Some very interesting details in the MD&A:
- 2000m definition drilling completed between the 100m - 175m level in Q3
- finalized plan to extract a 33,000 ton bulk sample in 2017 at Primero (now McEwen) mill starting in the fall, within budget and on schedule
- Clavos dewatered to the 250m level (75% complete)
- Acquiring a mobile mining fleet through financing lease
- Resource upgrade drilling (Phase 2) and exploration drilling (Phase 3) of underground drilling program totalling 3900m to commence @ 225m and 285m levels respectively:
"Resource upgrade drilling (Phase 2) and exploration drilling (Phase 3) of the underground drill program, totalling 3,900m, will commence later at the 225mL and the 285mL, respectively.
The prime target area for the Phase 3 exploration drilling is below the 300mL and is supported by a grade thickness (“Grade/Thickness”) geological model the Company completed in the second quarter of fiscal 2017, which identified numerous high-grade intersections proximal to primary structures below the 300mL and adjacent to the mine infrastructure, controlling the lens geometry. The geological model also provides vectors to potential new vein plunge directions higher in the Clavos deposit such as at the 100m east level (see the Company’s news release dated May 3, 2017 and is available at the Company’s website at www.sagegoldinc.com)."
- New exploration targets delineated to expand resource and increase grade (previous Kinross holes yielded 50 - 90g/ton)
- Surface drill program: "the results of the drill program have revealed the following: (i) a continuity of gold mineralization across the gap between the Main mine zones and the 960 Zone; (ii) the discovery of a new gold zone (Sediment 2 Zone) located 100m south of the existing Sediment Zone and the Footwall Zone intersection; and (iii) the identification of approximately 300m of strike length of potential mineralization west of the end of the 150m west level in the upper part of the existing mine workings."
- Planning to complete a new resource estimate and Pre-Feasability Study
1) Production beginning on time and on budget
2) Resource/Exploration drilling commenced underground on potentially richest part of Clavos
3) Resource upgrade and PFS coming
4) $14 million marketcap for a producing deposit that will likely increase in grade and could double indicated/inferred resource on further exploration of horizontal and plunging vertical trends There are numerous spec exploration-only companies trading at ridiculous mutliples without having drilled a hole yet. If/when Sage hits on new high grade underground targets over the coming month or two and extend the strike trends horizontally and vertically, look out above.