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Santana Minerals, an Australian Stock Exchange-listed company, is informing its investors about the potential presence of extensive high-grade gold deposits beneath the secluded farmland situated between the Bendigo and Dunstan Ranges in Central Otago.
Highlighted in an investor package this week, the Rise and Shine site is a crucial component of Santana Minerals’ 272-square-kilometer Bendigo-Ophir Project near Cromwell. Marketed as “the most significant single gold discovery in New Zealand in four decades,” the site is anticipated to yield an estimated 100,000 to 150,000 ounces of gold annually, translating to a minimum of $325 million each year based on current gold prices.
However, the project is still in its early stages, awaiting a mining permit and yet to file a resource consent application. Damian Spring, the CEO from Arrowtown, expressed optimism, stating, “There is more gold in them there hills, as they say,” attributing the success to hard work and good fortune.
Spring emphasized that the project would contribute to the local economy by creating additional jobs. He mentioned that the gold production would result in significant spending on salaries and wages in the region. Technical studies planned for the year would aim to quantify the employment numbers, local services engagement, and the overall value of wages and salaries. Additionally, taxes and royalties are expected to benefit the local and national economy.
The company aims to submit the resource consent application to the Central Otago District Council and the Otago Regional Council by the end of 2024. This process will involve environmental testing, feasibility assessments, and community consultations with groups such as tangata whenua.
The investor package noted the government’s “pro-mining” stance, highlighting the repeal of the Natural and Built Environment Act in December, providing clarity for Santana Minerals to proceed through established Resource Management Act processes. Mining agreements have also been established with landowners at Bendigo Station, Ardgour Station, and Matakanui Station.
Santana Minerals acquired Matakanui Gold in 2020, which held exploration permits at Bendigo-Ophir, and continued drilling and infill drilling in 2021. The discovery of alluvial gold particles at Bendigo dates back to the Central Otago gold rush in 1862.
SOURCE: RNZ