SENATOR MINERALS INC NEWS RELEASE 25 August 2006 TSX-V: SNR USA: SMLCF Frankfurt: T1K # 2006-14 “Hill End gold project: contract extension” Senator Minerals Inc (“Senator” or “the Company”) reports that, in order to take advantage of an anticipated improvement in market conditions, its agreement with Hill End Gold Limited has been adjusted so that the first tranche of exploration funding is now due on 30 September 2006. Proposed exploration and development work on the Hill End gold project in New South Wales, Australia, includes a 2000 meter diamond drilling program to test extensions of the Reward resource area and new areas to the north of Reward below outcropping gold mineralization. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Senator Minerals Inc is a TSX-V-listed junior exploration company with a diverse portfolio of property interests in North America and Australia. In addition to its earn-in option for a 50% interest in the Hill End gold project in New South Wales, Australia, Senator has 100% lease option interests in five highly prospective Midas-style targets in the Northern Nevada Rifts area, a 100% interest in two prospects in Nevada’s Cortez Hills area, and a 100% interest in the Taurus copper-moly deposit in southeastern Alaska. Senator also holds 1% NSR’s on the Rosebud gold-silver prospect in northwestern Arizona and both the Okey and Key high grade copper prospects in northeastern British Columbia.
Senator Minerals Inc ("Senator" or "the Company") reports that, in its role as operator, it has entered into a contract to conduct a diamond drill program on Ivanhoe Creek, a Midas-style target located just north of GBG/Hecla's Ivanhoe Hollister development in northeastern Nevada. This $600,000 program has been funded by Kent Exploration Inc, which has earned 50% of Senator's interest in the project.
Subject to weather and access, the drill program is scheduled to begin in early April.
Senator Minerals Inc is a TSX-V-listed junior exploration company with a diverse portfolio of property interests in North America.
Senator has one 50% and four 100% lease option interests in five highly prospective Midas-style targets in the Northern Nevada Rifts area, a 100% interest in two prospects in Nevadas Cortez Hills area, and a 100% interest in the Taurus copper-moly deposit in southeastern Alaska.
Senator holds 1% NSR's on the Rosebud gold-silver prospect in northwestern Arizona and both the Okey and Key high grade copper prospects in northeastern British Columbia.
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Senator Minerals is a Canadian exchange stock so that is where you need to go to find any information. SNR is doing very well in their explorations and less than 20 million shares outstanding. Five weeks ago SNR was trading at .17 and is currently at .27. I am in at .12 and have posted about this stock before.
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Senator Minerals Inc ("Senator" or "the Company") reports that it has entered into an agreement with Geomode Mineral Exploration Ltd ("Geomode"), an arm's-length vendor, to acquire a 100% interest, net of a 1% NSR, in a highly prospective 3,370 hectare uranium target, the Geike River Claim (the "Claim"), located in the Athabasca Basin, Saskatchewan. The Claim, designated number S-110885, is considered to be a high priority target due to its proximity to existing large high-grade uranium mines and its potential to host similar mineralization. The Claim is located in the eastern portion of the Athabasca Basin, approximately 27km southeast of Cigar Lake and 35km east of MacArthur River Mine (Cameco/Cogema), the largest high-grade uranium mine in the world. The Claim adjoins claims held by Denison Mines Corp (DML: TSX and DNN: AMEX), formerly International Uranium Corp, and CanAm Uranium (CAUI: OTCBB). Until recently, the Claim was controlled by International Uranium Corp, which, through Denison, continues to have a significant presence in the area. The Claim forms part of the Thompson River Project, which is contiguous to the Moore Lake and South Cigar Projects, controlled by Denison and JNR Resources. To acquire a 100% interest, net of a 1% NSR, in the Geike River Claim, Senator is required to perform exploration and development work sufficient to keep the Claim in good standing, and to pay an aggregate of C$300,000 and issue 1,500,000 common shares to the vendor over a two year term as follows:
a) C$100,000 cash and 400,000 common shares upon receipt of regulatory approval;
b) C$100,000 cash and 500,000 common shares on the first anniversary of the agreement; and
c) C$100,000 cash and 600,000 common shares on the second anniversary of the agreement.
First and second anniversary payments are subject to Senator having received a NI 43-101-compliant report recommending further work. In addition, a one percent (1%) NSR has been reserved in favor of the vendor, which can be purchased by Senator for US$1,000,000. This transaction remains subject to regulatory approval. Tony Simon, president of Senator, comments, "The expansion of Senator's exploration property interests to include a uranium target surrounded by established uranium producers and explorers in the well-known Athabasca Basin is another significant step in Senator's goal of acquiring exploration interests in politically stable, highly prospective areas."
Senator Minerals Inc is a TSX-V-listed junior exploration company with a diverse portfolio of property interests in North America.
Senator has one 50% and four 100% lease option interests in five highly prospective Midas-style gold-silver targets in the Northern Nevada Rifts area, a 100% interest in two gold prospects in Nevadas Cortez Hills area, and a 100% interest in the Taurus copper-moly-gold deposit in southeastern Alaska.
Senator holds 1% NSR's on the Rosebud gold-silver prospect in northwestern Arizona and on both the Okey and Key high grade copper prospects in northeastern British Columbia.
SENATOR MINERALS INC ("SNR-V") - Zones of Anomalous Gold-Silver Mineralization at Ivanhoe Creek, NV"
Senator Minerals Inc ("Senator" or "the Company") reports on preliminary results from the first five holes of its drill program on the Ivanhoe Creek property, northeastern Nevada. This program was conducted in partnership with Kent Exploration, which is earning an interest in the property. The five locations for drilling were selected based on the results of a 2004 geophysical program that consisted of ground magnetometer, gravity, and CSAMT surveys. The drill targets are zones of faulting and silicification that are possibly indicative of Midas-style gold-silver feeder systems. Several highly mineralized zones were intersected in these drill holes with the widest mineralized zone of 173 feet (52 meters) being intersected in hole IC07-10. Drillhole IC07-02 tested a north-trending west-dipping structure in ash-fall crystal tuffs in the western part of the project area and intersected 33 feet (10 meters) of mineralization before being abandoned at 230 feet (70.1 meters) because of excessive clay build up on the drilling rods. Significant sample results from IC07-02 are detailed in a table in the #2007-7 news release filed on Sedar and on the Company web site. Sample 79039 is indicative of Midas-type mineralization, with highly anomalous gold, silver, selenium and arsenic values. Samples also show elevated to anomalous sulfur and antimony values ranging from 0.2-2.4 ppm sulfur and 2.34-23.5 ppm antimony. Other significant assay results occur in broken and gouged rocks from 195-207 feet (59.4-63.1 meters). IC07-07 was sited 650 meters southeast of IC07-02, and was drilled to a depth of 736 feet (224.33 meters). IC07-07 targeted a north-trending east-dipping structure parallel to the structure targeted by IC07-02 with mineralized intersections of 7 feet (2 meters) from 408 feet to 415 feet and 51 feet (15 meters) from 425 feet to 476 feet. The rocks encountered were lithic and ash tuffs lying atop Paleozoic quartzites and mudstone-shale containing interbeds of quartzite. Significant sample results from IC07-07 are detailed in a table in the #2007-7 news release filed on Sedar and on the Company web site. All of the samples contained highly anomalous silver and generally show elevated mercury and selenium values. Sample 78959 returned the highest selenium value of the program to date. Anomalous selenium values suggest the presence of Midas-style selenium-rich mineralization. Significant assay results occur in quartzite in well broken and gouged core retrieved from 415-455 feet (126.49-138.68 meters) and from 465-475 feet (141.73-144.78 meters), suggesting a major fault zone at least 60 feet (18 meters) wide. As well, an area of weak quartz-healed brecciation occurs from 454.7-465 feet (138.59-141.73 meters). IC07-10 is located approximately 150 meters (490 feet) west of IC07-12, and was targeted to undercut outcropping highly silicified tuffs. IC07-10 had a target depth of 600 feet (209 meters), and intersected a total of 173 feet (52 meters) of mineralization between 266 feet and 446 feet, but was terminated at 446 feet (135.94 meters) due to poor core recovery. Lithology consists of lithic and crystal tuffs overlying Paleozoic quartzite. Significant sample results from IC07-10 are detailed in a table in the #2007-7 news release filed on Sedar and on the Company web site. Samples 79079, 79083, 79084, 79085, and 79087 returned anomalous silver and tungsten values, with sample 79087 returning the highest silver value to date, 262 g/t (7.64 ounces per ton (opt)), and the second highest tungsten value 1130 g/t (0.113%). Significant samples were taken from well broken quartzite showing local brecciation. From 286-446 feet (87.17-135.94 meters), core is extremely well broken and core recovery was approximately 15%. Within the 74-foot (22.56-meter) interval of core from 356-430 feet (108.51-131.06 meters), approximately 30 feet (9.1 meters) consists of mud, sand, and clay containing fragments of quartzite. IC07-12 is located east of IC07-02, and was the most easterly drill site. IC07-12 targeted a north-trending east-dipping structure immediately east of surface exposure of silicified volcanic tuff, and was drilled to a depth of 666 feet (203 meters) and intersected 75 feet (22 meters) of mineralization. Lithology consists of lithic tuffs overlying Paleozoic quartzite, which overlies mudstone-shale containing interbeds of quartzite. Significant sample results from IC07-12 are detailed in a table in the #2007-7 news release filed on Sedar and on the Company web site. Sample 79058 returned the second highest silver value of 107 g/t (3.12 ounces per ton (opt)), and also a strongly anomalous tungsten value of 1,500 ppm (0.15%). Samples also show elevated selenium values. Sample 79059 is anomalous in sulfur. IC07-12 drilling was stopped in mudstone-shale showing anomalous silver values. Samples 79058 and 79062 were taken from core showing earthy brown clay containing fragments of quartzite and mudstone-shale. This clay material was initially interpreted to be sloughed material from higher up in the hole but, when associated with the highest silver value returned, may indicate areas of faulting. There is no recorded reason for the high tungsten result returned in sample 79058. IC07-13 was sited east-southeast of IC07-02, and was drilled to a depth of 516 feet (157.89 meters). IC07-13 targeted the same north-trending east-dipping structure as IC07-07, but was located approximately 300 meters north of IC07-07 and intersected a 52 foot (15 meter) mineralized zone. The lithology consisted of lithic tuff overlying Paleozoic quartzites. Significant sample results from IC07-13 are detailed in a table in the #2007-7 news release filed on Sedar and on the Company web site. Sample 79049 returned the third highest silver value obtained to date, 29.5 ppm Ag. The above samples contained anomalous gold, antimony, and selenium values. The core is strongly gouged between 416-423 feet (126.8-128.93 meters). From 423-437 feet (128.93-129.84 meters), the core shows quartz-healed breccias containing up to 5% pyrite. Samples 79048, 79049, and 79050 were taken from beneath the breccia zone. Sample 79049 was taken from core consisting of mud and clay containing fragments of quartzite.
In general, significant assay results occurred in areas showing faulting and/or structural activity indicated by brecciation. The quartz-healed nature of the brecciated zones indicates that silica-rich solutions were present at some time or over a period of time. The association of gold, silver, arsenic, sulfur, selenium, and antimony may indicate zones peripheral to Midas-style mineralization. Due to poor core recovery from the mineralized zones, the first phase of the drill program has been terminated to source a larger drill to better deal with the brecciation and local clayey alteration, which create difficult drilling conditions. Senator holds a 50% interest, net of a 3% NSR, in the Ivanhoe Creek property, with the other 50% being held by Kent Exploration Inc (KEX). The content of this news release has been reviewed and approved by Richard R. Redfern, a director of Senator, and a Qualified Person as defined by NI 43-101.
Senator Minerals Inc is a TSX-V-listed junior exploration company with a diverse portfolio of property interests in North America. Senator has one 50% and four 100% lease option interests in five highly prospective Midas-style targets in the Northern Nevada Rifts area, a 100% interest in two prospects in Nevadas Cortez Hills area, and a 100% interest in the Taurus copper-moly-gold deposit in southeastern Alaska. Senator holds 1% NSRs on the Rosebud gold-silver prospect in northwestern Arizona and on both the Okey and Key high grade copper prospects in northeastern British Columbia.
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