Sutter Gold Mining Intersects 3.016 opt Gold in 1.2-Foot Interval in Initial Drilling at North Gover Prospect
22 Febrero 2013 - 11:57AM
Marketwired Canada
Sutter Gold Mining Inc. (TSX VENTURE:SGM)(OTCQX:SGMNF) ("Sutter" or "the
Company") is pleased to announce the results of its preliminary core drilling
campaign at the North Gover Property located at the north tier of its property
holdings in Amador County, California. All six drill holes made significant gold
intersections, with the best ones as follows: SGD-67 returned 3.016 ounces per
ton (opt) over 1.2 feet core interval and 0.338 opt over 2.0 feet core interval
within a 14.2 feet intersection calculating to 2.5 feet true width at a weighted
average grade of 0.41 opt Au; SGD-66 returned 0.523 opt Au over a 2.0 feet
interval within a 23.0 feet gold mineralized intersection calculating to 11.5
feet true thickness at a weighted average grade of 0.142 opt Au; SGD-64 returned
0.312 opt Au over 3.0 feet core intersection compositing to 0.9 foot true width
at 0.312 opt Au; SGD-62 returned 0.341 opt Au over a core interval of 3.6 feet
within a down-hole vein interval of 6.1 feet calculating to 3.9 feet true width
at a weighted average of 0.224 opt Au.
"The early results from North Gover demonstrate the potential that we believe
exists for additional gold resources in Amador County, where well over half of
the historic Mother Lode gold production took place," said Leanne Baker,
President & CEO. "Sutter Gold further consolidated its land and mineral holdings
in 2012, and we were able to take advantage of drills already on site from our
Lincoln Mine Project exploration program to drill these initial holes.
Exploration is a key focus of our team, both on our mining project under the
direction of Art Campo, our Chief Mine Geologist, and elsewhere including our
substantial Mother Lode holdings, under the direction of Scott Briscoe, our new
Senior Exploration Geologist."
The North Gover property, consisting of five conterminous patented mining
claims, was acquired in mid-2012. These claims extend Sutter Gold Mining Inc.'s
land holdings along the central Mother Lode gold system for an additional one
mile to the north of its previous land holdings, bringing the Company's control
of the main Mother lode fissure-fault zone to a continuous linear distance of
over four miles. Relatively complete old-time underground mine workings maps and
exploration data files for the newly acquired five claims are in the possession
of Sutter Gold at its Sutter Creek, CA office.
The North Gover property is the southern one-mile-long portion of what was once
called the Italian Prospect, an area which had been explored in the past through
53 drill holes by four companies, the latest in 1988 by Meridian Mining Co. The
highest grade intersection made by past core drilling was seventeen feet (17.0')
down-hole width grading 1.25 oz/ton Au. Within the North Gover property, one
particular set of two historic drill holes on Section 8400N, drilled from the
same site at different angles of inclination, made intersections of 5 ft of
0.332 opt Au and 10ft of 0.322 opt Au respectively. The two intersections appear
in cross section to define a fissure vein dipping easterly at a moderate angle.
Because the nearest drill holes were 200 feet north and 200 feet south
respectively of the 8400N cross section, it was decided that while the drill rig
was available at the Lincoln Mine site, the rig be moved to the North Gover
property and six holes would be drilled on two sections, respectively 100 feet
north and 100 feet south of Section 8400N.
The available Ruen Drilling core rig was moved on site on August 1, 2012 and
drilling of the six HQ-size drill holes was completed on August 22, 2012. A
total of 1,104 feet were drilled in six holes (SGD-62 to SGD-67) averaging 184
feet per hole. All six holes made gold-bearing intersections of quartz with some
sulfide minerals. Probably a number of structures of unknown continuity were
intersected by the drill holes. More drilling will be necessary to define the
significance of the gold-bearing intersections.
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NORTH GOVER DRILLING INTERCEPT ASSAYS
August-October, 2012 Drilling Program
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True
Hole # From To Length Au Au Sample L x Length Thick. Au
ppm oz/ton # opt feet feet opt
----------------------------------------------------------------------------
SGD-62 82.7 85.2 2.5 1.88 0.055 116107 0.137
-------------------------------------------------------
SGD-62 85.2 88.8 3.6 11.7 0.341 116108 1.227
----------------------------------------------------------------------------
Composite interval (85.2-88.8) 1.364 6.1 3.9 0.224
----------------------------------------------------------------------------
SGD-62 96.6 98.2 1.6 1.57 0.046 116112
-----------------------------------------------
SGD-62 98.2 100.2 2.0 1.15 0.034 116113
-----------------------------------------------
SGD-62 100.2 102.3 2.1 1.37 0.040 116114
-----------------------------------------------
SGD-62 102.3 104.0 1.7 2.24 0.065 116115
-----------------------------------------------
SGD-62 104.0 107.0 3.0 1.14 0.033 116116
-----------------------------------------------
SGD-62 107.0 111.7 4.7 0.54 0.016 116117
-------------------------------------------------------
SGD-62 111.7 113.3 1.6 3.61 0.105 116118 0.168
-------------------------------------------------------
SGD-62 113.3 114.0 0.7 1.46 0.043 116119 0.030
-------------------------------------------------------
SGD-62 114.0 115.0 1.0 4.74 0.138 116121 0.138
-------------------------------------------------------
SGD-62 115.0 117.5 2.5 1.08 0.031 116122 0.079
----------------------------------------------------------------------------
Composite interval (111.7-117.5) 0.415 5.8 3.7 0.072
----------------------------------------------------------------------------
SGD-63 67.9 69.6 1.7 7.46 0.217 116129 0.370
-------------------------------------------------------
SGD-63 69.6 71.9 2.3 8.15 0.237 116130 0.546
-------------------------------------------------------
SGD-63 71.9 73.5 1.6 9.44 0.275 116132 0.440
-------------------------------------------------------
SGD-63 73.5 77.4 3.9 4.75 0.138 116133 0.540
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Composite interval (67.9-77.4) 1.896 9.5 4.0 0.200
----------------------------------------------------------------------------
SGD-63 77.4 79.6 2.2 1.32 0.038 116134
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SGD-64 100.2 102.3 2.1 1.25 0.036 116137
-----------------------------------------------
SGD-64 102.3 105.0 2.7 0.9 0.026 116138
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SGD-64 105.0 108.0 3.0 10.7 0.312 116139 0.936 3.0 0.9 0.312
----------------------------------------------------------------------------
SGD-64 108.0 113.0 5.0 1.24 0.036 116140
-----------------------------------------------
SGD-64 113.0 115.0 2.0 0.5 0.015 116142
-----------------------------------------------
SGD-64 115.0 117.0 2.0 1.13 0.033 116143
-----------------------------------------------
SGD-64 117.0 119.5 2.5 4.43 0.129 116144
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----------------------------------------------------------------------------
SGD-65 128.6 132.8 4.2 2.13 0.062 116150
-------------------------------------------------------
SGD-65 132.8 135.2 2.4 3.48 0.101 116152 0.243
-------------------------------------------------------
SGD-65 135.2 137.8 2.6 3.57 0.104 116153 0.270
-------------------------------------------------------
SGD-65 137.8 140.5 2.7 6.77 0.197 116154 0.533
-------------------------------------------------------
SGD-65 140.5 144.0 3.5 5.44 0.159 116155 0.555
----------------------------------------------------------------------------
Composite interval (132.8-144.0) 1.601 11.2 3.8 0.142
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NORTH GOVER DRILLING INTERCEPT ASSAYS
August-October, 2012 Drilling Program
----------------------------------------------------------------------------
True
Hole # From To Length Au Au Sample L x Length Thick. Au
ppm oz/ton # opt feet feet opt
----------------------------------------------------------------------------
SGD-66 81.6 85.0 3.4 0.99 0.029 116157
-------------------------------------------------------
SGD-66 97.5 100.3 2.8 2.99 0.087 116158 0.244
-------------------------------------------------------
SGD-66 100.3 103.5 3.2 3.54 0.103 116159 0.330
-------------------------------------------------------
SGD-66 103.5 106.1 2.6 0.96 0.028 116160 0.073
-------------------------------------------------------
SGD-66 106.1 110.3 4.2 2.25 0.066 116162 0.275
-------------------------------------------------------
SGD-66 110.3 112.3 2.0 18 0.523 116164 1.046
-------------------------------------------------------
SGD-66 112.3 114.4 2.1 1.37 0.040 116165 0.084
-------------------------------------------------------
SGD-66 114.4 117.4 3.0 3.7 0.108 116166 0.323
-------------------------------------------------------
SGD-66 117.4 120.5 3.1 4.55 0.133 116167 0.411
----------------------------------------------------------------------------
Composite interval (97.5-120.5) 2.543 23.0 11.5 0.111
----------------------------------------------------------------------------
SGD-67 103.4 108.0 4.6 0.03 0.001 116169
------------------------------------------------
SGD-67 114.0 115.7 1.7 1.39 0.041 116170
------------------------------------------------
SGD-67 115.7 118.1 2.4 0.5 0.015 116172
------------------------------------------------
SGD-67 118.1 119.6 1.5 0.07 0.002 116173
------------------------------------------------
SGD-67 119.6 121.0 1.4 0.28 0.008 116163
------------------------------------------------
SGD-67 121.0 124.3 3.3 0.18 0.005 116174
------------------------------------------------
SGD-67 124.3 126.5 2.2 1.73 0.050 116175
------------------------------------------------
SGD-67 126.5 131.0 4.5 2.07 0.060 116176
-------------------------------------------------------
SGD-67 131.0 133.0 2.0 11.6 0.338 116177 0.676
-------------------------------------------------------
SGD-67 133.0 134.7 1.7 6.94 0.202 116178 0.344
-------------------------------------------------------
SGD-67 134.7 136.7 2.0 3.43 0.100 116179 0.200
-------------------------------------------------------
SGD-67 136.7 138.5 1.8 2.2 0.064 116180 0.115
-------------------------------------------------------
SGD-67 138.5 140.2 1.7 5.08 0.148 116182 0.252
-------------------------------------------------------
SGD-67 140.2 141.4 1.2 104 3.016 116183 3.619
-------------------------------------------------------
SGD-67 141.4 143.0 1.6 2.41 0.070 116184 0.112
-------------------------------------------------------
SGD-67 143.0 145.2 2.2 7.93 0.231 116185 0.508
----------------------------------------------------------------------------
Composite interval (131.0-145.2) 5.827 14.2 2.5 0.410
----------------------------------------------------------------------------
SGD-67 145.2 147.5 2.3 0.72 0.021 116186
------------------------------------------------
SGD-67 156.2 158.0 1.8 6.34 0.185 116187
------------------------------------------------
SGD-67 158.0 159.7 1.7 2.65 0.077 116188
------------------------------------------------
SGD-67 159.7 163.0 3.3 0.13 0.004 116189
------------------------------------------------
SGD-67 167.0 170.7 3.7 2.54 0.074 116190
----------------------------------------------------------------------------
Geologist-designated selected intervals of HQ-size core from the drill holes
were cut in two by means of a diamond saw and one-half of the drill core was
bagged and sent to the assay lab. All sample preparation, fire assays, and
chemical analyses were made by ALS Minerals of Reno, NV. Reported assay gold
results are from 50-gram sample charges.
Senior Exploration Geologist
Sutter is pleased to announce that Scott Briscoe has joined the staff of the
Company as Senior Exploration Geologist. Scott is a native Mother Lode geologist
from Placerville who graduated from the University of Nevada, Reno with a
Bachelor of Science, Geology. Scott has spent much of his career in the gold and
precious metals sector, working in both exploration and production, on surface
and underground. His passion for the California Mother Lode and his broad skill
set will serve well as he focuses on the Company's large mineral rights package.
Having just returned to the USA from Australia where he led a team which
accomplished a successful large scale gold discovery, Scott now brings a very
modern technical approach towards vein deposit exploration and evaluation. Scott
will focus his early attention on the properties immediately adjacent to the
Lincoln Mine Project such as the Keystone, where the company has NI 43-101
compliant gold resources.
The material in this news release has been reviewed by Stephen Zahony,
Consulting Geologist, a Qualified Person as defined in NI 43-101. SGM wishes to
thank Mr. Zahony, who continues to consult for the Company, for his
contributions during the 2012 drill program.
About Sutter
Sutter is a near-term gold producer, building Phase One of the new Lincoln Mine
Project in the historic California Mother Lode. Ramp-up to full production is
planned in the first half of 2013. The Lincoln-Comet and Keystone zones have a
NI 43-101 compliant Indicated Resource estimate (completed in February 2008) of
612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing
223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900
tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter currently controls approximately 4.6 miles of the Mother Lode of Amador
County, with 90% of the property still unexplored. Potential exists both at
depth and along strike of the known mineralized zones on both the footwall and
hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million
ounces of gold historically with 7.9 million ounces originating from the 10-mile
long segment between Jackson and Plymouth where the Lincoln Project is
strategically located. Properties under the Company's control include seven
historic mines with significant historic gold production totaling over 3.5
million ounces or 27% of the historic gold production from the Mother Lode.
Historic mines located north and south of the Lincoln Project in the Jackson to
Plymouth segment of the Mother Lode success fully mined gold to depths of 4,500
and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El
Alamo district of northern Baja, where historic mining to the water table
produced mined grades of 30 to 60 g/t gold. Initial exploration with its
joint-venture partner, Premier Gold, has demonstrated the extension of
high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
Forward-Looking Statements
This news release contains "forward-looking information" under Canadian
securities law. Any information that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always, using words
such as "expect", "anticipate", "believe", "plans", "estimate", "scheduling",
"projected" or variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking information.
Forward-looking information relates to, among other things: the price of silver
and gold; the accuracy of mineral resource and mineral reserve estimates; the
ability of the Company to finance its operations and capital expenditures;
future financial and operating performance including estimates of the Company's
revenues and capital expenditures and estimated production.
Forward-looking information is subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ from those reflected in the forward-looking information, including,
without limitation, risks relating to: fluctuating commodity prices; calculation
of resources, reserves and mineralization and precious and base metal recovery;
interpretations and assumptions of mineral resource and mineral reserve
estimates; exploration and development programs; feasibility and engineering
reports; permits and licenses; title to properties; recent market events and
conditions; economic factors affecting the Company; timing, estimated amount,
capital and operating expenditures and economic returns of future production;
operations and political conditions; environmental risks; and risks and hazards
of mining operations. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking information. Forward-looking information
about the future is inherently uncertain, and actual achievements of the Company
or other future events or conditions may differ materially from those reflected
in the forward-looking information due to a variety of risks, uncertainties and
other factors. Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated, described or intended.
Accordingly, readers should not place undue reliance on forward-looking
statements or information. The Company's forward-looking information is based on
the assumptions, beliefs, expectations and opinions of management as of the date
of this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sutter Gold Mining Inc.
Robert Hutmacher
Chief Financial Officer
303 238 1438 ext. 222
bhutmacher@suttergoldmining.com
www.suttergoldmining.com
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