Sage Potash Corp. press release
Sage announces soil assays of up to 9.25 g/t and 58 g/t in rock chip samples, Big Bend property
TSXV - TSX Venture Exchange · Potash · Lithium · Bromine · Boron · Canada
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 less than 37701 27 Soil 37730 52 0.03 Soil less than 37702 61 0.03 Soil 37731 6 Soil 37703 26 Soil 37732 5 Soil 37704 4 Soil 37733 8 Soil 37705 414 0.37 Soil 37734 10 Soil 37706 21 Soil 37735 78 0.05 Soil 37707 5 Soil 37736 3 Soil 37708 3 Soil 37737 15 Soil 37709 9250 8.64 Soil 37738 7 Soil 37710 39 Soil 37739 91 0.1 Soil 37711 13 Soil 37740 43 Soil 37712 11 Soil 37741 4 Soil less than 37713 53 0.03 Soil 37742 26 Soil 37714 27 Soil 37743 265 0.26 Soil 37715 67 0.05 Soil 37744 5 Soil less than 37716 2 Soil 37745 1 Soil 37717 28 Soil 37746 3 Soil 37718 24 Soil 37747 3 Soil 37719 63 0.04 Soil 37748 9 Soil 37720 7 Soil 37749 10 Soil 37721 1 Soil 37750 6 Soil Rock 37722 17 Soil 37651 2 Chip/adit Rock 37723 563 0.51 Soil 37652 8 Chip/adit greater than Rock 37724 29 Soil 37653 10000 58 Chip/vein greater than Rock 37725 4 Soil 37654 10000 10.9 Chip/pit greater than Rock 37726 6 Soil 37655 10000 12.3 Chip/pit Rock 37727 12 Soil 37656 1110 1.02 Chip/pit Rock 37728 212 0.23 Soil 37657 2390 2.27 Chip/pit Rock 37729 54 0.04 Soil 37658 442 0.43 Chip/pit
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. >>