<significant highlights from recent SAS Release>

St. Andrew drills 24 m of 10.22 g/t Au at Hislop North

2012-12-10 08:52 ET - News Release

 

Mr. Jacques Perron reports

SAS REPORTS SIGNIFICANT INTERCEPTS AT ITS HISLOP NORTH PROJECT AND ADDITIONAL RESULTS FROM THE GHOST AND SMOKE DEEP TARGETS

St. Andrew Goldfields Ltd. has released drilling results from the Ghost zone, located near the Holt mine, the Hislop North project, northwest of the Hislop mine and underground drilling east of the Smoke Deep zone at the Holloway mine.

Highlights of drilling results

Hislop North project:

 

  • H12-015: 4.45 grams per tonne gold over 9.0 metres;

 

 

  • H12-019: 17.70 g/t Au over 1.2 m including 32.00 g/t Au over 0.5 metre;

 

 

  • H12-024: 0.87 g/t Au over 28.7 m including 0.97 g/t Au over 19.5 metres;

 

 

  • H12-029: 5.31 g/t Au over 6.1 metres and 10.22 g/t Au over 24.0 m including 11.91 g/t Au over 8.5 metres.

 

Ghost zone:

 

  • GZ12-028: 5.30 g/t Au over 3.6 metres;

 

 

  • GZ12-035: 12.20 g/t Au over 1.4 metres.

 

Smoke Deep zone:

 

  • 780-748: 5.30 g/t Au over 14.8 metres;

 

 

  • 780-750: 6.82 g/t Au over 9.6 metres.

 

All lengths reported at Hislop North and Smoke Deep are reported as core length as true width is not available at this time. Ghost intercepts are reported as true width. High-grade assays at Ghost and Hislop are capped at 32.00 g/t Au, high-grade assays at Smoke Deep are capped at 25.00 g/t Au.

"Our exploration programs continue to return positive and encouraging results," said Jacques Perron, president and chief executive officer of SAS. "We are happy with the recent results from the near-mine targets and believe these new zones of mineralization will benefit our resources at year-end. With continued drilling in 2013, we are confident we will be able to continue to increase resources and extend the mine life at our operations."

Hislop North Project

At the end of the second quarter, SAS added a second surface drill to accelerate its efforts at Hislop North. Drilling continues to return anomalous gold grades over significant widths including drill hole H12-029 which returned the highest-grade drill intercept on the Hislop property to date.

Recent intersections include H12-015 which returned 4.45 g/t Au over 9.0 metres hosted within a brecciated albitic mafic volcanic with significant quartz veining. Hole H12-019 returned 17.70 g/t Au over 1.2 metres which was significant as it has effectively confirmed the presence of a second zone of mineralization situated approximately 500 metres southwest of the 147, Grey Fox South and Hislop North trend. Hole H12-029 returned 10.22 g/t Au over 24.0 metres including 11.91 g/t Au over 8.5 metres and 23.22 g/t Au over 5.9 metres, and hole H12-024 returned 0.87 g/t Au over 28.7 metres which intercepted a zone of broad lower-grade anomalous mineralization situated in the northeast corner of the claim block.

Expansion of the mineralization remains open in all directions and the company plans to continue drilling on this target for the remainder of the year. SAS recently completed a series of geophysical surveys over the Hislop North area consisting of both ground magnetics, and borehole and ground-induced polarization surveys. Aggressive follow-up on these recent drill results and geophysical targets is in progress at this time.

 

               HISLOP NORTH 2012 SURFACE DRILLING PROGRAM                                     Core      True          GoldHole No.        From         To    length     width         grade                  (m)        (m)       (m)       (m)         (g/t)H12-015552100   46.5       55.5       9.0        ND          4.45      Including       46.5       49.3       2.8        ND          9.11      H12-019551400   96.6       97.8       1.2        ND         17.70      Including       96.6       97.0       0.5        ND         32.00      H12-021552250  533.2      540.0       6.8        ND          3.73      Including      535.8      536.5       0.7        ND         22.15      H12-024552600  536.1      564.8      28.7        ND          0.87      Including      545.3      564.8      19.5        ND          0.97      H12-029552165  151.4      157.4       6.7        ND          5.31      And            363.4      387.4      24.0        ND         10.22      Including      363.4      372.0       8.5        ND         11.91      Including      381.5      387.4       5.9        ND         23.22      H12-030552200  155.1      155.7       0.6        ND         24.20