Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

December 21, 2010 09:00 ET

Sage Gold Inc.: Clist Lake, Beardmore-Geraldton Gold Camp-Channel Results 5.51g/t over 3.23 metres

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2010) - Sage Gold (TSX VENTURE:SGX) announces channel sampling results from its optioned Clist Lake property in the Beardmore-Geraldton gold camp, located approximately 200 km northeast of Thunder Bay, Ontario, south of Jellicoe and south of Clist Lake. Grab sample results were previously reported (Sage Press Release of 11/30/09).

At the McKenzie Showing, a broad area of low grade gold mineralization has been identified, within which there are higher grade veins. The gold system is a minimum of 10 m wide and remains open. Channel sample results (not true widths, due to surface undulations) are as follows:

Clist Lake Property channel sample highlights, McKenzie Showing. Italics indicate visible gold present.
Sample
Number
Easting Northing Channel
Number
Channel
Width
Au
(g/t)
Comments
10LHCL0195 454915 5498242 129 3.20 3.41  
10LHCL0205 454912 5498243 132 3.23 5.51  
10LHCL0228 454931 5498234 136 8.75 1.01  
10LHCL0257 454916 5498239 140 4.32 2.45  
10LHCL0265 454910 5498246 142 2.02 5.22  
10LHCL0278 454908 5498244 145 4.56 1.34  
10LHCL0387 454883 5498231 170 7.65 1.36  
10LHCL0561 454886 5498231 201 6.78 2.81 Incl. 33.80g/t over 0.52m
10LHCL0648 454871 5498228 221 8.94 0.63  
10LHCL0687 454866 5498226 225 11.25 0.98  
 
 
Clist Lake Property grab sample highlights, McKenzie Showing
 
Sample
Number
Easting Northing Au
(g/t)
10LHCL0147 454912 5498243 16.80
10LHCL0148 454912 5498243 15.00
10LHCL0149 454912 5498243 30.10
10LHCL0150 454912 5498243 27.10
10LHCL0832 454968 5498247 5.66
 

The channel samples reported above were part of a larger 109 channel sample set covering approximately 250 metres of strike length. Channel samples were taken from various locations within the stratigraphy to characterize the nature and distribution of the gold mineralization. Gold values ranged from nil to 5.51g/t over 3.23 metres.

Maps of the property geology and channel sample locations are posted at www.sagegoldinc.com.

The Clist Lake Property straddles the boundary between the southern margin of the Wabigoon Sub province and the northern edge of the Quetico Sub province.

The McKenzie Showing is located in the central part of the Property, approximately 250 m south of the sub province boundary and 600 m south of Clist Lake.

Overburden stripping in 2009 opened up an area of approximately 250 m x 10 m which was the focus for the 2010 September channel sampling program.

Channel samples reveal wide low-grade gold zones interspersed with thinner high-grade lenses, including an approximately 3 m wide zone containing visible gold that can be traced along strike for at least 10 m. Gold occurs within a series of semi-parallel and anastomosing zones.

The gold-bearing quartz veins are typically 10-50 cm thick and contain 2-5% sulfides consisting of pyrite, pyrrhotite, chalcopyrite, galena, tourmaline and arsenopyrite. The veins strike approximately east-west and dip to the north. The primary host to the gold mineralization is a biotitic meta-sandstone intruded by pegmatite. The immediate host is a sericite-chlorite-silica-sulphide altered metasediment that can reach widths 10 metres or more. 

A second similar zone, nearly 100 m south of the McKenzie, was discovered in October 2010. Grab samples have yielded up to 3.14 g Au/T from a sulphidized porphyry. Continuing work on the property will consist of stripping, trenching and channel sampling.

The Clist Lake project is supervised by Ulrich Kretschmar, Ph.D, P.Geo (APGO #1160). Dr. Kretschmar has extensive mineral exploration experience in Archean gold terrains, is a qualified person as defined by NI 43-101 and is responsible for the technical content of this news release.

CLAVOS, TIMMINS

Sage is currently drilling at the Clavos gold mine in Timmins, Ontario as part of the 2010-11 program. Assays will be released in Q1 of 2011.

The Clavos mine has existing infrastructure in place including underground ramp access from 100 metres to the 300 metre level, underground levels developed every 25 metres, power to site, mine ventilation system and a water management facility. The existing mining permit is in good standing until 2019.

SAGE is a mineral exploration and development company which has primary interests in exploration properties in Ontario. Its main properties are the Clavos mine in Timmins and their exploration properties in the Beardmore -Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.

This release was prepared by management of the Company who takes full responsibility for its contents.

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