VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 5, 2017) - Savant Explorations Ltd. (TSX VENTURE:SVT) (the "Company") announces the Company has arranged a private placement of $500,000 at a price of $0.05 per common share, subject to regulatory approval. Certain insiders have agreed to participate and the common shares to be issued pursuant to this private placement will be subject to a hold period expiring four months and one day from closing. The proceeds will be used to advance the Company's wholly-owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01% zinc in the Indicated category and 2.68 million tons with a grade of 5.98% zinc in the Inferred category plus significant values of copper, silver and gold. Historical metallurgical testing indicates favourable recoveries of zinc and other metals. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company's website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
