(via Thenewswire.ca)
TORONTO, December 12, 2011. Sea Green Capital Corp. (TSXV - SGS) Sea Green Capital Corp. ("Sea Green") wishes to announce the completion of a Versatile Time Domain Electro Magnetic ("VTEM") survey over its Casa Berardi North Property located 10 kilometres southwest of the Casa Berardi Mine operated by Aurizon Mines Ltd. The survey was contracted to Geotech Ltd. of Newmarket, Ontario and consisted of 250 line kilometres with a 100 metre flight line spacing.
Sea Green currently holds a 70% interest in two properties in the Casa Berardi area of north western Quebec in joint venture with Explorers Alliance Corporation (30%). Explorers Alliance has indicated that they will be participating with the exploration program in the Casa Berardi region.
The purpose of this airborne survey over Casa Berardi North, to identify additional targets and better delineate the favourable gold bearing horizon. The final survey data when received from Geotech will be sent out to a geophysical consultant for interpretation.
Historical drilling performed on Casa Berardi North property by Hemlo Gold Mines and Glen Auden Resources in the 1990's partially outlined a gold bearing horizon over a 600 metre strike length along a major regional fault structure called the "Lac Janelle Fault" which is located near the northern margin of the Mistaouac Pluton. Historic drill results included 6.10 gpt gold over 1.5 metres and 2.39 gpt gold over 1.8 metres from hole 94-12. In addition, approximately 550 metres north of this gold bearing zone, Noranda in 1990 drill a single hole (M-90-02) which intersected 4.63 gpt gold over 3.0 metres.
In the third quarter of 2011 Sea Green acquired by staking an additional 962 hectares (21.3 sq. km.) to cover the southwest extension of the gold bearing horizon on the Casa Berardi North Property bringing its total land position in the Casa Berardi area to 2815 hectares (63 sq. km.)
Besides Casa Berardi North, the company also holds the Cancor Extension Property located adjacent to the Gemini and Turgeon Properties held by Cancor Mines Inc. and IAMGOLD.
Exploration in the Yukon on the Zeus and Zed properties was completed in the Summer/Fall but unfortunately did not bear significant economic gold values in the soil and silt samples to warrant further work on the properties. Project Manager/Project Geologist- Ryan Libke oversaw the work on the properties and collection of soil samples tested at ACME Labs. The Joint Venture with Goldspike Resources (TSXV-GSE) (formerly the Yukon Cornelius syndicate,) now currently control the Zeus and Zed claims. Goldspike has allowed Sea Green to extend the conditions of the joint venture to allow Sea Green to carry out a program on the CO property in the spring of 2012.
Qualified Persons
Sea Green is pleased to expand its Geological expertise and along with Mr. Bruce Mackie Chief Consulting Geologist to the company exploration programs on Sea Green's Quebec Projects are carried out under the supervision of Mr. Mitchell Lavery P. Geo., Mr. Lavery, has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.
Mitchell E. Lavery (P. Geo.)
Mr. Lavery has over 37 years' experience in exploration and development of mining projects with
a number of junior and major mining companies. He has been involved in the discovery of massive sulfide deposits and gold in Ontario, gold in Quebec, and uranium in Saskatchewan. He is a member of l'Ordre des geologues du Quebec, CIM Harricana and a 37 year
member of the PDAC.
About Sea Green
Sea Green Capital Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol "SGS". The company is currently exploring for precious metals in the Casa Berardi region in Quebec and will resume its Yukon exploration programme on its CO property in the spring of 2012. Currently there is 99,920,000 common shares outstanding.
Additional information about Sea Green and its exploration projects can be found at www.seagreencapital.com
For further information contact:
Alexander G. MacKay
President and CEO
416.989.1067
amackay@seagreencapital.com
The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
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