The Lynx mineralization has been the subject of news releases during 2008 dated 18 January, 29 February, 3 April and 28 May and 14 August. The press release of May 28, 2008 included the results for 18 holes, with a highlight being hole S08-52 which intersected 10.89% Cu, 8.2 g Au/T and 318 g Ag/T over 2.72 metres. The press release of 14 August included the results for 11 holes, with a highlight being hole S08-73, which intersected 2.23 % Cu, 0.75 g Au/T, and 55 g Ag/T over 11.3 metres.
A complete table of assay results for drilling on the Lynx zone, Onaman Project may be viewed at www.sagegoldinc.com.
The Lynx mineralization consists predominantly of massive to semi-massive pyrrhotite and chalcopyrite in a matrix of quartz, chlorite and carbonate. Argentite, native silver, native copper and bismuth have been identified. The mineralization represents chemically distinctive strata in the footwall of an Archean volcanic complex, which has produced VMS (volcanogenic massive sulphide)-style mineralization such as the Coulee-Headway and Big M zones within overlying volcanics.
The Lynx mineralization occurs in a 150 metres thick stratigraphic package as a main horizon, and up to three parallel horizons which have been traced by drilling, outcrop mapping, airborne and ground geophysical surveys for a strike length in excess of one kilometre in a northerly direction. Drilling has shown that three mineralized areas (Lynx #2, #3 and #1, renamed Lynx North, Central and South) are in fact joined. The northern limit has not been defined. At the current southern limit, the mineralized horizons are narrower and interfinger with ash tuff units. Geophysical and geological data indicate continuity of the mineral-bearing stratigraphy with no major structural disruption apparent over several kilometres both to the north and south.
Features present on the Lynx property that are typically associated with VMS systems consists of chloritic stringer, kyanite and chloritoid alteration and sodium depletion. VMS targets on the property will be the focus of future exploration. Geological relations in the Lynx zone are similar to those of the Mattabi deposit in the Sturgeon Lake Volcanic belt which produced 11,400,000 tonnes grading 8.28 % Zn, 0.74% Cu, 0.84 % Pb and 104 g Ag/T (Franklin, 1995).
Assays reported in this news release were completed by ALS Chemex in Thunder Bay. Sample preparation was completed in the Thunder Bay facility of ALS Chemex and prepared samples were shipped to the ALS facility in Vancouver. The copper-silver-gold samples were assayed using induced coupled plasma (ICP) testing with a fire -assay finish for high grade precious metal samples and atomic absorption finish for high grade Cu, Zn and Pb samples.
The BGG camp project is supervised by Exploration Geoscience Associates of Orillia, under the direction of Ulrich Kretschmar, Ph.D, P.Geo (APGO #1160). Dr. Kretschmar has extensive mineral exploration experience in Archean terrain, is a qualified person as defined by NI 43-101 and is responsible for the technical content of this news release.
SAGE is a mineral exploration and development company which has interests in exploration properties in Ontario, Nevada and Arizona. Its main properties are the Jacobus, Paint Lake, Solomon Pillars and Onaman properties in the Beardmore Geraldton Gold camp and the Kerrs property in Ontario; the Pony Spur and Sugarloaf properties situated in Nevada; and the Gold Hill property in Arizona. Technical reports relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.
For all Sage Gold Inc. investor relations needs, investors are asked to visit the Sage Gold Inc. IR Hub at http://www.agoracom.com/IR/sagegold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to sgx@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
This release was prepared by management of the Company who takes full responsibility for its contents.
Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements.
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