Thursday 9th April 2020

Resource Clips



Update: Saville Resources reports B.C. Greenwood sample results, vends project

by Greg Klein | March 2, 2020, updated March 3, 2020

Update: On March 3 Saville Resources announced the sale of its Bud property to Ximen Mining TSXV:XIM for 388,888 Ximen shares, subject to TSXV approval.

A company focused on critical minerals in Quebec has also kept busy in an historic southern British Columbia mining camp. On March 2 Saville Resources TSXV:SRE released grab sample assays from a 2019 field program at the Bud property in the Boundary district that includes the Republic, Belcher, Rossland and Greenwood camps of B.C. and Washington. Some highlights included:

  • 3.84 g/t gold, 105 ppm cobalt, 2,200 ppm copper and 824 ppm zinc

  • 1.52 g/t gold, 247 ppm cobalt, 4,070 ppm copper and 50 ppm zinc

  • 0.864 g/t gold, 476 ppm cobalt, 6,540 ppm copper and 127 ppm zinc
Saville Resources reports B.C. Greenwood sample results

Grab samples from the previous year reached up to 4.57 g/t gold, 27.7 g/t silver and 6.7% copper; as well as 4.44 g/t gold, 17 g/t silver and 6.84% copper.

Saville stated the 381-hectare property potentially hosts copper-gold skarn mineralization similar to the Motherlode and Sunset properties 500 metres away that had historic production of 4.2 million tonnes averaging 0.8% copper and 1.3 g/t gold. The company also sees potential for gold-bearing epithermal veins.

Reporting on its flagship Niobium Claim Group in northern Quebec last month, Saville announced completion of a preliminary mineralogical analysis conducted as part of a University of Windsor research project. Among the results, the study found three encouraging signs for the project:

The dominant niobium minerals are pyrochlore and columbite, a potential processing advantage with the most common minerals for niobium globally.

The niobium may have been mobilized, which might enhance a project’s grade.

The mineralogy supports a model of a continuous niobium-mineralized trend through the complex.

Saville drew parallels between the project’s Mallard prospect and Magris Resources’ Niobec mine in Quebec. Both feature carbonatites, while Niobec’s mineralization is hosted by pyrochlore and columbite similar in grain size to that found in Mallard’s preliminary analysis. Additionally, both Mallard and Niobec show mineralization in moderate to steeply dipping elongate lenses.

Following near-surface, high-grade niobium and tantalum intercepts from last year’s drilling, Saville plans further exploration this year. The company also plans to evaluate the property’s fluorspar potential after reviewing impressive historic grades for calcium fluoride.

Niobium, tantalum and fluorspar appear on the United States list of 35 critical minerals. Amid increasing concern, in January the U.S. and Canada signed a Joint Action Plan on Critical Minerals to develop deposits and supply chains.

Saville operates the Niobium Claim Group under a 75% earn-in from Commerce Resources TSXV:CCE, which holds the advanced-stage Ashram rare earths deposit two kilometres away.

Read more about Saville Resources.

Share |

View All: News Stories