sa s provides update on the taylor definition drill … · orth‐easter n of the wes t ts of tayl...
TRANSCRIPT
NEWS RE
SAHole T2
Toronto,StAndreprovide a(“Taylordistrict, n1004lensHIGHLIGH
T
T
T
T
T
T
Notes:Alllecutto30.00“This moencouragrecent drdemonstrthe focusgeologicabecomeaTheComelevationextensionsample. TtheComp1004lensThis phazones arpotentialsupports
LEASE
AS PROVID20‐020 retu
,Canada
ewGoldfieldan update o”) locatedonnorth‐easternsoftheWest
HTSOFTAYL
220‐003:
220‐004B:
220‐005:
220‐019A:
220‐020:
220‐021A:
engthsarerepor0g/tAu.Ofthet
ost recent pgesustocontrill results oratesthepots of our teaallyandstruanimportant
panyrecentln (surface eln of the100The results fpany’sundersandconfirm
se of drillinge present alexiststoexadvancingth
DES UPDATrns 14.12 g/
dsLtd. (TSXon the recennthewesternOntario, CtPorphyryZ
LORDRILLING
11.56 g/tAu14.7metres
5.49 g/t Au5.1metres(2
6.62 g/t Au5.7metres(15.92g/tAuo8.90g/tAuo14.12 g/tAu4.6metres(48.64 g/t Au6.7metres(1
rtedascorelengtotalsamplepop
phase of driltinueourwoon the 1004tentialforwiam will be tcturallycomtcontributor
lycompletedlevation is s4 lens, situafrom this drrstandingofmedtheteno
g confirmedlong the easpandmineraheundergrou
TE ON THE/t Au over 1
X‐SAS) (OTCnt undergrournportionofanada.Thedone(“WPZ”)
GRESULTS
uover 16.2ms(14.22g/tAu
over 27.7 m27.94g/tAuu
u over 18.3 m17.65g/tAuuover28.2metover9.7metreuover 18.6m47.66g/tAuu over 10.7 m11.67g/tAuu
gths.Truewidthpulation,1.44%
lling at TayorkatTaylorlens of theideandhighto carefully
mplexdepositrtothefuture
d22drillholset at 270matedwithin till programboththegeoorandorienta
that: (i) wistern edge oalizationonundexplorat
TAYLOR D8.6 metres,
CQX‐STADF)und definitioftheCompandrill program).
metres (13.14uuncut)
metres (8.25 guncut)
metres (9.79uncut)tres,includingesmetres (21.67uncut)metres (8.79 guncut)
hsareexpected%ofassayresults
ylor has retur.”saidJacquWPZ, whichgradegoldmanalyze thit.WecontineofSAS.”
lescollaredfm), totaling 4theWPZ, inprovided adologicalandationoftheg
ider, more cof the 1004the1004lentionprogram
DEFINITIONincluding 26
, (“SAS” or ton drilling pny’s landpam focussedo
g/tAuuncut
g/t Au uncut)
g/t Au uncut
g16.97g/tAu
g/tAuuncut
g/t Au uncut)
torangefrom8sexceeded30g/
urned impreesPerron,Prh is the largemineralizatiois informatiouetobeliev
fromtheram4,032 metrethe vicinitydditional infostructuralsgoldmineral
continuous alens than w
nsbothtothm.
N DRILL PR6.92 g/t Au
the “Companprogram at ickageintheon the easte
t), including1
), including 1
t), including
uover2.6met
t), including2
), including 1
85‐95%oftheco/tAuandwere
essive resultresidentandest andmoson.Overtheon to betterethatTaylo
mpdevelopmes to test thof the seconormation,whsettings inthlization.
and higher gwere previoheeastandt
ROGRAM over 4.6 me
August27,
ny”) is pleasits Taylor PreTimminsmernportiono
12.48 g/tAu
18.33 g/t Au
9.77 g/t Au
tres,andinclu
26.92 g/tAu
11.46 g/t Au
orelength;allasubjecttobecu
ts, which fudCEOofSAS.t importantnextfewmor understandrhaspotent
mentonthe2he easterly sndproposedhichwill incheeastendo
grade mineraously definedtodepth;and
15/13
1
etres
2013
sed torojectminingof the
over
over
over
uding
over
over
assaysut.
urther.“Thearea,onths,d thetialto
220mstrikedbulkcreaseof the
alizedd; (ii)d(iii)
2
Allrecentassayresultsareshownonplanview(see“Figure1”).Ageologicalcross‐sectionthroughthe1004lensshowsrecentholesandaccompanyingresults(see“Figure2”).Assayresultsfromthedrillprogramaresummarizedinthetablebelow.
TaylorProject–DefinitionDrillProgramonthe1004lensoftheWPZ
Hole Number
UTM (NAD 27) Degrees Intersection (Metres) Core Length
Gold Grade (uncut) g/t
Gold Grade (cut) g/t Easting Northing Elevation Azimuth Dip From To (Metres)
T220‐001 528060 5379103 78 315 ‐70 136.0 159.0 23.0 5.04 4.43
Including 136.0 146.3 10.3 6.46 5.39
153.0 159.0 6.0 7.54 7.04
154.8 158.3 3.5 10.35 9.61
T220‐002 528060 5379103 78 315 ‐77 151.5 166.5 15.0 8.11 7.15
Including 151.5 157.5 6.0 6.87 ‐
161.3 166.5 5.2 15.18 12.41
T220‐003 528060 5379103 78 315 ‐83 156.8 173.0 16.2 13.14 11.56
Including 158.3 173.0 14.7 14.22 12.48
163.5 167.8 4.3 31.20 25.20
T220‐004B 528044 5379102 76 315 ‐77 136.7 164.4 27.7 8.25 5.49
Including 136.7 141.8 5.1 27.94 18.33
160.8 164.4 3.6 18.26 10.53
T220‐005 528044 5379102 76 315 ‐82 156.3 174.6 18.3 9.79 6.62
Including 156.3 162.0 5.7 17.65 9.77
170.3 174.6 4.3 15.76 12.74
T220‐006 528044 5379102 76 315 ‐89 163.6 165.0 1.4 10.72 ‐
And 170.3 180.2 9.9 19.27 14.07
T220‐007 528037 5379112 76 315 ‐70 130.8 141.0 10.2 5.82 5.38
Including 130.8 132.5 1.7 21.47 18.82
T220‐008 528035 5379094 74 315 ‐68 144.2 149.1 4.9 4.90 ‐
T220‐009 528017 5379092 72 315 ‐65 93.0 100.0 7.0 10.25 9.51
Including 95.0 100.0 5.0 13.56 12.52
And 155.2 161.2 6.0 7.14 ‐
T220‐010 528017 5379092 72 315 ‐70 83.4 86.2 2.8 14.15 11.55
Including 83.4 85.4 2.0 18.85 15.21
T220‐011 528018 5379091 72 315 ‐81 98.6 99.5 0.9 25.40 ‐
And 161.8 166.6 4.8 13.02 11.74
Including 163.3 166.6 3.3 18.11 16.25
T220‐012 528006 5379083 69 315 ‐59 159.9 163.7 3.8 4.10 ‐
T220‐013 528006 5379082 69 315 ‐70 99.4 102.9 3.5 10.33 ‐
And 168.5 170.2 1.7 3.80 ‐
T220‐014 527995 5379078 69 315 ‐67 171.8 178.4 6.6 22.17 9.19
Including 175.2 178.4 3.2 42.76 16.00
T220‐015A 529985 5379076 67 300 ‐68 150.5 153.2 2.7 18.73 8.57
And 174.8 184.6 9.8 11.89 9.66
3
Hole Number
UTM (NAD 27) Degrees Intersection (Metres) Core Length
Gold Grade (uncut) g/t
Gold Grade (cut) g/t Easting Northing Elevation Azimuth Dip From To (Metres)
Including 181.4 184.6 3.2 23.49 16.67
T220‐016 527985 5379077 67 315 ‐61 156.6 166.5 9.9 7.35 6.85
Including 163.8 166.5 2.7 17.65 15.80
T220‐017 527985 5379076 67 315 ‐72 171.4 179.6 8.2 4.71 ‐
Including 171.4 178.8 7.4 5.04 ‐
T220‐018 528006 5379082 69 315 ‐76 171.7 177.5 5.8 4.22 ‐
Including 171.7 175.9 4.2 5.49 ‐
T220‐019A 528037 5379112 76 315 ‐79 99.5 101.0 1.5 16.64 ‐
And 129.2 157.4 28.2 5.92 ‐
Including 129.2 131.8 2.6 16.97 ‐
136.0 138.6 2.6 12.69 ‐
147.7 157.4 9.7 8.90 ‐
T220‐020 528068 5379114 81 315 ‐81 142.1 145.7 3.6 21.02 ‐
And 154.2 172.8 18.6 21.67 14.12
Including 154.2 157.6 3.4 25.82 20.08
163.2 167.8 4.6 47.66 26.92
162.3 172.8 10.5 29.50 17.98
T220‐021A 528060 5379103 78 315 ‐88 157.0 161.7 4.7 8.40 5.90
And 171.4 182.1 10.7 8.79 8.64
Including 173.8 180.5 6.7 11.67 11.46
T100‐030 528043 5379107 76 292 ‐78 143.7 159.2 15.5 1.70 ‐
Notes:Alllengthsarereportedascorelengths.Truewidthsareexpectedtorangefrom85‐95%ofthecorelength;allassayscutto30.00g/tAu.Ofthetotalsamplepopulation,1.44%ofassayresultsexceeded30g/tAuandweresubjecttobecut.
TaylorLocationandGeologyTaylor is situated 50km east of Timmins, ON and lies along the Porcupine Destor Fault Zone(“PDFZ”) in the easternportionof thePorcupineMiningCampbetween theStockandBlackFoxgoldmines.Aswithothergolddepositstotheeastandwest(suchasBlackFox,Stock,AquariusandNighthawk), the deposits at Taylor represent examples of ultramafic‐hosted goldmineralizationthatoccurinareasofcarbonatealterationalongandadjacenttostronglyfoliatedhighstrainzonesassociatedwiththePDFZanditsnumeroussplays.Drilling,AssayingandQA/QCUndergrounddrillingwasconductedbyAzimutBorealDrillingServicesInc.AnalyticalworkfortheTaylorProjectwasperformedbyAGATLaboratories,anaccreditedlablocatedinMississauga,ON.Gold analysis was conducted using an industry standard Pulp metallic assay technique. SASemploys an industry accepted QA/QC program consisting of certified reference standards andblanks that are inserted into the sample stream,which represent approximately 5%of the totalsamplepopulation.QualifiedPersonThedefinitiondrillingprogramattheTaylorProjectisunderthesupervisionofMr.DougCaterP.Geo,theCompany’sVicePresidentExplorationwhoisaqualifiedpersonasdefinedbyNI43‐101,andhasreviewedandapprovedthisnewsrelease.
4
AboutSASSAS(operatingas“SASGoldmines”), isagoldminingandexplorationcompanywithanextensivelandpackage in theTimminsminingdistrict,north‐easternOntario,which lieswithin theAbitibigreenstonebelt,themostimportanthostofhistoricalgoldproductioninCanada.SAS owns and operates the Holt, Holloway and Hislop mines which contribute approximately100,000ouncesofannualgoldproduction.TheCompanyisalsoadvancingtheTaylorProjectandisconducting a number of exploration programs across 120km of land straddling the Porcupine‐DestorFaultZone.ForfurtherinformationaboutStAndrewGoldfieldsLtd.,pleasecontact:Tel:1‐800‐463‐5139or(416)815‐9855;Fax:(416)815‐9437;Website:www.sasgoldmines.com
Suzette N RamcharanDirector, Investor Relations
Jacques Perron President & CEO
Ben Au CFO, VP Finance & Administration
FORWARD‐LOOKING INFORMATION
This news release contains forward‐looking information and forward‐looking statements (collectively, “forward‐looking information”) under applicable securities laws, concerning the Company’s business, operations, financial performance, condition and prospects, as well as management’s objectives, strategies, beliefs and intentions. Forward‐looking information is frequently identified by such words as “may”, “will”, “plan”, “expect”, “estimate”, “anticipate”, “believe”, “intend” and similar words referring to future events and results, including in respect of the definition drill information completed at Taylor, and the potential for finding new deposits at Taylor. This forward‐looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward‐looking information. Factors that may cause actual results to vary materially include, but are not limited to, unanticipated operational or technical difficulties which could increase the time necessary to complete the development initiatives, escalate operating and/or capital costs and reduce anticipated production levels; uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of the mineral reserves and resources; the Company’s dependence on key employees and changes in the availability of qualified personnel; fluctuations in gold prices and exchange rates; operational hazards and risks, including the inability to insure against all risks; changes in laws and regulations; and changes in general economic conditions. Such forward looking information is based on a number of assumptions, including in respect of the ability to achieve operating cost estimates, the volatility and level of the price of gold including that the gold price will generally remain within a reasonable range of current levels, the accuracy of reserve and resource estimates and the assumptions on which such estimates are based, the sufficiency of the Company’s cash flow and financial reserves to carry out its planned programs, the ability to attract and retain qualified personnel to conduct its exploration programs and operate its mines and general business and economic conditions. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward‐looking information. Accordingly, readers are cautioned not to place undue reliance on this forward‐looking information. SAS does not assume the obligation to revise or update this forward‐looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. A further description of the risks and uncertainties facing the Company may also be found in the Company’s Annual Information Form available on SEDAR at www.sedar.com.
‐30‐
FIGURE 1—NR_27Aug13
FIGURE 2—NR_27Aug13