Mar. 4, 2011 (Filing Services Canada) -- Santa Barbara Resources Limited (SBL - TSX Venture), is pleased to announce geochemical sampling results from its San Francisco Project located in the Maricunga District of Region III, Atacama, Chile.
A total of 422 LAG samples and 5 rock samples were taken over the 7 km long, and up to 2 km wide, mapped area of hydrothermal alteration on the San Francisco property. Assay results ranged from below detection to 337 parts per billion (ppb) gold for the LAG samples. The rock samples represent float which ranged from below detection to 3.61 grams per tonne (g/t) gold.
Santa Barbara's President Christoph Lassl commented: "The geochemical sampling program has outlined extensive areas of anomalous gold which include the area of the previously reported gold bearing trenches and the occurrence of significant gold values in grab samples. Additionally, two further samples of float have returned outstanding gold values in the context of the Maricunga belt from banded black quartz veinlets and an oxidized banded quartz veinlet, further highlighting the mineral potential of the property. The results from this survey will guide the upcoming ground magnetic survey and will form a key component for the definition of drill targets at San Francisco."
Santa Barbara has the right to acquire, subject to certain option requirements, a 100 % interest in the 3,740 hectare 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.
The geochemical sampling was conducted on east-west orientated lines with a spacing of 200 m between lines and 100 m between samples on each survey line. The LAG samples consist of the naturally occurring fine fraction (>2 mm and <6 mm) of surface residual weathering material (there is no soil development in this terrain) collected on surface at each sample location.
The geochemical survey outlined a coherent zone 1,400 metres (m) x 800 m with >5 ppb gold, including an 800 m x 500 m core zone with >20 ppb gold. More subtle gold anomalies covering areas of 2,000 m x 900 m and 600 m x 300 m are present immediately to the east as well as further to the north of the principal anomaly. All three anomalies are fully contained within the San Francisco property.
A map of the gold distribution of the geochemical sampling program can be viewed on the Company's web site at www.sbr-ltd.com.
Two of the five rock grab samples (float) which contained black banded quartz veinlets and an oxidized quartz vein with banded textures returned assay values of 3.42 g/t gold and 3.61 g/t gold respectively, confirming the presence of high gold values in quartz veinlets, which is characteristic for Maricunga style gold mineralization.
The geochemical samples were prepared and fire assayed with ICP-AES finish using a 50 gram assay charge, and the rock samples were prepared and fire assayed with an atomic adsorption finish using a 50 gram assay charge. Additionally, all samples were analyzed by a 35 element aqua regia ICP-AES method plus trace mercury detection by cold vapour. 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 drill intersections from surface of 154 m of 0.45 g/t gold with the hole ending in mineralization and 94 m of 0.47 g/t gold. In total, a 4,533 m reverse circulation drill program has been completed by Santa Barbara. Santa Barbara has the option, subject to certain option back-in rights, 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$ 3.7 million in the treasury.
Additional information can be found on the Company's website www.sbr-ltd.com.
ON BEHALF OF THE BOARD
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: 56-2-2462545, Fax: 56-2-2462565 or email: firstname.lastname@example.org.
Address: Manquehue Norte 151 - Oficina 906, Las Condes, Santiago, Chile.
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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