Savant Explorations Ltd.: Infill Sampling of Drill Holes From Parbec Gold Project Adds New Gold Intersections of 1.82 gpt Over 39.6 Metres and 2.28 gpt Over 12.4 Metres
23.11.2010 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/23/10 -- Savant Explorations Ltd. (TSX VENTURE: SVT) ('Savant') is pleased to announce that infill sampling of core from the First Phase Drill Program on the Parbec Project included revised intersections consisting of 1.82 gpt gold over 39.6 metres at an average vertical depth of 270 metres (including 28.8 gpt gold over 1.5 metres) and an intercept of 2.28 gpt gold over 12.4 metres at an average vertical depth of 320 metres (including 5.7 gpt gold over 3 metres). Summaries of significant results from the infill sampling are listed in the table below. The Parbec Project is located along the Cadillac Break, 20 kilometres southeast of the Cadillac Gold Camp, 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 most significant revised intersections occur in drill-hole Par-10-05 located 200 metres southeast and along strike from earlier released drill-hole Par-10-08 which encountered similar broad gold mineralization in altered porphyry intrusive and adjacent sheared ultramafic rocks grading 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 600 metres to the northwest of hole Par-10-05.
The gold mineralization in both drill-holes Par-10-05 and Par-10-08 is open to depth. Historical drill-holes between these holes, with a single exception, were, as in the case of Savant's initial sampling, selectively assayed. The one historical drill-hole that was entirely sampled has a reported intersection of 0.6 gpt over 18 metres. Unfortunately, no drill core remains from the earlier drilling that can be sampled and these holes will have to be re-drilled.
A plan map showing the location of the drill-holes for the completed First Phase Drill Program is available on the Company's website (www.savantexplorations.com). Details of the results are listed in the following table:
Drilling Update
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Core Vertical
Hole From To Length gpt Depth
Number Zone (m) (m) (m) Gold (m)
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5 Pontiac Veins 110.5 126.5 16.0 0.43 58
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5 Pontiac Veins 291.15 305.6 14.45 0.97 240
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5 Southern Veins 3,206 359.5 38.9 1.82 270
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5 including 352 353.5 1.5 28.8 275
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5 Central Veins 383.5 395.9 12.4 2.28 320
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5 including 389.9 392.9 3.0 5.7 315
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4 Camp Zone Veins 329.0 334.4 5.4 0.6 250
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1 Central Veins 64.25 77.8 13.55 0.6 60
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(i) True widths are approximately 60% of drill interval.
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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. A table of all significant results from the program is attached as an appendix.
Jack McClintock, President and CEO of Savant commented, 'Our initial drilling program was designed as a reconnaissance test of the property with a series of 200 metre spaced drill-holes to search for high-grade Lapa style mineralization. We are very pleased that 3 of the 8 holes have intersected significant gold grades over significant thicknesses as well as discovering widespread low-grade gold mineralization near surface.'
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.
Aggregate of Significant Results from the 2010 Parbec Drill Program
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Vertical
Hole From To Length gpt Depth
Number Zone (m) (m) (m) Gold (m)
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1 Central Veins 64.25 77.8 13.55 0.6 60
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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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4 Camp Zone 329.0 334.4 5.4 0.6 250
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5 Central Veins 291.15 305.6 14.45 0.97 225
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5 Central Veins 342.1 349.0 6.91 1.89 275
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5 Pontiac Veins 110.5 126.5 16.0 0.43 58
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5 Central Veins 291.15 305.6 14.45 0.97 240
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5 Central Veins 332.6 359.5 27.9 1.99 270
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5 including 352 353.5 1.5 28.8 275
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5 Central Veins 383.5 395.9 12.4 2.28 320
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5 including 389.9 392.9 3.0 5.7 315
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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.
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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:
Savant Explorations Ltd.
John McClintock
President and CEO
(604) 801-7240, Ext. 2242
(604) 689-8355 (FAX)
info@SavantExplorations.com
www.savantexplorations.com