San Gold drills 1.5 m of 60.6 g/t Au at Hinge zone
2008-04-21 08:33 ET - News Release
Mr. Dale Ginn reports
SAN GOLD DISCOVERS FOURTH NEW HIGH GRADE HINGE VEIN
Exploration drilling in San Gold Corp.'s Hinge zone area has discovered a new high-grade gold-bearing vein (Hinge No. 4) to the north and parallel to the previously discovered zones. Hole No. GS-08-17, drilled in a southeast direction on Section 300E, encountered 1.5 metres of 60.6 grams per tonne (g/t) in this new vein as well as multiple deeper "breccia vein" intersections. Results from this hole as well as the remaining holes drilled on this section line are in the table.
Hole No. From To Length Gold g/tonne (oz/ton) Zone
GS-08-15 136.2 m 140.6 m 4.4 m (14.4 ft) 7.5 (0.22) visible gold Hinge No. 4
GS-08-17 149.9 m 151.5 m 1.6 m (5.3 ft) 60.6 (1.77) visible gold Hinge No. 4
and 210.0 m 217.0 m 7.0 m (23.0 ft) 4.8 (0.14) breccia
and 315.8 m 318.7 m 2.9 m (9.5 ft) 5.8 (0.17) breccia
GS-08-19 347.5 m 349.3 m 1.8 m (6.0 ft) 9.9 (0.29) Hinge No. 4
The section lines run northwest to southeast and are 100 feet (30 metres) apart. This new zone has been drilled as well on Section 400E (three holes: GS-08-23, 25 and 27) and 500E (3 holes: GS-08-29, 31 and 33) and has encountered the new zone with strong mineralization including visible gold in each hole. The holes drilled on Section 500E encountered significant widths of between 20 and 30 feet (six to 10 metres) with numerous occurrences of visible gold recorded throughout the intersections. Assays are pending on these holes and will be made available upon receipt. Hole No. GS-07-28 drilled from Section 000E previously encountered this zone (see news in Stockwatch on Feb. 19, 2008) with an intersection of 2.3 metres of 20.1 g/t, which gives the Hinge No. 4 zone a drilled strike length of 500 feet (150 metres) to date. This zone remains open along strike to the northeast and to the southwest as well as at depth.
To date a total of at least four subparallel new veins have been discovered in the Hinge area, as well as numerous uncorrelated breccia zones within 100 to 300 metres of surface. Two Diamond drills are currently drilling in the Hinge area.
Please see news in Stockwatch on Jan. 15, 2008, and Feb. 19, 2008, for the first posted results of the Hinge zones discovered to the south. The new zones are roughly parallel, dip to the northwest and are made up of quartz and carbonate veins containing gold mineralization. The volcanic units which contain the new veins are located in a sequence of rocks which lie approximately 1,500 metres into the hangingwall stratigraphically above and geographically to the north of the mineralized mine unit of the Rice Lake gold mine. The new zones are located approximately 1.5 kilometres to the northeast of San Gold's operating Rice Lake and mine and mill, and are fully accessible by road.
Please see the San Gold website for a plan view location map and cross-sectional view of this new discovery as well as selected pictures of drill core intersections.
This program was carried out under the supervision of W.S. Ferreira, PGeo, the qualified person for this project under National Instrument 43-101. The drill core was split, with half sent to TSL Laboratories in Saskatoon, Sask., and fire assayed with an AA and gravimetric finish. Whole metallics were performed on samples containing visible gold. Check assays were also performed on pulps and rejects by both TSL and by Accurassay Laboratories of Thunder Bay, Ont. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
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