Highlights

  • Santana reported 26.9m at 13.0g/t gold from 152.3m in hole MDD537, with an estimated true width of 24.9m.
  • MDD536 returned 34.4m at 8.8g/t gold from 160.7m, with an estimated true width of 30.6m.
  • The continuing 16-hole, 3,503m infill programme targets the HG1 domain at Rise and Shine.
  • Average spacing in targeted early-mining areas has narrowed from approximately 25m to 21m.
  • The company has interpreted a separate deeper high-grade domain within the existing LG1 area.

Santana Minerals Limited (ASX:SMI) explores and advances gold deposits within its Bendigo-Ophir Gold Project in New Zealand, including Rise and Shine (RAS). On 4 November 2026, the company reported additional infill drilling assays from RAS, concentrating on the high-grade HG1 domain and its margins. The results add geological information for areas Santana identifies as important to its proposed early open-pit Mining sequence.

How Broad Were the Latest HG1 Gold Intercepts?

The latest assays included 26.9m at 13.0 grams per tonne (g/t) gold from 152.3m in MDD537 and 34.4m at 8.8g/t from 160.7m in MDD536. Santana Minerals (ASX:SMI) estimated true widths of 24.9m and 30.6m respectively. Hole MDD534B returned 10.2m at 10.1g/t from 175.8m, with an estimated true width of 8.9m, followed by 14.4m at 3.3g/t from 189.7m, with an estimated true width of 12.9m.

MDD535 also recorded 17m at 5.9g/t from 176m and 8.5m at 4.2g/t from 198m. Their estimated true widths were 14.6m and 7.3m. Santana Minerals (ASX:SMI) said the infill results generally aligned with predictions from its existing resource model. The announcement did not establish a new resource total.

Why Does Closer Drill Spacing Matter?

The ongoing infill programme comprises 16 holes totalling 3,503m, with average spacing reduced from approximately 25m to 21m in the targeted early-mining areas. Santana Minerals (ASX:SMI) is using the additional drill intersections to refine the geometry and grade distribution of HG1. The results will inform further modelling.

Results from transitional areas illustrate the variation across the HG1 and lower-grade LG1 boundary. MDD531B included 3.3m at 40.3g/t from 173.8m, with an estimated true width of 3.0m. MDD532 returned 3.7m at 17.6g/t from 156.3m, with an estimated true width of 3.4m.

What Is the Newly Interpreted Deeper Domain?

Santana Minerals (ASX:SMI) identified a previously unrecognised high-grade domain within the existing LG1 area, below and approximately parallel to HG1. Results cited for this deeper interpretation include 2.0m at 89.5g/t from 197m in MDD528, with an estimated true width of 1.7m, and 2.0m at 34.6g/t from 209.2m in MDD534B, with an estimated true width of 1.8m.

Another interval, in MDD504, measured 4.2m at 14.5g/t from 211.8m, with an estimated true width of 3.3m. Santana Minerals (ASX:SMI) said it is assessing the results for future resource modelling and mine planning.

What Work Remains Before Development?

The company continues infill and extensional drilling across the wider project, alongside regional exploration and field sampling. Metallurgical, environmental, geotechnical and hydrological investigations are also continuing to support pre-mining studies. No revised resource estimate or mine schedule was announced.

Key Insights

Santana Minerals (ASX:SMI) has reported substantial HG1 gold intercepts and tighter drilling coverage at Rise and Shine, while identifying a deeper zone for further evaluation. Resource modelling and development studies remain ongoing.