Savant Announces Results of Second Through to Fifth Hole on the Parbec Gold Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/22/10 -- Savant Explorations Ltd. (TSX VENTURE: SVT) ('Savant') announces the results of the second (Par-10-02), through to the fifth drill-hole completed on the Parbec Property. Results of the holes are presented in the table below.
The second drill-hole, drilled within the historically defined Camp Zone and positioned 165m NW and along strike from previously reported drill-hole Par-10-01, encountered broad anomalous levels of gold in the Camp Zone veins. The highest gold values occur in the Central Veins, a parallel vein system situated SW of the Camp zone Veins (see table below).
The third hole (Par-10-03), located to test the Camp Zone Veins at a vertical depth of 250 metres below drill hole Par-10-01 encountered only anomalous gold values in the Central and Camp Zones.
The fourth hole (Par-10-04) positioned 515m west of and along strike from Par-10-01, intersected the Camp Zone at a vertical depth of 220m from surface returning 0.77gpt over 4.5 metres including 1.5gpt gold over 1.68 metres.
The fifth hole (Par-10-05) positioned 425m east from Par-10-01, encountered two broad zones of mineralization in the Central Veins including 1.03 gpt over 9.95 metres (including 2.66 gpt gold over 1.6 metres) and 1.89 gpt over 6.9m (including 2.27 gpt gold over 4.0 metres) as well as anomalous gold in the Camp Zone of 0.53 gpt gold over 1.6m at a depth of 425m and a deeper intercept of 2.23 gpt gold over 1.45m at a depth of 490m.
A plan map showing the location of the drill hole and other planned holes is available on the company's web site (www.savantexplorations.com). Details of the results are listed in the following table.
Drilling Update
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Vertical
Hole From To Core depth
Number Zone (metres) (metres) length gpt gold (metres)
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2 Central Veins 60.2 62.5 2.3 2.3 50
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2 Central Veins 109.0 111.9 2.9 2.13 85
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2 including 109.0 110.45 1.45 3.68 85
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2 Camp Zone 184.35 212.5 28.15 0.30 160
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3 Central Veins 416.55 412.1 4.55 0.28 325
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3 Camp Zone 493.3 496.0 2.7 0.45 375
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4 Camp Zone 281.5 286.0 4.5 0.77 220
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4 including 281.5 283.0 1.5 1.68 220
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5 Central Veins 291.15 301.10 9.95 1.03 225
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5 including 298.0 299.60 1.60 2.66 225
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5 Central Veins 342.1 349.0 6.9 1.89 275
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5 including 343.6 347.6 4.0 2.27 275
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5 Camp Zone 512.2 513.8 1.6 0.53 425
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5 Deep Intercept 644.55 646.0 1.45 2.23 510
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(i) True widths are approximately 60% of drill interval
Savant's eight (8) hole drill program totalling 4,005 m was completed on July 9, 2010. Analytical results from the initial five holes have now been received and reported upon. Assay results from drill hole Par-10-06, Par-10-07 and Par-10-08 are pending.
Aggregate of Significant Results from the 2010 Parbec Drill Program
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Hole From To Length Vertical
Number Zone (metres) (metres) (metres) Au gpt Depth (m)
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1 Camp Zone 175.6 178.5 2.9 19.25 150
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1 North Veins 382.0 384.5 2.5 2.10 325
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2 Central Veins 60.2 62.5 2.3 2.3 50
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2 Central Veins 109.0 110.45 1.45 3.68 85
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4 Camp Zone 281.5 283.0 1.5 1.68 220
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5 Central Veins 291.15 301.10 9.95 1.03 225
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5 Central Veins 342.1 349.0 6.91 1.89 275
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5 Deep Intercept 644.55 646.0 1.45 2.23 510
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(i) True widths are approximately 60% of drill interval
The Parbec Gold Property, is located along the prolific Cadillac Break, 20km east of the Cadillac Gold Camp (historic production of greater than 8.7M ozs), Quebec's largest gold producing district, and 5km west and along strike from the historic Malartic Gold Camp where Osisko Mining is currently developing its large open pittable Canadian Malartic Gold Project estimated to contain a total in-pit measured and indicated reserve of 8.97 Million ounces (Osisko February 10, 2010 press release).
Savant can acquire a 100% interest in the Parbec Property under a four year option agreement with Globex Mining Enterprises Inc, the terms of which have been previously divulged and can be viewed in detail on Savant's web site www.savantexplorations.com.
John McClintock, P.Eng. President and CEO of Savant is the Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release.
This news release contains forward-looking statements concerning the Parbec Property. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to obtain necessary regulatory approvals, the failure to reach agreement on final documentation, exploration results and other risk factors that are beyond Savant's control. There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939 3989
bkomorowski@remarkfinancial.com
Renmark Financial Communications Inc.
Maurice Dagenais
(514) 939 3989
mdagenais@renmarkfinancial.com
Savant Explorations Ltd.
John McClintock
President and CEO
(604) 801 7240
(604) 689 8355 (FAX)
info@SavantExplorations.com
www.SavantExplorations.com