St Andrew Goldfields Ltd SAS TSE March 10, 1997
Hits 54 Ft High Grade Gold At Taylor Mine West Porphyry Zone
Charles Gryba, President of St Andrew Goldfields Ltd. is pleased to announce that it has completed holes SAT-84 to -87 in the West Porphyry Zone with outstanding success in the first part of the 1997 exploration program. The available analyses of parts of holes SAT-85,-86 and -87 revealed impressive and high grade values over mineable widths. These holes follow the successful results from the 1996 program and confirm the continuity and potential of the West
Porphyry Zone. Assays are still pending for sections of drill holes 84, 85, 86, 86a, 87.
Hole SAT-87 produced the most spectacular results including 0.395 opt over 54.8 ft (uncut) which includes 0.47 opt (uncut) or 0.267 opt (cut to 1.0 opt) over 43.3 ft. This zone includes consecutive intersections grading 0.27 opt over 15.3ft, 4.18 opt over 2.8 ft., 0.16 opt over 4.9 ft and 0.46 opt over 5.2 ft. Assays of parts of a lower green carbonate zone returned a value of 0.35 opt over 10.0 ft.
Hole SAT-86 yielded 0.25 opt over 4.9 ft. and 1.07 opt over 9.8 ft. The latter intersection includes 1.79 opt over 4.9 ft and .35 opt over the remaining 4.9 ft. These values occur within sericitic and ankerite altered zone. Slightly deeper, hole SAT-86 encountered 0.18 opt gold over 14.1 ft within typical "green carbonate" that has hosted gold mines throughout the Timmins and Kirkland Lake gold camps.
Hole SAT-85 drilled northwest of the West Porphyry Zone (not located on attached map) intersected 0.34 opt averaged over 5.0 ft which includes 0.94 opt over 1.8 ft in characteristic gray carbonate (ankeritic alteration). The sample showed visible gold as well as molybdenum and copper (chalcopyrite) mineralization.
Hole SAT-84 intersected 0.11 opt gold over 9.8 ft and 0.11 opt over 14.8 ft. Hole SAT-84a drilled from an uphole wedge at 200m depth from hole SAT-84, encountered green carbonate with quartz vein breccia which returned assays of 0.406 opt over 4.9 ft.
Hole SAT-83 intersected 21 ft of green carbonate with low grade gold values and an intersection yielding 0.37 opt over 2.1 ft in a quartz vein.
Hole SAT-82 was drilled approx. 1 km north of the West Porphyry Zone to test a 600m wide deep IP anomaly. The hole encountered a large feldspar porphyry system in metasediments. Feldspar porphyry is intimately related to the gold systems in the Timmins camp. Assays are still pending.
Exploration drilling to date indicates that the West Porphyry Zone is a minimum of 500 feet in width, 1500 feet in length, and has an average thickness of 25 feet. The zone still remains open with excellent potential to expand to the south and southwest. A previously reported estimate for this zone is 1,460,000 tons grading 0.28 opt gold (see release dated Jan. 9, 1997).
At the present time, a total of five (5) diamond drills are on contract; three (3) on the Taylor and one each on the Hislop and Stock properties. An aggressive exploration program of drilling and Real Section IP geophysics will be continued in 1997 on all three properties to establish priorities for detailed ore reserve drilling and potential mine development. The Company has already completed a flow-through financing for $1,800,000 to finance this part of the exploration program (press release, Feb. 17, 1997)
St Andrew Goldfields Ltd. is a Canadian gold exploration and mining company with three permitted mining properties (Stock, Taylor, Hislop), a modern 1,000 tonnes per day mill that will start custom milling in March 1997 and more than 40 square miles of prime exploration properties in the prolific Timmins gold camp of Northern Ontario.
TAYLOR MINE - WEST PORPHYRY ZONE
HIGHLIGHTS OF ASSAYS
NEW ASSAYS
Interval Gold Width Gold Width
LOCATION metres g/t m opt ft
SAT-83 104.8 - 105.4 12.6 0.6 0.37 2.1
SAT-84 314.0 - 317.0 3.64 3.0 0.11 9.8
332.5 - 337.0 3.79 4.5 0.11 14.8
SAT-84a 459.0 - 460.5 13.9 1.5 0.41 4.9
SAT-85 627.8 - 628.35 32.19 0.55 0.94 1.8
SAT-86 114.4 - 116.3 4.94 1.9 0.14 6.2
434.0 - 435.5 8.54 1.5 0.25 4.9
455.5 - 458.5 36.66 3.0 1.07 9.8
455.5 - 457.0 61.37 1.5 1.79 4.9
457.0 - 458.5 11.95 1.5 .35 4.9
474.7 - 479.0 6.22 4.3 0.18 14.1
SAT-87 375.7 - 376.4 42.29 0.7 1.23 2.3
451.1 - 467.8 13.54 16.7 0.395 54.8
includes451.1 - 452.6 8.16 1.5 0.24 4.9
454.6 - 467.8 16.19 13.2 0.47 43.3
454.6 - 457.7 4.21 3.1 0.12 10.2
459.15 - 463.8 9.08 4.65 0.27 15.3
463.8 - 464.65 143.34 0.85 4.18 2.8
464.65 - 466.2 5.35 1.55 0.16 5.1
466.2 - 467.8 15.67 1.6 0.46 5.2
480.0 - 483.3 12.0 3.04 0.35 10.0
1996 Program
Location Interval Gold Width Gold Width
metres g/t m opt ft
SAT-81 484.0 - 497.3 VG 5.3 13.3 0.15 43.6
693.9 - 697.7 # 3.0 3.8 0.09 12.6
SAT-80 440.2 - 464.7 VG 5.5 24.5 0.16 80.4
SAT-79 439.5 - 440.3 3.2 1.3 .10 4.3 -70
degrees
N315E 468.0 - 469.5 VG 13.0 1.5 .38 5.0
478.0 - 485.5 9.8 7.5 .29 24.6
VG indicates visible gold # Lower zone requires further drilling.
TEL: (416) 597-0969 Charles Gryba, President St Andrew Goldfields Ltd.
TEL: (416) 597-0969 Mark Waychison, IR St Andrew Goldfields Ltd.
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