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St Andrew Goldfields Ltd

Publié le 23 mars 2011

DRILLING AT GARRISON CREEK CONTINUES TO EXPAND ZONES OF GOLD MINERALIZATION

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St Andrew Goldfields drilling at garrison creek continues to expand zones of gold mineralization

 

 

 

 

 

 

 

St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce exploration results from the Garrison Creek Project, where recent drilling has continued to extend the zone of gold mineralization. The Garrison Creek Project is located in the Timmins Mining District, approximately 20 kilometres due west of the Holloway-Holt Mine and is 90% owned by the Company and 10% by Goldcorp (Canada) Inc.

 

Highlights:


Syenite Target

-

Hole GC10 - 018

0.93 g/t Au over 46.1 metres

including

7.92 g/t Au over 3.5 metres

-

Hole GC10 - 021

0.95 g/t Au over 33.6 metres

including

19.40 g/t Au over 0.65 metres

Porcupine-Destor Fault Zone ("PDFZ") Target

-

Hole GC10 - 020

1.15 g/t Au over 89.5 metres

including

3.20 g/t Au over 20.0 metres

During 2010, SAS commenced a surface drilling program on the Garrison Creek Project ("Garrison Creek") to assess a number of conceptual targets and/or where limited historical exploration returned encouraging results. The targeted rocks are situated within the Garrison Fault zone, a northwest-striking structure that cross-cuts lithological units and earlier regional structures. Initial drilling in 2010 revealed high gold grades associated with abundant quartz veins within a much wider, prospective zone of alteration and lower grade gold mineralization. To date, the most significant drilling has intersected sheared and heavily veined syenite with hole GC10-06 returning 0.81 g/t Au over 187.6 metres; which includes a central higher grade zone averaging 4.42 g/t Au over 22.9 metres (see press release dated September 15, 2010, available under the Company's profile on SEDAR at www.sedar.com or on the SAS website at www.sasgoldmines.com).

 

Recent drilling has continued to extend this intermittent zone of lower grade mineralization, with associated higher grade, narrow sections, over a strike length of approximately 250 metres and from surface to a vertical depth of 500 metres. Recent drilling returned 0.93 g/t Au over 46.1 metres (including 7.92 g/t Au over 3.5 metres) in hole GC10-018; and 0.95 g/t Au over 33.6 metres (including 19.40 g/t Au over 0.65 metres) in hole GC10-021. Based on a reinterpretation of the geophysical data, the drilling is being focussed on east-west trending geological structures that crosscut the syenite body and could represent "feeder" structures that could be host to elevated concentrations of gold. Drilling also continues along strike of the Garrison Fault, within the syenite where aeromagnetic surveys suggest there exists 600 metres or more of strike length that remains untested.

 

Limited drilling on the second target near to the PDFZ has returned 3.20 g/t Au over 20 metres, within a zone that returned 1.15 g/t Au over 89.5 metres in drill hole GC10-020. The mineralization is hosted within strongly sheared and heavily altered ultramafic metavolcanic rocks that are cross-cut by syenite dykes. Drill hole GC11-001 tested down dip of the intercept in GC10-020 and has so far returned 0.68 g/t Au over 27.7 metres, with further assays pending. The encouraging results from those two drill holes lie 200 metres along strike from drill hole GC10-003 that returned 35.5 g/t Au over 1.5 metres (see press release dated September 15, 2010, available under the Company's profile on SEDAR at www.sedar.com or on the SAS website at www.sasgoldmines.com) and also 50 metres along strike from historical drill hole 46-16 that returned 2.49 g/t Au over 13.2 m. Further drilling will be designed to test the continuity of those shallow intercepts both down dip and along strike of GC10-020.

 

Significant intercepts from the most recent drilling completed to date are summarized below.

Summary of Garrison Creek Drilling Program (Recent Drilling)

Intersection (Metres)

Core Length

Gold Grade

Hole Number

From

To

Metres

Grams per Tonne (g/t)

GC10 - 018

516.4

562.5

46.1

0.93

including

535.5

539.0

3.5

7.92

GC10 - 020

75.5

165.0

89.5

1.15

including

107.5

127.5

20.0

3.20

GC10 - 021

474.9

508.5

33.60

0.95

including

474.9

475.5

0.7

19.40

GC10 - 023C

376.5

385.5

9.0

1.03

GC10 - 024

254.0

255.5

1.5

6.01

GC10 - 024

355.0

355.6

0.6

26.20

GC10 - 025

132.0

156.0

24.0

0.68

GC10 - 025

273.0

274.5

1.5

3.98

GC11 - 001

150.0

177.7

27.7

0.68

Note: All lengths are reported as core length as true width is not available at this time

 

"We are pleased with the progress of the ongoing exploration program at the Garrison Creek Project, our most grass roots exploration target being worked thus far", said Jacques Perron, President & CEO of SAS. "We will continue to test this area in 2011 with a planned drilling program consisting of 9,500 metres of drilling in order to identify areas of elevated gold grades over significant widths."

 

Drilling, Assaying and QA/QC
Surface drilling at the Garrison Creek Project was completed by Orbit Garant Drilling Inc. Analytical work was performed by SGS Laboratories in Sudbury, an accredited lab. SAS utilized a quality control/quality assurance program consisting of a number of sample standards and blanks that were inserted into the sample string, which represented approximately 5% of the total sample population.

 

Qualified Person
The exploration program on the Company's various mineral properties are under the supervision of Michael Michaud, P.Geo, the Company's Vice President of Exploration. Mr. Michaud is SAS' qualified person as defined by NI 43-101, and has reviewed and approved this news release.

 

About SAS
SAS (operating as "SAS Goldmines") is a gold mining and exploration company with an extensive land package in the Timmins mining district, northeastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada. SAS is focussed on developing its assets in the Timmins Camp, with current and near-term production and exploration activities across its 120km land package straddling the Porcupine-Destor Fault Zone.

 

 

 

 

 

 

 

 

 

 

 

 

St Andrew Goldfields Ltd

PRODUCTEUR
CODE : SAS.TO
ISIN : CA7871885074
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St Andrew Goldfields est une société développant des projet miniers d'or basée au Canada.

St Andrew Goldfields détient divers projets d'exploration au Canada.

Ses principaux projets en production sont CLAVOS et HOLLOWAY au Canada, ses principaux projets en développement sont HISLOP et HOLT MINE & MILL au Canada et ses principaux projets en exploration sont TAYLOR, AQUARIUS, TIMMINS GUIBORD et GARRISON CREEK au Canada.

St Andrew Goldfields est cotée au Canada. Sa capitalisation boursière aujourd'hui est 165,7 millions CA$ (153,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 25 février 2000 à 9,60 CA$, et son plus bas niveau récent le 24 octobre 2008 à 0,07 CA$.

St Andrew Goldfields possède 368 269 984 actions en circulation.

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