Samaranta Mining Corporation (TSX-V: SAX.V – News) (“Samaranta”) announces that further to its press release of July 14, 2011, MPX Geophysics of Markham Ontario (“MPX”) has completed 501 line kilometer Helicopter Magnetometer and Gamma Spectrometer (Radiometrics) survey on four separate Samaranta properties, including the Guadalupe property, located adjacent to the northern boundary of the Frontino Gold Mines in Antioquia, Colombia.
The raw unfiltered field data from the survey has revealed several areas of interest. A preliminary surface investigation of select areas of interest and other targets is underway. The data from the complete survey is now being processed in an effort to identify anomalies which may represent massive sulphide mineralization. Upon the completion of a detailed interpretation and a surface exploration program, Samaranta intends to undertake an aggressive diamond drill program of the most prospective targets. In anticipation of drilling the Company has issued tender for drilling and is currently reviewing bids.
Dr. Volkmar Hable, President and CEO of Samaranta stated, “We are anxious to see the interpretation of the airborne survey and how it fits with the known mineralization at Frontino. These are very exciting times for Samaranta given the adjoining property has been mined for over 150 years while our property is about to be drill tested for the first time.”
Samaranta’s key asset is the Guadalupe property that is strategically located on the northern boundary of the Frontino Gold Mine (“FGM”). FGM has been in production since about 1852 with recorded production totaling about 4.6 million ounces. Both Guadalupe and FGM are underlain primarily by the same granodioritic rocks of the Segovia batholith. The Segovia Gold Belt is a region of granodioritic rocks measuring approximately 300 km in length by up to 75 km in width defined by a strong fault zone system trending approximately north-south. Gold mineralization within this belt is primarily associated with quartz veins and narrow vein swarms that are spatially related to the major north to northeast trending fault structures.
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
SAMARANTA MINING CORPORATION
Volkmar Hable, President
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