San Gold drills 5.4 m of 31.1 g/t Gold at
Rice Lake
2008-02-26 14:29 ET
- News Release
Mr. Dale
Ginn reports
PHASE 2
DRILL PROGRAM REVEALS ADDITIONAL NEW HIGH GRADE ZONE AT RICE LAKE DEEP
San Gold
Corp.'s second phase of deep drilling below the working levels of the Rice Lake
mine has already resulted in the discovery of a new high-grade zone in addition
to extending downdip the high-grade "96" vein, as highlighted by hole
No. 464-08-00, intersecting 5.4 metres (17.7 feet) of 31.1 grams per tonne
(0.91 ounce per ton) gold. The newly discovered zone is highlighted by hole No.
464-08-03 which intersected 2.7 metres (8.9 feet) of 31.8 g/t (0.93 ounce per
ton) gold. The first seven holes of the phase 2 program are reviewed in the
attached table.
Hole No.����� �From������ To�������������� Length�� Gold g/t� (ounce per ton)��� Vein/Zone
464-08-02��� 16.8 m�� 20.9 m��� 4.1 m (13.5 feet)����� 13.1���� (0.38)��������� New
464-08-03��� 12.0 m�� 14.7 m��� 2.7 m� (8.9 feet)����� 31.8���� (0.93)��������� New
464-08-04� ��14.7 m�� 18.8 m��� 4.1 m (13.5 feet)������ 6.0���� (0.18)��������� New
464-08-00��� 37.3 m�� 42.7 m��� 5.4 m (17.7 feet)����� 31.1���� (0.91)���������� 96
464-08-05��� 39.9 m�� 43.6 m��� 3.7 m (12.1 feet)����� 23.6���� (0.67)���������� 96
464-08-06��� 26.5 m�� 32.7 m��� 6.2 m (20.3 feet)������ 5.9���� (0.17)���������� 96
464-08-07��� 48.6 m�� 52.7 m��� 4.1 m (13.5 feet)����� 16.2���� (0.47)���������� 96
Phase 2
drilling is targeting the downdip/plunge area of the main vein sets within the
host diabase or SAM unit and containing the most prominent vein sets named the
"96", "A", "C" as well as others. Phase 1
drilling in 2007 intersected these veins up to 150 metres below the 4730 (5,270
feet) level, the lowest of the developed levels of the mine. All of the listed
veins remain open at depth where 2008 phase 2 drilling will continue to define
and extend from the currently advancing decline access being advanced by Dumas
mine contracting crews.
The 96
vein, which is currently being developed at the 4670 level (5,330 feet below
surface), has a strike length of 200 metres, is tabular in nature and has an
average dip of 70 degrees. Phase 2 drilling so far has returned four
intersections with an average width of 4.9 metres (16.1 feet) and an average
grade of 19.2 g/t (0.56 ounce per ton).
The new
zone is located immediately west of and parallel to the 96 vein. The recently
completed lower mine development has created new drill stations near the
western and deepest extent of known mineralization. This has allowed for
drilling to access this area with angles giving near true widths which are
estimated at over 90 per cent of the reported widths. Phase 2 drilling so far
has returned three intersections with an average width of 3.6 metres (12 feet)
and an average grade of 17 g/t (0.5 ounce per ton).
Please see
the San Gold website for plan and section diagrams relevant to the areas
drilled.
This program was carried out under the
supervision of James Harvey, 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 atomic absortion and
gravimetric finish. Whole metallics were performed on selected samples. 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.
Investor
Information
1-800-321-8564
www.sangoldcorp.com
info@sangoldcorp.com
