Sanatana Resources (TSX-V: STA) has received a letter of intent over the Sutakiki mineral tenure from the Solomon Islands Ministry of Mining, Energy and Rural Electrification. The Sutakiki tenement is located in the centre of the main Island of Guadalcanal. The area is 25 km south east of the capital Honiara.

The LOI allows Sanatana exclusive access to negotiate with local landholders both an initial due diligence (“DD”) visit and should the property pass DD, a surface access agreement (“SAA”).

Once an SAA has been negotiated a prospecting license (“PL”) is issued which gives the PL holder an exclusive three-year term to prospect and explore the Project.

The property is considered prospective for copper gold porphyry-style mineralization.

Previous work included results of up to 51m at 6.52 g/t gold in a skarn, and 354m of 0.13% Cu and 0.5 g/t Au in porphyry-style mineralization.

The Sutakiki project is subject to a letter agreement with Cobre Nuevo Exploration, an Australian private company that can provide up to A$14,500,000 million of funding.

President Buddy Doyle commented: “Sanatana is successfully increasing its profile in the Solomon Islands and is further expanding its portfolio of potentially high-value properties. We would like to thank the Ministry for granting the LOI and our Solomon based team will shortly be in Honiara to conduct initial access negotiations”.

Sanatana Resources is a mineral exploration and development company focused on high-impact properties in Canada and the Western Pacific. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).

Source: Vladimir Basov, for Kitco News