Savant Intercepts Show Continuity of Near Surface Gold Mineralization on its Parbec Gold Property
10 Agosto 2011 - 3:25PM
Marketwired
Savant Explorations Ltd. (TSX VENTURE: SVT) ("Savant") is pleased
to announce the results of its 1,230 metre, five-hole drill program
on the Parbec Gold Property. The 2011 infill drill program targeted
the near surface gold mineralization originally identified in
Savant's 2010 drill program. Low grade, potentially bulk-minable,
gold mineralization with occasional internal higher gold values was
encountered in all of the 2011 drill holes.
Drilling at 50 metre centres evaluated a 375m strike length for
this style of mineralization in the vicinity of the historic
"Discovery and # 2 Zones" where the better intercepts from the 2010
drilling returned 1.82gpt Au over 39.6m (hole: Par-10-05) and
1.37gpt Au over 28.6m (hole: Par-10-08). The results of the 2011
infill drilling program demonstrate continuity of the low-grade
mineralization over the 375 metre strike length.
A map showing the location of the drill hole is available on the
company's web site (www.savantexplorations.com). The vertical depth
of the more significant 2011 gold intercepts ranges from surface to
160m as listed in the table below.
2011 Drill Results
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From To Core gpt Vertical depth
Hole Number Zone (metres) (metres) length gold (metres)
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Par-11-01 "Discovery" 52.5 76.5 24.0 1.03 60
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including 55.5 57.0 1.5 4.91 59
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"Discovery" 141.0 147.0 6.0 1.01 132
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"Discovery" 318.0 324.0 6.0 0.95 297
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Par-11-02 "Discovery" 220.5 228.0 7.5 1.45 160
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including 225.0 228.0 3.0 3.05 160
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Par-11-03 "# 2" 6.0 13.5 7.5 2.45 6
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"# 2" 27 48.0 24.0 0.56 22
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including 40.5 42 1.5 2.2 33
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Par-11-04 "Discovery" 7.5 10.5 7.5 1.8 6
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Par-11-04 "Discovery" 34.5 49.5 15.0 1.05 28
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including 36.0 37.5 1.5 4.86 30
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"Discovery" 75.4 93 17.6 0.53 57
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"Discovery" 132.0 136.5 4.5 2.61 100
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including 133.5 135.0 1.5 6.25 100
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"Discovery" 159.0 177.0 18 1.11 120
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Par-11-05 "Discovery" 53.0 60.2 22.5 1.07 37
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"Discovery" 88.1 96 7.9 0.50 65
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"Discovery" 111 133.5 24.0 1.02 78
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including 117 118.5 1.5 4.76 85
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(i) True widths are approximately 60% of drill interval
All of the results of sampling have now been received and
reported on.
About the Parbec Gold Property
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 10.7 Million ounces (N.I. 43-101,
Osisko March 31, 2011 press release). Savant can acquire a 100%
interest in the Parbec Property under a four year option agreement
with Globex Mining Enterprises Inc. (TSX: GMX)(OTCQX:
GLBXF)(FRANKFURT: G1M).
Quality Control
Savant's NQ drill-core sampling, including the quality
assurance/quality control program, is performed internally by
Savant personnel under the immediate supervision of Savant's
project geologist, separately from the laboratory's own internal
QA/QC procedure. Cut, half core samples are tagged, bagged and
sealed in individual plastic bags and batched into larger 20kg rice
bags which are then collected regularly by the ALS Chemex sample
collection service from Savant's core sampling facility in Noranda
and delivered to ALS Chemex Labs in Val d'Or, Quebec. Samples are
crushed, split and pulverized with 30 gram subsamples selected for
commercial standard fire assay processing with an atomic absorption
finish. Samples returning greater than 10ppm gold are automatically
re-run using a gravimetric finish. Additionally, metallic sieve
analysis is performed on samples were visible gold is identified or
suspected of being present. Analytical accuracy and precision are
monitored by the insertion of routine coarse blanks and accredited
low and high grade gold reference standards at 20 sample intervals
in the sample stream. Blind duplicates on pulps are also randomly
selected to further verify the accuracy of the analytical results.
At the end of the program, a suite of sample pulps will be sent to
a second accredited laboratory for comparative verification.
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
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