| December 3, 2008 |
| Sanatana Reports High Indicator Count With Kimberlite Fragments From Till Sample on the Greenhorn Project NT |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2008) - Sanatana Diamonds Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) reports that it has recently received mineralogical results from a portion of its summer till sampling program at the Greenhorn prospect on the Mackenzie joint venture Diamond project in the Northwest Territories. The highlight of these results is a till sample, containing numerous kimberlitic indicator minerals, located five kilometres to the northeast of the Dharma Kimberlite complex. The abundance and surface textures of these indicator minerals suggest proximity to source. The grains were observed by KIM Dynamics of North Vancouver and they report soft fragile kimberlite attached to many of the pyrope grains. This material is so fragile that it suggests the source is within hundreds of metres from the sample site.
The anomalous till sample contains 178 grains dominated by 114 pyrope, 55 ilmenite, 6 chromite and 3 eclogitic garnet and is our highest pyrope count from a sample to date.
Only partial results from the summer till sample program have been received and the Company awaits final results and microprobe analysis to further refine and enhance our understanding of this new indicator mineral anomaly.
The Company expects to have approximately $5.5 million on hand at the end of 2008 and is currently planning its 2009 exploration program.
Qualified Person
The Company's exploration programs are carried out under the supervision of Sanatana's Director and VP of Exploration, Mr. Buddy Doyle. Mr. Doyle meets the qualified person requirements (as defined by National Instrument 43-101) with 26 years of exploration experience, 16 years of which are in Diamond exploration. Mr. Doyle has compiled, approved and reviewed the scientific and technical information in this press release.
Forward Looking Statements
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control, and include statements regarding cash on hand, resource estimates, potential mineralization, exploration results, completion or continuation of work programs and studies, future plans and objectives, and the existence and proximity of kimberlites to the sampled material. These statements are based on a number of assumptions including cash expenditures through the balance of 2008. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources, but from finding mineral deposits that though present, are insufficient in quantity and quality to be economic or to return a profit from production. Such risks are described in more detail in Management's Discussion and Analysis available at www.sedar.com. There can be no assurance that such statements and information will prove to be accurate and actual results could differ materially from those suggested by any forward-looking statements and information. Sanatana disclaims any obligation to update or revise such forward looking statements and information except as required by law.
About the Company
Sanatana Diamonds Inc. is focused on the exploration of its Mackenzie Diamond Project, comprised of approximately 5.9 million acres of ground under claims and permits, located north of Great Bear Lake and approximately 700 kilometres northwest of Yellowknife in the Northwest Territories of Canada. The Sanatana Mackenzie project is a joint venture between Kennecott Canada Exploration Inc. and Sanatana Diamonds Inc., which Sanatana operates and in which Kennecott has a contributing 15% interest. As part of the joint venture arrangement, Kennecott has made available one of their project geologists and a geophysicist from their pool of experienced staff. Sanatana Diamonds, headquartered in Vancouver, is listed on the TSX Venture Exchange (TSX VENTURE:STA).
The TSX Venture Exchange has not reviewed, nor accepts responsibility for, the adequacy or accuracy of this release. | |