SAS completes current phase of definition drilling program at Taylor

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

TORONTO, Sept. 12, 2011 /CNW/ - St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce that it has completed the current phase of the definition drilling program at the Taylor Project. The Company intends to update the mineral resources for the West Porphyry Zone in the near future and is on track to complete a prefeasibility study by year end. The Taylor Project is located in the western portion of the Company's land package in the Timmins Mining District.

Highlights of Latest Drilling:

- Hole TA11-025A  39.79 g/t Au over 1.4 metres
- Hole TA11-026  18.45 g/t Au over 2.0 metres
- Hole TA11-029  34.94 g/t Au over 5.8 metres
  including   117.00 g/t Au over 1.2 metres

Note:  All lengths are reported as true width

These recent results have continued to provide greater confidence in the continuity of the gold mineralization and are in agreement with previous drilling having intersected similar grades and widths as illustrated in the attached cross sections and 3D image. The Company will now compile all of the drilling data and prepare an updated mineral resource estimate for the West Porphyry Zone. See attachments, "TA-3DModel-Sept11.jpg", "TA11-024-CrossSection.jpg", "TA11-025A-CrossSection.jpg", "TA11-026-CrossSection.jpg", "TA11-027-CrossSection.jpg", "TA11-028-CrossSection.jpg", "TA11-029-CrossSection.jpg", and "TA11-030-CrossSection.jpg" included in the PDF version of this release, or available under the Photo Gallery on the Company's website.

The West Porphyry Zone is comprised of a series of lenses within favourable horizons as shown on the 3D Model and on the cross sections represented by the coloured shapes. This interpretation is based on geology, alteration and mineralization; and not solely based on assay results. The current interpretation is based on drill data received to date and is subject to change as additional data is received.

Selected results from the most recently completed drill holes 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 Au)
TA11-024 440.4 443.8 3.4 6.46
TA11-024 459.4 461.4 2.0 9.05
TA11-025A 194.0 195.4 1.4 39.79
TA11-026 427.0 429.0 2.0 18.45
TA11-027 472.8 473.3 0.5 36.40
TA11-028 329.0 331.0 2.0 22.22
TA11-029 315.4 321.2 5.8 34.94
  including 316.0 317.2 1.2 117.00
TA11-029 391.5 394.3 2.8 11.38
TA11-030 454.0 462.3 8.3 3.14

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

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 exploration results received to date from the Taylor Project, the completion of an updated resource estimate on the West Porphyry Zone and the completion of a prefeasibility study on the Taylor 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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