VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 22, 2014) - Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") has received a permit to drill its Frazier Creek Property in Nevada. The initial drill program is scheduled to start in mid-October.
Frazier Creek Property
The Frazier Creek property is underlain by intensely silicified and hydrothermally dolomitized limestone extending over a 1.8 km x 0.8 km area that carries widespread anomalous copper and molybdenum values, grab samples from silicified structures range from 1.1% Cu to over 3.0% Cu, and a sericitically-altered and mineralized feldspar porphyry dike (refer to the company's news releases dated January 27, 2014 and July 25, 2014).
The combination of these features and the intensity of the alteration suggest that this large area may be the "lithocap" to a buried copper - molybdenum bearing porphyry deposit lying within a few hundred metres of surface. The initial drill program is designed to test for this possibility. Limestone is an excellent host rock for the formation of copper skarn mineralization and increases the probability of higher primary copper grades. In addition, structural mapping of the property indicates that the alteration system is near vertical and not disrupted by extensional faulting.
Buckhorn, Arizona - Property Update
Savant is awaiting the permit to drill on its Buckhorn Property in Arizona, where two Induced Polarization (I.P.) chargeability anomalies warrant drill testing (refer to the company's news release dated June 17, 2014). One of the anomalies coincides directly with an exploration target that was established by the presence of key surface indicators of porphyry copper mineralization - this coincidence suggests that the anomaly may be related to a buried copper porphyry body. Further updates on the timing of the drill program at Buckhorn will be made available once the permit has been received.
The Frazier Creek and Buckhorn properties were acquired under option from Eurasian Minerals Inc. through its wholly owned subsidiary Bronco Creek Exploration. (See the company's news release dated Oct. 30, 2013.)
About Savant
Savant is an exploration and discovery stage company focused on generating and exploring high quality precious and base metal properties in stable jurisdictions. Savant has initiated a new copper exploration and discovery strategy in Southwest United States and is currently exploring the Frazier Creek Property in Nevada and the Buckhorn property in Arizona. Savant owns three other high-quality properties - Yuby-Gabriela (Chile), Blue Moon (U.S.) and Yava (Canada) - that Savant's management is seeking to monetize for maximum value to Savant and its shareholders.
John McClintock, P. Eng., CEO of Savant is the Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release.
More information on the Company's activities is available at the Company's website at www.savantexplorations.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. These statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to obtain necessary regulatory approvals, the failure to reach agreement on final documentation, exploration results and other risk factors that are beyond Savant's control. There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.