San Gold drills 28.1 m of 11.7 g/t
gold at Rice Lake
2009-02-10 07:46 ET
- News Release
Mr. Dale Ginn reports
DEEP DRILLING AT RICE LAKE MINE CONTINUES TO OUTLINE AND
FIND HIGH GRADE ZONES
San Gold Corp.'s underground drilling below the 5,400-foot (1,650-metre)
level in the Rice Lake gold mine has confirmed the down-dip extension and
high-grade nature of the developed 96 vein in addition to discovering a new
high-grade vein system in the hangingwall and to the north of the 96 vein. Significant
widths and grades were encountered in numerous holes as highlighted by drill
hole No. 460-09-72, which cut a broad zone totalling 28.1 metres (92.0 feet) of
11.7 grams per tonne (0.34 ounce per ton), which included high-grade
intersections in the 96 vein at 1.6 metres (5.3 feet) of 34.2 grams per tonne
(1.00 ounce per ton) and in the new vein at 1.5 metres (4.8 feet) of 50.3 grams
per tonne (1.47 ounce per ton). Hole numbers 66 and 71 also encountered high
grades in the new zone as displayed by the following tabulation of results so
far.
Hole No. Length Gold g/t (oz/t) Zone460-09-62 3.1 m (10.0 ft) 8.8 (0.26) 96460-09-63 2.3 m (7.5 ft) 18.2 (0.53) 96460-09-64 1.7 m (5.4 ft) 10.7 (0.31) 96460-09-65 3.3 m (10.6 ft) 19.2 (0.56) 96460-09-66 1.7 m (5.5 ft) 7.2 (0.21) Aand 4.3 m (14.1 ft) 12.3 (0.36) 96and 1.0 m (3.3 ft) 24.3 (0.71) New460-09-67 3.5 m (11.3 ft) 15.4 (0.45) 96460-09-68 5.1 m (16.6 ft) 19.2 (0.56) 96including 2.1 m (6.7 ft) 36.3 (1.06) 96460-09-69 3.4 m (11.2 ft) 5.8 (0.17) 96460-09-70 1.9 m (6.3 ft) 11.7 (0.34) 96460-09-71 2.6 m (8.5 ft) 13.5 (0.39) 96and 1.9 m (6.2 ft) 16.1 (0.47) New460-09-72 28.1 m (92.0 ft) 11.7 (0.34) 96/Newincluding 8.1 m (26.7 ft) 10.3 (0.30) 96including 1.6 m (5.3 ft) 34.2 (1.00) 96including 7.7 m (25.3 ft) 8.2 (0.24) Newincluding 1.5 m (4.8 ft) 50.3 (1.47) New
Definition and extension drilling was focused approximately 100 feet
below current level development, and continues deeper and farther toward the
hangingwall and north of the 96 vein. The new zone is located approximately 100 feet to the north
of the 96 vein and is open in all directions, while the 96 vein continues to be
open to depth. Level development will commence this month on the 96 vein within
the area of coverage of the above-listed drill holes. The average drilled width
of the above intersections is 4.5 metres (15 feet) with an average grade of
17.6 grams per tonne (0.51 ounce per ton), while true widths of the zones range
between 50 per cent and 100 per cent of the drilled widths. The 96 vein is one
of the primary zones currently being developed and mined in the lower levels of
the Rice Lake mine along with the A and C veins. The 96 vein intersections
above have extended this orebody significantly down dip and to the north toward
the hangingwall contact of the host gabbro unit. The new zones are primarily of
the shear or 16 vein ore type, again toward the north hangingwall side of the
host unit and are open to depth.
A general section showing
the location of the current drilling, development and mining areas within the
Rice Lake mine is available at the company's website.
The above program was
carried out by mine geologists under the supervision of D. Ginn, PGeo, the
qualified person for San Gold under National Instrument 43-101. Underground
drill core samples are assayed on site in the company's assay lab using the
fire assay method with an AA and gravimetric finish. San Gold's quality control
and assurance program includes the insertion of blanks and standards, the
retention of pulps and rejects, and spot checks using independent labs
including TSL Laboratories in Saskatoon, Sask., and 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.
We seek Safe Harbor.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Investor
Information:
1-800-321-8564
www.sangoldcorp.com
<