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
| 6.82 g/t Au over 9.6 metres
5.30 g/t Au over 14.8 metres
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 operations."
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 this time.
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
|Easting||Northing||Elevation||Azimuth||Dip||From||To||Core Length||True Width|
|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 horizon.
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 deposit.
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 complete.
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 below:
Ghost Zone 2012 Surface Drilling Program
|Hole Number||Holt Mine Grid||Degrees||Intersection (Metres)||(Metres)|| Gold
|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
|Hole Number||Holloway Mine Grid||Degrees||Intersection (Metres)||(Metres)|| Gold
|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.
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
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;
Suzette N Ramcharan
Manager, Investor Relations
Email: [email protected]
President & CEO
CFO, VP Finance & Administration