Santo Mining Negotiating Pipeline of Eight Additional Gold Claims in Dominican Republic
SANTO DOMINGO, Dominican Republic, — Santo Mining Corp. (OTCBB:SANP), (the “Company”), is pleased to announce that it iscurrently negotiating an LOI with Gexplo for additional precious and base metal claims (gold, silver, copper, zinc, etc.) in the Dominican Republic. Recently Santo Mining acquired 100% of the Walter, Alexia, Maria, Francesca, and Henry from Gexplo and now the Company is seeking to increase shareholder value through the acquisition of additional mining claims.
Gexplo owns what is likely the largest portfolio of metallic claims in the Dominican Republic. These promising claims all lie in the heart of the famed Hispaniola Gold Copper Belt that is host to world class mining operations such as Barrick Gold, Perilya Gold, Xstrata Falconado Nickel, and ongoing exploration by Goldquest, Unigold, Newmont, Everton, and many others.
The Company believes that one of the claims that it is negotiating has tremendous potential as it is located just 200 meters southeast of Barrick Gold’s World Class Pueblo Viejo mine, which is reporting 25.3 million ounces of proven and probable gold reserves.
The Company is looking to acquire additional five claims which lie in the mineral rich Tireo volcanic formation deep in the southwestern interior. These surround Goldquest’s properties including this summer’s impressive Romero gold strike north of San Juan. Two of Gexplo claims are within 2-3 kilometers of the Romero strike zone where Goldquest reports the following drill intercepts: 231 meters @2.5 g/t gold; 258 meters @ 4.5 g/t gold; and 235 Meters @ 4.7 g/t gold.
In addition, the Company is assessing two promising San Cristobal claims which overlay former gold and or copper mines discovered from researching national mining office charts dating back 50 years or more.
To better understand these opportunities the Santo Mining geological consultants are planning to expand their exploration activities to include due diligence on these target properties which would include: Rock ,soil and sediment sampling and possibly a geophysical survey in order to better identify and thus prioritize potential near-term gold production opportunities.
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. For more information visit our website 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