Re: SGX and KXL's quartz vein the same. Read below and decide.
in response to
by
posted on
May 23, 2008 08:39AM
Focused on becoming a near-term Gold Producer
Jerry... agree 100%. Everyone long (or not long) on SGX should re-read (read) the following excerpts from previous NRs IMO... Very exciting IMO.
From Dec. 14th, 2007 NR:
"Preliminary results from the Jacobus property indicate a mag high on the southeast corner of the property that is contiguous with the northern extension of the mag high on Kodiak's Hercules property. Within this high is a northwest-trending low, which is interpreted by Sage to be a similar geophysical signature to the Kodiak Golden Mile quartz vein system. Jacobus Mining Corp. (1957) intersected a 10-foot-wide quartz vein within this mag low, which was not assayed for gold. Sage is currently moving equipment into this area in order to begin trenching both the quartz vein and the northwest-trending mag low. A grid of lines will also be cut for detailed ground geophysics and geological mapping. The Jacobus property is underlain mainly by intermediate pyroclastics that are intruded by the Elmhirst gabbroic intrusion."
"Nigel Lees, president and chief executive officer, stated: "We are very excited about the progress on all our Beardmore-Geraldton properties, especially in the light of the recent gold discovery by Kodiak and the implications for similar mineralization on our Jacobus property. Our aeromagnetic survey -- completed only last week on the Jacobus property -- shows that we have a magnetic signature similar to that on Kodiak's Hercules property to the south. Also, in government assessment files we see that historical drilling on the Jacobus property encountered quartz vein structures within a stratigraphy similar to the Golden Mile. We have accelerated our exploration program in order to determine if the high-grade mineralization extends onto our property."
From Feb. 29, 2008 NR (an Onaman release w/ 5.5% Cu over 6.5m... very high % intercept by the way):
"Jacobus property -- gold exploration
Sage has completed a winter road into the eastern corner of the Jacobus property in order to begin exploring for the possible extension of Kodiak's Golden Mile occurrence. Sage previously reported, as in Stockwatch news on Jan. 18, 2008, that airborne magnetometer data suggest that a prominent northwestern low may reflect a structural or lithological break. Stripping and trenching activity is now under way in this area. A number of quartz veins have been located with associated sulphides."
The work referenced above started (as much as possible) in December. It's now well underway.
You be the judge. I've made my decision. Very long.
red911
P.S. the Dec 14th 2007 NR was very comprehensive and covered multiple properties... I expect next NR to be similar w/ more results.