Mr. Nigel Lees reports
SAGE GOLD REPORTS LATEST MILL RUN
Sage Gold Inc. has completed its latest bulk sample mill run and fourth of 2018. Approximately 5,800 tonnes of mineralized material were shipped to the custom mill facility for processing.Production statistics including gold ounces produced, grade and mill recovery will not be known until the completion of a metallurgical reconciliation process with the custom mill facility and final refining of dore, expected to be shipped to the refiner this week.
This mineralized material was extracted from the following active work areas within the Clavos underground:100-metre level (mL) west:Two independent work areas striking to the west within the footwall (FW) and hangingwall (HW) mineralized structures; 150 mL east: Two independent work areas striking to both the east and west within both the HW and FW mineralized structures; 175 mL east: Two independent work areas striking to the east within both the HW and FW mineralized structures;175 long hole (LH) stope: Remnant mineralized material from an existing production work area.This material was sourced from an historic St. Andrew Goldfields LH stope; 200 mL east: A work area striking to the east within the mineralized FW structure present.
The company has produced a total of 1,064 ounces of gold in the first three mill runs in 2018.
The technical content disclosed in this news release has been reviewed and approved by Sage Gold's consulting mining engineer Robert Ritchie, PEng, who is a qualified person as defined in National Instrument 43-101.
The company plans to complete a mineral resource and mineral reserve estimate and a prefeasibility study regarding the Clavos project.In the event that a production decision is made that is not based on a prefeasibility study of mineral reserves demonstrating economic and technical viability prepared in accordance with NI 43-101, readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.
About Sage Gold Inc.
The company is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario.
We seek Safe Harbor.
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