Toronto, Ontario CANADA, June 14, 2007 /FSC/ - Sage Gold Inc. (SGX -
TSX Venture), has completed six drill holes on the exciting Jacobus Cu
-Ni property. The first results are available for SJ07-06. Sage will
continue to trace the high grade section through additional drilling.
Assays are pending on the remaining holes.
SJ07-06 intersected 11.45 metres (true thickness 8.5 metres) of
0.95% Ni and 1.16% Cu which includes 6.5 metres of 1.23 % Ni and 1.40%
Cu. In addition, platinum and palladium occur in anomalous amounts of
up to 0.123g/t and gold is present up to 0.134g/t.
This hole was drilled 25 metres north from SJ06-02 which intersected
6.3 metres of 0.41% Cu and 0.38% Ni (Press Release - January 26, 2007).
All drill holes were cored at NQ size.
Previous drilling by Sage and historical drilling by others suggests
that the mineralization occurs in a trough like structure. SJ07-06 and
SJ06-02 both intersected the mineralized zone 580 metres down plunge
from the surface trenches.
Nigel Lees stated; "We are highly encouraged with the high grade
results of SJ07-06. The zone continues to be open down plunge and we
expect to have the results of the next holes within the next few weeks.
Furthermore, Sage has also drilled five holes in the up plunge section
of the mineralized zone in order to begin the process of qualifying the
historical resource into NI43-101 compliance. The Jacobus Ni-Cu zone
has now been tested over 580 metres down plunge from surface and
exhibits thicknesses varying between 5 and 40 metres. The width of the
trough like structure varies between 30 and 90 metres. "
Nigel Lees will go "Beyond The Press Release" on the Company's
official Investor Relations Site at www.agoracom.com/IR/sagegold, in
which the above drill results will be discussed in detail. The
recording is expected to be available on or after Thursday June14, 2007.
The Jacobus property is located in the northwest corner of Elmhirst
Township near Beardmore Ontario and consists of 24 claims. An
historical resource of 958,804 tons grading 0.43 % Cu and 0.40% Ni
(Chesterville Mines - Canadian Mines Handbook, 2003-2004 p.340) was
identified from surface down plunge to 150 metres. Sage has now
extended the zone a further 430 metres from the margins of the
historical resource. Sage believes it should be able to expand the
historical resource with additional drilling.
The Jacobus Cu-Ni deposit is hosted in a differentiated, layered
gabbroic sill contained within massive, porphyritic flows of dacitic to
rhyodacitic composition. The mineralized zone occurs as a sulphide-rich
layer within anorthositic gabbro. The sulfide mineralogy consists of
pyrrhotite, chalcopyrite and pentlandite. Combined copper and nickel
grades increase from the surface downwards.
The current exploration phase comprises 3000 metres of drilling and
also includes review, re-evaluation and digitizing of historical drill
data, surveying of historical drill hole collars as well as deposit
modeling.
The historical grade and tonnage estimates presented above predate
and are noncompliant with NI 43-101. Sage is unable to verify the
reliability of the historical data and thus the historical resource is
not relevant until such time as Sage is able to compare current drill
results to historical results from individual holes. The historic holes
will need to be located in the field and surveyed before a comparison
can be made between historic and current drill holes. It is not
possible at this stage to determine if the historic resource is
inferred, indicated or measured. A qualified person has not done
sufficient work to classify the historical estimate as current mineral
resources. 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.
The Jacobus Cu-Ni exploration 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 experience exploring for Ni-Cu, gold and base metal deposits
in Archean terrain, and is a qualified person as defined by NI 43-101.
He is responsible for the technical content of this news release.
Assays of the drill core samples were completed by ALS Chemex in
Vancouver. Ore grade copper and nickel by aqua-regia digestion and
atomic absorption. Platinum group metals with fire assay and ICP finish.
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, and Jacobus
properties in Ontario, the Dixie Fork, Triple Junction, Pony Spur and
Dike properties situated in Nevada, and the Gold Hill and Big Bend gold
properties 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
For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold
where they can post questions and receive answers within the same day,
or simply review questions and answers posted by other investors.
Alternatively, investors are able to e-mail all questions and
correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
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
