Timmins & Beardmore - Northern Ontario
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Message: NEWS - SAGE GOLD intersects: 15.7 metres - 0.89% Cu, 29.2 g/T Ag, 0.33g/T Au
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SAGE GOLD intersects: 15.7 metres - 0.89% Cu, 29.2 g/T Ag, 0.33g/T Au
Lynx #1, Beardmore, OntarioToronto, Ontario CANADA, January 29, 2007 /FSC/ - Sage Gold Inc. (SGX - TSX Venture), is pleased to report on the remainder of 2006 drilling from the Lynx #1 zone on the Onaman Project, near Beardmore, Ontario. Holes S06-02, 03,04,05,06,07 and S-06-12 were drilled to test the historical results from the Lynx #1 zone and to test for potential strike extensions.S06-03 intersected 15.7 metres of 0.89% Cu, 29.2g/T Ag and 0.33g/T Au (see figure #1 and Table #1 on company website). Holes S06-02,03 and 05 represent 50 metres step-outs and demonstrate lateral continuity of the mineralization.Drilling suggests the existence of several separate horizons representing a stacked mineralized system which has been established over a vertical distance estimated at 100 metres and extending for a strike length of 200 metres. Hole S06-12 intersected a separate parallel horizon, approximately 100 metres lower in the stratigraphy. The drilling successfully confirmed grade and continuity of copper-gold mineralization at the Lynx # 1 ore zone over a strike length of 200 metres and down dip to 120 metres.The main zone at the Lynx # 1 showing was intersected in hole S06-01 ( see News Release of Oct 30,2006) and obtained 5.83% Cu, 141g/T Ag and 1.7g/T Au over a width of 6.0 metres. The intersection included 9.36% Cu, 206.8g/T Ag, and 1.72g/T Au over 2.5 metres. The hole was drilled to duplicate historical hole 75-13, for which reported results are 5.38 % Cu, 4.55 oz/T Ag (141.5 g/T) and 0.291 oz/t Au (9.05 g/T Au).An historical reserve estimate for the Lynx #1 zone is 70,000 tons of 3.6% Cu, 2.4 g/T Au and 9.9 g/T Ag (P.C. Thurston, Ontario Geological Survey Report 208, p. 55, 1980).Nigel Lees, President, states: "We are pleased that our initial drilling has confirmed historical grades and continuity of the Lynx No. 1 zone, as this provides a foundation and incentive on which to build further potential resources. Bedrock in the Lynx area is heavily altered and extensively mineralized - both hallmarks of mine stratigraphy. Further definition drilling will test both strike and depth extensions of the Lynx zones".Ongoing work in the Lynx area showings includes analysis and interpretation of a recently completed mag/HLEM survey over 36 km of cut lines, and economic and geological modeling of the Lynx style of mineralization. A metallurgical test sample from the Lynx # 2 open pit area has been submitted, with results expected in the near future. Assays reported in this news release were completed by Accurassay Laboratories in Thunder Bay. The Onaman Lake project is being supervised by Exploration Geoscience Associates of Orillia, under the direction of Ulrich Kretschmar, Ph.D, P.Geo (APGO #1160). Dr. Kretschmar has extensive mineral exploration experience in Archean terrain, is a qualified person as defined by NI 43-101 and is responsible for the technical content of this news release.The historical grade and tonnage estimates presented above are historical in nature, predate and are noncompliant with NI 43-101 and should not be relied on except to represent an order-of-magnitude estimate of mineral resources. Sage believes the estimates are based on reliable information prepared by reputable individuals using accurate analytical techniques. Sage is re-evaluating all analytical and drill data to make the historical estimates conform to CIM Standards for Mineral Resource and Mineral Reserve estimates-***-
Lynx #1, Beardmore, OntarioToronto, Ontario CANADA, January 29, 2007 /FSC/ - Sage Gold Inc. (SGX - TSX Venture), is pleased to report on the remainder of 2006 drilling from the Lynx #1 zone on the Onaman Project, near Beardmore, Ontario. Holes S06-02, 03,04,05,06,07 and S-06-12 were drilled to test the historical results from the Lynx #1 zone and to test for potential strike extensions.S06-03 intersected 15.7 metres of 0.89% Cu, 29.2g/T Ag and 0.33g/T Au (see figure #1 and Table #1 on company website). Holes S06-02,03 and 05 represent 50 metres step-outs and demonstrate lateral continuity of the mineralization.Drilling suggests the existence of several separate horizons representing a stacked mineralized system which has been established over a vertical distance estimated at 100 metres and extending for a strike length of 200 metres. Hole S06-12 intersected a separate parallel horizon, approximately 100 metres lower in the stratigraphy. The drilling successfully confirmed grade and continuity of copper-gold mineralization at the Lynx # 1 ore zone over a strike length of 200 metres and down dip to 120 metres.The main zone at the Lynx # 1 showing was intersected in hole S06-01 ( see News Release of Oct 30,2006) and obtained 5.83% Cu, 141g/T Ag and 1.7g/T Au over a width of 6.0 metres. The intersection included 9.36% Cu, 206.8g/T Ag, and 1.72g/T Au over 2.5 metres. The hole was drilled to duplicate historical hole 75-13, for which reported results are 5.38 % Cu, 4.55 oz/T Ag (141.5 g/T) and 0.291 oz/t Au (9.05 g/T Au).An historical reserve estimate for the Lynx #1 zone is 70,000 tons of 3.6% Cu, 2.4 g/T Au and 9.9 g/T Ag (P.C. Thurston, Ontario Geological Survey Report 208, p. 55, 1980).Nigel Lees, President, states: "We are pleased that our initial drilling has confirmed historical grades and continuity of the Lynx No. 1 zone, as this provides a foundation and incentive on which to build further potential resources. Bedrock in the Lynx area is heavily altered and extensively mineralized - both hallmarks of mine stratigraphy. Further definition drilling will test both strike and depth extensions of the Lynx zones".Ongoing work in the Lynx area showings includes analysis and interpretation of a recently completed mag/HLEM survey over 36 km of cut lines, and economic and geological modeling of the Lynx style of mineralization. A metallurgical test sample from the Lynx # 2 open pit area has been submitted, with results expected in the near future. Assays reported in this news release were completed by Accurassay Laboratories in Thunder Bay. The Onaman Lake project is being supervised by Exploration Geoscience Associates of Orillia, under the direction of Ulrich Kretschmar, Ph.D, P.Geo (APGO #1160). Dr. Kretschmar has extensive mineral exploration experience in Archean terrain, is a qualified person as defined by NI 43-101 and is responsible for the technical content of this news release.The historical grade and tonnage estimates presented above are historical in nature, predate and are noncompliant with NI 43-101 and should not be relied on except to represent an order-of-magnitude estimate of mineral resources. Sage believes the estimates are based on reliable information prepared by reputable individuals using accurate analytical techniques. Sage is re-evaluating all analytical and drill data to make the historical estimates conform to CIM Standards for Mineral Resource and Mineral Reserve estimates-***-
-****-There are currently 78,876,959 common shares of SAGE issued and outstanding.SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario and Quebec, Nevada and Arizona. Its main properties are the Kerrs, Onaman, Jacobus, and Lincoln properties in Ontario, the Dixie Fork, Triple Junction, Pony Spur, Dike, Corridors and Sugarloaf properties situated in Nevada, and the Big Bend gold property, located in Arizona. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com. For further information, contact:
Nigel Lees, President and C.E.O.,
or
Mike O'Brien, Manager/Investor Relations
Phone: 416-204-3170 Fax: 416-260-2243- - - - - - - - - - - - - - - -This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does 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.SAGE GOLD INC.
365 Bay Street
Suite 500
Toronto, Ontario M5H 2V1
Tel: (416) 204-3170 - Fax: (416) 260-2243
www.sagegoldinc.com News By Filing Services Canada, Distributed By The Richmond Club
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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