San Gold drills 6.22 m of 85.1 g/t Au at Hinge No. 4
2008-05-21 08:37 ET
- News Release
Mr. Dale
Ginn reports
SURFACE
DRILLING INTERSECTS 85 G/TONNE GOLD OVER 6.3 METERS AT HINGE #4
San Gold
Corp. has released assay results for drill hole No. GS-08-33 in the new
high-grade Hinge No. 4 zone. Hole No. 33 encountered 85.1 grams per tonne (g/t)
(2.49 ounces per ton) over 6.22 metres (20.4 feet) at 100 metres (330 feet)
below surface in a broad, continuous quartz-carbonate vein containing abundant
visible gold throughout. Results from this hole are summarized with an
accompanying table demonstrating the even distribution of the high grades
throughout the intersection.
Hole No.�� From��� To ��������Length�������� Gold assay��������������� Zone
������������ (metres)��� (metres) (feet)�� (g/t)� (oz/t)
GS-08-33�� 109.1� 115.4��� 6.3���� 20.7���� 85.1�� 2.49 (Visible gold) Hinge #4
DISTRIBUTION OF GRADE WITHIN THE ZONE
From��� To���� Length��� Gold assay��
��(metres)��� (metres)� (g/t)� (oz/t)
109.1� 110.1��� 1.0���� 61.0��� (1.78)
110.1� 111.6��� 1.5����� 2.1��� (0.06)
111.6� 112.6��� 1.0��� 173.3��� (5.06)
112.6� 113.9��� 1.3��� 193.2��� (5.64)
113.9� 114.9��� 1.0���� 36.7��� (1.07)
114.9� 115.4��� 0.5����� 9.6��� (0.28)
Dale Ginn,
chief executive officer of San Gold, stated: "Our exploration team led by
Bill Ferreira has made a new and promising high-grade discovery near our
operating mill and on our mining lease. We look forward to increasing the size
and quality of the new Hinge zones, which have unlocked the exploration
potential of the entire volcanic sequence to the north of the main mine unit.
Hole No. 33 is the most significant gold exploration hole drilled in the Rice
Lake belt, and indeed, in Manitoba for some time, and is a credit to persistent
drilling near-producing and past-producing mines."
Assays are
pending from the intersections of the same zone on Section line 400E (three
holes: GS-08-23, 25 and 27) and the remaining holes on section 500E (two holes:
GS-08-29 and 31) and will be reported as received by the company. Drill holes
No. 25, No. 29 and No. 31 encountered similar intersections in terms of width
and mineralogy with strong mineralization including visible gold observed in
each hole. This zone remains open along strike to the northeast and to the
southwest as well as at depth.
Please see
news in Stockwatch dated Jan. 15, 2008, Feb. 19, 2008, and April 21, 2008, for
previously posted results of the Hinge zones as discovered to date. 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. 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. 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.
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 metallic assays 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.
Investor Information: 1-800-321-8564<=3Fxml:namespace prefix = o
ns = "urn:schemas-microsoft-com:office:office" />
Email: info@sangoldcorp.com
Website: www.sangoldcorp.com
