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TORONTO, June 22, 2012 - Sea Green Capital Corp. (TSXV - SGS) is pleased to announce that it now is in receipt of all the assay results from the 2012 diamond drill program on its Casa Berardi North Property located 10 kilometres southwest of the Casa Berardi Mine operated by Aurizon Mines Ltd. The diamond drilling program was carried out earlier this year. Five holes (CAS-12-01 to 05) totalling 727.9 metres were drilled.
The main purpose of this program was to test two airborne conductors identified in the Versatile Time Domain Electro Magnetic ("VTEM") survey the Company flew over the Casa Berardi North Property late in 2011 (see Sea Green Press Release dated December 12th, 2011.) The conductors are located near the historic "Glen Auden Gold Zone" discovered by Hemlo Gold and Glen Auden Resources in the 1990's. The Glen Auden Gold Zone has been partially outlined over a 600 metre strike length along a major regional fault structure called the "Lac Janelle Fault," which is located near the northern margin of the Mistaouac Pluton. Historic drill results included 6.10 gpt gold over 1.5 metres and 2.39 gpt gold over 1.8 metres from hole 94-12.
Results from the 2012 drill program are highlighted by the discovery of a potential new gold zone (the "Conductor 1410 Zone") located approximately 250 metres east and along strike of the Glen Auden Gold Zone. The Conductor 1410 Zone was tested by two drill holes, CAS-12-04 and 05 which both encountered anomalous gold values within an altered sercite-fuchsite schist. Significant assay results are given in the table below.
CONDUCTOR 1410 ZONE
Summary of Significant Intersectors
--------------------------------------------- |Hole |From (m)|To (m)|Length (m)|Au gpt| |-------------------------------------------| |CAS 12-04|96.1 |96.9 |0.8 |5.81 | |-------------------------------------------| |And |104.4 |105.6 |1.2 |3.82 | |-------------------------------------------| |CAS 12-05|123.1 |124.5 |1.4 |5.00 | |-------------------------------------------| |And |136.5 |138.0 |1.5 |6.11 | ---------------------------------------------
The above results may represent the continuation of gold values previously encountered in hole CB-94-12 drilled by Hemlo Gold and Glen Auden Resources which returned 6.03 gpt gold over 1.5 metres and 2.30 gpt gold over 1.8 metres. These intercepts were located updip (above) the conductor.
Alexander MacKay, President and CEO of Sea Green has said "the results from the newly discovered Conductor 1410 Zone are extremely encouraging, and warrant follow-up, Sea Green is currently formulating a plan for the next phase of drilling at Casa Berardi North which would include further testing and expansion of the Conductor 1410 Zone as well as to drill test other priority VTEM targets located on the property."
Sketches of the Casa Berardi North Property and the Conductor 1410 Zone will be posted on the web site www.seagreencapital.com.
Sea Green currently holds a 70% interest in two properties in the Casa Berardi area of north western Quebec in joint venture with Explorers Alliance Corporation. Besides the Casa Berardi North the and Company also holds the Cancor Extension Property located adjacent to the Gemini and Turgeon Properties held by Cancor Mines Inc. and IAMGOLD.
Sample Preparation, Analyses and Security
During the 2012 drill program, Sea Green implemented a quality control (QA/QC) program to ensure best practices in sampling and analysis.
At the drill site, core was laid in wooden core boxes, sealed with a lid and strapped with plastic bindings. The core was transported from the drill site by the drill contractor or SGS personnel to the SGS core facility in Val-d'Or. Upon arrival at the core facility, the core was washed, logged and split using a diamond blade saw under the on-site supervision of a geologist.
After cutting, the core samples were sealed with a plastic cable tie in labelled plastic bags with their corresponding sample tag. The plastic sample bags were placed in large rice sacks and secured with tape and a plastic cable tie for shipping to the laboratory. The drill hole and sample numbers were also labelled on the outside of each rice sack and checked against the contents prior to sealing the sacks. Standards and blanks were inserted into the sample sequence prior to shipping.
Samples of split NQ-size core were transported by A.G.A.T. personnel in the securely sealed bags for preparation and analysis at the A.G.A.T. facilities in Sudbury and Mississauga, ON. The remaining half of the core is kept as a permanent record and stored at a secure facility in Val-D'Or, QC. A.G.A.T.is an ISO 9001 and ISO/IEC 17025 accredited laboratory. Core samples were analyzed for gold using a 30 gram fire assay with an AAS finish and the Metals Package by Aqua Regia Digest with a ICP-OES finish.
Intervals reported are core lengths. True widths have not been determined at this time.
Qualified Persons
Exploration programs on Sea Green's Quebec Projects are carried out under the supervision of Mr. Mitch Lavery P. Geo., Mr. Lavery, a professional geologist, has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.
About Sea Green
The Company is a junior exploration company listed on the TSX Venture Exchange. The Company is currently exploring for precious metals in the Casa Berardi region in Quebec. Concurrently the company is evaluating an oil project in northern Alberta that Sea Green has recently acquired an interest in.
Sea Green Capital Corp. currently has 99,920,568 common shares issued and outstanding
Additional information about Sea Green and its exploration projects can be found at www.seagreencapital.com.
For further information contact:
Alexander G. MacKay
416.989.1067
amackay@seagreencapital.com
The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
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