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Exploration at Taylor Project pays off for St Andrew Goldfields

Last updated: 12:33 09 Mar 2011 GMT, First published: 13:33 09 Mar 2011 GMT

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Exploration activities by gold producer St Andrew Goldfields (TSE:SAS) appear to be reaping dividends. The company reported this morning that ongoing drilling at the Taylor Project discovered a new zone of gold mineralization in the footwall to the West Porphyry Zone.  Drilling has also identified possible extensions to the Shoot Zone.

Some of more notable intercepts in the Shoot Zone included 2.4 meters grading 12.1 grams per tonne gold in hole SZ-015. Meanwhile, results from the West Porphyry Zone returned 10.5 meters grading 3.24 grams per tonne gold in hole TA10-14, 25.1 meters grading 2.11 grams per tonne gold in hole TA10-016 and 11.3 meters grading 4.94 grams per tonne gold in hole TA11-002. 

All three intersects included high grade zones returning up to 56.4 grams per tonne gold.

"Drilling on the West Porphyry Zone continues to confirm the presence of multiple zones of mineralization where recent drilling has identified a new zone of gold mineralization 60 metres below the previously defined zones," St Andrew Goldfields noted to investors.

"This newly defined zone extends westwards onto the recently acquired Bourgeois claim along a strike length of approximately 600 metres. The zone varies in thickness along strike from 2 metres to 25 metres and remains open in all directions."

The Taylor Project is located along the Porcupine‐Destor Fault Zone, approximately 53km east of Timmins, and hosts two gold deposits, namely the West Porphyry and Shoot zones. The recently acquired Bourgeois claim is an area of land that lies between the Shoot Zone and West Porphyry Zone, where no previous exploration work has been conducted.

The company said that like drilling at the West Porphyry Zone, hole SZ-015 on the Shoot Zone also identified a down dip extension to the southeast onto the Bourgeois claim.

Current drilling at the Taylor project will look to infill the resource shape and increase confidence, as well as continue to test for additional extensions of known mineralization onto the new Bourgeois area. Since the beginning of January, a total of six holes for 2,544 metres of drilling has been completed at the property, with results still pending for a majority of the holes.

The two known gold deposits, the Shoot and West Porphyry Zones, contain measured and indicated mineral resources totaling 1.4 million tonnes grading 7.6 g/t Au and inferred resources of 737,000 tonnes grading 9.1 g/t Au.
 
"We intend to continue to work on the Taylor Project throughout the course of this year, and will be looking forward to the possibility of increasing the current level of resources in the future," said president and CEO Jacques Perron.




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