Savant Explorations Ltd.: Parbec Drill Program to Test Near Surface Gold Mineralization Underway
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/19/11 -- Savant Explorations Ltd. (TSX VENTURE: SVT) ('Savant') is pleased to announce that a 1400 metre drilling program is underway on its Parbec project to test the extent and continuity of shallow near surface gold mineralization discovered by Savant in last year's drill program (see Savant November 23, 2010 news release). This year's program will focus on the area of drill holes Par-10-05 and Par-10-08, which intersected 1.82gpt gold over 38.9 metres and 1.37gpt gold over 28.6 metres respectively. Results from the 2011 drill program will be released once all results have been received and compiled.
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.
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:
Savant Explorations Ltd.
John McClintock
President and CEO
(604) 568-5817
info@SavantExplorations.com
www.SavantExplorations.com