SGM.V
SUTTER drills 10 feet of 1.616 oz/t Au at Mother Lode
2006-08-31 19:01 ET - News Release
Shares issued 56,287,556
SGM Close 2006-08-31 C$ 0.29
Mr. Hal Herron reports
SUTTER GOLD INTERSECTS HIGH-GRADE GOLD MINERALIZATION
SUTTER Gold Mining Inc. today released the first results from its underground diamond drilling program at the project site located in the historic Mother Lode district east of Sacramento, Calif. Each of the first five underground core holes intersected high-grade gold mineralization with coarse visible gold noted in several of the vein quartz intercepts. Holes 163 to 167 have successfully intersected high-grade values outside the boundaries of the previously estimated resources in several vein structures and encountered strong values in two new veins not previously reported in the 2006 mineral resource estimate (March, 2006, National Instrument 43-101 resource report). The drilling has validated SUTTER Gold's structural and ore control models and continued to demonstrate the geological continuity of the Comet veins. The results of the first five holes represents 1,073 feet of the overall 18,000-foot surface and underground program. To date, 14 underground core holes totalling 3,000 feet have been completed. The surface drilling campaign is presently under way.
The company is currently drilling hole No. 15 (out of a total of 24 planned drill holes). Samples are being sent to the assay lab every week. The results of the next five drill holes will be released once the assays results are received and evaluated by the company's consulting geologist.
Results and analysis
Results from SUTTER's five diamond drill holes, located on cross-section lines 1800N, and 2200N are shown in Table 1 below.
TABLE 1 -- DRILL HOLES 163 TO 167 ASSAY SUMMARY
Visible Au
Hole No. Interval (ft)(i) Ounce per ton/Au Vein in core
DDH-163 E 41,441.8; N 71,328.0; bear 208 deg, +79 deg, 249 ft
119.0 - 125.0 ft 6.0 ft at 2.092 40 Vn Au
incl. 122.0 - 125.0 ft 3.0 ft at 4.163
DDH-164 E 41,439.7; N 71,328.2; bear 307 deg, +64 deg, 365 ft
82.0 - 85.0 ft 3.0 ft at 0.088 44 Vn Au
96.0 - 111.0 ft 15.0 ft at 0.185 42 Vn
incl. 96.0 - 99.0 ft 3.0 ft at 0.219 and
108.0 - 111.0 ft 3.0 ft at 0.289
135.9 - 139.2 ft 3.3 ft at 0.088 40 Vn Au
240.0 - 243.0 ft 3.0 ft at 0.195 45 Vn Au
261.0 - 264.0 ft 3.0 ft at 1.429 unnamed branch vn
DDH-165 E 41,374.8; N 71,320.0; bear 59 deg, +76 deg, 274 ft
33.0 - 54.0 ft 21.0 ft at 0.465 first segment 42 Vn Au
incl. 9.0 ft at 0.992
57.0 - 73.0 ft 16.0 ft at 0.125 second segment 42 Vn
incl. 7.0 ft at 0.239
87.0 - 90.0 ft 3.0 ft at 0.316 44 Vn
108.0 - 160.0 ft 52.0 ft at 1.616 third segment 42 Vn Au
incl. 111.0 - 114.0 ft 3.0 ft at 0.194 and
135.0 - 138.0 ft 3.0 ft at 3.867 and
147.9 - 160.0 ft 12.1 ft at 5.878
198.0 - 205.0 ft 7.0 ft at 3.108 40 Vn
228.0 - 238.0 ft 10.0 ft at 1.208 20 Vn
DDH-166 E 41,374.5; N 71,324.0; bear 6 deg, -29 deg, 110 ft
40.0 - 46.0 ft 6.0 ft at 0.403 44 Vn
55.0 - 61.0 ft 6.0 ft at 0.275 31 Vn
79.0 - 88.0 ft 9.0 ft at 2.173 26 Vn
DDH-167 E 41,523.0; N 70,945.0; bear 30 deg, -38 deg, 75 ft
62.0 - 71.0 ft 9.0 ft at 2.182 42 - 47 Vn junction
(i) True vein widths for DDH -- 165, in which the drill hole crossed the vein at an acute angle, are approximately 20 per cent of the high grade intervals, and 50 per cent for intercepts in holes 163, 164 and 166.
"The 2006 drill program thus far is producing the results we had hoped for, providing geologic and grade continuity information to support expansion of the indicated and inferred mineral resources for the targeted veins. The successful identification of strong gold mineralization outside of the present indicated resources validates SUTTER Gold's models for continuity and lateral extensions of the gold-bearing veins. Thus, the company is confident that ounces can be moved from the inferred resources category (2,697,400 tons at 0.193 ounce per tonne, containing 521,000 ounces inferred and 492,900 tons at 0.352 ounce per ton, containing 173,000 ounces indicated, March, 2006, 43-101 resource report) into the indicated resources category, which was the primary goal of the company's $1.2-million diamond drill program," stated Hal Herron, president. "In addition, we have found high-grade mineralization in new areas in the first five holes and are confident that new resources will be added. The proposed drilling program only involves some 10 per cent of the company's 3.2 miles of property position along the Mother Lode trend, leaving some 90 per cent of the property open for further exploration along strike and at depth. The anticipated results should allow us to move forward with an independent engineering report to support financing to move the project forward."
All core samples from the drilling program are cut in half with a diamond saw, with one-half of the core being prepped and analyzed using screened metallics fire assay methods by American Assay Laboratory in Reno, Nev. The remaining half core is stored in a secured facility at the SUTTER Gold site for future inspection and assay verification. Standards and blanks are inserted into all sample shipments and a minimum of 10 per cent of samples are resubmitted for duplicate analysis.
The SUTTER Gold 2006 core drilling program is planned and supervised by Mark Payne, PGeo, Calif. 7067, the qualified person for the SUTTER gold project, as defined by National Instrument 43-101, and has reviewed this release.
Message 22772017
Sutter files mineral resource estimate at Sutter project
2006-03-06 20:21 ET - News Release
Shares issued 52,001,931
SGM Close 2006-03-06 C$ 0.20
Mr. Hal Herron reports
SUTTER GOLD ANNOUNCES NI 43-101 COMPLIANT MINERAL RESOURCE ESTIMATES FOR SUTTER GOLD PROJECT
Sutter Gold Mining Inc. has filed today a mineral resource estimate report conforming with National Instrument 43-101, Standards of disclosure for mineral projects. The mineral resource estimate report has been completed for the Sutter gold project following a comprehensive update of geological models in 2005.
The following table summarizes the indicated and inferred resources estimated for the Comet and Lincoln zones, and additional inferred resources identified to the north and south along the 3.2-mile length of the Sutter gold project:
MINERAL RESOURCE ESTIMATE
FOR SUTTER GOLD PROJECT
Tonnage Gold Gold
grade
(tons) (oz/ton) (oz)
Comet and
Lincoln zones
Indicated
mineral
resource 433,800 0.365 158,165
Inferred
mineral
resources A 121,700 0.345 42,016
Keystone,
Wildman-Mahoney,
Old Lincoln,
Central Eureka
Indicated
mineral resource 59,100 0.260 15,379
Inferred
mineral
resources A 51,700 0.232 12,001
Inferred
mineral
resource B 2,524,000 0.19 467,350
Sutter gold
project totals
Indicated
mineral
resource 492,900 0.352 173,544
Inferred
mineral
resources 2,697,400 0.193 521,417
Note:
Inferred resources are divided into A (derived from modern exploration drilling and underground development work in 1980s) and B (derived from pre-1980s historical data).
Geological continuities within the Comet-Lincoln vein systems are better understood as a result of this study. The zones of high strain, which host the gold-quartz vein mineralization demonstrate excellent geological continuity in both the drill cores and in underground development workings. Positive correlation between the 1 vein of the Lincoln zone and the Comet 42 vein has traced the structure for 2,500 feet along strike through four significant mineralized shoots.
A comprehensive study of the structural controls for gold mineralization along the entire 3.2-mile length of the Sutter gold project has identified common denominators that localized 10 historic oreshoots that accounted for the majority of the 2,343,000 ounces of past gold production recorded from the property.
Areas of inferred mineral resource at the peripheries of the Comet and Lincoln zones, and in areas to the north and south identified in historic data, provide excellent potential to expand the mineral resource base through additional core drilling. The report recommended a program of underground core drilling in the Comet and Lincoln zones to test areas of inferred mineral resource with infill and step-out holes to expand the indicated resource. The report also recommended a limited core drilling program, conducted from existing underground stations, to expand the indicated resource in the 4, 6, 26, 37, 40, 42, 43 and 50 veins.
The 2006 mineral resource estimate report for the Sutter gold project was completed by Sutter Gold's consulting geologist and qualified person, Mark Payne, PGeo, using traditional longitudinal sections. The mineral resource classifications are consistent with the CIM definitions referred to in National Instrument 43-101, Standards of disclosure for mineral projects.
Dr. Ross R. Grunwald, PhD, PGeo, is responsible for preparation and editorial review of all sections of the technical report. Dr. Grunwald is an independent qualified person as defined in National Instrument 43-101.
A complete copy of the mineral resource estimate has been filed and may be obtained on SEDAR.
Message 22775260 |
