Savant Explorations Ltd. Acquires Two Properties Totalling 339.46 Square Kilometres in the Santa Eulalia-Bismark Sector of Mexico’s Polymetallic Carbonate Replacement Belt
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 9, 2008) – Savant Explorations Ltd. (TSX VENTURE:SVT) (“Savant”) is pleased to announce that it has acquired by staking two wholly owned exploration properties located in the State of Chihuahua midway between the producing Bismark silver/zinc mine, 170 km to the NW and the producing Santa Eulalia silver/lead/zinc mining district 165 km to the SE. These readily accessible properties include the La Morena concession of 218.28 square kilometres and the La Mojina concession of 121.18 square kilometres which are separated E-W by 45 km along Highway 10 located 150 km north of the city of Chihuahua, the state capital. Together with the recently optioned Vinata Property, Savant now holds 462.46 square kilometres of property in the Chihuahua portion of the Polymetallic Carbonate Replacement District of Mexico.
The La Morena Concession covers a large untested area of Tertiary andesite flows and ignimbrites on trend from a number of steeply dipping silver/lead/carbonate and manganese bearing veins hosted by Tertiary volcanic rocks located on smaller lots (70-272 ha each) held by others within the La Morena boundaries. An assay from a grab sample taken by Savant’s VP Exploration, ing Richard Cote, of material from one of the vein occurrences known as the Salem Vein, returned values of 26 gpt silver, 3.35% lead, 0.28% zinc, 0.23% copper, 1,270ppm manganese. Savant believes this mineralization is indicative of high level seepage from a larger replacement body of polymetallic sulphides in the limestone unit lying beneath the volcanic cover.
The La Mojina Concessions covers the projected covered extension of the prospective Cretaceous Aurora Formation limestone which elsewhere, hosts the large ore deposits of the Bismark, Naica and Santa Eulalia mines. The adjacent exposure of limestone units hosts two small past producing manganese/silver/lead producers known as El Socorro and La Mojina mines. A rock sample taken by ing Richard Cote from the old workings at El Socorro manto/vein occurrence, assayed 31 gpt silver, 0.31 gpt gold, 3.17% lead and 0.87% zinc. The La Mojina Property is also located 40 km SE along trend from Mag Silver Corporation’s Cinco de Mayo active drill project where higher grade intercepts are reported to include 254 gpt silver, 6.4% lead, 7.0% zinc over 6.8 m and 612 gpt silver, 11.6% lead, 13.2% zinc over 3.46 m (see Mag Silver press releases dated respectively February 7, 2008 and July 9, 2008).
Savant’s land acquisition strategy and exploration program is designed to locate and test prospective targets for large carbonate replacement deposits (CRD) comprised of limestone hosted mantos, chimneys and intrusion related mineralization similar to the producing Santa Eulalia and Naica mines (respectively 165 km SE and 250 km SE of La Mojina) where published past production figures are respectively estimated at 50 million tonnes grading 315 gpt silver, 8.5% lead, 7.5% zinc, 0.3% copper with tin and gold credits and 25 million tonnes grading 155 gpt silver, 5.5% lead, 4.3% zinc and 0.4% copper.
John McClintock, president of Savant, commented that this new land acquisition is a further step in Savant’s aggressive plan to build a large land package of highly prospective polymetallic properties in Mexico’s Carbonate Replacement Deposits (CRD) Belt, well known for its large tonnage, high unit value ores, as currently being mined from some of Mexico’s largest lead/zinc/silver/(copper) deposits including Bismark (Chihuahua State), La Paz (San Luis de Potosi State) and Charcas (San Luis de Potosi State). Savant’s Technical Team has identified additional targets for acquisition and we expect to make more ground acquisitions over the next couple of months.
Initial exploration of the property including geological mapping and geophysical surveys to define targets for a subsequent drill program is planned for early in the fourth quarter of 2008.
John McClintock, P. Eng, President of Savant Explorations Ltd. and Richard Cote, ing, Vice President Exploration are the Qualified Persons, as defined by National Instrument 43-101, responsible for the technical data in this news release.
This press release contains forward-looking statements concerning the mineralization at and the potential of the La Mojina and La Morena Projects. 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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