Friday 17th August 2018

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Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

by Greg Klein | August 8, 2018

A property with limited exploration but encouraging geophysics shows further promise following a recent field program. Of eight surface samples collected by Saville Resources TSXV:SRE on its 3,370-hectare Covette project in Quebec’s James Bay region, one returned 1.2% zinc and 68.7 g/t silver, while three others assayed between 0.13% and 0.19% nickel.

Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

Saville Resources now plans trenching and channel
sampling to follow Covette’s grab sample assays.

Sampling took place along a visible strike of about 200 metres directly above an area of high conductivity found by a 2016 VTEM program that spotted several EM conductors coinciding with strong magnetic anomalies.

Underlying the region is a greenstone belt “comprised of various mafic to ultramafic rock units considered prospective for base and precious metals (nickel-copper-cobalt-platinum group elements-gold-silver), as well as pegmatite-hosted rare metals (lithium-tantalum),” Saville reported. “Komatiites have also been described in the region with such rock types known to host significant nickel-copper massive sulphide deposits at other localities globally, adding further to the prospective nature of the region.”

A sampling program in 2017 brought 0.18% nickel, 0.09% copper and 87 ppm cobalt. One historic, non-43-101 grab sample returned 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver. Another historic sample showed 1.2 g/t silver and 0.18% copper.

Further plans include follow-up trenching and channel sampling. Saville filed a 43-101 technical report on the property and closed its 100% acquisition in June.

Covette sits about 190 kilometres east of the town of Radisson and 10 kilometres north of the all-weather Trans-Taiga road and the adjacent hydro-electricity transmission line.

In another northern Quebec project, Saville has a 43-101 technical report underway for the Miranna claims situated on the Eldor property that hosts Commerce Resources’ (TSXV:CCE) advanced-stage Ashram rare earths deposit. Saville would acquire a 75% earn-in subject to exchange approval. In April the companies released niobium-tantalum boulder sample grades as high as 4.3% Nb2O5 and 700 ppm Ta2O5.

Last month Saville offered two private placements totalling up to $2 million.

Read more about Saville Resources.

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