Dec 11 MD&A on Sedar
in response to
by
posted on
Jan 05, 2009 07:54AM
Focused on becoming a near-term Gold Producer
Food for the "Sooners" more detail available on SEDAR.COM
Exploration Activities Ontario, Canada Sage has discovered a total of four vein systems at its “Golden Extension”. These vein systems were discovered through stripping and channel sampling. Initially reported in the Company’s press release of September 2, 2008, with channel results of up to 136.5 g Au/T, the Golden Extension is on strike with the Kodiak Exploration’s Golden Mile discovery. Highlights to date are:
Four vein systems with visible gold discovered to date– Veins 1-4 with an aggregate strike length of 290 metres – veins open along strike.
New channel results for Vein #1 - up to 35 g Au/T over a channel width of 0.7 metres. Two excavators are actively trenching and channel sampling the vein systems.
Vein structure discovered 1.5 km southeast of the Golden Extension at the property boundary with Kodiak.
Description of vein systems:
Vein #1 – the Golden Extension Vein – sampled over 60 metres of strike length and is open both northwest and southeast. There have been 59 channels cut into the vein at a sampling density of one every metre. Visible gold is present within the vein and in the weathered zone immediately above the vein.
Vein #2 – Located 8 metres south of the north-western end of the stripped area of Vein #1. Vein #2 strikes east-west and has been stripped for 78 metres. The vein and veinlets occur within a highly sheared zone of up to 6 metres wide with siliceous wall rock and 5-10% disseminated pyrite. Visible gold is present in both the vein material and the weathered zone immediately above the vein. Twenty channel samples have been cut within the veins and the mineralized wall rock. The vein is open to the west and east.
Vein #3 – Located 25 metres north of Vein #1. Vein #3 has been trenched for 90 metres and strikes 100 degrees. Vein #3 consists of up to 5 metres width of sheared and mineralized wall rock, veins and veinlets. Pyrite occurs as subhedral clots within the veins and as disseminated masses within altered and silicified wall rock. Molybdenite and chalcopyrite are also present in the vein and wall rock. Visible gold has been located in the weathered zone immediately over the sheared zone.
Vein #4 – Located 57 metres northwest of Vein #1, Vein #4 comprises two parallel vein systems which have been stripped over a strike length of 62 metres and trend northwest-southeast. Visible gold has been identified in one of the veins.
Continued prospecting of the south-eastern strike of the Golden Extension vein has located a one metre wide quartz vein 1.5 kilometres southeast of the Golden Extension. The vein carries pyrite and chalcopyrite and is located at the Sage – Kodiak property boundary and along the projected northwestern extension of the Golden Mile.
Sage intends to continue to trench and channel sample the Golden Extension and parallel vein systems. The channel results, coupled with the geological interpretation of the vein systems, will be used to define drill targets for a 2009 drill program. A plan map of the trenched areas to date on the Golden Extension vein system with the associated channel locations is available at the Company’s website at www.sagegoldinc.com.
Paint Lake - Beardmore/Geraldton Gold Camp Sage has completed 26 channel samples on the optioned Paint Lake property located in the Irwin and Walters Townships near Beardmore, Ontario. Highlights to date are: Stripped mineralized zone of 140 metres in strike length and up to 3 metres in width. Channel results include 23.09 g Au/T over 0.4 metres Located 1.2 kilometres east of the Ontex/Brookbank property.
Ongoing trenching and sampling will provide a basis for selecting drill targets. The zone has been traced for 1,500 feet (457 metres) and yielded channel samples of up to 0.54 oz/T (18.51 g Au/T) over 5 feet (1.5 metres) (Ontario Assessment Report #42E12NE0134,1974) (b). The Sage property is on strike and is contiguous to Ontex Resources’ Brookbank gold deposit, which has NI-43-101 compliant inferred and indicated mineral resources. In a July 23, 2008 news release, Ontex announced some of the best drill results ever recorded on their property, which included 17.4 g Au/T (0.51 oz/T) over 21.0 metres (68.9 feet). Their news release also stated that there is potential to increase the resource to both east and west and at depth. Sage’s Paint Lake property boundary is 750 m east and along strike of the Foxear zone of the Brookbank deposit. King Solomon Pillars - Beardmore/Geraldton Gold Camp Line cutting has been performed in preparation for trenching and channel sampling. Target mineralization consists of gold-bearing quartz-calcite-arsenopyrite-pyrite veins in fine-grained siliceous sediments, with a trend of approximately 70 o that strike sub-parallel to an iron formation. Historical work approximately 400 metres east of the Sage property boundary has defined a 2 metre wide system with at least 550 metres of strike length. The best assay in the area was taken approximately 100 metres from the eastern boundary of Sage’s claims and contained 1.42 oz/t (49.49 g Au/T) (Ontario Assessment Report #42E12NE0073, 1966) (b).