Post by
snowtigerrr on Mar 15, 2017 11:56am
Upgraded Reserves Estimate Coming
Sage has delineated a 330,000 oz. deposit at the Clavos but it looks like this estimate could be materially upgraded this year. With cashflow positive production coming online this year along with a potential reserve increase, Sage is worth multiples higher than its paltry marketcap of $10mm and will likely be an acquisition target further down the road.
From the MD&A:
"Sage currently plans to complete a reserve estimate and a prefeasibility study regarding the Clavos project."
In preparation for definition and exploration drilling of the existing mine workings following the planned dewatering, Sage has successfully completed a 3D modelling exercise in Datamine which incorporates the entire Clavos database including all drilling, assaying, digitised lithological interpretations and the location of the underground workings. The assay data was differentiated between different lithological units and was decluttered to remove the distortion of higher drill densities in certain parts of the deposit. The purpose of this exercise was to analyze the correlation between gold concentrations, lithological host units and structural controls in the deposit. Sage has commenced dewatering and rehabilitating the Clavos underground. This will allow for a definition drill program to commence the third quarter of fiscal 2017. A surface drill program is being conducted on the eastern portion of the ‘Main Mine Trend’ and the 960 Zone.