St Andrew Goldfields Ord STADF

news release

[suncatchgold]

TORONTO, Feb. 1, 2012 /CNW/ - St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") provides a summary of its 2011 exploration program and reports results from the remaining 2011 drill programs at the Ghost Zone near the Holloway-Holt mines, and at the Hislop North Project; and announces its 2012 plans for exploration in the Timmins Camp.HIGHLIGHTSSpent $11 million in 2011 and drilled a total of 69,000 metres.Advanced the Taylor Project towards the pre-feasibility stage, which will include an updated resource for the West Porphyry Zone; and finalizing a first resource estimate for the Deep Thunder Zone.Confirmed geological model to test new targets near Holloway-Holt.Commenced drilling on the Ghost Zone, with recent results of 2.96 g/t Au over 10.2 metres (including 4.56 g/t Au over 4.0 metres) and 7.69 g/t Au over 20.2 metres (including 10.05 g/t Au over 4.0 metres, 13.25 g/t Au over 3.3 metres, and 9.80 g/t Au over 2.5 metres).Commenced drilling on the Hislop North Project with initial results of 12.41 g/t Au over 9.0 metres; including 16.20 g/t Au over 6.0 metres.2012 Exploration budget of $7 million focussed on targets near the existing operations."We are very excited to kick off our 2012 exploration program", said Jacques Perron, President & CEO of SAS. "We commenced our exploration efforts in 2010, so we are still in the early stages; however, we have a number of new discoveries that have the potential to turn into profitable ore bodies. We have quite a large land position and as we continue to develop and perfect our geological model, we have been able to better target our efforts in order to reap the best rewards. "