Savant Initiates New Copper Exploration Strategy in Southwest US: Executes Agreements on Three Copper Porphyry Properties From

Savant Initiates New Copper Exploration Strategy in Southwest US: Executes 
Agreements on Three Copper Porphyry Properties From Eurasian
Minerals 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/30/13 -- Savant
Explorations Ltd. (TSX VENTURE:SVT) ("Savant") has initiated a copper
exploration and discovery strategy in the Southwest United States,
which contains some of the premier copper districts in the world. As
the first step to this strategy, Savant, through its wholly owned
U.S. subsidiary Keystone Mines Inc., has successfully negotiated
three earn-in agreements (collectively referred to as the
"Agreements") with Eurasian Minerals Inc. (TSX VENTURE:EMX)(NYSE
MKT:EMXX) ("Eurasian") through its wholly owned subsidiary Bronco
Creek Exploration Inc. ("BCE") for three high-quality properties.
Under the terms of the Agreements, Savant may earn up to a 100%
interest in each of the Jasper Canyon, Buckhorn and Frazier Creek
copper porphyry properties, through a two stage earn-in over a
maximum 10 year period, subject to certain royalties retained by BCE.
The main terms of the Agreements and a summary of the properties are
provided below. 
The first year work commitments and cash payments required for all
three properties is less than $250,000 and will be easily funded from
Savant's current working capital, which includes a recently received
tax refund of $304,000 (see Savant's news release dated October 24,
2013). 
The Opportunity 
The Southwest United States is well-endowed with large porphyry
copper deposits that occupy the top end of the grade and tonnage
curve. More than 20 deposits contain in excess of one billion tonnes
of resources, 14 of which have an average grade exceeding 0.50% Cu.
Many of the deposits contain significant gold, silver and molybdenum
by-products. Although most of the known deposits occur in exposed
basement rocks, up to 70% of the region is concealed beneath post
mineral cover that has seen only limited exploration. There is no
geological reason for deposits not to occur in these covered areas.
The relatively recent discovery (1996) of the giant high-grade
Resolution Deposit (1.7 billion tonnes grading 1.52% Cu) under cover
in Arizona demonstrates this hidden opportunity, although there is no
assurance that further exploration will lead to discovery or
development of such a deposit. New understanding of the geological
framework of the region and a significant database of regional
geophysics provides a better understanding of ore-controlling
structures and basement geometry and provides focus on the highest
priority areas. 
The region is rated highly by the Fraser Institute as a favourable
mining jurisdiction for taxation, regulation and labour. Exploration
permits are easily attainable, and with an agreeable climate and good
access and infrastructure (roads, rail, power, and existing smelters)
year round exploration and development is possible. 
Leading Savant's new copper exploration and discovery strategy is
President and CEO, Jack McClintock, former Exploration Manager of BHP
Billiton's mineral exploration group. Mr. McClintock was the team
leader on the discovery of the Spence Copper-Molybdenum mine in Chile
(annual production of 180,000 tonnes of copper), a blind discovery
made under pediment (alluvium) cover similar to that found in the
Southwest U.S. Mr. McClintock states: 
"Over the course of this year, Savant has reviewed and assessed over
40 projects and properties in North America with the objective of
identifying a region with low political risk, low entry cost, low
exploration costs and the capability of generating major new
discoveries of large-tonnage, high-margin mineral deposits. The
properties Savant is acquiring from Eurasian Minerals are of
exceptional quality and achieve this objective. The acquisition
represents the first step in Savant building a portfolio of high -
quality properties in one of the world's premier porphyry copper
regions." 
The Properties 
Additional information including maps and an updated presentation can
be found at Savant's website at www.savantexplorations.com. 
Buckhorn 
The Buckhorn Creek property contains a newly identified porphyry
copper prospect located approximately 25 kilometres east-northeast of
Wickenburg, Arizona. The property is 1637 Hectares in size consisting
of 155 lode claims and one state exploration permit largely covered
by post mineralization volcanic rocks. At the contact between the
basement and younger covering volcanic rock is a distinct red-matrix
conglomerate containing clasts of porphyry and crystalline basement
rocks exhibiting porphyry-related alteration that are leached of
sulphides (leach cap). Exotic copper mineralization in the form of
various types of copper oxide minerals also occurs with these clasts. 
The presence of both leach cap fragments and exotic copper oxide in
this type of basal conglomerate suggests there may be a nearby
enriched porphyry copper deposit concealed beneath the covering
volcanic rocks. The basement rocks adjacent to the capping volcanics
are weakly altered and contain widely spaced, stringer-like,
copper-mineralized quartz veins suggesting a distal alteration to a
potentially larger porphyry copper system. The follow up of a
similarly appearing conglomerate at the base of a post mineralization
cover led to the discovery of BHPB's Spence copper deposit in
Northern Chile. In the case of the Spence deposit, the deposit was
found within 2 kilometres of the copper and leach cap bearing
conglomerate. 
Jasper Canyon 
The Jasper Canyon property consists of 163 lode mineral claims
covering a 1,276 Hectare area located about 8 kilometres northwest of
Globe, Arizona and approximately 110 kilometres east of Phoenix.
Savant's technical team believes there is potential to discover
either an enriched porphyry copper deposit beneath shallow post
mineralization cover rocks or a more deeply buried porphyry copper
deposit with high-grade primary sulphide (hypogene) copper grades
similar to those found at the nearby Resolution and Ray deposits. The
potential for a porphyry copper deposit on the property is indicated
by the recently interpreted extensional fault regime that includes
the Pinto Valley deposit (recently acquired by Capstone Mining) and
the Copper Cities deposit. Based on this interpretation, the fault
displaced upper portion of the Copper Cities deposit would lie to the
northeast in the direction of the Jasper Canyon property. Additional
evidence for the presence of a possible porphyry deposit on the
Jasper Canyon property include numerous copper and base metal vein
occurrences that occur in an arc-like distribution along the eastern
margin of the property. Peripheral copper and base metal veins are a
common feature of copper deposit deposits both in the Globe Miami
District and elsewhere in the world. The presence of both diabase and
limestone near the property increases the chance for higher hypogene
grades as these rock types are associated with higher copper grades
at both the nearby Ray and Resolution deposits. To date, work on the
property has shown no evidence for previous drilling within the
property boundaries. 
Frazier Creek 
The Frazier Creek property consists of 71 lode claims covering 570
hectares, located approximately 40 kilometres north of the town of
Eureka Nevada. The property covers moderately to intensely silicified
and hydrothermally dolomitized Devonian limestone. Past exploration
identified widespread anomalous copper and molybdenum values in
silicified and dolomitized bedrock over a 1.8 km x 0.8 km area. The
highest copper and molybdenum mineralization occurs within areas of
intense silicification and narrow sulphide mineralized structures. In
a shallow historical working, a grab sample containing 0.8% copper
and 0.008% molybdenum, was collected from a sericitically altered
feldspar porphyry dyke, which may suggest the presence of a larger
mineralized porphyry body at depth. 
The presence of anomalous copper and molybdenum within a large area
of strong to intense silicification, dolomitization and an altered
porphyry dyke suggests that there is potential to find a copper -
molybdenum bearing porphyry deposit within a few hundred metres of
surface. Limestone would be an excellent host rock for the formation
of copper skarn mineralization and increases the probability of
higher grade copper mineralization in any primary copper porphyry.
The only known drilling within the target area is a shallow churn
drill hole drilled in the mid-1960s. The results from the churn drill
hole are unknown. 
Initial Work Program 
Over the next several months, Savant plans on conducting detailed
geological mapping, grid-based geochemical sampling and preliminary
geophysical assessment on all three properties in order to prioritize
areas for subsequent detailed geophysical surveying and drill
testing. 
The Agreements 
Each property will be governed by a separate agreement, each
containing the same main business terms and conditions. 
Main Business Terms 
For each of the three properties, Savant may earn an initial 60%
interest (the "Initial Interest") over a five (5) year term by
completing the following: 


 
                                              Per Each Agreement/Property   
                                          ----------------------------------
                                                  Cash           Exploration
                                              Payments          Expenditures
                                                 ($US)    Shares       ($US)
----------------------------------------------------------------------------
Upon execution of the Agreements and                                        
 approval from the TSX Venture Exchange    $    12,500   150,000           -
----------------------------------------------------------------------------
By the first anniversary of the Agreements               100,000 $    70,000
----------------------------------------------------------------------------
By the second anniversary of the                                            
 Agreements                                     30,000   100,000     200,000
----------------------------------------------------------------------------
By the third anniversary of the Agreements               100,000     500,000
----------------------------------------------------------------------------
By the fourth anniversary of the                                            
 Agreements                                              150,000     650,000
----------------------------------------------------------------------------
By the fifth anniversary of the Agreements  (i)300,000   200,000     650,000
----------------------------------------------------------------------------
Total                                      $   342,500   800,000 $ 2,070,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(i) To complete the earn-in of the Initial Interest payable in cash or      
shares (at Savant's election)                                               

 
Once Savant has earned the Initial Interest, Savant may then elect
either to: 


 
I.  Enter into a joint venture agreement with BCE to jointly develop the
    property (with Savant owning a 60% interest and BCE owning a 40%
    interest); or, 
 
II. Earn an additional 40% interest in the property, for a total of 100%
    (the "Second Earned Interest") by incurring an additional US$10 million
    in exploration expenditures by the fifth anniversary of the date Savant
    earns the Initial Interest and paying US$500,000 to BCE in cash or
    shares (at Savant's election) to complete the earn-in to 100%. If Savant
    does not complete the requirements to earn the additional 40%, Savant's
    interest will remain at 60% and the parties will revert to a joint
    venture. 

 
Once a joint venture is formed, BCE may then elect within 60 days of
the formation of the joint venture to convert its 40% interest in the
property into a 2.5% Net Smelter Returns Royalty ("Royalty") with
Savant retaining a 100% interest in the property. If BCE does not
elect to convert its interest to a Royalty and the joint venture is
formed, then if either party's participation in the joint venture is
diluted to 15% or below, its interest in the joint venture shall be
terminated and it shall receive the Royalty. Once Savant earns the
Second Earned Interest and owns 100% of property, BCE will retain a
Royalty. Savant may buy-down 0.5% of the NSR for $2.0 million. 
Upon conversion of BCE's interest to a Royalty, Savant will commence
paying an annual advanced minimum royalty (AMR) to BCE on the first
anniversary of the conveyance of the Royalty to BCE. If the Royalty
is conveyed to BCE prior to Savant earning the Second Earned
Interest, the AMR will consist of US$50,000 in each of the first two
years, US$75,000 in each of the third and fourth year and US$100,000
per year from the fifth year until the earlier of the commencement of
commercial production or the 20th anniversary of the conveyance. If
the Royalty is conveyed to BCE after Savant earns the Second Earned
Interest, the AMR will consist of US$200,000 per year up until the
earlier of the commencement of commercial production or the 20th
anniversary of the conveyance. Savant may reduce or suspend the AMR
payments under certain conditions as provided in the Agreement. Each
of the AMR payments shall be set off against the Royalty payable to
BCE upon the project being brought into commercial production. 
Other provisions of the Agreements 


 
--  The Agreements are subject to receipt of required regulatory approvals
    and to completion of final documentation. 
--  Savant will be the Operator of each agreement so long as it holds a
    majority interest in the respective property. 
--  Each property will be bounded by a two (mile) Area of Interest. 
--  Exploration Expenditures incurred in any year during the initial earn-in
    period that exceed the annual minimum amounts required may be carried
    forward and applied to subsequent years of the initial earn-in period.
    In addition, if Savant elects the Second Earn-In Right, excess
    Exploration Expenditures incurred in the Initial Earn-In Period may be
    carried forward and applied as a credit to Exploration Expenditures
    which are to be made during the Second Earn-In Period. 
--  Savant will pay BCE U.S. $75,000 upon completion of a Preliminary
    Economic Assessment on each property. 
--  Savant may elect to pay cash to BCE in lieu of any shortfalls incurred
    in any period in which it is required to incur exploration expenditures,
    and may accelerate the schedule to make the option payments, incur
    exploration expenditures or make the AMR payments. 
--  If on the fir
st anniversary of the Agreement Savant has not terminated
    the Initial Earn-In Right with respect to any of the three Agreements,
    then in the second year Savant may elect to keep the Initial Earn-In
    Right with respect to all Agreements in force by expending a minimum of
    $100,000 on each Project provided that the remaining balance of the
    $600,000 be expended on any one or more of such Projects, subject to the
    carry forward provisions. 

 
About BCE and Eurasian Minerals 
BCE (Bronco Creek Exploration Inc.) is a wholly owned subsidiary of
Eurasian Minerals focused on copper and gold exploration in the
western United States. Eurasian is a global gold and copper
exploration company utilizing a partnership business model to explore
the world's most promising and underexplored mineral belts. Eurasian
generates wealth via grassroots prospect generation, strategic
acquisition and royalty growth. 
About Savant 
Savant is an exploration and development stage company focused on
generating and exploring high quality precious and base metal
properties in stable jurisdictions. Savant has recently initiated a
new exploration and discovery strategy in Southwest United States
with the acquisition of the Buckhorn, Jasper Canyon, and Frazier
Creek properties. Savant's other properties and assets are 100% owned
with combined annual holding costs of approximately $30,000. Savant
has a partner funding the Yuby Gabriela copper property in Chile with
the next option payment of US$1,000,000 due to Savant at the end of
April 2014. Savant also owns two other high-quality properties, Blue
Moon and Yava that Savant's management is seeking to monetize for
maximum value to Savant and its shareholders. 
John McClintock, P. Eng. CEO of Savant is the Qualified Person, as
defined by National Instrument 43-101, responsible for the technical
data in this news release. 
More information on the Company's activities is available at the
Company's web site at www.savantexplorations.com. 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
This news release contains forward-looking statements. These
statements are based on assumptions and judgments of management
regarding future events or results that may prove to be inaccurate as
a result of failure to obtain necessary regulatory approvals, the
failure to reach agreement on final documentation, exploration
results and other risk factors that are beyond Savant's control.
There can be no assurance that such forward-looking statements will
prove to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements
contained in this news release.
Contacts:
Savant Explorations Ltd.
John McClintock
President and CEO
(604) 568-5817
info@SavantExplorations.com
www.SavantExplorations.com
 
 
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