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SAS Exploration Update - Successful Drill Program Expands Mineralization at Holt and Holloway

05.08.2015  |  CNW
TORONTO, Aug. 5, 2015 /CNW/ - St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to provide an exploration update which includes assay results from its Phase 2 deep surface drill program, targeting Zone 4 ("Zone 4"), Zone 6 ("Zone 6"), and Tousignant West ("Tousignant") programs at its 100% owned Holt Mine ("Holt"), and the Smoke Deep and Blacktop Zones at its 100% owned Holloway Mine ("Holloway").


Highlights of Drilling Results

Phase 2 Zone 4 Deep West Extension (Surface drilling):
  • ZN4-15-004               4.08 g/t Au over 9.9 metres – 265m west of current resources
  • ZN4-15-004-W1        3.78 g/t Au over 10.2 metres including 4.33 g/t Au over 6.8m

Zone 6 (Underground drilling 710 sub-level):

  • 710-103                    8.71 g/t Au (8.55 g/t cut) over 13.2 metres including 20.09 g/t Au over 3.1 metres.
  • 710-113                    6.74 g/t Au (6.61 cut) over 23.6 metres
  • 710-124                    9.62 g/t Au (9.40 cut) over 14.7 metres

Holloway Smoke Deep (Underground drilling 945 sub- level):

  • 945-077                    9.51 g/t Au (8.91 cut) over 12.3 metres
  • 945-080                    10.49 g/t Au over 7.7 metres

Holloway Blacktop Extension (Surface drilling):       

  • GH15-002                 3.27 g/t Au over 11.9 metres including 3.62 g/t Au over 9.8 metres.


Notes: All drillhole core intercepts are reported as core length as true widths are not known at this time. Zone 4, West Tousignant and Blacktop assays are cut to 32.00 g/t Au.  Underground drilling assays from Zone 6 and Smoke Deep are cut to 25.00 g/t Au.

"We are very pleased with the successful results of the exploration programs at our core assets, Holt and Holloway" commented Duncan Middlemiss, President and CEO of SAS.  "Holt's Zone 4 Deep West Extension continues to grow in size with potential for further upside, both at depth and along strike.  We continue to test the extension of this mineralization and look forward to updating the market on our progress." "We are equally excited about the successful exploration programs at Holloway.  The drill results demonstrate that mineralization continues down plunge at both Smoke Deep and Blacktop Zones.  These results are very significant to the extension of mine life at Holloway, with current reserves, resources, and mineralization supporting mining operations until the end of 2017, and potential for further upside." added Duncan Middlemiss.

Holt - Phase 2 Zone 4 Deep West Extension Drill program

Recent 2015 surface exploration drilling programs on the Holt property continue to follow-up on the Zone 4 Deep West Extension, targeting multiple shallow dipping, en-echelon mineralized zones and ultimately targeting mineralization associated with the westerly strike projection of Zone 4 (the most significant production horizon being mined at Holt).  Previous assay results from Phase 2 drilling were reported on May 7, 2015. (See press releases, available under the Company's profile on www.sedar.com or on the Company's website at www.sasgoldmines.com.)

Phase 1 drilling had confirmed the presence of a total of 3 mineralized zones being defined (Zone 4 Lower / NBS and Vertical zones) and resulted in a 2014 year-end inferred mineral resource addition of 5.5 million tonnes grading 4.82 g/t Au containing 0.86 million ounces of gold (excludes V-93 and DL zones). These zones remain open with additional mineral potential available along strike to the east, west and extending up-dip towards the McKenna Fault. Figure 1 is a longitudinal view identifying both the infrastructure and mineralized zones at the Holt mine (Zone 4 in green and Zone 6 in purple).

Recent assay results from Phase 2 drilling continue to target both the strike and up-dip extension of Zone 4 and associated mineralized zones. Assay results from hole ZN415-004 and ZN415-004 W-1 (wedge) which assayed 4.08 g/t Au over 9.9 metres and 3.78 g/t Au over 10.2 metres respectively are noteworthy and demonstrate that Zone 4 mineralization extends an additional 265m west. (Refer to Figure 2 above).

Visually, the mineralized zones (which are readily recognizable in core) consist of a quartz breccia zone containing approximately 3-5% disseminated pyrite hosted within a sericitic and hematite altered mafic volcanic host rock. Zone 4 mineralization consists of multiple, en-echelon shallow dipping zones (20° South) which are structurally controlled between the McKenna Fault to the north and the Ghostmount Fault to the south. The mineralized drill intercepts confirm that Zone 4 remains open within the corridor up-dip to the north, along strike and down the plunge. Figure 2 is a longitudinal view of the deep drilling showing the recent intercept position relative to the yearend mineral resource shape.


Table 1: Phase 2 Holt Zone 4 Deep West Extension surface drill program assay results


COLLARS - UTM NAD 83



Core


BHID

Easting

Northing

Elevation

Azimuth

Dip

From

To

Length(m)

Au
(g/t)

Au (g/t CUT) / Comment

Z415-004

591282

5371963

4982

345

-73

1432.0

1441.9

9.9

4.08

Zone 4 extension












Z415-004
Wedge 1




345

-73

1429.6

1439.8

10.2

3.78

Zone 4 Extension

including






1433.0

1439.8

6.8

4.33



Notes:  All lengths are reported as core length as true width is not available at this time. Assays are cut to 32.00 g/t Au.


Holt – Zone 6 Underground Drill program

Zone 6 is situated approximately 500 m south of the Holt shaft and is accessible from the 775m and 925m Levels at Holt. The infill drill program which was conducted from a footwall drill drift situated on the 710m Sub-level, consisted of 35 holes, totalling 4,200 metres. The objective of the drilling was to confirm both the up and down dip extensions of the mineralized zone and to verify historical drill intercepts. Typical Holt style mineralization was intersected by the holes where zones of moderate gold grades were reported. Significant program assay results were returned in holes 710 -103  which returned 8.55 g/t Au over 13.2 metres, including 20.09 g/t Au over 3.1 metres and in hole 710-124 which returned 9.40 g/t Au over 14.7 metres (refer to Figure 3 above). A complete list of all 710 level program assay results is found appended at the end of this press release.

The drill program was successful, and continues to extend Zone 6 mineralization above the 4500 elevation. SAS has mobilized a drill to the 925m level to define Zone 6 Lower mineralization above and below the level.

Tousignant West –Surface Drill program
The Tousignant deposit is situated approximately 3 kilometres west of the Holt shaft and is accessible by road from the Holt property. The Tousignant deposit consists of 3 shallow west plunging en-echelon mineralized zones and one vertical zone situated along the Ghostmount North Fault zone – a splay off of the Ghostmount Fault. The deposit has been well drill tested and contains a mineral reserve / resource. Recent surface drilling conducted by SAS continues to test for mineralization associated with the Ghostmount and Ghostmount North Faults, along strike to the west of the Tousignant deposit. Recently, SAS completed a total of 6 holes totalling 2,537 metres, targeting near-surface mineralized extensions west of Tousignant. Significant program assay results were returned in holes TZ15-005 which returned 8.50 g/t Au over 4.8 metres and in hole TZ15-004 which returned 3.10 g/t Au over 6.1 metres. A complete list of all Tousignant West / Ghostmount drill program assay results is found below in Table 2.


Table 2: Holt Tousignant West Assay results


COLLARS - UTM NAD 83



Core


BHID

Easting

Northing

Elevation

Azimuth

Dip

From

To

Length(m)

Au
(g/t)

Au (g/t CUT) / Comment

TZ15-001

589380

5371554

300

345

-75

203.4

206.3

2.9

1.81


Ghostmount Fault

TZ15-002

589380

5371554

300

345

-55

205.8

206.6

0.8

5.09

Ghostmount Fault

TZ15-003

589548

5371760

300

345

-75

391.2

392.1

0.9

2.75

Ghostmount Fault

TZ15-004

589548

5371760

300

345

-63

136.5

142.6

6.1

3.10

Ghostmount Fault

TZ15-005

589548

5371760

300

345

-52

116.7

121.5

4.8

8.50

Ghostmount Fault

And






294.0

295.5

1.5

11.68

Qtz Vein / breccia –
Tousignant?

TZ15-006

589402

5371459

300

345

-75

544.7

545.4

0.7

6.96

Ghostmount Fault.



Holloway Mine

Smoke Deep Underground Drilling


Underground drilling from the 945 sub-level, continues to evaluate both the easterly strike extension and down – plunge extension of Smoke Deep mineralization. Recent assay results from the 945 sub-level drill program are found summarized in table format below and plotted on the accompanying longitudinal section. (Refer to Figure 4).


Table 3: Holloway Smoke Deep Zone Assay results.

DDH

EASTING 

NORTHING 

ELEVATION  

AZ

DIP

FROM

TO

LENGTH(m)

Au g/t

CUT
25 g/t
Au

945-70

7437

4467

2368

5

2



NSV



945-71

7437

4467

2367

5

-10



NSV



945-72

7437

4467

2366

5

-35

103.6

106.4

2.8

9.48


945-73

7438

4467

2368

10

-4



NSV



945-74

7438

4467

2367

10

-19



NSV



945-75

7438

4467

2367

10

-35

97.6

102.4

4.8

5.53


And






123.0

128.4

5.4

5.63


Including






125.7

128.4

2.7

8.16


945-76

7438

4467

2365

14

-12



NSV



945-77

7438

4467

2364

14

-50

126.6

138.9

12.3

9.51

8.91

Including






126.6

135.5

8.9

10.21

9.39

And






136.8

138.9

2.1

12.16


945-78

7439

4467

2365

33

-16

100.1

101.2

1.1

8.28


945-79

7438

4467

2366

0

-60



NSV



945-80

7438

4467

2366

5

-50

128.6

136.3

7.7

10.49


Including






128.6

133.3

4.7

14.49


945-81

7439

4467

2365

33

-70



NSV



945-82

7438

4467

2366

10

-65



NSV



945-83

7440

4467

2369

33

-35

103.2

104.0

0.8

8.90


Including






111.0

113.0

2.0

6.39


945-84

7440

4469

2365

33

-50

91.6

94.4

2.8

7.30


And






98.0

102.9

4.9

6.68


And






149.6

151.3

1.7

4.91














NSV = No significant values


Blacktop Extension Surface Drilling program

Surface drilling commenced in Q2 with one drill rig completing 1,950 metres of drilling on 3 holes and associated wedges. The primary target area is the down dip extension of the Blacktop Zone, adjacent to, and along strike from Smoke Deep and Deep Thunder deposits. This program will continue into Q3. Assay results are illustrated in Figure 5 and are summarized in Table 4 below.


Table 4: Holloway Blacktop Assay results.


COLLARS - UTM NAD 83



Core


BHID

Easting

Northing

Elevation

Azimuth

Dip

From

To

Length(m)

Au
(g/t)

Au (g/t CUT) / Comment

GH15-001

595325

5374850

290

360

-73





No significant values

GH15-001W1

595325

5374850

290

360

-73

1006.4

1007.0

0.6

9.26

Blacktop Down dip












GH15-002

595050

5374775

290

360

-65

1035.0

1046.9

11.9

3.27

Blacktop Down dip

Including






1035.0

1044.8

9.8

3.62















Drilling, Assaying and QA/QC

Core drilling on all SAS programs was performed by Asinii Drilling based in Notre Dame du Nord QC. Analytical work for Holt Zone 4 West, Tousignant West and Blacktop was performed by Lab Expert Inc. located in Rouyn-Noranda, QC. Samples consisted of saw cut NQ caliber core. Gold analysis was conducted using 30 gram samples (1AT portions) with gold grades determined by standard fire assay preparation and a gravimetric finish.   Analytical work for core samples from the Zone 6 and Smoke Deep drill programs was performed at SAS' Holt mine assay lab. Samples consisted of whole BQ caliber sized core. Gold analysis was conducted using 30 gram samples (1AT portions) with gold grades determined by standard fire assay preparation and a gravimetric finish.

SAS employs an industry accepted QA/QC program consisting of certified reference standards and blanks that are inserted into the sample stream, which represent approximately 5% of the total sample population.


Qualified Person

The exploration programs on the Company's various mineral properties are under the supervision of Doug Cater, P. Geo, the Company's VP, Exploration.  Mr. Cater is a qualified person as defined by NI 43-101, and has reviewed and approved this news release.


About SAS

SAS (operating as "SAS Goldmines"), is a gold mining and exploration company with an extensive land package in the Timmins mining district, north-eastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada.

SAS owns and operates the Holt and Holloway mines. The Company is also advancing the Taylor Project and is conducting an aggressive exploration program across 120km of land straddling the Porcupine-Destor Fault Zone.


Appendix: Table 5: Holt Zone 6 710 sub-level drill results. (Collar Coordinates in Holt mine grid system)

DDH

EASTING 

NORTHING 

ELEVATION  

AZ

DIP

FROM

TO

LENGTH(m)

Au g/t

CUT
25 g/t
Au

710-100

10820

9461

4298

226

1

99.3

100.2

0.9

3.97


710-101

10820

9461

4298

226

10

86.1

92.0

5.9

4.16


Including






89.0

90.0

1.0

7.00


Including






91.0

92.0

1.0

9.97


710-102

10821

9461

4300

213

65

77.6

84.7

7.1

4.24


Including






78.2

80.2

2.0

11.05


Including






83.7

84.7

1.0

3.78


710-103

10822

9462

4300

213

84

55.5

57.4

1.9

3.01


Including






55.5

56.5

1.0

3.68








71.4

72.4

1.0

3.22








73.6

74.6

1.0

3.71








98.1

111.3

13.2

8.71

8.55

Including






98.1

101.1

3.0

12.37


Including






101.9

103.3

1.4

5.42


Including






107.5

110.6

3.1

20.75

20.09

710-104

10821

9461

4300

197

65

81.8

86.3

4.5

3.16


Including






81.8

82.8

1.0

6.35


710-105

10821

9462

4300

197

75

64.6

66.0

1.4

3.94








84.7

85.3

0.6

6.16








88.0

91.6

3.6

5.35


Including






88.0

90.0

2.0

6.09


Including






90.6

91.6

1.0

6.89


710-106

10821

9460

4299

186

25




NSV


710-107

10821

9460

4299

186

37

42.2

44.2

2.0

5.11


Including






42.2

43.2

1.0

9.06








54.7

56.4

1.7

3.73


Including






55.7

56.4

0.7

6.55






66.0

72.4

6.4

5.46


Including




67.9

71.8

3.9

7.64


710-108

10821

9461

4300

176

54

70.8

78.0

7.2

3.75


Including




70.8

71.8

1.0

3.53


Including




73.8

74.8

1.0

8.51


Including




76.6

77.0

0.4

20.06


710-109

10821

9461

4300

176

64

75.3

82.6

7.3

3.46


Including




75.3

77.5

2.2

4.86


Including




79.2

79.9

0.7

6.84


Including




80.8

82.6

1.8

3.56


710-110

10821

9462

4300

176

74

66.1

67.0

0.9

5.27






83.4

85.0

1.6

4.53






92.1

96.4

4.3

4.82


Including




92.1

92.9

0.8

12.20


Including




93.9

96.4

2.5

4.25


710-111

10821

9462

4300

176

80

66.3

69.0

2.7

6.65


Including




66.3

68.0

1.7

9.86






95.0

103.6

8.6

7.93


Including




95.0

101.3

6.3

8.90


Including




102.4

103.6

1.2

9.31


710-112

10863

9475

4307

224

70

105.7

117.6

11.9

8.01

7.42

Including 






108.0

110.8

2.8

11.17


 Including






112.0

116.1

4.1

13.11

11.38

710-113

10863

9476

4307

224

80

79.5

81.5

2.0

4.61


Including






80.7

81.5

0.8

8.30








108.0

131.6

23.6

6.74

6.61

Including






108.0

108.8

0.8

5.13


Including






110.1

110.5

0.4

18.86


Including






114.0

117.9

3.9

11.08


Including






118.9

120.5

1.6

9.31


Including






121.0

121.6

0.6

7.74


Including






123.7

124.7

1.0

3.03


Including






125.7

131.1

5.4

13.32

12.75

710-114


192

15

CANCELLED

710-115

10863

9474

4306

192

24

36.8

41.0

4.2

3.60


Including






36.8

39.5

2.7

3.56


Including






40.4

41.0

0.6

7.36








61.9

63.4

1.5

4.07








71.3

78.7

7.4

5.41


Including






74.8

76.7

1.9

10.9


Including






77.6

78.7

1.1

6.30


710-116

10863

9475

4307

192

64

65.3

66.2

0.9

4.56








93.4

95.5

2.1

3.17








100.1

105.0

4.9

5.46


Including






100.1

103.8

3.7

6.31


710-117

10863

9476

4307

192

77

106.8

133.0

26.2

6.64


Including






107.8

120.9

13.1

8.91


Including






127.0

132.2

5.2

11.82


710-118

10863

9474

4306

180

37

58.3

60.1

1.8

13.02








69.0

73.7

4.7

5.88


Including






69.0

72.3

3.3

6.22


Including






73.2

73.7

0.5

12.17








75.9

76.7

0.8

15.9








80.6

80.9

0.3

12.44


710-119

10863

9475

4307

180

64

94.5

95.1

0.6

15.32








97.0

102.7

5.7

7.88


Including






97.0

100.0

3.0

8.93


Including






100.4

102.7

2.3

7.52


710-120


168

27

CANCELLED

710-121

10864

9475

4307

168

54

79.2

90.7

11.5

6.32


Including






82.3

90.7

8.4

7.92


710-122

10864

9475

4307

168

64

88.7

101.6

12.9

5.45


Including






88.7

90.1

1.4

5.61


Including






90.4

94.2

3.8

6.08


Including






95.6

101.6

6.0

5.85


710-123

10863

9475

4307

168

72

101.1

111.5

10.4

9.57


Including






102.1

107.6

5.5

10.39


Including






108.5

111.5

3.0

12.66


710-124

10864

9475

4307

168

79

107.5

108.0

0.5

29.43

25.00







112.0

126.7

14.7

9.62

9.40

Including






112.0

116.1

4.1

9.81


Including






118.8

119.8

1.0

10.98


Including






120.2

121.1

0.9

4.78


Including






121.8

126.7

4.9

15.85

15.17

710-125

10889

9473

4305

193

-6

69.7

78.5

8.8

7.63


Including






70.4

77.2

6.8

7.74


Including






77.7

78.5

0.8

15.25


710-126

10889

9473

4305

193

36

29.7

38.0

8.3

4.41


Including




31.9

34.7

2.8

6.00


Including




35.5

37.0

1.5

9.34






43.6

44.6

1.0

4.02






70.9

82.4

11.5

6.47


Including




71.9

75.5

3.6

9.95


Including




76.5

78.5

2.0

4.63


Including




79.5

82.4

2.9

8.18


710-127


184

-4

CANCELLED

710-128

10889

9474

4306

184

59

67.8

68.5

0.7

6.64








80.4

92.8

12.4

5.22


Including






81.6

85.2

3.6

6.81


Including






86.2

89.2

3.0

6.85


Including






90.2

92.8

2.6

4.45


710-129

10889

9474

4306

184

74

99.9

114.2

14.3

4.95


Including






100.9

103.6

2.7

8.89


Including






106.9

109.0

2.1

5.13


Including






110.0

114.2

4.2

6.97


710-130

10889

9473

4304

172

6

39.5

40.4

0.9

3.06








44.2

44.8

0.6

4.73








66.0

74.2

8.2

5.23


Including






66.0

66.5

0.5

3.94


Including






68.9

70.9

2.0

7.82


Including






72.6

73.4

0.8

18.8


Including






73.7

74.2

0.5

4.77


710-131

10889

9473

4305

172

31

69.6

77.0

7.4

6.02


Including






69.6

71.3

1.7

11.08


Including






72.7

73.0

0.3

4.33


Including






74.1

77.0

2.9

7.28


710-132

10889

9473

4306

172

52

36.0

43.7

7.7

4.35


Including






36.0

39.0

3.0

5.33


Including






42.0

43.7

1.7

6.69








64.5

65.4

0.9

3.38








76.7

87.5

10.8

6.89


Including






76.7

78.2

1.5

3.51


Including






79.2

87.5

8.3

8.19


710-133

10889

9474

4306

172

64

40.0

42.0

2.0

4.17








92.7

97.6

4.9

4.89


Including






92.7

95.4

2.7

6.78


Including






96.4

97.6

1.2

3.63


710-134

10891

9473

4304

12

-3

NSV

710-135

10891

9473

4304

128

8

104.9

106.0

1.1

3.16


710-136

10891

9473

4304

128

19

92.0

97.7

5.7

4.91


Including






92.0

93.0

1.0

3.39


Including






95.0

97.7

2.7

7.59








103.5

105.5

2.0

5.28


Including






103.5

104.5

1.0

9.10


710-137

10891

9473

4305

128

33

51.0

51.6

0.6

3.07








52.6

53.5

0.9

3.70








84.5

85.6

1.1

4.02








99

104.3

5.3

3.63


Including






100.4

101.3

0.9

4.25


Including






102.3

104.3

2.0

6.63



Notes: All lengths are reported as core length.  Assays are cut to 25.00 g/t Au. NSV = no significant values


FORWARD-LOOKING INFORMATION

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, concerning the Company's business, operations, financial performance, condition and prospects, as well as management's objectives, strategies, beliefs and intentions. Forward-looking information is frequently identified by such words as "may", "will", "plan", "expect", "estimate", "anticipate", "believe", "intend" and similar words referring to future events and results, including in respect of the expansion of mineralized zones at Holt, the extension of the mine life at Holloway and the completion of additional drilling at Holloway.

This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, unanticipated operational or technical difficulties which could increase the time necessary to complete the exploration and development initiatives, escalate operating and/or capital costs and reduce anticipated production levels; uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of the mineral reserves and resources; the Company's dependence on key employees and changes in the availability of qualified personnel; fluctuations in gold prices and exchange rates; operational hazards and risks, including the inability to insure against all risks; changes in laws and regulations; and changes in general economic conditions. Such forward looking information is based on a number of assumptions, including in respect of the ability to achieve operating cost estimates, the level and volatility of the price of gold, the accuracy of reserve and resource estimates and the assumptions on which such estimates are based, the sufficiency of the Company's cash flow and financial reserves to carry out its planned exploration programs, the ability to attract and retain qualified personnel to conduct its exploration programs and operate its mines and general business and economic conditions.  Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, readers are cautioned not to place undue reliance on this forward-looking information. SAS does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. A further description of the risks and uncertainties facing the Company may also be found in the Company's Annual Information Form available on SEDAR at www.sedar.com.

SOURCE St Andrew Goldfields Ltd.



Contact

about St Andrew Goldfields Ltd., please contact:
Tel: 1-800-463-5139 or (416) 815-9855
Fax: (416) 815-9437
Website: www.sasgoldmines.com

Keyvan Salehi, P. Eng., MBA,
Vice President, Corporate Development and Technical Services, ksalehi@sasgoldmines.com

Duncan Middlemiss, P. Eng., President & CEO
dmiddlemiss@sasgoldmines.com;

Ben Au, CFO, VP Finance & Administration
bau@sasgoldmines.com

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