Savant Provides Updates on McWatters Drilling
27 Janeiro 2011 - 4:15PM
Marketwired
Savant Explorations Ltd. (TSX VENTURE: SVT) ("Savant") is pleased
to provide the following update on its McWatters Project. Since
resuming drilling earlier in January, an additional 2 holes have
been completed and drilling of the 6th drill-hole has begun. To
date, 4 holes have been drilled in the JKL zone, with the 5th hole
drilled into the 702 Zone. We anticipate this first phase program
of drilling will be completed in early February with approximately
3,500 metres completed by that date. This is 1,500 metre more than
the originally planned 2,000 metre program. Sampling of the core
resumed in early January and results will be announced when they
have been received and compiled.
The McWatters Property covers 4.0 km of strike length along the
Cadillac-Larder Lake Break and includes the past-producing
McWatters Mine (reported past production of 334,500 tonnes grading
10.8 grams/t gold), and two diluted historical resources of 235,000
tonnes grading 6.6 grams/t gold and 170,000 tonnes grading 5.0
grams/t gold referred to as the JKL and 702 Zones. A Qualified
Person has not done sufficient work to classify these historical
estimates as current mineral resources, Savant is not treating the
historical estimates as current mineral resources and the
historical estimates should not be relied upon. The historical
resources were shallowly tested to depths less than 225 metres and
remain open at depth. One of the historical resources occurs within
a broad zone of alteration in mafic volcanic rocks along the main
Cadillac-Larder Lake Break. The style and setting of the
mineralization in this historical resource is similar to that in
the high-grade, deep seated gold deposits in the Kirkland Lake
District including the Kerr Addison Mine (39.5 Mt grading 8.5
grams/t gold).
Little exploration has occurred on the property away from the
McWatters Mine and the historical resources. In these areas,
testing of the main Cadillac-Larder Lake Break and secondary
parallel structures, which host the gold mineralization on the
property, is generally limited to depths in the order of 150
metres. The historical records note encouraging drill intercepts of
2 to 6 grams/t gold over narrow intervals in a parallel structure
located north of the main Cadillac-Larder Break which warrants
additional drilling. Savant has an option to acquire a 100%
interest in the McWatters Property (See Savant press November 9,
2010 for details).
John McClintock P.Eng., President of Savant Explorations Ltd. 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 McWatters 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) 801-7240, Ext. 2242 (604) 689-8355 (FAX)
info@SavantExplorations.com www.SavantExplorations.com
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