SAS reports significant intercepts at its Hislop North Project and additional results from the Ghost and Smoke Deep targets
Hislop returns 10.22 g/t Au over 24.0 metres including 11.91 g/t over
8.5 metres and including 23.22 g/t Au over 5.9 metres
TORONTO, Dec. 10, 2012 /CNW/ – St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), (“SAS” or the “Company”) is pleased to announce drilling results from
the Ghost Zone (“Ghost”), located near the Holt Mine, the Hislop North Project (“Hislop North”), northwest of the Hislop Mine and underground drilling east of the
Smoke Deep Zone (“Smoke Deep“) at the Holloway Mine.
HIGHLIGHTS OF DRILLING RESULTS:
Hislop North Project
- H12-015: 4.45 g/t Au over 9.0 metres - H12-019: 17.70 g/t Au over 1.2m Including 32.00 g/t Au over 0.5 metres - H12-024: 0.87 g/t Au over 28.7m Including 0.97 g/t Au over 19.5 metres - H12-029 : 5.31 g/t Au over 6.1 metres and 10.22 g/t Au over 24.0m Including 11.91 g/t Au over 8.5 metres
- GZ12-028: 5.30 g/t Au over 3.6 metres - GZ12-035: 12.20 g/t Au over 1.4 metres Smoke Deep Zone - 780-748: 6.82 g/t Au over 9.6 metres - 780-750: 5.30 g/t Au over 14.8 metres
Notes: All lengths reported at Hislop North and Smoke Deep are reported as core length as true width is not available at this time. Ghost intercepts are reported as true width. High grade assays at Ghost and Hislop are capped at 32.00 g/t Au, high grade assays at Smoke Deep are capped at 25.00 g/t Au.
“Our exploration programs continue to return positive and encouraging
results”, said Jacques Perron, President & CEO of SAS. “We are happy
with the recent results from the near-mine targets and believe these
new zones of mineralization will benefit our resources at year end.
With continued drilling in 2013, we are confident we will be able to
continue to increase resources and extend the mine life at our
Hislop North Project
At the end of the second quarter, SAS added a second surface drill to
accelerate its efforts at Hislop North. Drilling continues to return
anomalous gold grades over significant widths including drill hole
H12-029 which returned the highest grade drill intercept on the Hislop
Property to date.
Recent intersections include H12-015 which returned 4.45 g/t Au over 9.0
metres hosted within a brecciated albitic mafic volcanic with
significant quartz veining. Hole H12-019 returned 17.70 g/t Au over
1.2 metres which was significant as it has effectively confirmed the
presence of a second zone of mineralization situated approximately 500
metres southwest of the 147, Grey Fox South and Hislop North trend (See
Figure 1). Hole H12-029 returned 10.22 g/t Au over 24.0 metres
including 11.91 g/t Au over 8.5 metres and 23.22 g/t Au over 5.9
metres, and hole H12-024 returned 0.87 g/t Au over 28.7 metres which
intercepted a zone of broad lower grade anomalous mineralization
situated in the northeast corner of the claim block.
Expansion of the mineralization remains open in all directions and the
Company plans to continue drilling on this target for the remainder of
the year. SAS recently completed a series of geophysical surveys over
the Hislop North area consisting of both ground magnetics and borehole
and ground Induced Polarization (IP) surveys. Aggressive follow-up on
these recent drill results and geophysical targets is in progress at
Refer to “Fig 1.HislopNorth-PlanView_DEC2012″, for plan view of
currently reported drill intercepts.
Highlights from the recent program are summarized in the table below:
Hislop North 2012 Surface Drilling Program
________________________________________________________________________________ | | UTM (NAD27) | Degrees |Intersection| (Metres) | | | | | | (Metres) | |Gold | | Hole |__________________________|___________|____________|____________|Grade| | Number | | | |Azimuth| | | To | Core |True | | | |Easting|Northing|Elevation| |Dip|From | |Length|Width|(g/t)| | | | | | | | | | | | | | | | | | | | | | | | | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-015|552100 |5371810 | 290 | 260|-50|46.5 | 55.5 | 9.0 | ND |4.45 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |46.5 | 49.3 | 2.8 | ND |9.11 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-019|551400 |5371400 | 303 | 212|-65|96.6 | 97.8 | 1.2 | ND |17.70| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |96.6 | 97.0 | 0.5 | ND |32.00| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-021|552250 |5371916 | 300 | 260|-50|533.2|540.0 | 6.8 | ND |3.73 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |535.8|536.5 | 0.7 | ND |22.15| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-024|552600 |5372200 | 300 | 205|-60|536.1|564.8 | 28.7 | ND |0.87 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |545.3|564.8 | 19.5 | ND |0.97 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-029|552165 |2971875 | 300 | 260|-50|151.4|157.4 | 6.7 | ND |5.31 | |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | And| | | | | |363.4|387.4 | 24.0 | ND |10.22| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |363.4|372.0 | 8.5 | ND |11.91| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| |Including| | | | | |381.5|387.4 | 5.9 | ND |23.22| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____| | H12-030|552200 |2371800 | 290 | 260|-50|155.1|155.7 | 0.6 | ND |24.20| |_________|_______|________|_________|_______|___|_____|______|______|_____|_____|
Notes: All lengths are reported as core length as true width is not available at this time: All high grade assays capped at 32.00g/t.
Drilling at Ghost continues to return anomalous values along the
Ghostmount Fault to the east of the main zone. The expansion drilling
is significant due to the close proximity to the underground workings
at the Holt mine. This is important for the long term development of
the Holt property as it opens another mining front which could
provide additional high grade ounces independent of the current mining
Ghost has been traced to approximately 400 metres east of the current
underground workings at the Holt Mine and has a current strike length
of approximately 750 metres (see press release dated July 31, 2012,
available under the Company’s profile on SEDAR at www.sedar.com or on the Company’s website at www.sasgoldmines.com).
Results from the recent round of drilling include GZ12-028 which
returned 5.30 g/t Au over 3.6 metres, and GZ12-035 which returned 12.20
g/t Au over 1.4 metres, and is situated approximately 1.2 km east of
the known extent of the Ghost mineralization, and displays similar
geological and grade tenor to the mineralization within the Ghost
The Ghost mineralization remains open both up and down dip, with
drilling continuing to test the extensions along strike. An updated
resource for Ghost is planned by yearend, once all drilling is
Refer to “Fig 2.GhostZone-LongSection_DEC2012″, for plan view of
currently reported drill intercepts.
Highlights of the recent drilling program are summarized in the table
Ghost Zone 2012 Surface Drilling Program
_______________________________________________________________________________ | | Holt Mine Grid | Degrees |Intersection| (Metres) | | | | | | (Metres) | |Gold | | Hole|__________________________|___________|____________|____________|Grade| | Number| | | | | | | | Core |True | | | |Easting|Northing|Elevation|Azimuth|Dip|From | To |Length|Width|(g/t)| | | | | | | | | | | | | | | | | | | | | | | | | |________|_______|________|_________|_______|___|_____|______|______|_____|_____| |GZ12-028| 11933 | 9496 | 4990 | 1 |-69|469.0|474.4 | 5.4 | 3.6 |5.30 | |________|_______|________|_________|_______|___|_____|______|______|_____|_____| |GZ12-030| 11895 | 9421 | 4991 | 351 |-69|543.4|544.7 | 1.3 | 0.8 |7.05 | |________|_______|________|_________|_______|___|_____|______|______|_____|_____| |GZ12-035| 13784 | 9609 | 4984 | 350 |-63|426.7|428.1 | 1.4 | 1.4 |12.20| |________|_______|________|_________|_______|___|_____|______|______|_____|_____|
Notes: All lengths are reported as true width. All high grade assays capped at 32.00g/t.
Smoke Deep Zone
Underground drilling east of Smoke Deep commenced earlier this year to
test the possible eastern and down dip extension of the zone from the
underground drift on the 780m Level elevation ramp. The drill program
was successful, and continued to extend Smoke Deep along strike and
further to the east. This drilling has effectively extended the known
mineralized strike length of the Smoke Deep deposit by 50 metres to a
total strike length of 450 metres.
The zone remains open both at depth and along strike to the east. A new
zone, discovered in the hanging wall of Smoke Deep has also recently
been identified. SAS is extending the exploration drift further to the
east of the hanging wall zone by approximately 70 metres. Drilling is
in progress both from underground, and from surface to test for the
mineralized extensions further to the east and at depth.
Refer to “Fig 3.SmokeDeepZone-LongSection_DEC2012″, for plan view of
currently reported drill intercepts.
Recent drill results for Smoke Deep are summarized in the table below.
Smoke Deep 2012 Underground Drilling Program
________________________________________________________________________________ | | Holloway Mine Grid | Degrees |Intersection| (Metres) | | | | | | (Metres) | |Gold | | Hole|__________________________|___________|____________|____________|Grade| | Number| | | | | | | | Core |True | | | |Easting|Northing|Elevation|Azimuth|Dip|From| To |Length|Width|(g/t)| | | | | | | | | | | | | | | | | | | | | | | | | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | 780-747|7154.74| 4553.16| 2448 | 29 |-25|28.9| 33.1 | 4.2 | ND |9.23 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | And| | | | | |51.9| 53.5 | 1.6 | ND |4.73 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | 780-748|7154.74| 4553.16| 2448 | 29 |-45|41.2| 42.9 | 1.7 | ND |8.13 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | And| | | | | |47.0| 56.6 | 9.6 | ND |6.82 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | 780-749|7162.41| 4551.81| 2448 | 58 |45 |26.2| 27.4 | 1.2 | ND |3.91 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | And| | | | | |34.4| 39.8 | 5.4 | ND |5.36 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | 780-150|1762.41| 4551.81| 2448 | 58 |10 |24.6| 39.4 | 14.8 | ND |5.30 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| |Including| | | | | |32.4| 36.4 | 4.0 | ND |10.44| |_________|_______|________|_________|_______|___|____|_______|______|_____|_____| | 780-751|7165.41| 4551.81| 2448 | 58 |-20|48.5| 57.3 | 8.8 | ND |3.46 | |_________|_______|________|_________|_______|___|____|_______|______|_____|_____|
Notes: All lengths are reported as core length as true width is not available at this time: All high grade assays capped at 25.00g/t.
Drilling, Assaying and QA/QC
Surface drilling was conducted by Forage Orbit Garant Drilling Services
Inc. Analytical work for the Ghost Zone was performed by Laboratoire
Expert Inc., located in Rouyn-Noranda, QC, and analytical work for the
Hislop North Project was performed by Agat Labs Limited, in
Mississauga, ON, both accredited labs. Underground drilling at Smoke
Deep is performed by Boreal Drilling and analytical work is performed
at the company’s Holt mine assay laboratory. SAS employs an industry
accepted QC /QA program consisting of certified reference standards and
blanks that are inserted into the sample stream, which represent
approximately 5% of the total sample population.
The exploration programs on the Company’s various mineral properties are
under the supervision of Doug Cater, P. Geo, the Company’s VP,
Exploration. Mr. Cater is a qualified person as defined by NI 43-101,
and has reviewed and approved this news release.
SAS (operating as “SAS Goldmines”), is a gold mining and exploration
company with an extensive land package in the Timmins mining district,
north-eastern Ontario, which lies within the Abitibi greenstone belt,
the most important host of historical gold production in Canada.
SAS owns and operates the Holt, Holloway and Hislop mines and is
forecasting 2012 production of between 90,000 – 100,000 ounces of gold.
The Company is also advancing the Taylor Project and is conducting an
aggressive exploration program across 120km of land straddling the
Porcupine-Destor Fault Zone.
This news release contains forward-looking information and
forward-looking statements (collectively, “forward-looking
information”) under applicable securities laws, concerning the
Company’s business, operations, financial performance, condition and
prospects, as well as management’s objectives, strategies, beliefs and
intentions. Forward-looking information is frequently identified by
such words as “may”, “will”, “plan”, “expect”, “estimate”,
“anticipate”, “believe”, “intend” and similar words referring to future
events and results, including in respect of the extent and objectives
of the Company’s exploration programs for the balance of 2012 and the
potential effect on the Company’s level of mineral resources and
mineral reserves at year end.
This forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those expressed or implied by the forward-looking
information. Factors that may cause actual results to vary materially
include, but are not limited to, unanticipated operational or technical
difficulties which could escalate operating and/or capital costs and
reduce anticipated production levels; uncertainties relating to the
interpretation of the geology, continuity, grade and size estimates of
the mineral reserves and resources; fluctuations in gold prices and
exchange rates; operational hazards and risks; compliance with
applicable government regulations, including the ability to obtain
requisite permits and licenses; dependence on key employees and changes
in general economic conditions and changes in conditions in the
financial markets. Such forward looking information is based on a
number of assumptions, including but not limited to the level and
volatility of the price of gold, the ability to achieve capital and
operating cost estimates, the accuracy or reserve and resource
estimates and the assumptions upon which such estimates are based, the
continued availability of qualified personnel, and the sufficiency of
the Company’s cash reserves and operating cash flow to complete planned
development and exploration activities. Should one or more risks and
uncertainties materialize or should any assumptions prove incorrect,
then actual results could vary materially from those expressed or
implied in the forward-looking information and accordingly, readers are
cautioned not to place undue reliance on this forward-looking
information. SAS does not assume the obligation to revise or update
this forward looking information after the date of this release or to
revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws. A description of these risks and uncertainties are can
also be found in the Company’s Annual Information Form obtained on
SEDAR at www.sedar.com.
SOURCE St Andrew Goldfields Ltd.
Image with caption: “Fig1.HislopNorth-PlanView_DEC2012 (CNW Group/St Andrew Goldfields Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20121210_C7403_PHOTO_EN_21703.jpg
Image with caption: “Fig2.GhostZone-LongSection_DEC2012 (CNW Group/St Andrew Goldfields Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20121210_C7403_PHOTO_EN_21704.jpg
Image with caption: “Fig3.SmokeDeepZone-LongSection_DEC2012 (CNW Group/St Andrew Goldfields Ltd.)”. Image available at: http://photos.newswire.ca/images/download/20121210_C7403_PHOTO_EN_21702.jpg