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San Gold Corporation Files Amended Technical Report in Order to Incorporate and Add Mineral Reserves
BISSETT, MB, Oct. 4, 2010 (Marketwire) -- San Gold Corporation (TSX-V: SGR) is pleased to announce that it has filed an amended National Instrument 43-101 compliant technical report dated October 1, 2010 regarding its Rice Lake project area that includes the Rice Lake, Hinge and SG 1 mines as well as the 007, Cartwright, SG 2, SG 3 and Cohiba zones. The technical report was amended in order to add and include disclosure regarding mineral reserves, while mineral resources remain unchanged except to correct a minor addition error in the Rice Lake Mine indicated resources category.
SUMMARY OF RICE LAKE PROJECT RESERVES (at June 30, 2010)
Tons Grade Contained
oz./ton (g/tonne) Ounces
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Rice Lake Mine
Proven Mineral Reserves 414,000 0.22 (7.5) 91,175
Probable Mineral Reserves 753,320 0.22 (7.5) 163,090
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Total Proven and Probable Reserves 1,166,320 0.22 (7.5) 254,265
Hinge Mine
Proven Mineral Reserves 114,740 0.23 (7.9) 26,510
Probable Mineral Reserves 532,085 0.32 (11.0) 171,190
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Total Proven and Probable Reserves 646,825 0.31 (10.6) 197,700
SG1 Mine (currently on care and
maintenance status)
Probable Mineral Reserves 180,150 0.26 (8.9) 47,110
007 Zone
Probable Mineral Reserves 381,550 0.60 (20.7) 225,545
Cohiba Zone
Probable Mineral Reserves 69,960 0.18 (6.2) 12,675
Cartwright Zone
Probable Mineral Reserves 170,250 0.18 (6.2) 29,830
Rice Lake Project
Total Proven and Probable Reserves 2,615,055 0.29 (9.9) 767,125