consist of artisanal and historic gold mining areas around Moncion and Dajabon. Stream sediment and soil sampling in these claims are expected to start late winter and early spring of 2013.
At the conclusion of these geochemical surveys gold, silver, copper and zinc anomalies will be analyzed and prioritized for in depth exploration.
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.
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Further information on the Company and its filings can be found at www.sec.gov
Notice Regarding Forward-Looking Statements
This press release 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 undertake exploration operations on its current mineral claims, 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.