Savant Retains a 100% Interest in the Yuby-Gabriela Copper Property
February 05 2014 - 7:00AM
Marketwired
Savant Retains a 100% Interest in the Yuby-Gabriela Copper Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 5, 2014) -
Savant Explorations Ltd. (TSX-VENTURE:SVT) ("Savant") announces
that it has received notice from Minera Fuego of its intent not to
continue with the option agreement on Savant's wholly-owned
Yuby-Gabriela copper porphyry property in Chile. Since the
inception of the option agreement in 2011, Savant has received more
than $1 million in cash payments from Minera Fuego. Upon
termination of the option in early March, Savant will retain a 100%
ownership in the property and receive the extensive technical data
and geoscience knowledge acquired through Minera Fuego's funding of
the project over the past three years. Savant will undertake a
detailed review and interpretation of this extensive database in
order to determine the best way to advance the project and achieve
maximum benefit for Savant's shareholders.
Savant's focus for the current year continues to be the
advancement of the recently acquired copper porphyry properties in
the Southwest U.S., one of the world's premier porphyry copper
regions, as summarized in the Company's news release dated October
30, 2013. The first year work commitments and cash payments
required for all three properties is less than $250,000 and will be
easily funded from Savant's current working capital.
Contemporaneously with the preliminary exploration of the acquired
projects and as markets recover, Savant will aggressively pursue
additional opportunities in the Southwest U.S. with the objective
of acquiring high value properties either through direct staking or
low cost option agreements.
About Savant
Savant is an exploration and development stage company focused
on generating and exploring high quality precious and base metal
properties in stable jurisdictions. Savant has recently initiated a
new exploration and discovery strategy in Southwest United States
with the acquisition of the Buckhorn, Jasper Canyon, and Frazier
Creek properties. Savant's other properties and assets are 100%
owned with combined annual holding costs of approximately $40,000.
Savant also owns three other high-quality properties, the Yuby
Gabriela copper property in Chile, the Blue Moon Zinc-lead deposit
in California and the Yava Zn-Ag property in Nunavut, Canada that
Savant's management is seeking to monetize for maximum value to
Savant and its shareholders.
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.
Savant Explorations Ltd.John McClintockPresident and CEO(604)
568-5817info@SavantExplorations.comwww.SavantExplorations.com
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