SAS DRILLING FURTHER DELINEATES GOLD MINERALIZATION AT THE TAYLOR PROJECT AND CONTINUES TO INTERSECT NEW FOOTWALL ZONE

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

TORONTO, April 14 /CNW/ - St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") is pleased to announce results from the ongoing second phase of drilling at the Taylor Project that has better delineated the gold mineralization at the West Porphyry and Shoot zones and continued to intersect a new footwall zone to the West Porphyry Zone. The Taylor Project is located in the western portion of the Company's land package in the Timmins Mining District.

Highlights of Drilling:

West Porphyry Zone

          Hole TA11-002: 7.50 g/t Au over 16.1 metres
      Including       16.17 g/t Au over 6.6 metres
          Hole TA11-003: 3.82 g/t Au over 13.6 metres
      Including       33.29 g/t Au over 0.7 metres

Shoot Zone

          Hole TA11-005:  4.33 g/t Au over 5.9 metres
      Including       27.80 g/t Au over 0.5 metres

Note:  All lengths are reported as true width

The current drilling program is designed to provide additional data in areas where previous drilling was widely spaced, thereby providing higher confidence in defining the gold distribution, and to continue to test possible extensions at the West Porphyry and Shoot zones. Generally, the recent drilling results are in agreement with previous drilling results.

In addition, drilling on the West Porphyry Zone continues to confirm the presence of a new zone of gold mineralization 60 metres below the previously defined zones. This newly defined zone extends westwards onto the recently acquired Bourgeois claim along a strike length of approximately 600 metres. The zone varies in thickness along strike from 2 metres to 25 metres and remains open in all directions. Recent 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
ZONE Hole Number From To Metres Grams per Tonne (g/t)
Shoot Zone 2 TA11-001 182.6 188.3 5.2 4.24
Shoot Zone 1, 2 TA11-005 144.4 150.9 5.9 4.33
  including 150.4 150.9 0.5 27.80
West Porphyry Zone TA11-002 371.9 388.0 16.1 7.50
  including 374.0 380.6 6.6 16.17
West Porphyry Zone1, 2 TA11-002 411.0 423.5 11.3 4.94
  including 415.5 416.5 1.0 29.10
West Porphyry Zone TA11-003 128.2 128.9 0.7 18.95
West Porphyry Zone 2 TA11-003 456.5 470.1 13.6 3.82
  including 456.9 457.6 0.7 33.29
West Porphyry Zone 1 TA11-003 635.9 636.9 1.0 31.20
West Porphyry Zone TA11-006 421.0 423.6 2.6 10.51
West Porphyry Zone 1 TA11-006 573.8 575.4 1.6 7.19

Note:  All lengths are reported as true width

1 Footwall Zone

2 Visible Gold observed.

"The drilling at Taylor continues to prove positive results in grade, intercept widths and continuity" said Jacques Perron, President & CEO of SAS. "These results solidify our confidence in the potential for the future development of the Taylor Project, which we will continue to drill during 2011. We currently have 2 drills focussed on infill drilling and testing the extensions of the zones at depth with additional drills being added in the coming weeks."

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, and the continuance of additional exploration programs on this project throughout 2011. 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:

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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