1 October 2013 ASX ANNOUNCEMENT Sentosa Exercises Option to Acquire Darvii Naruu Porphyry Gold Copper and Polymetallic Project in Western Mongolia
Sentosa Mining Limited (ASX:SEO) is pleased to advise that the Company has exercised its Option Agreement to acquire a 100% interest in the Darvii Naruu Copper Gold Project in Gobi-Altai Province, western Mongolia.
To complete the purchase, Sentosa will issue 5,500,000 fully paid ordinary shares and an 0.5% Net Smelter Return Royalty as consideration for 100% ownership of Australian Company St Nicolas Mines Pty Ltd which owns 100% of Niquaero LLC, a Mongolian registered company which in turn owns the seven mineral permits which comprise the 62,735.8 Hectare project.
The purchase is subject to approval by Sentosa shareholders and also subject to the grant on satisfactory terms to the Company of any approvals required under Mongolian foreign investment or mining laws in order to acquire the issued shares in St Nicholas Mines.
The Darvii Naruu project is located within the South Gobi Arc which hosts Rio Tinto's world class Oyu Tolgoi porphyry copper gold deposits.
Sentosa signed a letter of intent to acquire the Project on April 24th 2013 and has since commissioned 1620 line kilometres of aeromagnetic-radiometric data and two independent technical reviews of the project.
Together with historic regional geological mapping and the identification of ore grade mineralisation (maximum 5.8%Cu and 34.4.g/t Au) from local surface sampling, this analysis by well-credentialed and independent Australian geoscientists has greatly strengthened Sentosa's confidence in the large, greenfield project.
All work by the Company since entering the Option Agreement in April has confirmed significant potential for large scale copper-gold, gold or nickel-copper-PGE mineralised systems within the project. As previously announced, a total of 37 exploration targets have been identified including several high priority "drill ready" magnetic and potasic targets. Level 4, 66 Kings Park Road, West Perth WA 6005 | PO Box 52, West Perth WA 6872
T (08) 6141 3500 | F (08) 6141 3599 | www.sentosamining.com
For further information concerning Sentosa's exploration plans for the future please contact Nigel
Gellard, Executive Chairman.
Phone +61 (0)8 6141 3500
Fax +61 (0)8 6141 3599 www.sentosamining.com.au
Nigel Gellard EXECUTIVE CHAIRMAN
Competent Persons Statement
The information in this release relates to exploration data compiled by Mr Darryl Mapleson, who is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Mapleson is a Principal Geologist and a full time employee of BM Geological Services Pty Ltd. Mr Mapleson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for reporting of Exploration results, Mineral Resources and Ore Reserves". Level 4, 66 Kings Park Road, West Perth WA 6005 | PO Box 52, West Perth WA 6872
T (08) 6141 3500 | F (08) 6141 3599 | www.sentosamining.com Any source
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