In our 30+ years covering junior exploration stocks we can confidently say companies like Sentinel Resources Corp (TSXV: SNL, OTC: SNLRF) at this stage in the investment cycle are few and far between.
Hot Stocks Review commenced coverage of this intriguing deal about 4 weeks ago when the stock was trading at 0.35. It closed at 0.67 on Oct 1st for a gain of 90% to date.
In that short time frame, CEO Rob Gamley was able to acquire the historic high grade Waterloo project in Southern B.C. and attract a high profile technical team with decades of global project selection, acquisition and development experience.
In our estimation, given the clip they are growing at and with less than 24 million shares outstanding, Sentinel has a long way to go before plateauing.
It didn’t take long for the company to close it’s second acquisition, and this one looks to have exceptional short-term upside potential.
Today Sentinel announced the acquisition of the Salama Gold Project in one of Peru’s most productive and prolific geological trends.
Peru is the 6th largest gold producer in the world and 4th in gold reserves.
Sentinel’s Salama project is situated in the heart elephant country, along the same geological trend that hosts monster deposits such as the 50 million ounce Yanacocho and the 15+ million ounce Laguna Norte deposits. Over 20 million ounces of gold are hosted within 45km of Salama.
Read our coverage on Sentinel’s industry recognized technical team additions.
Full details in the press release below.
SENTINEL ACQUIRES SALAMA GOLD PROJECT IN PERU
Vancouver, British Columbia, October 2nd, 2020 – Sentinel Resources Corp. (CSE: SNL)(US OTC PINK: SNLRF) (“Sentinel” or the “Company”) is pleased to announce that it has acquired the Salama Gold Project, consisting of four gold focused mining concessions totaling approximately 2,700 hectares, located in western Peru.
Highlights of Acquisition:
- Potential for high and low sulfidation epithermal gold mineralization and breccia pipe stock-work style gold-silver deposits.
- Situated within the prolific gold-polymetallic Miocene skarn and porphyry belt — one of several coast-parallel metallogenic belts that host the larger and more significant deposits of Peru (Figure 1). This includes Lagunas Norte Gold Mine, Rasario De Belen Gold Mine, La Arena Gold Mine and La Virgen Mine, that together host over 20 Moz gold within a 45 km radios of the Salama Concessions.
- Highly experienced national and expatriate exploration team capable of carrying out exploration work on Salama Gold Project immediately.
- First reconnaissance visit planned for the week of 12th October 2020. First pass mapping and sampling will concentrate on areas of alteration hosting quartz veins and silicified breccias. Previous work by artisanal and small-scale miners provides additional vectors to areas of higher-grade mineralization.
Rob Gamley, President & CEO of Sentinel, states, “The acquisition of four prospective gold concessions in this historical gold-silver producing region in Peru shows the ability of our exploration team to identify and acquire key gold assets notwithstanding current administrative challenges in Peru. With the skill and local knowledge of our in country team, we are well placed to quickly build a robust portfolio of gold focused assets in this region of Peru.”
About Salma Gold Project
The Salama Gold Project consists of four gold focused exploration concessions totaling 2,700 hectares in the Anta province of Peru. Preliminary review indicates extensive areas of quartz veins with localized silicified breccias, that have been the focus of historic production by artisanal and small-scale miners. These miners targeted high grade areas where oxidation of bedrock resulted in formation of free gold amenable to gravity recovery.
Preliminary review of regional satellite imagery indicates that two major structures intersect in the northeast of the concession, in a similar geological setting to La Virgin gold mine 20 km to the north. Historic production at La Virgin was reported as 120 Koz Au/annum.
Sentinel’s field team will initially comprise three in-country geologists, allowing for rapid first pass reconnaissance and rock-chip grab sampling. The field team has robust project review and target generation experience, especially with respect to Peruvian low and high sulphidation epithermal deposits, such as Lagunas Norte, La Arena and Rosario De Belen. This will allow mineralization at Salama to be placed within the wider context of an epithermal deposits geological, structural and hydrothermal evolution, and thus allow key controls on mineralization and high value targets to be rapidly established. Sentinel will submit samples to ALS Lima for preparation and analysis.
Terms of Transaction
Sentinel entered into an assignment agreement (the “Assignment Agreement”) with a third party (the “Assignor”) whereby it assumed all of the right, title and interest in and to a purchase agreement (the “Purchase Agreement”) with the holders of the Salama Gold Project.
Under the terms of the various agreements, Sentinel acquired a 100% interest in the Salama Gold Project, royalty free, and, in consideration of which, Sentinel paid US $35,000 and issued a total of 2,100,000 common shares. The shares issued are subject to restrictions on resale for a period of four months from the date of issued.
About Sentinel Resources
Sentinel Resources is a Canadian-based exploration company focused on the acquisition and exploration of gold and silver projects with world-class potential. Its current portfolio includes the Waterloo, Pass, and Little Bear projects in British Columbia and Salama project in Peru. The Company’s guiding principles are based on acquiring strategic exploration properties in mining-friendly jurisdictions with historical mining industries, low-cost of entry or acquisition, and easy access to infrastructure to minimize capital and operational costs in explorational periods. For more information, please go to the Company’s website at www.sentinelexp.com.
Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, a Qualified Person, has reviewed and approved the scientific and technical information contained in this news release.
Sentinel Resources Corp.
President and Chief Executive Officer
Rob Gamley, President & CEO
Company Website: www.sentinelexp.com
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sentinel cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Sentinel’s limited operating history, its proposed exploration and development activities on is mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Sentinel does not undertake to publicly update or revise forward-looking information.
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