At least now we have an explanation for the lack of news. I've started reviewing the resource estimate produced in 2006 :

http://www.sasgoldmines.com/i/pdf/NI43-101_Hislop_20061002.pdf

A number of companies tried to make something of this project with Kinross being the last before SAS acquired it in 2003 and started a mining operation in 2005. I haven't dug in to this very far but they may have stopped because they didn't have enough resource defined to justify continuing and SAS does mention on their website that they decided to focus on their Holloway-Holt property. They also mention that they stopped mining in May 2007 and did allow the underground workings to flood. There is a resource estimate for the Clavos property which has assigned about 147,400 oz measured/indicated/inferred cut with a cut-off grade of 4 g/t and $ 500/oz price for project economics as of 2006. The cut-off grades used now can be as low as 2 g/t and I've seen more recent numbers of $ 850/oz used for project cost estimates. The consultants who prepared the Technical Report , Scott Wilson RPA, agreed with the proposed 2 phase drilling program ( $ 2 million) to develop the reserve base with 25,000 meters of drill holes ( 2006 dollars). The price paid by Sage is essentially nothing to get a crack at this property. I crunched some numbers using a Barings estimate of $ 100/oz, 147k oz and 300 million shares FD to get about $0.05 per share value added to Sage with this acquisition. So we should be around 10 cents if the market likes this deal. They should be able to add more to the resource estimate right away if they are allowed to use a cut-off grade lower than 4 g/t. The real value comes when they drill this property. They have to find extensions to the known ore shoots to make this deal work. I'll be reviewing more of the information but so far it's an interesting prospect. Now, about the rest of those drill results from 2009?