Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

November 30, 2009 08:00 ET

Sage-2009 New Discoveries in BGG

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2009) - Sage Gold (TSX VENTURE:SGX) is pleased to announce that its extensive exploration activities in 2009 in the Beardmore-Geraldton Gold Camp (BGG), has yielded new surface discoveries of gold (Au), silver (Ag), platinum (Pt), palladium (Pd), nickel (Ni), copper (Cu), chromium (Cr), lead (Pb) and zinc (Zn) in grab and channel samples on nine different properties.

Sage has completed surface prospecting, grab and channel sampling and geological mapping on its large land package in the BGG, an aggregate of 150,000 acres. Further property details are outlined below.

Highlights:

- Bernadine - Channel samples - values ranged to highs of 1.02% Cu, 0.39% Ni, 1.66 g Pd/t, 0.75 g Pt/t, 2.15% Cr, 14.31 g Ag/t and 0.135 g Au/t to levels below the detection limits.

- Currie (Hopkins) - Channel samples of up to 11.1 g Au/t, 285.11 g Ag/t, 3.8% Pb and 4.6% Zn over 0.38 metres with a low value of 0.01g Au/t, 5.28 g Ag/t, 0.06% Pb and 0..05% Zn over 0.6 metres

- YM (Onaman) -Best grab sample yielded - 9.9 g Au/t, 1327.5 g Ag/t, 10.5% Pb, 6.4% Zn and 0.3% Cu.

- Dorothea - Best grab sample yielded - 61.9 g Au/t and 1830.3 g Ag/t

Sage President & CEO Nigel Lees commented; "With the addition of these results, we have enhanced our comprehensive exploration portfolio and are seeking joint venture partners to accelerate the development of Sage's properties in the BGG."

Property Details:

Bernadine

- Located south of Onaman Lake within the Onaman batholith. The surface mineralization is associated with blocks of pyroxenite that represent older enclaves of ultramafic material which have been trapped in the younger Onaman Tonalite intrusive. Sage collected 650 channel and grab samples (half to one metre channels) during the field season. Channel values ranged from high numbers of 1.02% Cu, 0.39% Ni, 1.66 g Pd/t, 0.33 g Pt/t, 2.15% Cr, 14.31 g Ag/t and 0.135 g Au/t to numbers below detection limits. Thirteen different surface areas were stripped and sampled (approximately 300 square metres).

Currie (Onaman)

- Located in the Onaman-Tashota Belt northeast of Sage's Lynx Cu-Au-Ag deposit within mafic volcanic rocks one kilometre west of the Tashota-Nipigon mine.

- Mineralization is associated with sheared semi massive to massive sulphide horizons and quartz stockwork zones.

- 28 grab samples taken at the showing in 2009. Grab samples of up to 3.1 g Au/t, 792.2 g Ag/t, 12.0% Pb and 7.9% Zn. Average of the 28 grab samples is 0.6 g Au/t, 68.7 g Ag/t, 1.0% Pb and 2.0% Zn.

- Channel samples of up to 11.1 g Au/t, 285.11 g Ag/t, 3.8% Pb and 4.6% Zn over 0.38 metres. A weighted average of the channels (12.1 metres distributed over 75 metres of strike length) yields 0.6 g Au/t ,52.0 g Ag/t , 0.9% Pb and 1.4% Zn. Twenty three channel samples were taken and all results have been received.. The lowest channel sample of the reported group yielded 0.01g Au/t, 5.28 g Ag/t, 0.06% Pb and 0.05% Zn over 0.6 metres

YM (Onaman)

- The YM area is located approximately 3 kilometres south of Sage's Lynx Cu-Au-Ag deposit, within the same package of mafic volcanic rocks.

- Precious and base metal mineralization is related to a number of semi-massive to massive sulphide bands and sulphide bearing quartz veins.

- 42 grab samples were taken from the property in 2009. To date, assay results are available for 19 of these samples and include a sample containing 9.9 g Au/t. 1327.5 g Ag/t. 10.5% Pb, 6.4% Zn and 0.3% Cu. The average metal content of the 19 samples, collected over a strike length of approximately 200 metres, is 2.3 g Au/, 133.4 g Ag/t, 1.5% Pb and 3.3% Zn.

Bearskin Lake

- Located in the northern mafic volcanic unit of the Beardmore-Geraldton Belt (BGB), south of the Paint Lake property.

- Mineralization associated with sulphide bearing quartz veins and silicified east-west trending shear zones.

- Approximately 425 grab samples were taken across the property in 2009. Gold bearing samples with up to 11.2 g Au/t. Thirteen samples of greater than 0.5 g Au/t. Silver and lead values up to70.2 g Ag/t and 1.27% Pb with anomalous Cu and Zn values. Additional results are pending.

Clist Lake

- Located at the contact between the southern volcanic belt of the BGG to the north and unnamed siliciclastic sediments of the Quetico Subprovince to the south.

- Gold and lesser base metal mineralization is associated with shear hosted sulphide bearing quartz veins and arsenopyrite-rich altered selvedges.

- 15 grab samples taken in 2009 from the McKenzie Zone. Gold values up to 7.4 g Au/t (average over 15 samples is 1.7 g Au/t).

Crooked Green Lake

- Located in the Onaman-Tashota belt within the Crooked Green gabbro north of Sage's Jacobus property.

- Gold mineralization associated with shear hosted pyrite-chalcopyrite bearing quartz veins.

- Approximately 185 grab samples taken over the property in 2009. Gold bearing grab samples up to 3.4 g Au/t. Historical grab sample contained 38.0 g Au/t.

Dorothea

- Located on the southeastern shore of Lake Nipigon in felsic volcanic rocks composed of subaqueous felsic flows, volcaniclastics and porphyry intrusives. The package is a fault-bounded wedge within the western segment of the BGB.

- Gold and silver mineralization occurs within quartz-pyrite-arsenopyrite veins hosted in west-northwest trending fractures within porphyry intrusions.

- 165 grab samples were taken on the property in 2009. The best sample yielded 61.9 g Au/t and 1830.3 g Ag/t from a known gold showing. Newly discovered showings yielded values as high as 9.8 g Au/t, 38.9 g Ag/t and 1.4% Cu. 17 of the 165 grab samples yielded gold values greater than 0.5 g Au/t.

Spooner

- Located in the southern mafic volcanic unit of the BGG near the contact with the southern sedimentary panel. Spooner is located immediately east of Roxmark's Northern Empire Mine. The claim covers mafic volcanics, siliciclastic sediments and iron formation.

- Mineralization consists of gold bearing shear hosted quartz-pyrite-arsenopyrite veins, particularly along the northern boundary of the claim.

- Approximately 100 grab samples were collected on the property in 2009 with specific focus on two veins along the northern boundary of the claim (63 samples total). The average gold content of both veins combined over a strike length of approximately 380 metres was 1.9 g Au/t with the highest grab being 14.9 g Au/t.

Two Rivers

- Located in mafic volcanic rocks, interflow sedimentary rocks and iron formation units to the west of Sage's Lynx Cu-Au-Ag deposit.

- Base and lesser precious metal mineralization is associated with drusy sulphide bearing quartz veins hosted in shear zones and at lithological contacts.

- 250 grab and channel samples were taken on the property during 2009. The best grab sample yielded 0.99 g Au/t, 75.45 g Ag/t, 0.69% Cu and 0.38% Zn while the best channel sample (1 metre length) yielded 21.44 g Ag/t, 0.22% Cu and 0.89% Zn.

Technical Information

Sage's channel samples are between 3 and 4 cm wide and are cut with a motorized diamond saw to a depth of approximately 5 cm. The channels are cut as close to perpendicular to the strike of the vein as permitted by the rock surface. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are chosen to provide a representative sample of the surface mineralization of the vein and the wall rock. Channel sample widths are not true widths due to surface undulations.

The grab samples reported in the press release are selected at random. The grade of the grab samples may not be representative of the grade of the deposit and should not be relied upon for this purpose.

Assays reported in this news release were completed by Accurassay Labs in Thunder Bay and ALS Chemex in Thunder Bay and Vancouver. Accurassays' gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 100 g/t are re-assayed by fire assay with a gravimetric finish. Accurassay uses induced couple plasma (ICP) testing for all of the base metal assays reported in this press release with a fire assay finish for high grade precious metal samples and atomic absorption finish for high grade base metal samples. ALS Chemex uses similar assay methods for precious metals and base metal assays.

The technical content of this news release relating has been reviewed by Sage's consulting Geologist Robert B. L'Heureux, M.Sc., P.Geol. of APEX Geoscience Ltd., who is a qualified person as defined by NI 43-101.

SAGE is a mineral exploration and development company which has primary interests in exploration properties in Ontario. Its main properties are the Cox Cu-Ni deposit and the Golden Extension on the Jacobus property, the Lynx deposit on the Onaman property, the Paint Lake and Pillars properties in the Beardmore Geraldton Gold camp. 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 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.

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward Looking Information" within the meaning of applicable Canadian securities legislation.Some forward looking statements and forward looking information 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sage Gold Inc.
    Nigel Lees
    President and C.E.O
    416-204-3170
    416-260-2243 (FAX)
    or
    Sage Gold Inc.
    Mike O'Brien
    Manager/Investor Relations
    416-204-3170
    416-260-2243 (FAX)
    www.sagegoldinc.com