Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

August 10, 2011 09:25 ET

Savant Intercepts Show Continuity of Near Surface Gold Mineralization on its Parbec Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2011) - 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

Hole Number Zone From
(metres)
To
(metres)
Core length gpt gold Vertical depth
(metres)
Par-11-01 "Discovery" 52.5 76.5 24.0 1.03 60
including 55.5 57.0 1.5 4.91 59
"Discovery" 141.0 147.0 6.0 1.01 132
"Discovery" 318.0 324.0 6.0 0.95 297
Par-11-02 "Discovery" 220.5 228.0 7.5 1.45 160
including 225.0 228.0 3.0 3.05 160
Par-11-03 "# 2" 6.0 13.5 7.5 2.45 6
"# 2" 27 48.0 24.0 0.56 22
including 40.5 42 1.5 2.2 33
Par-11-04 "Discovery" 7.5 10.5 7.5 1.8 6
Par-11-04 "Discovery" 34.5 49.5 15.0 1.05 28
including 36.0 37.5 1.5 4.86 30
"Discovery" 75.4 93 17.6 0.53 57
"Discovery" 132.0 136.5 4.5 2.61 100
including 133.5 135.0 1.5 6.25 100
"Discovery" 159.0 177.0 18 1.11 120
Par-11-05 "Discovery" 53.0 60.2 22.5 1.07 37
"Discovery" 88.1 96 7.9 0.50 65
"Discovery" 111 133.5 24.0 1.02 78
including 117 118.5 1.5 4.76 85
* 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 > 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.

Contact Information