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Re: News Releases - Wednesday, October 03, 2007
Santoy - Denison Joint Venture Provides Progress Report,
Athabasca Basin, Saskatchewan
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Santoy Resources Ltd. (TSX.V: SAN) is pleased to issue the following
progress report from information provided by our 50/50 Joint Venture
partner, Denison Mines Corp. (TSX: DML) for three of our four Athabasca
Basin, Saskatchewan properties. Santoy Resources' field crews are
completing the work on the Riou River property.
MURPHY LAKE - 15,236 Ha
As previously reported, (please see news release dated July 18, 2007)
drill targets were selected on the basis of the interpretation of VTEM
helicopter supported EM survey. Three
Diamond drill holes have been
completed in September for a total of 1,152 metres as tabulated below:
Hole # Dip UTM Overburden Unconformity Total Depth
ML07-01 -90 545030E 8m 203.5m 334m
6484252N
ML-07-02 -75 545822E 16m 268.2m 385.8m
6483802N
ML-07-03 -90 539633E 16m 326.4m 432m
6495042N
Evaluation of the drill holes continues. Preliminary results from hole
# ML-07-01, indicated weak silicification throughout the sandstone and
weak pyrite from 265 metres to the end of the hole. At 226 metres, a
calibrated Mt. Sopris probe detected an elevated radioactive response
through the rods. Additional ground geophysical surveys are being
planned in preparation to selecting further drill targets.
HATCHET LAKE -- 37,514 Ha
Three drill holes totaling 856 metres were completed on the Hatchet
Lake property in August-September to evaluate three targets selected
from the processed data from a VTEM helicopter supported EM survey.
Details of the drilling are tabulated below:
Hole # Dip UTM Overburden Unconformity Total depth
HL-07-01 -90 553772E 13m 83.5m 301m
6509478N
HL-07-02 -90 561997E 19.8m 39.1m 252m
6512303N
HL-07-03 -90 547832E 2.9m 220.6m 303m
6508692N
Evaluation of the drilling results is continuing. Compilation of
historical exploration is planned in order to select additional targets
for future drill investigation. Based on the compilation work,
additional ground geophysics may be necessary prior to selecting
further drill targets.
FOND DU LAC RIVER -- 56,942 Ha
A sandstone boulder sampling program and a detailed lake sediment
sampling program were completed over the property. The boulder sampling
program was designed to test for clay alteration and samples were
collected every 150 metres, over a total of 85 line kilometres, 353
lake sediment samples were also collected and have been submitted for
analysis. Additional geophysical processing of two airborne target
areas is underway. Further work plans will be determined once the
analytical and geophysical results are received.
RIOU RIVER -- 13,686 Ha
A detailed lake sediment geochemical sampling program is underway
focusing on areas where historical sampling results indicated elevated
values for uranium and indicator elements. A radon in waters sampling
program, and sampling of historical core from the property is also
underway. Additional geophysical processing of the MEGATEM survey data
is being completed to assist in determining the appropriate ground
geophysical follow-up.
The Qualified Person, as defined by National Instrument 43-101,
responsible for the technical data in this news release is Ron Nichols,
P. Eng., Vice-President of Exploration.
About Santoy Resources
Santoy Resources Ltd. is a mining exploration company focused primarily
on the energy sector. Emphasis is being placed on uranium projects in
the Athabasca Basin of Saskatchewan, in Wollaston Domain rocks in
northern Manitoba, in south-central British Columbia, in the Otish
Mountains of Quebec, and in the Central Mineral Belt of Labrador. A
description of our properties, including maps and photographs, can be
viewed on the Company's website at www.santoy.ca.
On Behalf of the Board of Directors
SANTOY RESOURCES LTD.
"Ron Netolitzky"
Ron Netolitzky, President
Cautionary Statement on Forward-Looking Information
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from
the Company's expectations. Certain risk factors may also affect the
actual results achieved by the Company. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.
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Copyright (c) 2007 SANTOY RESOURCES LTD. (SAN) All rights reserved.
For more information visit our website at http://www.santoy.ca/ or send
mailto:info@santoy.ca
Message sent on Thu Oct 4, 2007 at 6:42:27 AM Pacific Time
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