Sea Green Capital Corp.

Sea Green Capital Corp.

March 23, 2006 10:51 ET

Sea Green Capital Corp Drilling Update

TORONTO, ONTARIO--(CCNMatthews - March 23, 2006) - Sea Green Capital Corp. (TSX VENTURE:SGS)(FRANKFURT:S9G) (the "Corporation" or "Sea Green") announces that assay results have been received for the three diamond drill holes (375 m) completed 33 m. west of the historical McEnaney Shaft in Ogden Township (Press Release, Feb. 28, 2006). All three drill holes intersected highly altered mafic volcanic rocks containing ankerite, sericite, fuchsite disseminated pyrite and quartz veins, similar to the lithologies hosting gold in the McEnaney Mine. Gold mineralization intercepts encountered in the north-dipping alteration zone are listed in the following table.

DDH # From(m) To (m) Interval (m) Gold (g/t)
SOG-06-01 62.8 63.3 0.5 3.31
SOG-06-02 73.5 75.0 1.5 3.07
SOG-06-03 99.7 102.0 2.3 0.78

Additional drilling is recommended at intervals of 50 and 100 m west of the current drill section in April. The drilling will explore the economic potential of the gold mineralized zone as it approaches the DeSantis Mine.

See the Ogden Township Property Map at the Corporation's website:

Diamond drilling has been completed on the Godfrey / Jamieson Township property located 18 km southwest of the Kidd Creek Mine. A three hole drill test of a high priority electromagnetic anomaly has been completed. Assays are not yet available.

The diamond drill has been dispatched to Carnegie Township, located approximately 5 km north of the Kidd creek Mine. The drill program will test a volcanic massive sulphide target defined by a "Kidd type" rhyolite, suggestive of base metal massive sulphide mineralization.

On the Cancor Extension properties of Sea Green in the Casa-Berardi area of Quebec, the balance of the geophysical surveys have been completed and interpretation is nearly complete. Interpretation of the data will add several drill targets in addition to the seven known drill targets. Depending upon the availability of a diamond drill rig it is anticipated that drilling will commence in April.

Farther north in the Casa-Berardi area, Sea Green claims optioned to Aurizon Mines Ltd. in which Sea Green maintains a 27.5% interest (reducing to 16.5%), were explored by sampling basal till at five sites. Subsequent diamond drill testing yielded a highest value of 1.05 g/t Au over 1.2 m. Aurizon recommends additional drilling in the vicinity of this drill intercept.

Sea Green currently has 38,445,568 common shares outstanding.

The TSX Venture Exchange has not in any way passed upon the merits of the matters disclosed herein, and has not approved or disapproved of the contents of this release.

Contact Information

  • Sea Green Capital Corp.
    R. Brian Murray
    President and Director