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Santo Mining Corp. (SANP)

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New 8K
Sept.15.2014

Item 1.01 Entry into a Material Definitive Agreement.

On September 15, 2014, Santo Mining Corp, (the “Company”) signed a new mining contract (the “Mexico Agreement”) in Mexico with Compania Minera Angeles Del Desierto SA de CV. The contract provides the Company with exclusive rights to extract, process, ship and refine an unlimited amount of mineral ore from three concessions totaling 7.468 square Kilometers. Term is 15 years with provision for a 10 year extension. 

During the last two years the Company has conducted surface exploration focused on a mineralized hill. Samples collected at the crown and around the base of the hill were pretreated and sent to Inspectorate labs in Tucson.  The average grades of all the samples were Gold 3.17 g/t and Silver 57.3 g/t.  Other laboratory testing has repeatedly verified these results.

In 2011 samples were analyzed for Platinum at the University of Nueva Leon, Monterrey. Early results from this non-commercial lab using a hydrofluoric acid digestion were positive.  Following the recommendation by a senior geologist, the Company decided to suspend platinum group metal metals exploration and focus on the gold and silver components.  According to the seasoned geologist, it was unusual to find Platinum and gold mineralization sharing the same geological setting.  Considering this and to preserve our credibility we decided to focus on Gold and Silver and postpone platinum testing.

However, in 2014 the Company resumed platinum testing following a positive result by a certified assayer in Arizona. The assayer used a propriety procedure using nickel instead of lead in the fire assay process.  The first sample batch assayed for Platinum at 0.379 ounces per ton. This was verified using a fresh sample batch with an impressive 0.449 ounces per ton result.  At current Platinum prices this represents an in the ground value of $511 to $606 per ton of the mineral ore, from which must be deducted extraction, transport, refining, costs etc.  

All surface rights, entitlements, extractive permits and environmental license are in force except for a forestry permit which costs approximately $100,000 and is typically issued in 60-90 days.  The concession has good truck access, is very remote with no social or community issues, good experienced labor pool and open-pit operation with no overburden.

Operationally the Company is responsible for the cost of permitting, extraction, trucking and loading the ore on board railcars at nearby Monclova.  From there it will shipped to various toll refineries / smelters for processing.  The cost of shipping beyond Monclova will be advanced by the Company and later reimbursed from proceeds. Net profits from operations will be split 50/50 with the concessionaire. Meanwhile, consultants will evaluate the cost effectiveness of concentrating the mineral ore either at the mine or in Monclova. 

As a result of these positive “bonus” Platinum assays, the Company is planning to move its entire operations from the Dominican Republic to Mexico and focus 100% on financing and this near-term production opportunity. Reference is made to the disclosure set forth under Items 2.01 of this this Current Report on Form 8-K (this “Report”), which disclosure is incorporated herein by reference.

 Item 2.01 Completion of Acquisition or Disposition of Assets.

On July 16, 2014, the Company closed on an agreement (the “Purchase and Sale Agreement”) with Precipitate Gold Corp.  (“Precipitate”) and Gexplo S.R.L. (“Gexplo,” and, together with the Company, the “Vendor”), dated June 30, 2014, whereby Precipitate acquired a 100% interest in two concession applications in the Dominican Republic known as “Richard” and “David,” which cover an area of 220 and 1,400 hectares respectively. The David concession is located on the north central border of Precipitate’s Juan de Herrera concession within the Tireo Gold Camp and greatly increases Precipitate’s prospective Tireo landholdings. In exchange, Precipitate granted the Vendor (1)  a 2% net smelter royalty (“NSR”) on each of the concessions. The NSR can be purchased by Precipitate for the price of US$500,000 per 0.5% for a total purchase price of US$2,000,000; and (2) 100,000 share purchase warrants (“Warrants”) allowing the Vendor to purchase up to 100,000 shares of Precipitate’s common stock at an exercise price of $0.30 per share for up to 3 months from the date of grant. Should the Vendor exercise any of the Warrants and thereafter seek to sell some or all of the shares, it must notify Precipitate and allow Precipitate at least 10 calendar days to arrange buyers of the shares. Any warrant shares purchased by the Vendor will be subject to a four month hold period.

The foregoing descriptions of the Purchase and Sale Agreement is qualified in its entirety by reference to the provisions of the Purchase and Sale Agreement filed as exhibit 10.1 to this Report, respectively, which are incorporated herein by reference.

 

Matching PR From TSXV:PRG>>>




http://www.precipitategold.com/s/news.asp?ReportID=662549

Precipitate Increases Tireo Landholdings and Acquires Strategic Ground Near Pueblo Viejo in the Dominican Republic

The two concession applications, named "Richard" and "David", cover an area of 220 and 1,400 hectares respectively. The David concession is located on the north central border of Precipitate's Juan de Herrera concession within the Tireo Gold Camp and greatly increases Precipitate's prospective Tireo landholdings. The Richard concession is located about four kilometres southeast of Barrick and Goldcorp's Pueblo Viejo Gold Mine site. See attached figures for respective concession locations or visit the Company's website at www.precipitategold.com
Jeffrey Wilson, Company President & CEO stated, "We are pleased to acquire these two concession applications. Both the David and Richard concessions have compelling technical and strategic importance. The David concession provides the Company with a significant increase of the preferred and prospective Tireo formation target rocks, while the Richard concession gives Precipitate a strategic new land position in a world-class modern gold mining camp. With the Vendor shifting its focus to other property interests in Mexico and Africa, we are pleased with the non-cash acquisition terms for these concessions and thank the Vendor for its cooperation in this process." 
Richard Concession
The Richard concession is located 4 kilometres to the southeast of Barrick Gold Corp. and Goldcorp's Pueblo Viejo Gold-Silver mining camp. The Pueblo Viejo high sulphidation epithermal gold and silver deposit hosts an estimated 22.0 million ounces of gold and 117.0 million ounces of silver and is expected to produce up to 1.0 million ounces gold this year. The Company's newly acquired Richard concession is underlain by the same Cretaceous age Los Ranchos formation rocks that host the Pueblo Viejo deposit.
David Concession 
The David concession is situated in the emerging Tireo Gold-Silver-Copper exploration camp adjacent to the Company's existing Juan de Herrera concession where Precipitate has been exploring in recent months. David is dominantly underlain by regionally favourable Cretaceous age Tireo formation rocks which are part of the same regional stratigraphy that hosts GoldQuest Mining's Romero discoveries and Precipitate's Ginger Ridge and Melchor zones. The addition of the David concession application gives the Company contiguous exposure to the Tireo along the southern boundary of the neighbouring Goldquest concessions including areas in close proximity to Precipitate's Melchor and Goldquest's Jengibre discoveries.
The Vendor conducted preliminary stage exploration work on both concessions, including rock, silt and soil sampling. Precipitate is reviewing this newly acquired technical data which will provide guidance to the next exploration phase on these new concessions. The Company's total Dominican land package now covers about 14,829 hectares, in both application and fully granted stages.

Agreement Terms:
Precipitate can acquired a 100% interest in the Richard and David concession applications, and will assume all application obligations, in a non-cash transaction whereby Precipitate will grant the Vendor:
a 2% net smelter royalty ("NSR") on each of the concessions. The NSR can be purchased by Precipitate for the price of US$500,000 per 0.5% for a total purchase price of US$2,000,000; and About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic and Sonora State, Mexico. The Company also maintains assets in northern British Columbia and southeast Yukon Territory and is actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value.
Additional information can be viewed at the Company's website 
www.precipitategold.com

 Percipitate Gold Corp.
http://www.precipitategold.com/s/investors.asp

Contact
650 West Georgia Street
Suite 1410
PO Box 11584
Vancouver, BC
Canada V6B 4N8
Tel: 604-558-0335
Toll Free: 1-855-558-0335

investor@precipitategold.com
General Inquiries
info@precipitategold.com

Stock Info Santo Mining
Contact Info
Corporate Office Address:
Ave. Sarasota #20
Torre Empresarial, Suite 1103
Santo Domingo, Dominican Republic

Company Contact: Mr. Alain French
Email: info@santomining.com


NEW TSXV:PRG DEAL WORTH 0056
 
Current O/S as of 8.30.2014 =  ~700M 
~700M x 0001 = $70,000 Market Cap!!!

 
$2,000,000/ 700Mo/s = 0028 x 2 Properties = 0056 Value of NSR deal w/ TSXV:PRG
 
 
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SANP
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PostSubject
#8874  Sticky Note DEAL with TSXV:PRG WORTH 0066~READ... SILVERISTHENEWGOLD 01/20/15 01:49:43 PM
#8315  Sticky Note Looking at this in more detail SANP is HokieHead 09/19/14 06:46:57 PM
#8922   I suspect the issue now is getting the 4eldinero 03/25/15 08:47:48 AM
#8921   I think I was trying to buy too sportsfan 03/25/15 12:02:06 AM
#8920   I think that if they had tried to 4eldinero 03/23/15 01:35:51 PM
#8919   I understand and I took my second option 4eldinero 03/23/15 01:31:02 PM
#8918   well its all speculation at this point but Grand2000 03/23/15 01:27:41 PM
#8917   I don't know but if I were to 4eldinero 03/23/15 01:26:07 PM
#8916   thanks for the reply 4eldinero, make no mistake dumpsterdiving4gold 03/23/15 10:13:19 AM
#8915   I already own shares. I'm just trying Grand2000 03/23/15 09:59:55 AM
#8914   I have noticed some very small quantities at 4eldinero 03/23/15 09:46:20 AM
#8913   can anyone here claim being able to buy Grand2000 03/23/15 08:57:46 AM
#8912   Do you think that the potential sellers are 4eldinero 03/23/15 08:48:38 AM
#8911   Holding on for dear life. lol Made some sportsfan 03/21/15 07:18:24 PM
#8910   I don't believe there will be any solid 4eldinero 03/20/15 08:11:52 AM
#8909   I'm probably drawing at straws here, but does dumpsterdiving4gold 03/18/15 09:45:06 AM
#8908   Same feeling. Been in this one quite a sportsfan 03/17/15 04:30:57 PM
#8907   All i know is the news of the cash4 03/15/15 12:23:54 AM
#8906   Do you know of any news? Richard Perry 03/06/15 04:41:11 PM
#8905   Big volume post news, maybe big news. cash4 03/06/15 10:52:35 AM
#8904   Big vol today Richard Perry 03/06/15 09:56:01 AM
#8903   The ones posting still, and the ones buying still. cash4 03/04/15 09:39:51 AM
#8902   How many out there are speculating that this Grand2000 03/04/15 08:40:51 AM
#8901   Yes Richard Perry 03/03/15 09:00:12 PM
#8900   Are these news in relation to Santo Mining cash4 03/03/15 09:42:14 AM
#8896   Yep I been here since 1.35 two yrs Richard Perry 02/20/15 10:41:42 AM
#8895   It takes more than one small move. What 4eldinero 02/20/15 10:32:33 AM
#8894   Someone just just loaded it up! Hope this Richard Perry 02/20/15 09:51:06 AM
#8893   I'm very tempted to load more. does Grand2000 02/20/15 08:36:58 AM
#8892   So no R/S after multiple months of lies Bitcoins 02/20/15 08:26:45 AM
#8890   good volume today Richard Perry 02/11/15 02:18:18 PM
#8889   But w out volume you could never sell it!!! Dabeav 02/10/15 01:50:12 PM
#8888   SANP 0.0001 ***** trader53 02/08/15 04:30:54 AM
#8886   No one selling today IC GO SANP Richard Perry 02/05/15 12:34:53 PM
#8882   Good volume today. Is buying or selling or Richard Perry 01/22/15 02:18:47 PM
#8880   Hoping for some too GO SANP Richard Perry 01/21/15 11:46:07 AM
#8879   Very true, I'm just hoping more people sell Bitcoins 01/21/15 11:25:58 AM
#8878   Compared to some, yes, I may have gotten sdhuebner 01/21/15 07:28:08 AM
#8877   Some people are holding since 003's and 002's, cash4 01/21/15 01:23:13 AM
#8876   Well...tell them not to do that. sdhuebner 01/20/15 08:12:13 PM
#8875   It's time to be realistic bro, at that Bitcoins 01/20/15 01:55:02 PM
#8874   DEAL with TSXV:PRG WORTH 0066~READ... SILVERISTHENEWGOLD 01/20/15 01:49:43 PM
#8873   ~SANP~ GOLD HEATING UP~ ONLY 39M @ 0002 SILVERISTHENEWGOLD 01/20/15 01:48:56 PM
#8872   You have too many Zeroes in that for sdhuebner 01/19/15 04:34:28 PM
#8871   We will run to 0005 Soon enough my friend! Bitcoins 01/19/15 04:29:57 PM
#8870   I see there is a posting I can't sdhuebner 01/19/15 03:45:29 PM
#8868   SANP 0.0001 trader53 01/18/15 10:25:40 PM
#8866   I realize that gold is a key in sdhuebner 01/15/15 01:18:00 PM
#8865   It's the latest increases in the Price of Lurch16 01/15/15 12:30:24 PM
#8864   Has anyone heard anything? I don't see sdhuebner 01/15/15 11:26:30 AM
#8863   Wow, big vol today and it's early yet GO SANP Richard Perry 01/15/15 10:31:43 AM
#8862   ~SANP~ 0002 UP ON GOLD BOOM! :) SILVERISTHENEWGOLD 01/15/15 10:29:39 AM
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