VANCOUVER, BC / ACCESSWIRE / March 25, 2019 / Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Company” or “Saville”) is pleased to announce a maiden drill program on the Niobium Claim Group Property (the “Property”), expected to commence this week. The Property is situated within the central Labrador Trough, approximately 130 km south of Kuujjuaq, Quebec, and covers several prospective and advanced-stage niobium-tantalum targets.
Field crews are expected to mobilize for the program this week, which is anticipated to run for approximately one month. The drill program (Phase I) will include at least four (4) drill holes for a minimum of 700 m. The focus will be the Mallard Target (formally termed the “Southeast Target”) located in the Southeast Area of the Property. The drill holes will test the southeastern extension of the high-grade and near-surface mineralized intercepts returned from drill hole EC10-033, including 0.72% Nb2O5 over 21.35 m (4.22 m to 25.57 m) and 0.82% Nb2O5 over 21.9 m (58.93 m to 80.82 m).
Company President Mike Hodge comments, “We are excited to initiate this maiden drill program on the Property, and specifically at Mallard. Strong mineralization has been returned at this target historically and confirming and extending this trend is a logical next step as we advance towards an initial mineral resource estimate.”
The primary objective of the field program is to further characterize the mineralized trend and potential at the Mallard Target and immediate area. As the most advanced target on the Property, with 2,490 m over nine (9) drill holes completed, coupled with the strong mineralization returned historically, the Company’s Phase I drilling at Mallard will provide the foundation for advancement towards an initial mineral resource estimate. Further drilling at Mallard as well as several other high-priority targets, including Miranna, is planned as part of Phase II.
The exploration program will be carried out by Dahrouge Geological Consulting Ltd, with field operations managed out of Quebec. Avataa-Rouillier Drilling of Kuujjuaq, QC, part of Le Groupe Rouillier, has been contracted to provide drilling services for the program.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Saville Resources Inc.
The Company’s principal asset is the Niobium Claim Group Property, currently under Earn-In Agreement from Commerce Resources Corp. for up to a 75% interest. The Property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered highly prospective for niobium and tantalum. The Property includes portions of the high-priority, and drill ready, Miranna Target where prior boulder sampling in the area has returned 5.9% Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwest and Southeast areas (Mallard Target) where previous drilling has returned wide intercepts of mineralization, including 0.61% Nb2O5 over 12.0 m (EC08-008) and 0.82% Nb2O5 over 21.9 m (EC10-033), respectively.
On Behalf of the Board of Directors
SAVILLE RESOURCES INC.
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 information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Saville Resources Inc.
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