Saville Resources Inc. Completes its First Drill Holes at the Miranna Prospect on its Niobium Claim Group Property, Quebec
July 29, 2021 at 04:10 pm EDT
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Saville Resources Inc. announced that it has completed four (4) drill holes at the Miranna Prospect as part of its 2021 diamond drill program at its Niobium Claim Group Property (the "Property"), located in northern Quebec. The program is being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB, with drilling operations being carried out by Logan Drilling Ltd. of Stewiacke, NS. The Company moved to the Miranna Prospect for its maiden drill testing after completing three (3) drill holes totalling approximately 681 m at the Mallard Prospect, located approximately 1 km to the southeast (see news release dated July 22nd, 2021). At Miranna, four (4) drill holes totalling approximately 668 m have now been completed, ranging in depth from 140 m to 236 m. The first two holes tested the eastern margin of the magnetic high that defines the target, with the next two holes targeting the central and northern margins of the target, respectively. The Company reported that coarse-grained (up to 0.5 cm) pyrochlore mineralization has been observed in each Miranna drill hole, primarily hosted within a magnetite-calcite Carbonatite rock unit. This rock unit correlates with one of several distinct mineralized boulder trains that have been traced to the magnetic anomaly being drill tested. Miranna is characterized by a strongly mineralized (niobium-tantalum-phosphate), glacially dispersed boulder train with an apex that correlates with a distinct magnetic high anomaly, which is interpreted to be the source. Sample assays of the mineralized boulders from the train include 5.93% Nb2O5, 310 ppm Ta2O5, and 11.5% P2O5; and 4.30% Nb2O5, 240 ppm Ta2O5, and 13.4% P2O5; as well as multiple additional samples grading >1% Nb2O5. The drill holes at Miranna are targeting the interpreted bedrock source of this mineralized boulder train. To date a total of approximately 1,348 m of NQ size coring over seven (7) drill holes have been completed in the program with the drill now mobilized to the Ashram Deposit located nearby for drilling as part of Commerce Resources Corp.'s field program. The Company was able to exceed its target meterage (1,000 m) for the program due excellent coring rates and program management. The drill core is currently being logged in detail ahead of sampling and shipment to the lab for assay with results to be released as received. The Company notes that it will carry-out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The Company has successfully navigated the process to enter Nunavik and obtained authorization to complete its planned field activities. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
Saville Resources Inc. is a Canada-based exploration stage company. The Company is focused on the global acquisition, exploration, development and mining of mineral properties. The Company holds interests in mineral properties in Quebec and focuses on expanding its portfolio of mineral properties. The Company's primary asset is the Niobium Claim Group Property located in Nunavik, Quebec (the Property). The Company holds an option to acquire up to a 75% interest in the Property from Commerce Resources Corp. The Property is an early-stage mineral exploration asset and is prospective for carbonatite-hosted niobium, tantalum, phosphate, and fluorspar. Its Covette Property, which consists of about 65 mineral claims totaling approximately 3,370 hectares, is located in Quebec's James Bay region, about 190 kilometers east of Radisson, QC.