Trading Symbol - TSXV: SGX/CNQ: SAGE
TORONTO, Feb. 20 /CNW/ - Sage Gold Inc. ("SAGE") is pleased to announce
that it has mobilized a second drilling rig to the Kerrs Gold Property near
Lake Abitibi, Ontario. The planned 5,000 metre drilling program commenced last
week.
The new program is a follow-up on the 3,000 metre fall 2005 program and
is designed to expand and delineate the newly discovered gold mineralization
of the Jam-Bell Lake Zone. Previous drilling primarily by Noranda in the
1970's and 1980's totalled 15,000 metres and identified a green carbonate
quartz vein zone. Recent drilling by Sage has significantly extended this zone
along strike and downdip to depth.
The Kerrs Gold System is focussed in a stratabound shear deformation zone
having a strike length of 700 metres, a down dip length of 500 metres varying
in thickness from 30 metres to 50 metres and is open to depth and along strike
and bears a strong resemblance to the "green carbonate quartz vein and mafic
flow ore" type which occurred at the Kerr Addison Gold Mine.
The current program is expected to be completed by the second half of
March 2006.
Peter Hubacheck is a qualified person as defined by NI-43-101 and has
reviewed and authorised the geoscience findings material to this press
release.
The Company recently completed its obligations under the optioned
Campbell 15-claim block in the Jam-Bell Lake area claim block around the Jam-
Bell Lake and now owns a 100% interest in this claim block. Total leased
and/or staked claims in the region surrounding the Kerrs Gold Property amount
to approximately 13,380 acres.
There are currently 47,372,961 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.
