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Sage plans 5,000 metre drill program at Kerrs Gold Project
Sage plans 5,000 metre drill program at Kerrs Gold Project.
About this update from Sage Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol - TSXV: SGX/CNQ: SAGE\n\nTORONTO, Jan. 23 /CNW/ - Sage Gold Inc. (\"SAGE\") is pleased to announce a\n5,000 metre diamond drill program for the Kerrs Gold Property situated near\nLake Abitibi, Ontario. The program, expected to commence at the end of this\nweek, consists of approximately 10 holes and is a follow-up to the successful\n3,000 metre program completed in October 2005.\nOn the basis of holes K-05-1, 6 and 7, a significant new gold zone \"The\nMafic Replacement Zone\" was identified. Encouraging gold mineralization was\nencountered in hole K-05-7, returning 5.73 g/t over 3.3 metres within a\nbroader brecciated alteration zone grading 2.83 g/t over a 3.5 metre interval.\nK-05-1 returned 32.8 g/t over 0.18 metres, and 7.36 g/t over 2.97 metres. Sage\ndrill holes K-05-01, 2, 3, 4, 5 & 6 establish a geological setting demarking\nthe transition of an intercalated quartz feldspar porphyry (QFP)/ultramafic\nflow sequence to a thick mafic, andesitic flow sequence dipping to the east at\n-40 degrees. Gold mineralization is characterized by a green carbonate quartz\nvein (GCQ)/breccias that are continued to a stratabound shear deformation\nzone. Within the deformation zone are intercalated ultramafic flows and\nsilicified, cherty tuffs and albitite intrusions at this transition,\nsuggesting the presence of a hydrothermal vent sourcing from a parent magma\nchamber centred along a rift basin.\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 new exploration program is designed to expand and delineate the newly\ndiscovered gold mineralization of the Jam-Bell Lake zone.\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 has leased and/or optioned claims consisting of 13,379 acres\nat the Kerrs Gold Property.\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 o...