Business
SAGE mobilizes second rig to Kerrs Gold Property
SAGE mobilizes second rig to Kerrs Gold Property.
About this update from Sage Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol - TSXV: SGX/CNQ: SAGE\n\nTORONTO, Feb. 20 /CNW/ - Sage Gold Inc. (\"SAGE\") is pleased to announce\nthat it has mobilized a second drilling rig to the Kerrs Gold Property near\nLake Abitibi, Ontario. The planned 5,000 metre drilling program commenced last\nweek.\nThe new program is a follow-up on the 3,000 metre fall 2005 program and\nis designed to expand and delineate the newly discovered gold mineralization\nof the Jam-Bell Lake Zone. Previous drilling primarily by Noranda in the\n1970's and 1980's totalled 15,000 metres and identified a green carbonate\nquartz vein zone. Recent drilling by Sage has significantly extended this zone\nalong strike and downdip to depth.\nThe Kerrs Gold System is focussed in a stratabound shear deformation zone\nhaving a strike length of 700 metres, a down dip length of 500 metres varying\nin thickness from 30 metres to 50 metres and is open to depth and along strike\nand bears a strong resemblance to the \"green carbonate quartz vein and mafic\nflow ore\" type which occurred at the Kerr Addison Gold Mine.\nThe current program is expected to be completed by the second half of\nMarch 2006.\nPeter Hubacheck is a qualified person as defined by NI-43-101 and has\nreviewed and authorised the geoscience findings material to this press\nrelease.\nThe Company recently completed its obligations under the optioned\nCampbell 15-claim block in the Jam-Bell Lake area claim block around the Jam-\nBell Lake and now owns a 100% interest in this claim block. Total leased\nand/or staked claims in the region surrounding the Kerrs Gold Property amount\nto approximately 13,380 acres.\nThere are currently 47,372,961 common shares of SAGE issued and\noutstanding.\n\nSAGE is a mineral exploration and development company which owns\ninterests or options in seven exploration properties in Ontario and Quebec and\nsix exploration properties in Nevada. Its main properties are the Kerrs\nproperty (the \"Kerrs Property\") which is located in the northern part of the\nLarder Lake Mining Division in northeastern Ontario, and the Dixie Fork,\nTriple Junction, Pony Spur, Dike, Corridors and Sugarloaf properties\n(collectively, the \"Nevada Properties\") which are situated in northeastern\nNevada, within Elko County. Technical reports relating to the Kerrs Property\nand the Nevada Properties can be obtained...