WHERE IS ALL THE GOLD?THE NEXT GOLDCORP? THIS IS FROM DALE HIMSELF. PLEASE KEEP IN MIND GOLDCORP DOES APPROXIMATELY 6-700K OUNCES A QTR.
hOW MANY OUNCES DOES DALE SAY SGR HAS?
CAN YOU READ?
ON SGR WEBSITE AND ON SEDAR AS INDICATED BELOW.
HOW MUCH GOLD DOES SGR HAVE?
ASK SOMEONE TO READ IT TO YOU. DISCUSS.
SOMEHOW I THINK YOU WILL NOT ANSWER - JUST A GUESS.
SUMMARY OF RICE LAKE PROJECT RESERVES (at June 30, 2010)
Tons Grade Contained
oz./ton (g/tonne) Ounces
-------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
The key assumptions used by the Author for conversion of measured and indicated resources to proven and probable reserves are:
1. Resource tonnage factor 11.4 cubic feet per ton (equivalent to an
average specific gravity of 2.8)
2. Minimum mining width 5 feet horizontal.
3. Mill Call Factor 95%
4. Mill Gold Recovery 93%
5. Gold price US$1200, Canadian$1260 at 1.05 exchange rate.
6. External cut-off grade of 0.13 ounces per ton.
7. Internal cut-off grade 0.10 ounces per ton.
A full copy of the technical report will be made available on the Corporation's website and has been filed on SEDAR.
Peter George, PGeo, of Geoex Ltd., is the independent qualified person in accordance with NI 43-101 responsible for the report referenced in this news release. Mr. George has made numerous site visits to this project over the past 10 years, is a geologist with over 40 years of experience and has prepared evaluation reports for a number of significant mining operations. During the past five years, Mr. George has completed mineral resource reports on a number of significant Archean gold projects, including the Gold Eagle Mines Ltd. (now Goldcorp Inc.) Bruce Channel deposit in Red Lake, Ont., ValGold Resources Ltd.'s (now Northern Gold Mining Inc.) Jonpol deposit in the Timmins area, Black Pearl's (now Canadian Lithium) Tully deposit in the Timmins area, and San Gold's Rice Lake mine, Cartwright, SG-1, SG-2 and SG-3 deposits in Bissett, Man.
Dale Ginn, P.Geo, Chief Executive Officer of San Gold, is the qualified person responsible for this news release.