Savant Encounters Its Longest Gold Intercept in Final Hole of First Phase Drill Progam at Parbec
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/10/10 -- Savant Explorations Ltd. (TSX VENTURE: SVT) ('Savant') have released results for the final three drill-holes of the first phase of drilling on the Parbec Project located along the Cadillac Break, 20 kilometres east of the Cadillac Gold Camp, Quebec's largest gold producing district, and 5 kilometres west and along strike from the historic Malartic Gold Camp where Osisko Mining is currently developing a large open pit on the Canadian Malartic Gold Project. The first phase of drilling was designed to test the property at approximately 200 metre intervals along the length of the property for extensions of the known gold mineralization. Significant intersections from the new drill holes include 28.6 metres averaging 1.37 gpt gold including 1.5 metres averaging 16.2 gpt gold.
The eighth hole (Par-10-08) located 200 metres northwest and along strike from earlier released hole Par-10-05, encountered similar broad gold mineralization in altered porphyry intrusive and adjacent sheared ultramafic rocks. Assay results of the zone averaged 1.37 gpt gold over 28.6 metres (including 16.2 gpt gold over 1.5 metres) at an average vertical depth of approximately 60 metres. This broad zone of gold mineralization associated with intrusive rocks also occurs in drill-hole Par-10-02 (1.0 gpt gold over 8.5 metres), located 400 metres to the northwest of hole Par-10-08.
The seventh hole, Par-10-07, intersected 2.90 gpt gold over 2.25 metres (including 14.85 gpt gold over 0.40 metres) in the Camp Zone and several intercepts of anomalous levels of gold including 2.3 gpt gold over 0.45 metres, 0.39 gpt gold over 4.25 metres and 0.977 gpt gold over 1.9 metres in the North Veins Zone at vertical depths of between 190 and 215 metres.
The sixth and eastern most hole, Par-10-06, located 200 metres east of hole Par-10-05, intersected 1.43 gpt gold over 3.4 metres (including 3.36 gpt gold over 1.0 metre) at a vertical depth of 65 metres and approximately 60 metres south of the main Cadilliac Deformation Zone (CDZ).
A plan map showing the location of the drill holes for the completed first phase drill program is available on the company's web site (www.savantexplorations.com). Details of the results are listed in the following tables.
Drilling Update
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Gold
Hole From To Core Grade Vertical
Number Zone (m) (m) Length (gpt) Depth (m)
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8 Central Veins 84.0 112.6 28.6 1.37 58
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8 including 89.4 90.5 1.1 2.08 59
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8 including 93.5 95.0 1.5 16.2 60
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8 Deep Intercept 542.8 543.15 0.35 2.58 325
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7 Camp Zone 108.15 110.40 2.25 2.90 75
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7 including 110.0 110.4 0.40 14.85 75
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7 North Veins 320.3 320.75 0.45 2.30 190
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7 North Veins 322.55 326.80 4.25 0.39 200
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7 North Veins 335.5 337.4 1.9 0.977 215
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6 Pontiac Veins 71.5 74.9 3.4 1.43 65
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6 including 73.9 74.9 1.0 3.36 65
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(i) True widths are approximately 60% of drill interval.
Savant's eight (8) drill-hole drill program totalling 4,005 metres was completed on July 9, 2010. Analytical results for all eight drill holes have now been received and reported upon.
Aggregate of Significant Results from the 2010 Parbec Drill Program
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Gold
Hole Length Grade Vertical
Number Zone From (m) To (m) (m) (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 68.7 8.5 1.0 50
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2 including 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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6 Pontiac Veins 71.5 74.9 3.4 1.43 65
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7 Camp Zone 108.15 110.4 2.25 2.90 75
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7 North Veins 322.55 326.8 4.25 0.39 200
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8 Central veins 84.0 112.6 28.6 1.37 58
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including 93.5 95.0 1.5 16.2 60
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(i) True widths are approximately 60% of drill interval.
Jack McClintock, President and CEO of Savant commented, 'The discovery in drill-hole Par 10-08 of a broad zone of gold mineralization near surface and associated with altered porphyry intrusive rocks is very exciting as these intrusions appear to be the northwest strike extensions of the same series of porphyry intrusions that host gold mineralization at the Lapa-Cartier occurrence and East Amphi Deposit located respectively 1.2 kilometres and 1.5 kilometres southeast of Parbec on the adjacent Osisko Canadian Malartic Property.'
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 website (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, Ext. 2242
(604) 689-8355 (FAX)
info@SavantExplorations.com
www.SavantExplorations.com