It's very good news:

Dale Ginn, CEO stated, “It appears as though the Shoreline Basalt has the ability to host mineralization wherever it interacts with a shear zone. This is consistent with the original host rock for the Rice Lake Mine and as such, we expect that our new zones will have great depth extensions as well. We look forward to reporting results from the deep exploration drilling that we are conducting on these zones from the 26th and 28th levels of the Rice LakeMine.”

see the pdf

http://www.sangold.ca/i/pdf/2010-11-16-pr.pdf