Savant Explorations Ltd.: IP Defines High-Priority Drill Targets on the Buckhorn Copper Property, Arizona
June 17 2014 - 7:00AM
Marketwired
Savant Explorations Ltd.: IP Defines High-Priority Drill Targets on
the Buckhorn Copper Property, Arizona
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 17, 2014) -
Savant Explorations Ltd. (TSX-VENTURE:SVT) ("Savant") is pleased to
announce that a recently completed Induced Polarization ("IP")
survey on the Buckhorn copper porphyry property in Arizona returned
two strong chargeability anomalies that warrant drill testing. One
of the anomalies, referred to below as Anomaly 1, coincides
directly with an exploration target that was established by the
presence of key surface indicators of porphyry copper
mineralization which suggests that the IP anomaly may be related to
a buried copper porphyry body.
IP Survey Results - Buckhorn Property
The IP survey was conducted along two lines; a main east
north-east line of 4.2 kilometres in length and a northwest cross
line of 2 kilometres in length. The array used should detect
chargeable material to a depth of about 450 metres. The main survey
line was designed to test for porphyry copper mineralization
beneath younger post mineralization volcanic rocks east of basement
rocks that host distal porphyry copper-type alteration and where a
basal conglomerate at the contact of the younger volcanic and
basement rocks contains both fragments of leached porphyry rocks
and exotic copper oxide.
A graphic presentation of the IP survey results is presented on
a plan map and a fence diagram of the IP chargeability section with
superimposed geology. The maps can be found on Savant's website at
www.savantexplorations.com and should be referred to when reading
this release.
The two anomalies, referred to as Anomaly 1 and 2, are defined
by chargeability levels that are at least three times background,
which, in this favourable geological setting, may suggest a
metallic sulphide source.
The Buckhorn property is one of three properties recently
acquired under option from Eurasian Minerals Inc.
(TSX-VENTURE:EMX)(NYSEMKT:EMXX) through its wholly owned subsidiary
Bronco Exploration Inc. (see the Company's news release dated
October 30, 2013).
Anomaly 1
Anomaly 1 is a 600 metre long feature that begins east of the
contact of the covering volcanic rocks. The eastern end of this
anomaly may mark the end of chargeable minerals or could be caused
by the easterly thickening wedge of volcanic rocks exceeding the
depth limit of the IP survey array. The north-westerly cross line
indicates that the anomaly is at least 600 metres wide. To the
southeast on this cross line, the anomaly may be offset by a fault
that down-drops the zone beneath the detection depth of the
survey.
John McClintock, President & CEO of Savant commented, "The
location of Anomaly 1 east of the basement alteration is exactly
where we would expect to find a porphyry copper deposit buried at a
shallow depth beneath the younger volcanic rocks. The target is
large, potentially open at depth and to the southeast and
northeast, and represents a priority target for drill testing."
Anomaly 2
Anomaly 2 is approximately 800 metres long and occurs in an area
of covering river gravels and on a slope where the bed rock is
covered by talus from younger volcanic rocks. The feature is
interpreted to be flat lying, extending from surface to a depth of
250 metres. There is no obvious explanation for the anomaly, but
its position and associated geology make it a compelling target for
a shallow drill test.
IP Survey
Specifications
Savant contracted Zonge International of Tucson Arizona to carry
out 6.4 line kilometres of induced polarization surveying on the
Buckhorn Property in May, 2014. The survey was a frequency domain,
dipole - dipole complex resistivity IP survey using a dipole
spacing of 200 metres and readings from N 1 to 8. Zonge used a 30
Kw generator and a 6 channel Zonge GDP - 3224 instrument. Data was
decoupled and a 2D smooth-model inversion of the data produced
using Zonge's TSDIP program. Based on the 2% sensitivity level of
the inversion model, the survey is conservatively looking to depths
between 400 and 450 metres. IP chargeability effect can be caused
by metallic sulphides as well as other minerals such as graphite,
clays and magnetite.
Drill testing
Planning and permitting for a program of reverse circulation
drilling to test both Anomaly 1 and Anomaly 2 has commenced.
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 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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