San Gold Expands New High Grade Gold Zone at Rice Lake, Manitoba
San Gold Corporation provided updated drilling results from its underground program on 26 Level of the Rice Lake mine in Northern Manitoba.
"We are extremely pleased with the success of the Rice Lake drilling programs,” said Ian Berzins, San Gold's President, CEO and Chief Operating Officer. “We are discovering new zones of gold mineralization in close proximity to our existing infrastructure.
The San Gold continues to be successful with drilling to the west of the recently discovered 710 and 710 HW zones. A new zone of gold mineralization is emerging with a strike length now in excess of 400 metres. The recent drilling returned high-grade gold values over significant widths from quartz veins and associated alteration that are interpreted to be similar to the vein orientations of the 16 and 38 type veins of the Rice Lake mine. Highlights include drill hole 614-13-015 which returned 10.6 g/t Au over 11.0 metres and drill hole 614-13-021 which returned 10.5 g/t Au over 6.9 metres.
The gold mineralization occurs within a newly defined mafic unit that has a width of more than 100 metres and is sub-parallel to and in the hanging wall of the original San Antonio Mining ("SAM") unit. All previous development and production at the Rice Lake mine (approximately 1.5 million ounces of gold) took place in the SAM unit up until the discovery of the Hinge and 007 deposits, which were discovered in similar mafic rocks to the north and in the hanging wall of the SAM unit. Several nearby mafic units are now being drilled and prepared for development, all in close proximity to existing workings.
Recent geological modelling has interpreted that local gold-bearing, quartz-carbonate veins have preferentially developed in competent mafic units such as the SAM unit and Shoreline Basalt and similarly in this recently discovered mafic horizon in the hanging wall of the SAM unit, specifically, where these units are cut by east-northeast trending shear zones and associated conjugate northwest trending structures. The discovery of gold in this sub-parallel mafic unit has the potential to significantly add to the current resource base and indicates a strong potential for future exploration to identify additional, sub-parallel, competent mafic units in the hanging wall and footwall regions of known zones.
“It is important to note that these results are from new mining units and not extensions of known veins,” Berzins added. “We expect that this new zone can be easily integrated into our existing mine plan and developed in the near future."
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Rice Lake Mining Complex near Bissett, Manitoba. The Company employs more than 420 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
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