Sage Gold poised for “significant appreciation”
Sage Gold Inc. (TSXV: SGX) announced flow through placements for gross proceeds of approximately $1 million to complete a reserve estimate and a prefeasibility study of its 100% owned flagship Clavos Project in the Timmins area, which is sited in Canada’s most prolific gold producing district.
Sage Gold is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the 100% Clavos Gold property in Timmins and the 100% owned Onaman property including the Lynx copper, gold, silver property and other exploration properties in the Beardmore-Geraldton Gold Camp.
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The Clavos Project is a gold project just east of Timmins in the Matheson area, directly adjacent to Primero Mining Corp. It is one of Canada’s few deposits fully permitted (to 2019) and ready to go. With the previous owners having already spent $60 million on underground and surface infrastructure, it will have one of the lowest CAPEX in the industry.
The Clavos Project’s NI 43-101 compliant deposit shows an Indicated and Inferred gold resource of 316,000 ounces and remains open along strike to the east and west and down plunge. More particularly, drilling records show over 2,000 intersections that are above the cutoff grade are outside the resource blocks, with a significant potential increase in tonnage.
The Clavos Property is transected in an east-west direction by a contact between mafic and ultramafic volcanic rocks of the Tisdale Group to the north, and Hoyle Assemblage clastic sedimentary rocks to the south. The contact dips, overall, very steeply to the south but locally has been interpreted from drilling to dip northerly. North of, and parallel to the contact, is the Pipestone Fault (PFZ), a major regional structural feature that also traverses the entire property. The PFZ is a major offshoot of the Destor Porcupine Break. Between the PFZ and the contact are a number of irregular and discontinuous felsic porphyry intrusive bodies. These intrusions strike and dip parallel to the stratigraphy and are the loci for much of the gold mineralization on the property.
Gold mineralization occurs in a series of quartz and quartz-carbonate veins which are interpreted from the drilling to be steeply dipping and east-west striking, roughly parallel to the PFZ. The veins, while appearing to be consistent in orientation from section to section, are observed in the drill core to occur in a wide variety of orientations. The quartz veins occur most often in the mafic and ultramafic volcanic rocks, usually in proximity to porphyry intrusives.
With development and exploration stage assets consisting of both base and precious metals, an experienced and dedicated management team, a small float, commodity diversification and a renewed metals market underway, Sage is poised for significant appreciation.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>