BISSETT, MB--(Marketwire - March 19, 2009) - Dale Ginn, CEO of San Gold Corporation (TSX-V: SGR), is pleased to report that ongoing surface definition drilling continues to confirm the high grade nature of the newly discovered Hinge deposits. Additional parallel zones have also been identified in many of the drill holes as highlighted by # GS-09-35 which encountered 82 g/tonne (2.4 oz/ton) gold over 2.2 meters (7.1 ft) in the target #4 zone as well as 25 g/tonne (0.74 oz/ton) gold over 3.0 meters (9.9 ft) in a parallel zone that was previously unidentified. Hole # GS-09-44 also identified two zones, cutting 43 g/tonne (1.25 oz/ton) gold over 4.4 meters (14.4 ft) in the target #4 zone as well as 7.1 g/tonne (0.21 oz/ton) gold over 1.8 meters (5.9 ft) in the additional zone. All of the drill hole intersections as reported below are within 150 meters (500 ft) of surface.
Sixteen intersections are reported within nine drill holes as tabulated below:
Hole # From To Length Gold g/tonne Zone
(oz/ton)
---------- -------- -------- ------------------ --------------- -------
GS-09-31 154.5 m 156.1 m 1.6 m (5.1 ft) 69.2 (2.02) Hinge 4
and 216.9 m 219.0 m 2.1 m (6.7 ft) 10.2 (0.30) New
GS-09-33 100.9 m 104.5 m 3.6 m (11.7 ft) 6.6 (0.19) Hinge 4
GS-09-35 123.3 m 125.5 m 2.2 m (7.1 ft) 82.2 (2.40) Hinge 4
and 134.9 m 137.9 m 3.0 m (9.9 ft) 25.2 (0.74) New
GS-09-37 129.5 m 132.0 m 2.5 m (8.2 ft) 5.5 (0.16) Hinge 4
GS-09-39 125.5 m 127.6 m 2.1 m (7.0 ft) 47.6 (1.39) Hinge 4
GS-09-41 134.4 m 139.0 m 4.6 m (15.0 ft) 16.6 (0.49) Hinge 4
GS-09-44 120.8 m 125.2 m 4.4 m (14.4 ft) 42.8 (1.25) Hinge 4
including 123.6 m 125.2 m 1.6 m (5.2 ft) 105.5 (3.08) Hinge 4
and 133.8 m 135.6 m 1.8 m (5.9 ft) 7.1 (0.21) New
GS-09-48 104.5 m 107.1 m 2.6 m (8.5 ft) 36.2 (1.06) Hinge 4
and 112.5 m 114.6 m 2.1 m (7.0 ft) 8.0 (0.23) New
and 118.1 m 119.1 m 1.0 m (3.4 ft) 12.8 (0.37) New
GS-09-50 108.1 m 111.0 m 2.9 m (9.5 ft) 55.0 (1.61) Hinge 4
and 123.4 m 128.1 m 4.7 m (15.4 ft) 5.5 (0.16) New
The Hinge #4 zone has now been drill tested between section 0 east and 800 east (feet), (250 m) and to depths of over 1,200 feet (400 m) demonstrating excellent continuity in both structure and grade. This zone remains open along strike to the northeast and to the southwest as well as at depth. Two drill rigs continue to define the known Hinge zones, a third drill rig is searching for parallel veins to the north and a fourth drill has commenced drilling on the next hinge-like target axis located approximately 1 kilometer to the east of the known Hinge zones. The currently known Hinge zones are located approximately 1.5 kms to the northeast of San Gold's operating Rice Lake and mine and mill, and are fully accessible by San Gold's private road, and all lie within San Gold's fully permitted mine lease.
Dale Ginn, a geologist and San Gold's Chief Executive Officer, noted that: "We have known since early 2008 that the Hinge Zone mineralization would be profoundly significant for the company, but none of us imagined that it would continue to turn out high grade intersections in such a consistent manner when most high grade gold deposits are notorious for having erratic drill results. The Hinge zones are quickly developing into a vast, repetitive mineralized system with reinforcing indications from deep underground drill holes that these systems extend at least two vertical kilometers to depth."
This program was carried out under the supervision of W.S. Ferreira, P.Geo., and D. Ginn, P.Geo., the Qualified Persons for this project under National Instrument 43-101. Exploration drill core is split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Definition 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 standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
For further information contact Dale Ginn, CEO of San Gold Corporation, at (204) 794-5818 or investor information at 1-800-321-8564 or visit www.sangoldcorp.com.
PRICE APPEARS NOT TO HAVE MOVED YET........Clavis
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