Savant Explorations Ltd.
TSX VENTURE : SVT

Savant Explorations Ltd.

April 05, 2011 09:15 ET

Savant Intersects 6.16 gpt Gold Over 6.5 Metres in a Previously Unknown Vein System on the McWatters Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2011) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce that deepening of drill-hole MCW-10-03 beyond the JKL Veins intersected a broad sulphide mineralized vein system at a point about 600 metres west of the McWatters Mine workings. Savant interprets this to be a new gold zone grading 6.16 gpt Au over a core length of 6.5 metres including, in contiguous successive intervals: 8.74 gpt Au over 1.15 metres, 9.03 gpt Au over 1.35 metres, 5.84 gpt Au over 1.15m, 0.782 gpt Au over 0.65 metres, 0.126 gpt Au over 1.0 metres and 8.70 gpt Au over 1.20 metres. 

This new deeper gold intercept occurs in an area of sparse historic drilling and is located along the structural trend from the past producing McWatters Mine and over one km east of the western boundary of the property. The mineralized structure, based on Savant's current combined geologic and geophysical interpretations, suggest it to be open along strike in both directions.

Drill-hole MCW-10-03 was drilled to test for an inferred possible western extension of the main McWatters Vein system. It was drilled at an angle of -50 degrees and intersected the vein system at approximately 500 metres down-dip from the projection to surface of the veining intersected at a vertical depth of 390 metres. Drill-hole MCW-11-04 drilled at a dip of -70 degrees from the same collar as MCW-10-03 cut what Savant believes to be the down-dip extension of the MCW 10-03 vein system at a down-dip distance of 200 metres from the intersection in MCW-10-03. In this deeper intercept, the veining and sulphide mineralization are present with low, but anomalous gold values. Drill-holes MCW-10-01 and MCW-10-02, which were tests of the JKL Zone, stopped short of the newly discovered zone referred to as the G Zone.

Drilling results from the JKL and 702 Zones, the primary targets of this initial phase of drilling, were also promising. Savant's drilling shows both zones remain open at depth with significant gold values (see table below).

Initial drilling at the 702 Zone has also led to the discovery of significant gold mineralization, apparently unrecognized or undocumented from historic drilling. Drill-hole McW-11-06 returned 4.52 gpt gold over 8.15 metres from 234.85 to 243.0 metres including 9.39 gpt gold over 1.0 metres and 17.75 gpt gold over 1.5 metres at a vertical depth of 205 metres. This intercept tentatively correlates well geologically and structurally with the intercept of 5.26 gpt gold over 0.50 metres from 223.75 to 224.25 in hole McW-11-05, located 120metres west of MCW 11-06 both of which are positioned in a stratigraphic location very similar to the JKL Zones located 800 metres to the east. 

Drill Hole Zone From To Vertical Depth Core Length Grade (gpt)
MCW-10-01 JKL 216.80m 217.30m 160m 0.50m 2.48
MCW-10-02 JKL 243.00m 244.20m 210m 1.20m 8.88
  JKL 255.00m 256.80m 220m 1.80m 2.11
  JKL 372.90m 373.80m 320m 0.90m 2.55
MCW-10-03 JKL 201.05m 201.60m 150m 0.55m 58.5
  G 535.50m 542.00m 390m 6.50m 6.16
  includes 535.50m 536.65m   1.15m 8.74
  includes 536.65m 538.00m   1.35m 9.03
  includes 538.00m 539.15m   1.15m 5.84
  includes 539.15m 540.80m   1.65m 0.39
  includes 540.80m 542.00m   1.20m 8.70
MCW-11-04 L 191.00m 192.00m 165m 1.00m 5.27
  JK 250.45m 251.35m 240m 0.90m 2.61
  JK 253.30m 254.40m 240m 1.10m 2.37
  G 556.00m 560.50m 510m 4.50m 0.20
MCW-11-05 "JKL ext" 223.75m 224.25m 195m 0.50m 5.26
  702 363.90m 365.50m 320m 1.60m 7.33
MCW-11-06 "JKL ext" 234.85m 243.00m 205m 8.15m 4.52
  includes 235.85m 236.85m   1.00m 9.39
  includes 241.50m 243.00m   1.50m 17.75
  702 348.80m 350.30m 310m 1.50m 2.42
 
*Core length approximates true thickness

Savant has now received the majority of the assays from the recently completed drill program. The results of some infill sampling are pending.

The McWatters Property covers 4.0 km of strike length along the Cadillac-Larder Lake Break and includes the past-producing McWatters Mine, and two diluted historical resources of 235,000 tonnes grading 6.6 gpt gold and 170,000 tonnes grading 5.0 gpt 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.

Savant has an option to acquire a 100% interest in the McWatters Property (See Savant press November 9, 2010 for details).

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 AlsChemex sample collection service from Savant's core sampling facility in Noranda and delivered to ALS Chemex Labs in Val d'Or, Quebec. Samples are ground and 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 blanks and reference accredited low and high grade gold 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 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.

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