/C O R R E C T I O N -- St Andrew Goldfields Ltd./

Please note that in c8576 sent yesterday, June 23, 2011 at 8:00 ET, an error occurred in the Highlights of Drilling section. The first interval was reported as TA11-01 15.85g/t Au and should have been TA-011 5.85g/t Au. Correct copy follows:

ACCELERATED DRILLING PROGRAM AT THE TAYLOR PROJECT INTERSECTS SIGNIFICANT GRADES

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 24, 2011 /CNW/ - St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce additional results from the ongoing definition drilling program at the Taylor Project that continues to return encouraging results. The Taylor Project is located in the western portion of the Company's land package in the Timmins Mining District.

Highlights of Drilling:

  • Hole TA11-011
    Including
  • Hole TA11-014
    Including
  • Hole TA11-015
    Including

        5.85 g/t Au over 21.6 metres
122.50 g/t Au over 0.5 metres
12.22 g/t Au over 8.4 metres
155.00 g/t Au over 0.5 metres
43.10 g/t Au over 6.0 metres
185.50 g/t Au over 0.5 metres

Note:  All lengths are reported as true width

The current drilling program is focussed on further delineation of the West Porphyry Zone and is designed to provide additional data in areas where previous drilling was widely spaced, thereby providing higher confidence in defining the gold distribution. The infill drilling program is expected to continue throughout the summer and with this information, the Company will be able to complete the assessment of various mining and processing scenarios as part of an ongoing prefeasibility study expected towards the end of this year.

The recent drilling results are consistent with results obtained from previous drilling and confirm the characteristics of the mineralization as illustrated in figure http://files.newswire.ca/976/TA-LongSection-23.jpg. In addition, drilling continues to intersect the recently discovered Footwall Zone that occurs stratigraphically beneath the known West Porphyry Zone, see attachments http://files.newswire.ca/976/TA-CrossSection_A-23.jpg, and http://files.newswire.ca/976/TA-CrossSection_B-23.jpg. Selected results from the ongoing drilling campaign are summarized in the table below:

Summary of Taylor 2011 Drilling Program - Phase II
  Intersection (Metres) True Width Gold Grade
Hole Number From To Metres Grams per Tonne (g/t)
TA11-008 387.3 390.5 3.2 7.92
  including 390.0 390.5 0.5 36.70
TA11-009 109.2 109.7 0.5 10.40
TA11-009 219.5 240.6 21.1 2.08
  including 239.3 240.5 1.2 8.99
TA11-011 114.0 135.6 21.6 5.85
  including 114.0 114.7 0.7 44.70
  including 135.1 135.6 0.5 122.50
TA11-012 268.5 269.3 0.8 6.64
TA11-012 298.0 300.7 2.7 3.37
TA11-013 139.7 152.2 12.5 2.63
  including 151.5 152.2 0.7 25.80
TA11-013 334.0 336.5 2.5 9.36
  including 335.5 336.5 1.0 16.73
TA11-013 398.4 400.6 2.2 10.41
  including 400.1 400.6 0.5 34.30
TA11-014 374.6 383.0 8.4 12.22
  including 378.1 379.1 1.0 95.67
  Including 378.1 378.6 0.5 155.00
TA11-0141   433.4 434.5 1.1 18.20
TA11-0152   352.5 358.5 6.0 43.10
  including 352.5 353.5 1.0 66.85
  including 353.0 353.5 0.5 96.60
  including 356.5 358.0 1.5 121.37
  including 357.0 357.5 0.5 185.50
TA11-015 376.1 378.0 1.9 26.58
  including 376.1 377.0 0.9 45.60

Note:  All lengths are reported as true width,  Visible Gold observed in all holes

1 Footwall Zone
2 Screen fire assays pending

"We are very pleased with the progress of the drill program at Taylor," said Jacques Perron, President & CEO of SAS. "These recent results confirm the presence of higher grade lenses within the deposit. The ongoing drill program will provide an improved understanding of the gold distribution, which will be incorporated into future studies as we advance this project towards development."

Drilling, Assaying and QA/QC
Surface drilling at the Taylor Project was completed by Orbit Garant. Analytical work was performed by ALS Minerals 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 group of samples, which represented approximately 5% of the total sample population.

Qualified Person
The exploration programs on the Company's various mineral properties are under the supervision of Michael Michaud, P.Geo, the Company's Vice President of Exploration, who is the qualified person as defined by NI 43-101, and who 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 three producing mines and aggressive exploration activities across 120km of land straddling the Porcupine-Destor Fault Zone.

FORWARD-LOOKING INFORMATION

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. Specifically this news release contains forward-looking information regarding the interpretation of exploration results received to date from the Taylor Project, the continuance of additional exploration programs on this project throughout 2011 and the completion of a prefeasibility study on the Project. 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, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of the mineral resources, unanticipated operational or technical difficulties which could escalate operating and/or capital costs, fluctuations in gold prices and exchange rates, insufficient funding or delays or inability to raise additional financing as required on satisfactory terms, changes in laws or regulations, 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 accuracy of resource estimates and the assumptions on which such estimates are based, the ability to achieve capital and operating cost estimates, the sufficiency of the Company's cash flows and reserves to achieve its exploration objectives, the ability to attract and maintain adequate skilled personnel to operate its mines and to conduct its exploration programs, and no significant decline in general business and economic conditions. 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. 

 

 

 

SOURCE St Andrew Goldfields Ltd.

For further information:

about St Andrew Goldfields Ltd., please contact:
Tel: 1-800-463-5139 or (416) 815-9855; Fax: (416) 815-9437; Website: www.sasgoldmines.com 

                              Suzette N Ramcharan
Manager, Investor Relations
Email: sramcharan@sasgoldmines.com

Jacques Perron
President & CEO
Email:jperron@sasgoldmines.com
                          Ben Au
CFO, VP Finance & Administration
Email:bau@sasgoldmines.com

 

Profil de l'entreprise

St Andrew Goldfields Ltd.

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