TORONTO, ONTARIO — (Marketwire) — 02/26/09 — Golden Extension – Jacobus East
Highlights – Vein 4
– Visible gold present in northwest trending quartz veins and in the silicified pyritic wall rocks
– New channel results – 93.72 g Au/T over a channel width of 0.4 metres
– Contact zone – intrusion and volcanic – Extensive Quartz Stockwork with mineralized wall rock
– Vein exposed over a strike length of 80 metres
These results occur within the northwestern extension of Vein 4 within an area that was previously covered by water. The winter conditions allow the operator to remove the ice from the vein system which can then be sampled. Visible gold is present both within discrete quartz veins and within silicified mafic volcanic wall rocks. It is apparent that the stripped area now encompasses the contact zone between the Elmhirst intrusion and the surrounding volcanics. Quartz veins are present as multiple northwest trending veins and as interstitial ladder veins within altered pyritic silicified volcanics. The volcanic material yielded good gold values such as channel 176 which assayed 50.64 g Au/T (press release distribution of January 26, 2009).
Sage continues to strip and sample multiple gold bearing vein structures which are both parallel and cross cutting the original discovery of Vein 1. Stripping and trenching continues in a Northwest direction on Vein 4.
The Company expects to complete magnetometer and VLF (very low frequency) survey over the eastern side of the Jacobus property before the spring. The trenching and geophysical programs will provide surface sampling and structural data to allow for the generation of drill targets for drilling during the summer season.
Sage has also received results from an airborne VTEM (versatile time domain electromagnetic) and magnetometer survey conducted during June and July of 2008. The survey encompasses all of the Sage property in the Beardmore- Geraldton Gold Camp except the original Onaman and Jacobus property blocks which were flown by Fugro Airborne Surveys in October 2007. Initial inspection of the data set reveals an abundance of magnetic and EM anomalies. Sage intends to ground truth the anomalies during the summer season.
Sage’s channel samples are 4cm wide and are cut with a motorized circular saw to a depth of 22 cm and removed with a hammer. The channels are cut perpendicular to the strike of the vein. Samples are taken from the footwall, the vein and the hanging wall. Sample intervals are defined to provide a representative sample of the surface mineralization of the vein and the wall rock. Assays reported in this press release were completed by Accurassay Labs in Thunder Bay. Accurassay’s gold analysis is performed using a 30g fire assay charge. The fire assay procedure uses lead collection with a silver inquart. The beads are then digested and an atomic absorption or ICP finish is used. All gold assays that are greater than 10 g/t are re-assayed by fire assay with a gravimetric finish.
The geotechnical content of this press release relating to the BGGC project has been reviewed by Peter Hubacheck, P.Geo. A.P.G.O, who is a qualified person as defined by NI 43-101.
This release was prepared by management of the Company who takes full responsibility for its contents.
Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements.