Savant Commences Field Programs on its Southwest U.S. Copper Porphyry Properties
April 22 2014 - 7:00AM
Marketwired
Savant Commences Field Programs on its Southwest U.S. Copper
Porphyry Properties
Technical Advisor Appointed
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 22, 2014) -
Savant Explorations Ltd. (TSX-VENTURE:SVT) ("Savant") has commenced
field exploration programs on the Jasper Canyon, Buckhorn Creek and
Frazier Creek copper porphyry properties. A preliminary geological
assessment was completed during the winter to set up for more
detailed programs that will be carried out over the next couple of
months. Planned work for the three properties will include detailed
geological mapping, geochemical sampling and geophysical surveying
to prioritize areas for drill testing. Summary information for the
three properties and additional information including maps and a
corporate presentation can be found at Savant's website at
www.savantexplorations.com.
Southwest U.S. Exploration Summary
The Buckhorn Creek, Jasper Canyon, and Frazier Creek properties
were recently acquired under option from Eurasian Minerals Inc.
(TSX-V: EMX) through its wholly owned subsidiary Bronco Creek
Exploration. (see the Company's news release dated October 30,
2013).
Buckhorn
Creek
The main target on the Buckhorn Creek property is defined by
leach cap fragments and exotic copper oxide in a basal
conglomerate, which suggests there may be a nearby enriched
porphyry copper deposit concealed beneath down-faulted covering
volcanic rocks. The basement rocks adjacent to the capping volcanic
rocks are weakly-altered and contain widely-spaced, stringer-like,
copper-mineralized quartz veins suggesting a distal alteration to a
potentially larger porphyry copper system. An Induced Polarization
(I.P.) survey will be used to assess the potential for a
mineralized porphyry deposit at depth.
Jasper
Canyon
At Jasper Canyon, Savant is targeting either an enriched
porphyry copper deposit beneath shallow post mineralization cover
rocks or a more deeply buried porphyry copper deposit with
high-grade primary sulphide (hypogene) along the same regional
structural trend that hosts the Pinto Valley and Copper Cities
copper deposits. A structural interpretation of the extensional
fault regime suggests that the fault-displaced upper portion of the
Copper Cities deposit could lie to the northeast in the area of the
Jasper Canyon property. Additional evidence of a possible porphyry
deposit is the presence of a halo of copper and base metal vein
occurrences in the overlying rock units along the eastern margin of
the property, a common feature of copper deposits both in the
Globe-Miami District and elsewhere in the world. An initial CSAMT
geophysical survey will be conducted across the property to map the
depth profile of the prospective basement rocks and to design a
suitable follow-up program.
Frazier
Creek
The Frazier Creek property covers intensely silicified and
hydrothermally dolomitized limestone over a 1.8 km x 0.8 km area
where past surface exploration identified widespread anomalous
copper and molybdenum values. The highest copper and molybdenum
mineralization occurs within areas of intense silicification and
narrow sulphide-mineralized structures. Selected grab samples
collected from these structures contained values ranging from 1.1%
Cu to 3.2% Cu. In a shallow historical working, a grab sample
containing 0.8% copper and 0.008% molybdenum was collected from a
sericitically-altered fine grained porphyry dyke, which in
conjunction with the presence of anomalous copper and molybdenum
and intense silicification and dolomitization, indicates that this
large area may represent the "lithocap" to a buried copper -
molybdenum bearing porphyry deposit lying within a few hundred
metres of surface. Mount Hope, one of the largest and highest grade
molybdenum-copper deposits in the Americas, is located eight
kilometres to the south of the property. Detailed mapping will be
completed to better define this alteration zone and the main
structural elements prior to planning for an initial drill
test.
Southwest U.S. Generative Work
A major part of Savant's new copper exploration strategy for the
Southwest U.S. is to identify new high-priority copper targets to
advance Savant's growth strategy in the region. Savant's management
team has been working through the extensive database of geological,
structural, geochemical and historical exploration work available
for the Southwest U.S. copper belts. To date, this generative work
has identified more than 20 areas that will be the subject of a
more comprehensive review and field-based assessment over the
coming months.
Technical Advisor
Appointed
The initial stages of the generative work advanced rapidly with
the assistance of Michael Casselman, a director of Savant until he
passed away in January 2014, and more recently by Myron Osatenko,
who has agreed to join the Company as a Technical Advisor to
continue with the generation and assessment of new target
opportunities.
Mr. Osatenko was a former Chief Geologist and Manager Latin
America for Cominco Ltd. (Teck Resources) who spent much of his 35
year career building his expertise in copper project generation
initiatives and resource expansion projects. He had a leading role
in more than doubling the size of the Prosperity copper deposit and
the Pebble Copper deposit. Mr. Osatenko was also a co-discoverer of
the Kwanika Cu-Au porphyry deposit in B.C. for which he was
co-awarded the prestigious Prospector of the Year for 2011 by
AMEBC. Mr. Osatenko has been granted options to purchase 100,000
common shares of the Company at a price of $0.06 per share in
accordance with the Company's stock option plan and subject to the
policies of the TSX Venture Exchange.
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 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 also owns three other high-quality
properties, Yuby-Gabriela, Blue Moon and Yava that management is
seeking to monetize for maximum value to Savant and its
shareholders. These other properties and assets are 100% owned with
combined annual holding costs of approximately $30,000.
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 web site 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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