TSX:SGR.UN - Post by User
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baba2on Jul 12, 2007 2:25pm
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Post# 13078962
NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!
NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!
San Gold develops 93 vein at Rice Lake
2007-07-12 14:15 ET - News Release
Mr. Dale Ginn reports
SAN GOLD EXTENDS HIGH GRADE "93" VEIN AT RICE LAKE
San Gold Corp.'s new mining development above the 28th level (4,200 feet) of the Rice Lake gold mine has confirmed consistent and extremely high-grade values within the 93 vein. Face sampling so far has averaged 2.23 ounces per ton (76.4 grams per tonne) over an average true width of 2.4 feet (0.74 metre) and a strike length of 200 feet (61 metres).
This sublevel development is located 25 feet above the initial level development of the 93 vein on the 28th level and represents the southern half of this vein's strike length as shown on San Gold's website. The sublevel development was designed both to confirm the high grades that were developed on the 28th level (see news in Stockwatch March 22, 2007, and Jan. 18, 2007) and as the predevelopment necessary for the shrinkage mining method. Coarse, visible gold was routinely encountered throughout this development.
This vein remains completely open and untested above the 28th level and is not part of the current mineral resource/reserve (ACA Howe, 2007). Sublevel development continues to the north on this vein and development also is continuing on the high-grade 98 and 101 veins on the 29th and 30th levels of the Rice Lake mine (see news in Stockwatch March 22, 2007). Updates on these veins will be made available when mining development has established their strike lengths. Sixteen development faces were sampled and 52 chip samples were assayed for gold with individual values ranging from a high of 13.46 ounces per ton (461 g/t) to a low of 0.19 ounce per ton (6.5 g/t).
The above programs were carried out under the supervision of D. Ginn, PGeo, the qualified person for San Gold under National Instrument 43-101. Chip, muck and mill samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of blanks and standards, the retention of pulps and rejects, and spot checks using independent labs including TSL Laboratories in Saskatoon and Accurassay Laboratories of Thunder Bay, Ont.
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