saville resources inc (SRE:Venture)
saville resources inc (SRE) Snapshot
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C$0.03
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C$0.03
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C$0.03
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C$0.03
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52 Week High
06/12/12 - C$0.14
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52 Week Low
03/8/13 - C$0.03
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Market Cap
452.8K
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Average Volume 10 Days
1.1K
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EPS TTM
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Shares Outstanding
15.1M
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EX-Date
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Dividend Yield
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Saville Resources Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral resource properties in British Columbia. It primarily explores for gold and copper. The company holds a 100% interest in 5 mineral claims covering approximately 2,280 hectares located in Manson Creek, British Columbia. It also has an option to acquire a 100% interest in the Bud Property in the Greenwood Mining Division of British Columbia. The company was incorporated in 1987 and is headquartered in Vancouver, Canada.
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saville resources inc (SRE) Key Developments
Saville Resources Inc. announced results of the recently completed soil sampling program on the newly acquired Wolf Claims consisting of 4 contiguous mineral claims located in historic Manson Creek, 136 kilometers northwest of Fort St. James, in the Omenica Mining Division of north central BC. The claims cover an area of approximately 1,824 hectares and are accessible by logging roads. The work program was planned to determine if extensions of a gold and silver-bearing galena vein exposed by trenching on a neighbouring claim would project onto the Wolf claims. 203 soil samples were collected from flagged lines at 200 metre line spacings with samples collected every 25 metres along the lines. The sampling was completed on two areas, Area A located to the NW of the galena vein, and Area B to the SE. Results from Area A failed to define any anomalies that extend beyond a single line. Much of this area is overlain by thick overburden deposits in the Manson Creek Valley so any geochemical expression related to mineralization may be masked. However, Area B's sampling program did delineate a very distinct silver-lead-zinc anomaly that is present on all four soil lines. The anomaly trends at approximately 100° over a strike length of 800 metres, has a width of 50-75 metres and is open to the west and east. It does not appear to line up with the apparent trend of the existing galena vein. Nonetheless it forms a distinct trend and could well be a subparallel structure or a splay structure from the main Manson Creek fault. The anomaly is characterized by anomalous silver-lead-zinc. On three of the four lines sampled (Lines I-J, K-L and M-N) silver values consistently exceed 1g/t, ranging from 1.05 to 3.14 g/t silver. On the fourth line where the anomaly is present, (Line O-P) silver values are in the range of 0.3 g/t silver. Lead and zinc are consistently elevated within and proximal to this trend, the values range considerably from line to line but are always elevated in this trend relative to the samples flanking the trend; this was used to help determine the location of the trend on line O-P. Lead values within the trend range from 5.2-102 ppm. Zinc shows a similar relationship; values within the trend range from 57-373. This trend is not likely affected by glaciation. The soil anomaly is on a moderately steep hill above the river valley bottom. Many of the samples reached bedrock and some are a mix of B and C-horizons as shale rock chips were commonly observed in the soil pits. On occasion pyrite-bearing quartz fragments were also noted. None of the soils were analyzed for gold to see if the same gold-silver relationship seen at the galena vein to the northwest exists within the soil data. There are multiple scattered silver-lead-zinc values to the north of the anomalous trend. It is not clear if some of these represent a sub-parallel vein structure or are the results of downslope dispersal of the stronger anomaly upslope. Follow-up work for 2013 will include infill soil sampling at 100 metre line spacing to further delineate the anomaly. In addition geological mapping and sampling will be undertaken to see if a bedrock source for the anomaly can be located. Hand trenching may be considered over the strongest portion of the geochemical anomaly if overburden depths are not too great. Based on the results the company staked an additional mineral claim to cover potential strike extension further to the southeast. Soil sample lines will be completed on the new claim to see if the same geochemical anomaly is present.
Saville Resources Inc. announced the results from their recently completed work program on the Bud-Elk property near Greenwood, in southern B.C. The 2012 program was successful in identifying two new areas of mineralization on the property. Disseminated chalcopyrite occurs in pyritic chert at the Iron Top zone and can be traced, intermittently in outcrop, for approximately 500 metres. Rock sample results to 0.91% Cu and 1.41 g/t Au were returned from grab samples within this area. Two old pits at the eastern end of the mineralized trend expose epidote-hematite-magnetite skarn with minor pyrite and chalcopyrite. A grab sample from the dump of one of these pits returned 0.58% Cu and 0.82 g/t Au. At the XLCR showing, altered diorite with minor disseminated pyrite and chalcopyrite, similar to that seen at the Buckhorn zone, is exposed. A grab sample from the dump of a historic exploration shaft at the XLCR showing returned 0.28% Cu and 0.28 g/t Au. The 2012 program was also successful in defining several significant soil anomalies that warrant follow-up. Copper values were strongly anomalous in soils over a large area encompassing the Buckhorn, Moreen and XLCR showings. Anomalous molybdenum values, plus spotty but frequent anomalous gold values, occur within the area of anomalous copper. The strongest portion of the copper soil anomaly is a 400 metre long by 150 - 300 metre wide zone which covers and extends west from the Buckhorn and Moreen showings. Within this zone, copper values in soil range up to 2870 ppm Cu and gold values range up to 685 ppb Au. A second strong copper soil anomaly occurs in the northwest portion of the grid. The soil anomaly includes values to 943 ppm Cu in soil and is open to the west. Cobalt and gold values in soil (to 145 ppb Au) are elevated peripheral to the copper anomaly.
Saville Resources Inc. is commencing exploration on the company's Bud-Elk property, near Greenwood in southern B.C. Work will be focused in the vicinity of the Buckhorn and Moreen showings, where previous work by the company encountered porphyry-style copper-gold mineralization over significant widths in excavator trenches. Results from trenching at the Buckhorn Zone included 45 metres grading 0.57% Cu and 0.4 g/t Au in one trench and 43.5 metres grading 0.37% Cu and 0.6 g/t Au in a second trench. Several hundred metres west-northwest of the trenched zone, an area of copper-gold mineralization was discovered by prospecting. Samples from this area returned 1.71% Cu and 1.48 g/t Au in one sample and 1.18% Cu and 0.64 g/t Au in a second sample. This area may be the northwestern continuation of the Buckhorn zone. The fall 2012 program will consist of a soil geochemical survey, geological mapping and additional rock sampling and is designed to follow-up on the previous results and define targets for trenching and for diamond drilling.
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