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Santa Fe Minerals confirms priority vanadium, gold targets at Challa Project

Proactive Investors Wednesday, 14 November 2018
Santa Fe Minerals Ltd (ASX:SFM) has concluded an extensive mapping and surface sampling program at its Challa Project in Western Australia. Challa Project area and prospects Watson’s Well vanadium prospect Detailed mapping of the Watson’s Well magnetic anomaly confirmed multiple magnetite layers within thick meta-gabbro and several pegmatite sills. Grade variation from in-situ rock chip data for the cumulate magnetite layers vary between 1.64% and 0.31% V2O5 (22 samples). The sampling completed across the magnetic anomaly display a consistent elevated >0.60% V2O5 (vanadium pentoxide) anomaly. Multiple outcrops across the magnetic anomaly confirm the lateral continuity of the pegmatites. Pioneer/Windsor gold prospect Santa Fe also completed surface sampling and rock chip sampling at the Pioneer/Windsor gold prospect. Field mapping identified a high-grade small mine working to the north of the Pioneer North site. A total of three high-grade historical mine workings with best grades of 19 g/t, 8.9g/t and 25.3 g/t gold have been mapped within a 2.2-kilometre gold-copper-bismuth mineral system. Forward plan Priority targets at Watson’s Well, Pioneer/Windsor and Paynesville Central are being assessed for future field activities. Reverse circulation drilling (Watson’s Well) and aircore drilling (Pioneer/Windsor and Paynesville Central) are most likely to be undertaken. Meanwhile, assay results submitted from surface sampling completed at the Yard Well, Saffron East and Wagoo Hills areas are expected shortly.
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