Mr. Duncan Middlemiss reports
SAS EXPLORATION UPDATE - SUCCESSFUL DRILL PROGRAM EXPANDS MINERALIZATION AT HOLT AND HOLLOWAY
St. Andrew Goldfields Ltd. is providing an exploration update, which includes assay results from its phase 2 deep surface drill program, targeting zone 4, zone 6 and Tousignant West at its 100-per-cent-owned Holt mine, and the Smoke Deep and Blacktop zones at its 100-per-cent-owned Holloway mine.
Highlights of drilling results:
- Phase 2, zone 4, Deep West extension (surface drilling):
- ZN4-15-004 -- 4.08 grams per tonne gold over 9.9 metres, 265 metres west of current resources;
- ZN4-15-004-W1 -- 3.78 grams per tonne gold over 10.2 metres, including 4.33 grams per tonne gold over 6.8 metres.
- Zone 6 (underground drilling, 710 sublevel):
- 710-103 -- 8.71 g/t Au (8.55 g/t cut) over 13.2 metres, including 20.09 g/t Au over 3.1 metres;
- 710-113 -- 6.74 g/t Au (6.61 g/t cut) over 23.6 metres;
- 710-124 -- 9.62 g/t Au (9.40 g/t cut) over 14.7 metres.
- Holloway Smoke Deep (underground drilling, 945 sublevel):
- 945-077 -- 9.51 g/t Au (8.91 g/t cut) over 12.3 metres;
- 945-080 -- 10.49 g/t Au over 7.7 metres.
- Holloway Blacktop extension (surface drilling):
- GH15-002 -- 3.27 g/t Au over 11.9 metres, including 3.62 g/t Au over 9.8 metres.
Note that all drill hole core intercepts are reported as core length as true widths are not known at this time. Zone 4, West Tousignant and Blacktop assays are cut to 32.00 g/t Au. Underground drilling assays from zone 6 and Smoke Deep are cut to 25.00 g/t Au.
"We are very pleased with the successful results of the exploration programs at our core assets, Holt and Holloway," commented Duncan Middlemiss, president and chief executive officer of SAS. "Holt's zone 4 Deep West extension continues to grow in size with potential for further upside, both at depth and along strike. We continue to test the extension of this mineralization and look forward to updating the market on our progress. We are equally excited about the successful exploration programs at Holloway. The drill results demonstrate that mineralization continues down plunge at both Smoke Deep and Blacktop zones. These results are very significant to the extension of mine life at Holloway, with current reserves, resources and mineralization supporting mining operations until the end of 2017 and potential for further upside," added Mr. Middlemiss.
Holt -- phase 2, zone 4, Deep West extension drill program
Recent 2015 surface exploration drilling programs on the Holt property continue to follow up on the zone 4 Deep West extension, targeting multiple shallow-dipping en-echelon mineralized zones and ultimately targeting mineralization associated with the westerly strike projection of zone 4 (the most significant production horizon being mined at Holt). Previous assay results from phase 2 drilling were reported on May 7, 2015. (See the news releases available under the company's profile on SEDAR or on the company's website.)
Phase 1 drilling had confirmed the presence of a total of three mineralized zones being defined (zone 4 lower/NBS and vertical zones) and resulted in a 2014 year-end inferred mineral resource addition of 5.5 million tonnes grading 4.82 g/t Au containing 860,000 ounces of gold (excludes V-93 and DL zones). These zones remain open with additional mineral potential available along strike to the east, west and extending up dip toward the McKenna fault.
Recent assay results from phase 2 drilling continue to target both the strike and up-dip extension of zone 4 and associated mineralized zones. Assay results from hole ZN415-004 and ZN415-004 W-1 (wedge), which assayed 4.08 g/t Au over 9.9 metres and 3.78 g/t Au over 10.2 metres, respectively, are noteworthy and demonstrate that zone 4 mineralization extends an additional 265 m west.
Visually, the mineralized zones (which are readily recognizable in core) consist of a quartz breccia zone containing approximately 3 per cent to 5 per cent disseminated pyrite hosted within a sericitic and hematite altered mafic volcanic host rock. Zone 4 mineralization consists of multiple en-echelon shallow-dipping zones (20 degrees south), which are structurally controlled between the McKenna fault to the north and the Ghostmount fault to the south. The mineralized drill intercepts confirm that zone 4 remains open within the corridor up dip to the north, along strike and down the plunge.
PHASE 2 HOLT ZONE 4 DEEP WEST EXTENSION
SURFACE DRILL PROGRAM ASSAY RESULTS
BH ID From (m) To (m) Length (m) Au (g/t)
Z415-004 1,432.0 1,441.9 9.9 4.08
Z415-004 wedge 1 1,429.6 1,439.8 10.2 3.78
including 1,433.0 1,439.8 6.8 4.33
Note that all lengths are reported as core length, as true width is not available at this time. Assays are cut to 32.00 g/t Au.
Holt -- zone 6 underground drill program
Zone 6 is situated approximately 500 m south of the Holt shaft and is accessible from the 775 m and 925 m levels at Holt. The infill drill program, which was conducted from a footwall drill drift situated on the 710 m sublevel, consisted of 35 holes totalling 4,200 metres. The objective of the drilling was to confirm both the up- and down-dip extensions of the mineralized zone and to verify historical drill intercepts. Typical Holt-style mineralization was intersected by the holes where zones of moderate gold grades were reported. Significant program assay results were returned in hole 710-103, which returned 8.55 g/t Au over 13.2 metres, including 20.09 g/t Au over 3.1 metres, and in hole 710-124, which returned 9.40 g/t Au over 14.7 metres. A complete list of all 710-level program assay results is found appended at the end of this news release. The drill program was successful and continues to extend zone 6 mineralization above the 4,500 elevation. SAS has mobilized a drill to the 925 m level to define zone 6 lower mineralization above and below the level.
Tousignant West -- surface drill program
The Tousignant deposit is situated approximately three kilometres west of the Holt shaft and is accessible by road from the Holt property. The Tousignant deposit consists of three shallow west-plunging en-echelon mineralized zones and one vertical zone situated along the Ghostmount North fault zone -- a splay off of the Ghostmount fault. The deposit has been well drill tested and contains a mineral reserve/resource. Recent surface drilling conducted by SAS continues to test for mineralization associated with the Ghostmount and Ghostmount North faults along strike to the west of the Tousignant deposit. Recently, SAS completed a total of six holes totalling 2,537 metres, targeting near-surface mineralized extensions west of Tousignant. Significant program assay results were returned in hole TZ15-005, which returned 8.50 g/t Au over 4.8 metres, and in hole TZ15-004, which returned 3.10 g/t Au over 6.1 metres. A complete list of all Tousignant West/Ghostmount drill program assay results is found in the table.
HOLT TOUSIGNANT WEST ASSAY RESULTS
BH ID From (m) To (m) Length (m) Au (g/t)
TZ15-001 203.4 206.3 2.9 1.81
TZ15-002 205.8 206.6 0.8 5.09
TZ15-003 391.2 392.1 0.9 2.75
TZ15-004 136.5 142.6 6.1 3.10
TZ15-005 116.7 121.5 4.8 8.50
and 294.0 295.5 1.5 11.68
TZ15-006 544.7 545.4 0.7 6.96
Holloway mine
Smoke Deep underground drilling
Underground drilling from the 945 sublevel continues to evaluate both the easterly strike extension and down-plunge extension of Smoke Deep mineralization. Recent assay results from the 945 sublevel drill program are found summarized in the table.
HOLLOWAY SMOKE DEEP ZONE ASSAY RESULTS
Cut
DDH From (m) To (m) Length (m) Au (g/t) 25 g/t Au
945-70 NSV
945-71 NSV
945-72 103.6 106.4 2.8 9.48
945-73 NSV
945-74 NSV
945-75 97.6 102.4 4.8 5.53
and 123.0 128.4 5.4 5.63
including 125.7 128.4 2.7 8.16
945-76 NSV
945-77 126.6 138.9 12.3 9.51 8.91
including 126.6 135.5 8.9 10.21 9.39
and 136.8 138.9 2.1 12.16
945-78 100.1 101.2 1.1 8.28
945-79 NSV
945-80 128.6 136.3 7.7 10.49
including 128.6 133.3 4.7 14.49
945-81 NSV
945-82 NSV
945-83 103.2 104.0 0.8 8.90
including 111.0 113.0 2.0 6.39
945-84 91.6 94.4 2.8 7.30
and 98.0 102.9 4.9 6.68
and 149.6 151.3 1.7 4.91
Blacktop extension surface drilling program
Surface drilling commenced in the second quarter with one drill rig completing 1,950 metres of drilling on three holes and associated wedges. The primary target area is the down-dip extension of the Blacktop zone, adjacent to and along strike from Smoke Deep and Deep Thunder deposits. This program will continue into the third quarter. Assay results are summarized in the table.
HOLLOWAY BLACKTOP ASSAY RESULTS
BH ID From (m) To (m) Length (m) Au (g/t)
GH15-001
GH15-001W 1006.4 1007.0 0.6 9.26
GH15-002 1035.0 1046.9 11.9 3.27
including 1035.0 1044.8 9.8 3.62
Drilling, assaying and quality assurance/quality control
Core drilling on all SAS programs was performed by Asinii Drilling, based in Notre-Dame-du-Nord, Que. Analytical work for Holt zone 4 West, Tousignant West and Blacktop was performed by Lab Expert Inc., located in Rouyn-Noranda, Que. Samples consisted of saw-cut NQ-calibre core. Gold analysis was conducted using 30-gram samples (1AT portions) with gold grades determined by standard fire assay preparation and a gravimetric finish. Analytical work for core samples from the zone 6 and Smoke Deep drill programs was performed at SAS's Holt mine assay lab. Samples consisted of whole BQ-calibre-sized core. Gold analysis was conducted using 30-gram samples (1AT portions) with gold grades determined by standard fire assay preparation and a gravimetric finish. SAS employs an industry-accepted quality assurance/quality control program consisting of certified reference standards and blanks that are inserted into the sample stream, which represent approximately 5 per cent of the total sample population.
Qualified person
The exploration programs on the company's various mineral properties are under the supervision of Doug Cater, PGeo, the company's vice-president, exploration. Mr. Cater is a qualified person as defined by National Instrument 43-101 and has reviewed and approved this news release.
HOLT ZONE 6, 710 SUBLEVEL DRILL RESULTS
DDH From (m) To (m) Length (m) Au (g/t) Cut 25 g/t Au
710-100 99.3 100.2 0.9 3.97
710-101 86.1 92.0 5.9 4.16
including 89.0 90.0 1.0 7.00
including 91.0 92.0 1.0 9.97
710-102 77.6 84.7 7.1 4.24
including 78.2 80.2 2.0 11.05
including 83.7 84.7 1.0 3.78
710-103 55.5 57.4 1.9 3.01
including 55.5 56.5 1.0 3.68
71.4 72.4 1.0 3.22
73.6 74.6 1.0 3.71
98.1 111.3 13.2 8.71 8.55
including 98.1 101.1 3.0 12.37
including 101.9 103.3 1.4 5.42
including 107.5 110.6 3.1 20.75 20.09
710-104 81.8 86.3 4.5 3.16
including 81.8 82.8 1.0 6.35
710-105 64.6 66.0 1.4 3.94
84.7 85.3 0.6 6.16
88.0 91.6 3.6 5.35
including 88.0 90.0 2.0 6.09
including 90.6 91.6 1.0 6.89
710-106 NSV
710-107 42.2 44.2 2.0 5.11
including 42.2 43.2 1.0 9.06
54.7 56.4 1.7 3.73
including 55.7 56.4 0.7 6.55
66.0 72.4 6.4 5.46
including 67.9 71.8 3.9 7.64
710-108 70.8 78.0 7.2 3.75
including 70.8 71.8 1.0 3.53
including 73.8 74.8 1.0 8.51
including 76.6 77.0 0.4 20.06
710-109 75.3 82.6 7.3 3.46
including 75.3 77.5 2.2 4.86
including 79.2 79.9 0.7 6.84
including 80.8 82.6 1.8 3.56
710-110 66.1 67.0 0.9 5.27
83.4 85.0 1.6 4.53
92.1 96.4 4.3 4.82
including 92.1 92.9 0.8 12.20
including 93.9 96.4 2.5 4.25
710-111 66.3 69.0 2.7 6.65
including 66.3 68.0 1.7 9.86
95.0 103.6 8.6 7.93
including 95.0 101.3 6.3 8.90
including 102.4 103.6 1.2 9.31
710-112 105.7 117.6 11.9 8.01 7.42
including 108.0 110.8 2.8 11.17
including 112.0 116.1 4.1 13.11 11.38
710-113 79.5 81.5 2.0 4.61
including 80.7 81.5 0.8 8.30
108.0 131.6 23.6 6.74 6.61
including 108.0 108.8 0.8 5.13
including 110.1 110.5 0.4 18.86
including 114.0 117.9 3.9 11.08
including 118.9 120.5 1.6 9.31
including 121.0 121.6 0.6 7.74
including 123.7 124.7 1.0 3.03
including 125.7 131.1 5.4 13.32 12.75
710-114 Cancelled
710-115 36.8 41.0 4.2 3.60
including 36.8 39.5 2.7 3.56
including 40.4 41.0 0.6 7.36
61.9 63.4 1.5 4.07
71.3 78.7 7.4 5.41
including 74.8 76.7 1.9 10.9
including 77.6 78.7 1.1 6.30
710-116 65.3 66.2 0.9 4.56
93.4 95.5 2.1 3.17
100.1 105.0 4.9 5.46
including 100.1 103.8 3.7 6.31
710-117 106.8 133.0 26.2 6.64
including 107.8 120.9 13.1 8.91
including 127.0 132.2 5.2 11.82
710-118 58.3 60.1 1.8 13.02
69.0 73.7 4.7 5.88
including 69.0 72.3 3.3 6.22
including 73.2 73.7 0.5 12.17
75.9 76.7 0.8 15.9
80.6 80.9 0.3 12.44
710-119 94.5 95.1 0.6 15.32
97.0 102.7 5.7 7.88
including 97.0 100.0 3.0 8.93
including 100.4 102.7 2.3 7.52
710-120 Cancelled
710-121 79.2 90.7 11.5 6.32
including 82.3 90.7 8.4 7.92
710-122 88.7 101.6 12.9 5.45
including 88.7 90.1 1.4 5.61
including 90.4 94.2 3.8 6.08
including 95.6 101.6 6.0 5.85
710-123 101.1 111.5 10.4 9.57
including 102.1 107.6 5.5 10.39
including 108.5 111.5 3.0 12.66
710-124 107.5 108.0 0.5 29.43 25.00
112.0 126.7 14.7 9.62 9.40
including 112.0 116.1 4.1 9.81
including 118.8 119.8 1.0 10.98
including 120.2 121.1 0.9 4.78
including 121.8 126.7 4.9 15.85 15.17
710-125 69.7 78.5 8.8 7.63
including 70.4 77.2 6.8 7.74
including 77.7 78.5 0.8 15.25
710-126 29.7 38.0 8.3 4.41
including 31.9 34.7 2.8 6.00
including 35.5 37.0 1.5 9.34
43.6 44.6 1.0 4.02
70.9 82.4 11.5 6.47
including 71.9 75.5 3.6 9.95
including 76.5 78.5 2.0 4.63
including 79.5 82.4 2.9 8.18
710-127 Cancelled
710-128 67.8 68.5 0.7 6.64
80.4 92.8 12.4 5.22
including 81.6 85.2 3.6 6.81
including 86.2 89.2 3.0 6.85
including 90.2 92.8 2.6 4.45
710-129 99.9 114.2 14.3 4.95
including 100.9 103.6 2.7 8.89
including 106.9 109.0 2.1 5.13
including 110.0 114.2 4.2 6.97
710-130 39.5 40.4 0.9 3.06
44.2 44.8 0.6 4.73
66.0 74.2 8.2 5.23
including 66.0 66.5 0.5 3.94
including 68.9 70.9 2.0 7.82
including 72.6 73.4 0.8 18.8
including 73.7 74.2 0.5 4.77
710-131 69.6 77.0 7.4 6.02
including 69.6 71.3 1.7 11.08
including 72.7 73.0 0.3 4.33
including 74.1 77.0 2.9 7.28
710-132 36.0 43.7 7.7 4.35
including 36.0 39.0 3.0 5.33
including 42.0 43.7 1.7 6.69
64.5 65.4 0.9 3.38
76.7 87.5 10.8 6.89
including 76.7 78.2 1.5 3.51
including 79.2 87.5 8.3 8.19
710-133 40.0 42.0 2.0 4.17
92.7 97.6 4.9 4.89
including 92.7 95.4 2.7 6.78
including 96.4 97.6 1.2 3.63
710-134 NSV
710-135 104.9 106.0 1.1 3.16
710-136 92.0 97.7 5.7 4.91
including 92.0 93.0 1.0 3.39
including 95.0 97.7 2.7 7.59
103.5 105.5 2.0 5.28
including 103.5 104.5 1.0 9.10
710-137 51.0 51.6 0.6 3.07
52.6 53.5 0.9 3.70
84.5 85.6 1.1 4.02
99 104.3 5.3 3.63
including 100.4 101.3 0.9 4.25
including 102.3 104.3 2.0 6.63
Note that all lengths are reported as core length. Assays are cut to 25.00 g/t Au.
We seek Safe Harbor.
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