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Saville Resources Inc (2)
Symbol SRE
Shares Issued 47,208,714
Close 2018-09-25 C$ 0.055
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Saville moves exploration field crews to niobium claims

2018-09-25 09:35 ET - News Release

Mr. Mike Hodge reports


Saville Resources Inc. has mobilized field crews to carry out the company's inaugural exploration at its niobium claim group property. The property is situated within the central Labrador Trough, approximately 130 kilometres south of Kuujjuaq, Que., and covers several prospective niobium-tantalum targets, including the Northwest, Miranna, Southeast and Star trench areas.

The primary objective of the field program is to further delineate drill hole locations ahead of drilling. The work is being completed by Dahrouge Geological Consulting Ltd. and will comprise two primary components: a ground magnetic survey and targeted prospecting.

Mike Hodge, president of Saville Resources, commented: "We are excited to announce the company's initial exploration program on the property and are further encouraged by the recently completed NI [National Instrument] 43-101 technical report, where it concludes there is a strong potential for carbonatite-hosted niobium-tantalum deposit(s) of significance to be present, based on exploration completed to date. Discoveries start with boots on the ground and we look forward to following this work up with an aggressive and targeted drill campaign to further unlock this potential."

The ground magnetic survey will cover a significant portion of the eastern half of the property, including the Miranna and Southeast areas. In the Southeast area, much of the niobium-tantalum mineralization is associated with magnetite and, therefore, a properly spaced ground magnetic survey may offer a cost-effective method of further delineating this horizon by providing additional information on its extent and orientation.

The prospecting component will focus on several prospective areas not traversed historically, as well as ground follow-up in the immediate area of the most well-mineralized drill hole intercepts and their interpreted projection to surface. This includes drill hole EC10-033, where 0.72 per cent niobium pentoxide over 21.4 metres was intersected starting from a depth of 4.2 metres (immediately beneath overburden), as well as 0.82 per cent Nb2O5 over 21.9 metres starting from a depth of 58.9 metres. Both intersections are shallow and indicate that strong mineralization extends to surface in the immediate area. In terms of ground follow-up, there is a sizable corridor to the south of EC10-033 that has not been traversed and is, therefore, a high-priority area for assessment.

The surface exploration is anticipated to take approximately two weeks to complete, with the field data to be incorporated into a continuing geological model update of the Southeast area. The drill hole model of the Southeast area has not been modified since 2010. However, the geological understanding of the Eldor complex and its rock types has improved significantly since this time. As such, the model will include a partial photo relog of the core, applying a revised rock classification scheme, as well as incorporate other geophysical and surface data. The work will culminate into a revised geological model of the Southeast area, which will permit final drill hole targeting as well as further the understanding of the orientation and trend of the known mineralized horizon(s).

NI 43-101 disclosure

Darren Smith, MSc, PGeol, Dahrouge Geological Consulting Ltd., a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this news release.

About Saville Resources Inc.

The company's principal asset is the niobium claim group property, currently under earn-in agreement from Commerce Resources for up to a 75-per-cent interest. The property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered highly prospective for niobium and tantalum. The property includes portions of the high-priority, and drill ready, Miranna target where prior boulder sampling in the area has returned 5.9 per cent Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwest and Southeast areas where previous drilling has returned wide intercepts of mineralization, including 0.61 per cent Nb2O5 over 12.0 m (EC08-008) and 0.82 per cent Nb2O5 over 21.9 m (EC08-033), respectively.

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