2009-09-17 11:43 ET - News Release
Mr. Nigel Lees reports
SAGE DRILLS 9.59 G AU/T OVER 1.65 METRES-PAINT LAKE PROPERTY
Sage Gold Inc. has completed the first phase of drilling on the Paint Lake property in the Beardmore-Geraldton gold camp (BGG). The drill program has been successful in intersecting high-grade gold mineralization including 9.59 grams per tonne gold over 1.65 metres which includes 17.05 grams per tonne gold over 0.8 metre and 9.99 grams per tonne gold over 1.31 metres including 41 grams per tonne gold over 0.3 metre. The drill program was designed to test mineralized structures on veins one to 10. Sage has previously reported (see Stockwatch June 17, 2009) channel samples of 22.77 grams per tonne gold over 0.40 metre (vein 10) and grab samples of 34.66 grams per tonne gold (vein seven). The second phase of drilling at Paint Lake will commence in late September, 2009, and comprise a series of deep (approximately 500-metre) holes testing for Brookbank-type deposits along the Paint Lake shear corridor. --.
Sage has drilled nine holes to date for a total of 1,711 metres. Assays are pending on several holes and all assays received can be found on the company's website. Trenching and surface channel sampling continue on the Paint Lake property. ---.
Recent channel results show high-grade silver mineralization in addition to the gold and copper content. ---.
The Paint Lake property is situated along a 500-metre-wide structural break which separates the Beardmore-Geraldton belt in the south from the Onaman-Tashota belt in the north. This structural break hosts Ontex Resources Ltd.'s Brookbank deposit, approximately 3.5 kilometres west of Sage's Paint Lake property. Gold mineralization occurs as high-grade quartz, iron-carbonate and pyrite veins and silica-sulphide flooded zones that tend to occur toward volcanic flow contacts. The veins are largely controlled by the east-northeast-trending Paint Lake shear corridor. Northwest-trending dextral shear kinks also host auriferous quartz veins -- an important discovery as they have never been noted in the historical data. These later northwest-trending structures may prove to be an important gold-bearing site as suggested by Kodiak's Golden Mile and Sage's Golden Extension. ---.
