There has been limited drilling down plunge and down dip of the Existing Clavos deposit. The following historical drill holes yielded high grade intersections 300-400 metres down dip of underground workings:
CL KC99-155W - 60 g/t - between 653.3 - 654.0 metres down hole - 9.39g/t between 510-511 metres down holeCL KC99- 149W - 16.52 g/t between 526.17 and 527.37 metres down hole - 8.82g/ between 529.52 and 529.92 metres down holeCL KC99-154W - 17.4 g/t between 562.4 and 563.85 metres down hole
Sage completed a number of drill holes down plunge of the eastern end of the underground workings and one hole down dip of the centre portion of the Clavos deposit. Results were detailed in a press release on August 25, 2011. Sage has also drilled the 960, Sediment and Contact zones 600 metres east of the Existing Clavos deposit. Refer to press releases of April 26, 2011, Dec 14, 2011 and Sept 20, 2012.
The down dip, down plunge, 960, Sediment and Contact drilling indicate that there are potential economic intersections east, down dip and down plunge of the Existing Clavos deposit. This study has not considered the potential economic impact of these new mineralized zones except to plan for exploration drilling and primary development costs to support the development of additional new resources.
A PEA is not to be interpreted as either a Preliminary Feasibility or a Feasibility Study. This PEA type of study can also be referenced as a Scoping Study and thus may contain results of an economic analysis that includes and is based upon inferred mineral resources.
The PEA will be filed on SEDAR within 45 days after being released and will also be available on the corporate website at www.sagegoldinc.com.
Qualified Persons / Quality Control
R. Ritchie P.Eng, an Independent Qualified Person, visited the Clavos JV deposit property on several occasions between October, 2011 and January, 2012 providing overall responsibility for the technical content of this Press Release which includes the mining study CAPEX and OPEX cost estimates and conceptual economics. Mr Ritchie has read and accepts the technical content of this press release.
Peter Hubacheck P.Geo, an Independent Qualified Person, visited the Clavos JV property on two occasions between early February, 2012 through early March, 2012 to log core and supervise QA/QC protocols for the 960 Zone; prepare a detailed surface and underground exploration diamond drill program; prepare samples for metallurgical test work and provide guidelines and geoscientific contributions on behalf of Clavos JV and for the RPA Mineral Resource Estimate (2012).
The drill database and the associated QA/QC has been reviewed and validated by Roscoe Postle Associates (see NI43-101 Technical Report for Clavos Deposit October 2012).
This release was prepared by management of the Company who takes full responsibility for its contents.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward Looking Information" within the meaning of applicable Canadian securities legislation. Some forward looking statements and forward looking information 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.
Neither 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.
Contacts:
Sage Gold
Nigel Lees
President and C.E.O.
416-204-3170
416-260-2243 (FAX)
Sage Gold
Mike O'Brien
Communications Manager/Investor Relations
416-204-3170
416-260-2243 (FAX)
