Jan. 21, 2011 (Filing Services Canada) -- Santa Barbara Resources Limited (SBL - TSX Venture), is pleased to announce initial exploration results from its recently optioned 3,740 hectare San Francisco Project located in the Maricunga District of Region III, Atacama, Chile.
On the San Francisco property, an area of hydrothermal alteration, 7 km long and up to 2 km wide, exposes principally argillic alterations with associated color anomalies. During the initial exploration program, geological mapping and sampling of four trenches was conducted. In total 141 samples (typically over 3 m) were collected, with individual sample values ranging from below detection (<0.005 g/t) to 2.20 g/t gold. Of the 121 trench samples 118 are chip panel samples and the other three are channel samples.
Santa Barbara's President Christoph Lassl commented: "We are very pleased with the advances at our new San Francisco project. Only three days after signing the option agreement our field crew was on the ground to commence the exploration program. The significant gold mineralization encountered in trench T 2 is associated with the presence of black banded quartz veinlets. Such veinlets are known to be related to gold mineralization in many of the world-class gold deposits in the Maricunga District. In addition, the other trench results also show anomalous values over significant lengths. Currently we are conducting a property wide geochemical sampling program covering approximately 12 km2. The sampling will cover the entire area of outcropping alteration with the objective of outlining drill targets for the next exploration season."
Santa Barbara has the right to acquire, subject to certain option requirements, a 100 % interest in the San Francisco gold exploration property from Sociedad Legal Minera Pomez VIII Del Campo de Piedra Pomez. The terms of this transaction are summarized in Santa Barbara's press release dated December 7, 2010.
Trench Sampling
Trench T 2 has returned an interval of 21.4 metres (m) at an average grade of 0.85 grams per tonne (g/t) gold followed by 97.5 m of 0.06 g/t gold. Black banded quartz veinlets, indicative of high-level porphyry/epithermal gold mineralization typical in the Maricunga gold belt, have been observed within this mineralized interval. Higher gold grades are associated with the presence of more abundant veinlets. This trench section corresponds to the location where reconnaissance grab samples (floats in trench) of black banded quartz veinlets and breccias previously returned assay values of 3.92 g/t gold and 3.86 g/t gold. Two other trenches show anomalous values of 0.10 g/t gold over 84.6 m and 0.03 g/t gold over 95.2 m. At present the Company cannot make any determination with regard to the orientation or the true width of the mineralization intersected by the trenches.
San Francisco Project - Initial Trench Results
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Interval Trench Samples Minimum Maximum
(g/t gold) (g/t gold)
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21.4 m @ 0.85 g/t gold T 2 7 0.15 2.20
97.5 m @ 0.06 g/t gold T 2 28 0.02 0.42
84.6 m @ 0.10 g/t gold T 1 24 0.04 0.31
95.2 m @ 0.03 g/t gold T 4 19 0.01 0.06
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Quality Control
Samples were prepared and fire assayed with an atomic adsorption finish using a 50 g assay charge. Additionally, all samples were analyzed by a 35 element aqua regia ICP-AES method plus trace mercury detection by cold vapour-AAS methods. All sample preparation and analytical procedures were conducted by ALS Chemex in Coquimbo, Chile.
The results of the San Francisco sampling program and the technical content of this news release have been reviewed by Stewart Wallis P.Geo., consultant to the Company, who is the Qualified Person for the Company.
About the Company
Santa Barbara is also exploring the Sancos epithermal high sulphidation gold project in Peru. Best results to date have returned a drill intersection of 154 m of 0.45 g/t gold with the hole ending in mineralization. In total, a 4,533 m reverse circulation drill program has been completed recently and assay results for the final six holes are expected by mid February 2011. Santa Barbara, subject to certain option requirements and back-in rights, has the right to acquire a 100 % interest in the 6,200 hectare Sancos Project from Barrick Gold Corporation's Peruvian subsidiary.
Santa Barbara is well funded with about C$ 4.0 million in the treasure.
Additional information can be found on the Company's website www.sbr-ltd.com.
ON BEHALF OF THE BOARD
"Christoph Lassl"
_______________________________
Christoph Lassl, President and
Chief Executive Officer
Please visit the Company's web site: www.sbr-ltd.com. For further information, please contact Christoph Lassl, President and Chief Executive Officer. Telephone: 593-2-2904164, Fax: 593-2-2556204 or email: christoph@sbr-ltd.com.
Address: Edificio In-Luxor - Oficina 102, Camilo Destruge N24-633 y Francisco Salazar, P.O. Box 17-07-9719, Quito, Ecuador
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Santa Barbara believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SANTA BARBARA RESOURCES LIMITED.
Unit 1, 15782 Marine Drive
White Rock, British Columbia V4B 1E6
Web page: www.sbr-ltd.com
Source: Santa Barbara Resources Limited (TSX V SBL)
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