Saville Resources Inc. Identifies New Target Area and Samples 1.50% Nb2O5 from 2018 Surface Exploration at its Niobium Claim Group Property, Quebec
VANCOUVER, December 5, 2018 - Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the "Company" or "Saville") is pleased to announce theresults of the Company's inaugural mineral exploration at its Niobium ClaimGroup Property (the "Property"). The Property is situated within the central LabradorTrough, approximately 130 km south of Kuujjuaq, Quebec, and covers severalhistorically defined and prospective niobium-tantalum targets.
The primary objective of the field program was to furtherrefine known targets ahead of drilling, as well as define new areas of interestthrough targeted prospecting and a ground magnetic survey. With receipt ofsample assays, the Company is now pleased to report that all its objectiveswere achieved during the program.
Program highlights include:
- Continued discovery of high-grade niobium-tantalum boulders throughout the Southeast Area
- A total of 14 rock samples with assays >0.80% Nb2O5 to apeak of 1.50% Nb2O5
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- Strong tantalum associatedwith best overall samples assaying 0.99% Nb2O5 and 650 ppm Ta2O5, and 0.88%Nb2O5 and 1,080 ppm Ta2O5
- Discovery of new target area withboulder assays of 1.28% Nb2O5 and 0.88% Nb2O5
- Detailed ground magneticsurvey completed over the Miranna and Southeast area targets
- Multiple target areas nowdrill ready
The 2018 surface exploration program was carried-out over anapproximate 3-week period, straddling late-September / early-October, by DahrougeGeological Consulting Ltd. with field operations managed out of Quebec. A totalof 126 prospecting rock samples were collected over the program, dominantly of boulders,with high-grade niobium-tantalum continuing to be discovered on the Property. Atotal of 22 boulders returned niobium assays exceeding 0.70% Nb2O5, with 14samples exceeding 0.80% Nb2O5, and 6 samples exceeding 1.00% Nb2O5 to a peakassay of 1.50% Nb2O5. In addition, strong grades of tantalum continued to be returnedin association with niobium, ranging from 160 ppm to 1,080 ppm Ta2O5 over the14 high-grade boulders that exceeded 0.80% Nb2O5.
The Company is also pleased to announce that the 2018 surfaceprogram has outlined a new target area of interest where only very limitedexploration had been completed prior. The area is located approximately 400 msouth of the historic drill area and is marked by two of the strongestmineralized boulders collected during the program; 1.28% Nb2O5 and 260 ppmTa2O5 (sample 122559), and 0.88% Nb2O5 and 1,080 ppm Ta2O5 (sample 122558). Thetwo boulders are separated by approximately 100 m with glacial ice directionindicating the source is further to the southeast. This area has been subjectedto only a cursory examination, and therefore, the discovery of two well-mineralizedboulders is highly encouraging and expands the prospectivity of the Property.
Company President Mike Hodge comments, "Our improvedunderstanding of the sheer potential of the Property is cause for great interestand momentum. The number and quality of thetargets is considerable and, coupled with the consistently high-grades returnedfrom surface exploration, indicates there is a significant source(s) ofmineralization yearning to be discovered."
In addition to the targeted prospecting, a ground magneticsurvey was completed over the Miranna and Southeast area targets. The surveywas very successful in further delineating targets and potential rock unit contacts.Specifically, the survey delineated further the Miranna Target, as well as the MoiraTarget, located approximately 250 m further north, where a strong and distinctanomaly was revealed. Analysis of several overlapping boulder trains in thearea suggest that Moira may be one of several interpreted sources ofmineralization, and therefore, is now a higher priority target following therecent program.
The data collected from the 2018 field exploration iscurrently being integrated into the historical dataset with interpretation, drillcampaign planning, and drill hole prioritization well-advanced.
All samples were analyzed by Activation Laboratories Ltd. theAncaster, ON facility for major oxide, rare earths, and trace elements byfusion ICP and ICP/MS, tantalum and niobium by XRF, and for fluorine by FusionSpecific Ion Electrode-ISE.
The Company is also pleased toannounce that it has entered into an agreement with Zimtu Capital Corp. ("Zimtu") (TSX.V: ZC; FSE:ZCT1) whereas Zimtu shall provide its ZimtuADVANTAGEprogram.
ZimtuADVANTAGE is a programdesigned to provide opportunities, guidance, cost savings and assistance toclients covering multiple aspects of being a public company. The services mayinclude building financial networks, building business networks, shared costswith other public companies, building a social media presence, conferenceopportunities, media outlets and guidance and special group pricing provided byZimtu's network of public company professionals. The program provides theflexibility to allow companies to customize the products and services to bestsupport their needs. Under the terms of the Agreement, Zimtu shall receive$8,333 per month, payable in advance for a period of twelve months.The contract has been filed and approved bythe TSX Venture Exchange.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge GeologicalConsulting Ltd., a Qualified Person as defined by National Instrument 43-101,supervised the preparation of the technical information in this news release.
AboutSaville Resources Inc.
The Company's principal asset is the Niobium Claim GroupProperty, currently under Earn-In Agreement from Commerce Resources Corp. forup to a 75% interest. The Property consists of 26 contiguous mineral claims,encompassing an area of approximately 1,223 hectares, and is considered highlyprospective for niobium and tantalum. The Property includes portions of thehigh-priority, and drill ready, Miranna Target where prior boulder sampling inthe area has returned 5.9% Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwestand Southeast areas where previous drilling has returned wide intercepts ofmineralization, including 0.61% Nb2O5 over 12.0 m (EC08-008) and 0.82% Nb2O5 over21.9 m (EC10-033), respectively.
On Behalf of the Board of Directors
"Mike Hodge"
Mike Hodge
President
Tel: 604.681.1568
Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information whichis subject to a variety of risks and uncertainties and other factors that couldcause actual events or results to differ from those projected in theforward-looking statements. Forward looking statements in this press releaseinclude that the work completed has outlined a new target area of interest;that the the sheer potential of the Property is cause for great interest andmomentum; and that the 2018field exploration is currently being integrated into the historical datasetwith interpretation, drill campaign planning, and drill hole prioritizationwell-advanced . These forward-looking statements are subject to a variety ofrisks and uncertainties and other factors that could cause actual events orresults to differ materially from those projected in the forward-lookinginformation. Risks that could change or prevent these statements from coming tofruition include changing costs for mining and processing; increased capitalcosts; the timing and content of upcoming work programs; geologicalinterpretations based on drilling that may change with more detailedinformation; potential process methods and mineral recoveries assumption basedon limited test work and by comparison to what are considered analogousdeposits that with further test work may not be comparable; the availability oflabour, equipment and markets for the products produced; and despite thecurrent expected positive results of the property and potential viability ofthe project, conditions changing such that the minerals on our property are notof sufficient quality or quantity, or cannot be economically mined, or that therequired permits to build and operate any envisaged mine can be obtained. Theforward-looking information contained herein is given as of the date hereof andthe Company assumes no responsibility to update or revise such information toreflect new events or circumstances, except as required by law.
SOURCE: Saville Resources Inc.
