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| Sanatana Resources |
Acquisition of Gold Strike Two bolsters Sanatana’s Yukon portfolio amid private placements and name change
Sanatana Resources has signed a definitive agreement to acquire the Gold Strike Two Project from LIRECA Resources, a private company within the Florin Group. This move significantly strengthens Sanatana’s foothold in the Mayo Mining District of Yukon, Canada, a region within the mineral-rich Tintina Gold Province.
Strategic Asset in the Rogue Plutonic Complex
The Gold Strike Two Project consists of 293 contiguous quartz claims spanning approximately 59 square kilometers. Located in the Mayo Plutonic Suite, the property covers much of the Rogue Pluton, a region gaining attention for its geological potential. In 2024, exploratory work identified anomalous concentrations of gold, arsenic, bismuth, and tungsten, suggesting promising mineralization.
Under the deal terms, Sanatana will pay C$500,000, split between a closing payment and escrow, and issue six million common shares to LIRECA. The project carries a 3% net smelter returns royalty (NSR), which can be reduced to 1% under certain conditions.
Strengthening Yukon Presence Through Financing and Branding
To finance the acquisition, Sanatana announced two non-brokered private placements worth up to C$1.2 million, offering 12 million units at C$0.10 each. The closing of both the acquisition and financing depends on TSX Venture Exchange approval and a pending corporate name change that aligns with Sanatana’s expanding Yukon and British Columbia assets.
CEO Peter Miles emphasized the strategic value of the acquisition:
“Gold Strike Two is a key acquisition and positions Sanatana among the few publicly traded companies with a prospective land position in the Rogue Plutonic Complex, an area receiving major attention following Snowline Gold Corp’s Valley discovery.”
He added that this agreement with the Florin Group, which owns several key properties in Yukon, sets the stage for potential future acquisitions.
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