SAS Exploration Update - Successful Drill Program Expands Mineralization at Holt and Holloway

TORONTO, Aug. 5, 2015 /CNW/ - St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to provide an exploration update which includes assay results from its Phase 2 deep surface drill program, targeting Zone 4 ("Zone 4"), Zone 6 ("Zone 6"), and Tousignant West ("Tousignant") programs at its 100% owned Holt Mine ("Holt"), and the Smoke Deep and Blacktop Zones at its 100% owned Holloway Mine ("Holloway").


Highlights of Drilling Results 

 

Phase 2 Zone 4 Deep West Extension (Surface drilling):

ZN4-15-004 - 4.08 g/t Au over 9.9 metres – 265m west of current resources

ZN4-15-004-W1 - 3.78 g/t Au over 10.2 metres including 4.33 g/t Au over 6.8m

Zone 6 (Underground drilling 710 sub-level):

710-103 - 8.71 g/t Au (8.55 g/t cut) over 13.2 metres including 20.09 g/t Au over 3.1 metres.

710-113 - 6.74 g/t Au (6.61 cut) over 23.6 metres

710-124 - 9.62 g/t Au (9.40 cut) over 14.7 metres
 

Holloway Smoke Deep (Underground drilling 945 sub- level):

945-077 - 51 g/t Au (8.91 cut) over 12.3 metres

945-080 - 10.49 g/t Au over 7.7 metres

Holloway Blacktop Extension (Surface drilling):       

GH15-002 - 3.27 g/t Au over 11.9 metres including 3.62 g/t Au over 9.8 metres.
 

Notes: All drillhole core intercepts are reported as core length as true widths are not known at this time. Zone 4, West Tousignant and Blacktop assays are cut to 32.00 g/t Au.  Underground drilling assays from Zone 6 and Smoke Deep are cut to 25.00 g/t Au.

 

"We are very pleased with the successful results of the exploration programs at our core assets, Holt and Holloway" commentedDuncan Middlemiss, President and CEO of SAS.  "Holt's Zone 4 Deep West Extension continues to grow in size with potential for further upside, both at depth and along strike.  We continue to test the extension of this mineralization and look forward to updating the market on our progress." "We are equally excited about the successful exploration programs at Holloway.  The drill results demonstrate that mineralization continues down plunge at both Smoke Deep and Blacktop Zones.  These results are very significant to the extension of mine life at Holloway, with current reserves, resources, and mineralization supporting mining operations until the end of 2017, and potential for further upside." added Duncan Middlemiss.

 

Holt - Phase 2 Zone 4 Deep West Extension Drill program

 

Recent 2015 surface exploration drilling programs on the Holt property continue to follow-up on the Zone 4 Deep West Extension, targeting multiple shallow dipping, en-echelon mineralized zones and ultimately targeting mineralization associated with the westerly strike projection of Zone 4 (the most significant production horizon being mined at Holt).  Previous assay results from Phase 2 drilling were reported on May 7, 2015. (See press releases, available under the Company's profile on www.sedar.com or on the Company's website at www.sasgoldmines.com.)

 

Phase 1 drilling had confirmed the presence of a total of 3 mineralized zones being defined (Zone 4 Lower / NBS and Vertical zones) and resulted in a 2014 year-end inferred mineral resource addition of 5.5 million tonnes grading 4.82 g/t Au containing 0.86 million ounces of gold (excludes V-93 and DL zones). These zones remain open with additional mineral potential available along strike to the east, west and extending up-dip towards the McKenna Fault. Figure 1 is a longitudinal view identifying both the infrastructure and mineralized zones at the Holt mine (Zone 4 in green and Zone 6 in purple).

 

Recent assay results from Phase 2 drilling continue to target both the strike and up-dip extension of Zone 4 and associated mineralized zones. Assay results from hole ZN415-004 and ZN415-004 W-1 (wedge) which assayed 4.08 g/t Au over 9.9 metres and 3.78 g/t Au over 10.2 metres respectively are noteworthy and demonstrate that Zone 4 mineralization extends an additional 265m west. (Refer to Figure 2 above).

 

Visually, the mineralized zones (which are readily recognizable in core) consist of a quartz breccia zone containing approximately 3-5% disseminated pyrite hosted within a sericitic and hematite altered mafic volcanic host rock. Zone 4 mineralization consists of multiple, en-echelon shallow dipping zones (20° South) which are structurally controlled between the McKenna Fault to the north and the Ghostmount Fault to the south. The mineralized drill intercepts confirm that Zone 4 remains open within the corridor up-dip to the north, along strike and down the plunge. Figure 2 is a longitudinal view of the deep drilling showing the recent intercept position relative to the yearend mineral resource shape.

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