Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

January 15, 2008 09:30 ET

Savant Explorations Ltd. Reports NI 43-101 Compliant Resource Estimate for Blue Moon Polymetallic Massive Sulphide Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2008) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce the results of a preliminary National Instrument 43-101 compliant resource estimate of the poly metallic massive sulphide deposit at its Blue Moon project in Northern California. The technical report was coauthored by Moose Mountain Technical Services (MMTS) and Giroux Consultants Ltd. ("GCL"). The resource estimate estimated by GCL at Blue Moon has been classified as Indicated and Inferred.

For resource calculation purposes, it has been assumed that the Blue Moon Deposit would likely be mined by underground methods. The results of the resource estimate are as follows:



BLUE MOON MINERALIZED PORTION OF BLOCKS - CLASSED INDICATED
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Tons Grade greater than Cutoff Contained Metal
greater ----------------------------------------------------------
Cutoff than Zn Cu Ag Au Pb Mlbs Mlbs Mlbs Mozs Mozs
GRV Cutoff ----------------------------------------------------------
US$ (tons) (%) (%) (oz/t) (oz/t) (%) Zn Cu Pb Ag Au
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$75 3,020,000 5.63 0.64 1.36 0.04 0.26 339.93 38.41 15.52 4.11 0.109
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$85 2,620,000 6.01 0.67 1.41 0.04 0.27 314.77 35.21 14.10 3.69 0.100
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$95 2,270,000 6.38 0.71 1.42 0.04 0.28 289.79 32.05 12.62 3.23 0.089
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BLUE MOON MINERALIZED PORTION OF BLOCKS - CLASSED INFERRED
---------------------------------------------------------------------------
Tons Grade greater than Cutoff Contained Metal
greater ----------------------------------------------------------
Cutoff than Zn Cu Ag Au Pb Mlbs Mlbs Mlbs Mozs Mozs
GRV Cutoff ----------------------------------------------------------
US$ (tons) (%) (%) (oz/t) (oz/t) (%) Zn Cu Pb Ag Au
---------------------------------------------------------------------------
$75 3,120,000 5.58 0.39 1.56 0.04 0.39 348.00 24.15 24.21 4.85 0.122
---------------------------------------------------------------------------
$85 2,680,000 5.98 0.41 1.63 0.04 0.40 320.37 21.71 21.65 4.37 0.107
---------------------------------------------------------------------------
$95 2,190,000 6.47 0.43 1.75 0.04 0.42 283.25 18.79 18.57 3.83 0.090
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The cut-off grades used were calculated on the basis of all five metals based on the Gross Recoverable Value ("GRV") assumptions and the range of expected mining, processing and administrative costs based on costs associated with underground mining of known, similar sized deposits. Assumptions used in the calculation of the resources are included under Technical Highlights.

Remodelling of the deposit using the digitized data shows the deposit is open both to depth and to the south. Of particular interest is an 800 foot long coincident gold, zinc and copper anomaly covering the exhalite horizon south of the mineralized bodies which is untested by drilling. The anomaly is defined by values greater than 50 ppb gold, 256 ppm zinc and 100 ppm copper. This geochemical anomaly is also a coincident induced polarization chargeability anomaly as defined by greater than 15 milliseconds. The potential to expand the current resources is considered excellent.

Technical Highlights

A total of 82 drill holes were used totalling a combined 111,250 ft. with 1,540 assays. All supplied units were Imperial and these units were used in the resource calculation. Samples were assayed for Cu, Pb and Zn in percent and Au and Ag in ounces per ton. Erratic high assays were capped at reasonable levels based on the grade distributions for each mineralized domain. Uniform down-hole composites 10 ft. in length were produced that honoured the boundaries of the mineralized solids and waste. Small intervals at the solid boundaries were combined with the adjoining sample if less than 5 ft. to produce a uniform support of 10 +/- 5 ft. Long intervals of un-assayed core were added to waste and assigned 0.001 in the Composite process. A total of 297 specific gravity determinations were available for the Blue Moon Project. Specific gravities were converted to the Imperial tonnage conversion factor by the following equation:

Tonnage Factor (cu. ft. / ton) equals 2000 lbs/ton / (62.4 lbs/cu.ft. x SG).

A three dimensional block model with blocks 20 x 20 x 20 ft. in dimension was created to encompass the geologic solids. Each block was coded with the percentage of the block below topography. Each block was also coded with the mineralized zone code and the percentage of the block within that mineralized solid.

As the Blue Moon is a multi-variable deposit with all variables contributing to the economic value a method of combining the grades into one variable was required. A gross recoverable value "GRV" was chosen making use of reasonable metal prices and estimated recoveries. The parameters used were as follows:



Zinc - $0.75 / pound 95% Recovery
Copper - $2.00 / pound 93% Recovery
Lead - $0.78 / pound 95% Recovery
Silver - $8.50 / oz 65% Recovery
Gold - $600 / oz 70% Recovery


The equation to calculate GRV was as follows:

GRV(US$) equals Zn% x 14.25 + Cu % x 37.20 + Pb% x 14.82 + Ag(oz/t) x 5.525 + Au(oz/t) x 420.0

Recoveries used in the calculation are based on metallurgical testing of drill core undertaken by Lakefield Research on behalf of Westmin Resources Limited on samples of mineralization.

Based on the geometry and depth of the mineralized veins in the deposit, underground mining methods would be employed to extract the resource - likely shrinkage or sublevel stoping. If ground conditions are weak, then a cut-and-fill mining method may be necessary. The estimated costs for mining, processing and other onsite costs are estimated to be US$85 per ton based on costs at similar sized operations as envisioned at the Blue Moon deposit.

In the next quarter, Savant will seek a partner for the Blue Moon project with US underground mining and permitting experience with capability to move the project forward into the scoping study and feasibility study stages.

The Blue Moon property consists of 520 acres of patented and unpatented mineral claims and mineral rights on Spanish Land Grant lands. Savant holds 100% interest in the Blue Moon property subject to two 1% NSR royalties on the Red Cloud 1 to 8 claims, both capped at $700,000, a 10% NPI on the entire property held by Colony Pacific and a 0.5% NSR capped at $500,000 held by Boliden Westmin (Canada).

The resource estimate reported in this press release was produced by Gary Giroux, P. Eng. MASc and Robert J. Morris, MSc. PGeo. who are Qualified Persons as defined by NI 43-101 and are responsible for the technical material contained in this News Release. As required by NI 43-101 regulations, the resource estimate will be filed on SEDAR in its entirety within 45 days following the date of this press release.

This press release contains forward-looking statements concerning the mineralization at and the potential of the Blue Moon Project. 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.

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