Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

October 07, 2009 11:29 ET

Savant Commences 1800 metre Drill Program on the Vinata Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2009) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce that drilling has started on its Vinata Property located in North Central Mexico in the prolific Central Mineral Belt that hosts numerous large silver-lead–zinc deposits at Bismark, Santa Eulalia and Naica. The Vinata Project has excellent potential for the discovery of a new major silver-zinc-lead deposit within the mining districts of Santa Eulalia and Naica in the State of Chihuahua Collectively; these mines have produced more than 750 million ounces of silver and significant zinc and lead.

Vinata is a large property covering approximately 109 square kilometres and represents a rare opportunity of a large property position associated with the surface expression of a potential new district scale discovery. The local geology and alteration show many similarities to the Santa Eulalia District, 55 kilometres to the north, which hosts numerous silver-zinc-lead deposits within Upper Cretaceous limestones. Mapping on Vinata by Savant identified well defined vein-breccia structures flanked by extensive clay altered volcanic rocks hosting anomalous silver, zinc and lead in micro veinlets of carbonate and manganese. This alteration and mineralization is interpreted to be the uppermost part of carbonate replacement silver-lead-zinc mineralizing system and occurs intermittently over a north westerly trend of approximately 3000 metres.

The current drilling program includes approximately 1,800 metres of diamond drilling that will test the continuity of the known mineralized structures, as well as for possible occurrence of manto and chimney type mineralization at depth. In most carbonate replacement deposits ("CRD") such as Santa Eulalia, the upper parts of the mineralized system are silver-rich with zinc-lead massive sulphide mineralization; which commonly occur in the upper part of the Cretaceous limestone strata as stratabound manto deposits. The initial drill hole has targeted the down dip extension of a vein-breccia structures and flanking clay altered volcanic rocks at the northern end of the zone.

The Vinata Property is subject to a purchase agreement between Savant and Minera Gama S.A. de C.V. (see Savant news release of June 11, 2009) which includes aggregate cash purchase payments of US$2,635,000 and granting of a royalty of 2% of Net Smelter Returns which can be reduced to 1% NSR upon making payments of US$1,000,000. Minera Gama, S.A. de C.V. subsequently transferred its interest to Minera Cima S.A. de C.V. in the first quarter of 2009.

In July 2009, Savant granted Selwyn Resources Ltd. an option to acquire an initial 50% interest in the Vinata Property for $1,000,000 in expenditures and upon exercising that option, an option for Selwyn to increase its interest to 55% by making additional $500,000 in expenditures. Selwyn is committed to minimum US$500,000 exploration expenditure by January 15, 2010. Savant is the project operator during the earn-in period.

John McClintock, P. Eng, President Savant Explorations Ltd. is the Qualified Persons, as defined by National Instrument 43-101, responsible for the technical data in this news release.

This press release contains forward-looking statements concerning Savant and the Vinata Property. These forward-looking statements are based upon the reasonable beliefs of Savant and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Savant. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Savant may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Savant does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.

Neither the 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.

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