Business
Sage Gold Inc. reports exploration results on Kerrs Property and closing of first tranche of financing
Sage Gold Inc. reports exploration results on Kerrs Property and closing of first tranche of financing.
About this update from Sage Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol - CNQ: SAGE\n\nTORONTO, June 10 /CNW/ - Sage Gold Inc. (CNQ listed: symbol SAGE) is\npleased to report exploration results on the Kerrs property and future\nexploration plans.\nOver the past few months, Sage Gold Inc. completed an extensive Mobile\nMetal Ion (MMI) soils survey and magnetometer survey on the Kerrs Property in\nnortheastern Ontario (immediately north of the prolific Larder Lake break).\nThe MMI survey consisted of 1073 samples covering the entire property of\n2,199 acres. Raw data from the survey reveal a geochemical anomaly southwest\nalong strike with the Jam Lake Gold zone. The presence of anomalous nickel,\ncobalt, gold, silver and palladium in the Jam Lake area reflects both the\npresence of ultramafic units and the mineralized (2.5 grams Au/tonne over 10.2\nmetres and 11.69 grams Au/tonne over 0.76 metres) quartz carbonate green\ncarbonate altered volcanics. The Company is in the process of correcting the\nMMI data as per specifications for such analyses in order to better interpret\nthe data. The magnetometer survey has aided in interpreting the subsurface\ngeology through correlation with historical data, and indicates the presence\nof folded ultramafic units sandwiched between less magnetic volcanic units.\nThe Company also completed a review of the historical exploration data\nassociated with the Kerrs property. Between 1979 and 1988 Noranda completed\nReverse Circulation (RC) drilling (4,723/metres), diamond drilling\n(5578/metres), and geophysics (very low frequency (VLF), electromagnetic (EM)\nand induced polarization (IP) surveys) on the Kerrs claim block. Sage has\ncompiled all of the exploration data into a map series including the RC and\ndiamond drilling, an airborne EM survey, and ground IP and magnetometer\nsurveys.\nThe Company has commissioned a lithostructural study of the Kerrs\nproperty using LANDSAT and RADARSAT image data. The purpose of the study is to\nidentify permeability zones, structures, intrusive/volcanic features and major\nlithological contacts on the property, in order to assist target\nidentification.\nSage intends to complete an IP survey on selected portions of the Jam\nLake grid. The survey is intended to identify areas of high resistivity and\nchargeability. Historic surveys show that the gold-bearing, quartz and green\ncarbonate exhibits high res...