Trading Symbols: TSXV-SGX
CNQ-SAGE
TORONTO, March 23 /CNW/ - Sage Gold Inc. ("SAGE") is pleased to announce
that it has obtained an Arizona State Land lease on 180 acres on the Big Bend
Gold property that is located in Yavapai County T13N R10W SW1/4 Section 36.
The Big Bend is approximately 100 miles northwest of Phoenix, west of Highway
93.
Gerber Minerals explored the property in 1985 and identified gold
mineralization within Precambrian granites and granodiorites. The gold
mineralization is localized within a broad zone of hematitic alteration within
an even broader alteration envelope of silification expressed by a stockwork
of stringers, veinlets and occasional veins of massive quartz several feet
wide that are mineralized with gold. Gerber reported gold assays as high as
0.9 oz/ton (30.86g/t) within the quartz veins. However, lower grade gold
values (0.04oz/ton - 1.37g/t to 0.06oz/ton - 2.06g/t) have been reported
(Gerber) within the hematitic alteration zone as a pervasive constituent of
both the altered granites and the younger volcanics. The gold bearing material
appears to be amenable to heap leaching as indicated by a column leach test
which yielded gold recoveries to be over 70 per cent.
Sage completed a sampling program over part of the Big Bend area which
was intended to sample both the quartz vein structures and the surrounding
alteration envelope. Fifty rock/soil samples of the surface material and eight
rock chip samples of the veins in the adit and pits were taken on a 30 x 30
metre grid and were sent to SGS laboratories in Toronto, Canada.
Soil samples assayed from 1 ppb to 9250 ppb (9.25g/t) Au. Samples that
were greater than 50 ppb were rerun and assayed from less than 0.03 to 8.64
g/t gold. Rock chip samples assayed 0.43 to 58 g/t.
The following table provides the results for both the soil and rock chip
samples.
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Samples Au ppb Au g/t Type Samples Au ppb Au g/t Type
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less than
37701 27 Soil 37730 52 0.03 Soil
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less than
37702 61 0.03 Soil 37731 6 Soil
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37703 26 Soil 37732 5 Soil
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37704 4 Soil 37733 8 Soil
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37705 414 0.37 Soil 37734 10 Soil
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37706 21 Soil 37735 78 0.05 Soil
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37707 5 Soil 37736 3 Soil
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37708 3 Soil 37737 15 Soil
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37709 9250 8.64 Soil 37738 7 Soil
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37710 39 Soil 37739 91 0.1 Soil
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37711 13 Soil 37740 43 Soil
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37712 11 Soil 37741 4 Soil
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less than
37713 53 0.03 Soil 37742 26 Soil
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37714 27 Soil 37743 265 0.26 Soil
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37715 67 0.05 Soil 37744 5 Soil
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less than
37716 2 Soil 37745 1 Soil
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37717 28 Soil 37746 3 Soil
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37718 24 Soil 37747 3 Soil
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37719 63 0.04 Soil 37748 9 Soil
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37720 7 Soil 37749 10 Soil
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37721 1 Soil 37750 6 Soil
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Rock
37722 17 Soil 37651 2 Chip/adit
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Rock
37723 563 0.51 Soil 37652 8 Chip/adit
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greater
than Rock
37724 29 Soil 37653 10000 58 Chip/vein
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greater
than Rock
37725 4 Soil 37654 10000 10.9 Chip/pit
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greater
than Rock
37726 6 Soil 37655 10000 12.3 Chip/pit
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Rock
37727 12 Soil 37656 1110 1.02 Chip/pit
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Rock
37728 212 0.23 Soil 37657 2390 2.27 Chip/pit
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Rock
37729 54 0.04 Soil 37658 442 0.43 Chip/pit
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Sage is encouraged with the results of the sampling program in that the
soil geochemistry reflects a broad area of anomalous gold values in the soils.
Further, the rock chip samples indicate the presence of high grade values
within the massive quartz veins.
Sage intends to evaluate this property as a potential heap leaching
opportunity.
The samples were assayed for gold using a Fire Assay 30g with ICP finish.
Any samples with grades greater than 0.05 ppm were rerun with a Fire Assay
gravimetric finish on 30 grams.
Ulrich Kretschmar is a qualified person as defined by NI-43-101 and has
reviewed and authorised the geotechnical material in this press release.
There are currently 47,691,881 common shares of SAGE issued and
outstanding.
SAGE is a mineral exploration and development company which owns
interests or options in seven exploration properties in Ontario and Quebec and
six exploration properties in Nevada. Its main properties are the Kerrs
property (the "Kerrs Property") which is located in the northern part of the
Larder Lake Mining Division in northeastern Ontario, and the Dixie Fork,
Triple Junction, Pony Spur, Dike, Corridors and Sugarloaf properties
(collectively, the "Nevada Properties") which are situated in northeastern
Nevada, within Elko County. Technical reports relating to the Kerrs Property
and the Nevada Properties can be obtained from the System for Electronic
Document Analysis and Retrieval (SEDAR) website at www.sedar.com.
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange and Canadian Trading
and Quotation System Inc. have not reviewed and do not accept responsibility
for the adequacy or accuracy of this news release.
Some statements contained in this release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments regarding
mining and milling operations, mineral resource statements and exploration
program performance. Factors that could cause actual results to differ
materially include metal price volatility, economic and political events
affecting metal supply and demand, fluctuations in mineralization grade,
geological, technical, mining or processing problems, exploration programs and
future results of exploration programs, future profitability and production.
The Company disclaims any obligation to update forward-looking statements.
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