LAS VEGAS, NEVADA --(Marketwired - Jan. 30, 2014 ) - Silver Stream Mining Corp. (the "Company" or "Silver Stream") (OTCQB:AGSM) and Sage Gold Inc. ( "Sage Gold") (TSX VENTURE:SGX), a Canadian public company listed on the TSX Venture Exchange , announced today that approximately 5,000 metres of Solomon Pillars Gold Property ("Property") historic drill core stored in Copper Cliff, Ontario has been acquired. The BQ and NQ sized drill core is from 30 diamond drill holes completed by Canadian Nickel Company Limited ("Canico") during the mid-1980's operating on behalf of a Canico - Pronto Explorations Limited (Pronto) Joint Venture. The holes tested the Main (Shaft area) and West mineralized zones identified by Canico and will contribute significantly to exploration work being planned by Silver Stream for 2014 and 2015. The all-up cost to re-drill these holes at today's prices for NQ sized core is estimated at $700,000 to $750,000 , representing a substantial saving for Silver Stream. Plans going forward are to review and resample the core as required during the winter of 2014. The Solomon Pillars Gold Property owned by Sage Gold is comprised of 418.1 hectares with 22 leased and 4 staked claims located approximately 180 kilometers northeast of Thunder Bay , near Beardmore, Ontario . Silver Stream entered an option agreement with Sage Gold in October 2013 , whereby Silver Stream can earn up to an 80% undivided interest in the Property (News release, October 31 , 2013). The Property has been the focus of significant exploration and development work over the years. A 3-compartment shaft that was installed in 1935 to a depth of 91.4 meters with two levels developed at 45 meters and 84 meters depth. A mine dump was established next to the shaft but no production was reported. Three mineralized zones were reported from drilling by Canico between 1969 and 1988 which resulted in a Company calculated resource in 1986 (non NI 43-101 compliant) from the Main and West zones. The Property is located within the Southern Metasedimentary Sub-belt of the Beardmore-Geraldton Greenstone Belt which has hosted 11 past producing gold mines over the years and 95% of the approximately 4.1 million ounces of gold produced from this greenstone belt. The past-producing Leitch Mine near Beardmore was one of the richest gold producers in Canada having produced 861,982 ounces of gold at an average grade of 0.92 ounces per ton. This belt currently hosts the Premier Gold Hardrock Deposit near Geraldton with resource estimates at more than 7 million ounces of gold in all categories ( December 13, 2013 , Premier Gold NI 43-101 Report-filed on SEDAR). About Silver Stream: Silver Stream is a natural resource company engaged in the acquisition of, exploration for, and development of, metallic mineral resources in the Americas . The Company is currently focused on delivering shareholder value through the exploration of the Solomon Pillars Property in Beardmore, Ontario, Canada and the Metates Project in Sinaloa, Mexico . The Company's Technical Advisory Team, with expertise in geology, engineering and operations provides a foundation to assess other mining projects for potential acquisition or joint venture opportunities throughout the Americas and to pursue the development of the Company's existing projects in a focused and economical manner. About Sage Gold Inc. : Sage is a mineral exploration and development company that has primary interests in near-term production and exploration properties in Ontario . Its main properties are the Clavos Gold deposit in Timmins and the Lynx deposit and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com . The technical portion of this press release was reviewed and approved by James Garber , P. Geo , a Qualified Person in accordance with the Canadian regulatory requirements as set out within National Instrument 43-101. Mr. Garber is V.P. Exploration for Silver Stream and has worked on the Solomon Pillars property. The management of Silver Stream and Sage Gold approved this news release and take full responsibility for its contents. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accuracy of this release. Notice to US Investors: Current Beardmore-Geraldton Greenstone Belt resource estimates discussed in this news release are reported under Canadian mining and TSX Venture Exchange guidelines, which report mineral reserve and resource estimates differently than in the U.S., and may not meet the standards of "proven" and "probable" reserves set forth in SEC Industry Guide 7. Investors should not infer from these results or any historical resource estimates that are publicly available, that there exists sufficient amounts of precious metals in these areas to support profitable mining operations now, or in the immediate future. FORWARD LOOKING STATEMENTS: Information contained herein regarding optimism related to the Company's business, expanding exploration, development activities and other such statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to the safe harbors created thereby. While Silver Stream believes such statements are reasonable, they are based on current expectations, estimates and projections about the Company's business and are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including market prices for the Company's mineral products, international and domestic economic conditions, and other risk factors listed in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release, except as required by applicable law. FOR FURTHER INFORMATION PLEASE CONTACT: SAGE Gold Inc. Nigel Lees , President and C.E.O. Mike O'Brien , Communications Manager/Investor Relations 416-204-3170 416-260-2243 www.sagegoldinc.com Silver Stream Mining Corp. Terrence H. Byberg President and C.E.O. (702) 818-1775 firstname.lastname@example.org Source: Silver Stream Mining Corp.
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Sues Big Banks Over Rate Manipulation
- Vybz Kartel Convicted of Murder
- Stocks Close Lower Ahead of Crimea Vote
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Ulta Shares Look Good on Strong Q4
- Jittery Investors Dumping Russian Stocks
- FDIC Accuses Big Banks of Fraud, Conspiracy
- U.S. Consumer Sentiment Falls in Early March