SGX Extends Tully Deposit to Depth by 250 Metres
28 Agosto 2013 - 8:00AM
Marketwired Canada
Dale Ginn, President and Chief Executive Officer of SGX Resources Inc. (TSX
VENTURE:SXR) is pleased to report that step-out drilling has successfully
extended the Tully deposit eastward by more than 100 metres and to depth by more
than 250 metres from the limits of previous drilling.
Strike extensions of the zone continue to be realized at the easternmost known
extent of the deposit with drill hole #13-20 cutting 6.7 metres of 9.0 g/tonne
more than 200 metres below surface. Wide, high-grade vein sets have also been
identified more than 600 metres below surface as evidenced by drill hole #13-22
which encountered 6.5 metres of 8.0 g/tonne. Drilling continues to focus on gaps
of information and on extending the zone along strike and to depth. A number of
broad, high-grade intersections near surface and to depths of more than 600
metres have been encountered so far this year in a series of thickly stacked
gold bearing lenses or veins making up the Tully deposit, which is jointly owned
(50/50) by SGX and San Gold Corporation (TSX:SGR).
"Results from our step-out drilling program this summer have been very rewarding
and continue to highlight the Tully deposit as one of the few undeveloped,
near-surface, high-grade gold deposits that exist in North America. Our
interpretation of Tully as a repeating set of stacked veins analogous to a
'Venetian blind' concept is paying off as we are now able to confidently connect
with mineralization away from the main deposit both along strike and to depth.
The deposit's host tuff unit is now readily identifiable along strike for a few
kilometres in either direction and we have now confirmed grade and width to
depth. This, coupled with the deposit's proximity to existing mills and roads as
well as nearby deposits, gives us a great deal of confidence in Tully's
potential," said Mr. Ginn.
Assay results received to date on the step out program are summarized below:
From To Length Gold
Hole # (m) (m) (m) (g/tonne) Zone/Lens
----------------------------------------------------------------------------
Eastern Extension Holes:
SGX-13-19 199.0 204.0 5.0 5.40 New
within 193.0 226.0 33.0 2.43
and 345.0 354.5 9.5 1.94 New
SGX-13-20 241.0 247.7 6.7 9.01 New
Deep Extension Holes:
SGX-13-22 634.0 640.5 6.5 8.00 New
SGX-13-22B 644.0 647.2 3.2 5.50 New
The following results are all that have been received to date from the 2013
drill program.
From To Length Gold
Hole # (m) (m) (m) (g/tonne) Zone/Lens
----------------------------------------------------------------------------
SGX-13-06 62.9 79.0 16.1 2.01 T1
and 102.6 116.5 13.9 6.53 T2
SGX-13-07 76.3 82.5 6.2 12.18 T1
and 93.9 96.0 2.1 4.49 T2
and 103.9 113.0 9.1 5.27 T2
SGX-13-09 117.0 132.0 15.0 7.19 T2
SGX-13-10 213.0 214.0 1.0 9.81 T2
SGX-13-11 120.7 123.4 2.7 5.57 T1
and 168.0 185.0 17.0 5.29 T2
SGX-13-12 56.5 65.0 8.5 1.97 New
and 157.8 160.8 3.0 7.14 T1
and 175.1 177.0 1.9 7.46 T2
and 189.4 192.0 2.6 5.45 T3
and 229.8 270.0 40.2 1.09 New
SGX-13-13 194.1 195.6 1.5 5.32 T2
SGX-13-14 130.3 134.3 4.0 6.47 T1
and 159.5 163.0 3.5 3.50 T2
SGX-13-15 181.0 194.0 13.0 5.89 T2
and 247.3 261.4 14.1 20.10 T3
including 247.3 254.3 7.0 39.00 T3
including 247.3 247.8 0.5 452.0 T3
and 346.3 348.0 1.7 4.70 New
and 372.0 381.0 9.0 1.15 New
SGX-13-17 149.0 151.2 2.2 8.87 T1
and 155.8 166.1 10.3 1.12 New
and 171.0 176.0 5.0 5.45 T2
and 224.0 273.3 49.3 1.10 New
SGX-13-18 134.9 136.0 1.1 6.50 T1
and 143.0 149.0 6.0 2.78 New
and 171.2 178.9 7.7 6.14 T2
and 218.0 235.6 17.6 11.08 New
and 254.5 266.5 12.0 1.47 New
and 295.0 307.7 12.7 2.13 New
and 319.0 330.6 11.6 1.60 New
The 2013 drilling campaign is based on the results of an internal study that was
undertaken by SGX geologists focusing on the structural and geological setting
in order to fully appreciate the potential for additional mineralization and its
controls. The Tully deposit is interpreted to be a series of shallow dipping
(extensional or ladder) stacked vein sets within a sub vertical competent mafic
tuff host that is bounded by ultramafic volcanic rocks to the south and
sediments to the north. This host sequence of rocks all lie within a regional
east-west fault corridor, a northern splay from the Porcupine-Destor Fault. The
Tully deposit has been drilled over a 700 metre strike length to date, and to
depths of over 600 metres, remaining open along strike and to depth. True
intersection widths are interpreted to be 65% to 80% of drilled widths as shown
in the table above. Assay intersections are uncut as an appropriate cutting
factor has not yet been determined for this deposit.
SGX Resources is also undertaking evaluation programs on the Edleston Zone,
located 60 km south of Timmins focusing on infill and extensions. An additional
drill program has been completed on the Grenfel project located west of Kirkland
Lake in order to follow up on historical shaft, level development and diamond
drilling by previous owners. It is anticipated that a mineral resources
technical report will be prepared this year for the Tully deposit. SGX also
holds a position in the Davidson-Tisdale deposit and other strategic lands to
the west and south of Timmins, near current and past production.
Sections, plans and diagrams related to this press release are available at the
company's website, www.sgxresources.com, specifically a composite/longitudinal
section showing the location of the intersections received and released to date.
This program was carried out under the supervision of Peter Caldbick, P.Geo., of
SGX Resources Inc., the qualified person responsible for this news release. The
drill core was split, with half sent to Activation Labs of Ancaster, ON and fire
assayed with an AA and gravimetric finish. Whole metallic assays were performed
on samples containing visible gold. Check assays were also performed on pulps
and rejects, as well, blanks and standards were inserted into the sample stream.
A copy of this press release will be made available on the company's website and
will be filed with Sedar.
CAUTIONARY STATEMENT:The information in this release may contain forward-looking
information under applicable securities laws. This forward-looking information
is subject to known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those implied in the
forward-looking information. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of the contents of
this News Release.
To view Figure 1: Composite Section Looking Northeast, click on the following
link: http://media3.marketwire.com/docs/s827aa.pdf
To view Figure 2: Tully Mafic Tuff Location and Regional Magnetic Signatures,
click on the following link: http://media3.marketwire.com/docs/s827bc.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
SGX Resources Inc.
Dale Ginn
CEO
(204) 794-5818
www.sgxresources.com
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