Sutter Gold Mining Inc. (TSX VENTURE:SGM)(OTCQX:SGMNF) ("Sutter" or
"the Company") is pleased to announce exciting analytical results
for portions of the first three diamond drill-holes of Phase I
drilling program in progress at its Lincoln Mine Project located
near Sutter Creek, California. The highest values came from
DDH-198, which intersected 4.317 ounces of gold per ton (opt) in a
1.8-foot interval and 1.791 opt in the adjacent 2.1-foot interval.
Both DDH-196 and DDH-197 intersected the quartz vein structure
which hosts much of Sutter's Lincoln Mine Project gold values, and
DDH-197 significantly extends the gold-bearing zone upwards in the
southern portion of the Lincoln resource block.
"Our 2012 drilling program is off to a strong start," said
Leanne Baker, President & CEO of Sutter. "Our exploration team
is focusing on near-surface extensions of gold-bearing zone and the
under-explored region between the Comet and Lincoln segments of the
gold resource. Results from the first three holes suggest initial
success on both fronts."
Phase I of the drilling campaign consists of 17 angle core holes
drilling at the central and southern portion of the gold resource
zone of which five drill-holes have been completed. Phase II of the
program will consist of 11 holes to be drilled in the northern or
Comet portion of the Lincoln Project. The initial batch of
preliminary analytical results for segments of the first three
completed drill-holes were received on March 2, 2012.
DDH-196, the first hole of the drilling program, drilled at an
inclination of -65 degrees, intersected 39.9 feet of intense quartz
veining within the sericite-carbonate-altered meta-volcanic host
from 255.6 feet to 295.5 feet depth. Vein orientations to core axis
suggest that the true width of this zone is 30.5 feet, with a
weighted average grade of 0.121 oz/ton Au. This broad gold
intersection contains an interval at the bottom of the veined zone
that would be considered for mining: 3.9 feet true width at 0.329
oz/ton. Individual assay intervals are as follows:
Table 1: DDH-196 Coordinates: 41,884E/70,310N, Elevation 1364ft, N.60E.
Azimuth, -65 degrees Inclination
From To Interval g/t oz/ton
Hole # (ft) (ft) (ft) Au Au
------------------------------------------------------------------------
DDH-196 255.6 260.2 4.6 4.95 0.144
------------------------------------------------------------------------
DDH-196 260.2 263.7 3.5 2.69 0.078
------------------------------------------------------------------------
DDH-196 263.7 265.8 2.1 1.09 0.032
------------------------------------------------------------------------
DDH-196 265.8 268.2 2.4 7.33 0.214
------------------------------------------------------------------------
DDH-196 268.2 271.8 3.6 13.90 0.405
------------------------------------------------------------------------
DDH-196 271.8 278.8 7.0 2.57 0.075
------------------------------------------------------------------------
DDH-196 278.8 282.2 3.4 1.28 0.037
------------------------------------------------------------------------
DDH-196 282.2 287.4 5.2 0.31 0.009
------------------------------------------------------------------------
DDH-196 287.4 290.4 3.0 0.71 0.021
------------------------------------------------------------------------
DDH-196 290.4 293.5 3.1 2.00 0.058
------------------------------------------------------------------------
DDH-196 293.5 295.5 2.0 15.35 0.448
------------------------------------------------------------------------
DDH-197, the second hole of the program, drilled from the same
site as DDH-196 but at the shallower inclination of 45 degrees,
also intersected a broad zone of intense quartz veining in the
sericite-carbonate altered meta-volcanic host rock. From a depth of
189.0 feet to 218.9 feet, an interval of 29.9 feet for a true width
of 21.1 feet, the weighted average grade of this zone is 0.328
oz/ton Au. This wide gold bearing zone includes three separate
strands with grades above 0.4 oz/ton Au. Assay intervals for this
segment of DDH-197 are as follows:
Table 2: DDH-197 Coordinates: 41,886E/70,310N, Elevation 1364ft, N.60E.
Azimuth, -45 degrees Inclination
From To Interval g/t oz/ton
Hole # (ft) (ft) (ft) Au Au
------------------------------------------------------------------------
DDH-197 189.0 193.5 4.5 6.3 0.184
------------------------------------------------------------------------
DDH-197 193.5 197.0 3.5 8.44 0.246
------------------------------------------------------------------------
DDH-197 197.0 202.5 5.5 16.15 0.471
------------------------------------------------------------------------
DDH-197 202.5 207.0 4.5 15.00 0.437
------------------------------------------------------------------------
DDH-197 207.0 209.6 2.6 3.94 0.115
------------------------------------------------------------------------
DDH-197 209.6 215.5 5.9 14.7 0.429
------------------------------------------------------------------------
DDH-197 215.5 217.1 1.6 2.55 0.074
------------------------------------------------------------------------
DDH-197 217.1 218.9 1.8 11.65 0.340
------------------------------------------------------------------------
DDH-198, the third drill hole for which partial assay results
have been received, was drilled further south and from a lower
elevation to check the Lincoln structure two hundred feet
vertically below the intersection made by DDH-197. DDH-198 made a
distinct fissure-vein intersection at down-hole depths of 275.0
feet to 278.9 feet. The true width of this intersection is 3.0 feet
at a weighted grade of 2.96 oz/ton Au. Closer to the collar of
DDH-198, from a depth of 157.0 feet to 162.0 feet, another
structure was intersected with distinct sericite-carbonate
hydrothermally altered halo within the meta-volcanic greenstone
host. The 3.8 feet true width of this structure returned an assay
of 0.462 oz/ton Au. Interval analytical results for DDH-198 are as
follows:
Table 3: DDH-198 Coordinates: 41,780E/70,205N, Elevation 1342ft, N.60E.
Azimuth, -65 degrees Inclination
From To Interval g/t oz/ton
Hole # (ft) (ft) (ft) Au Au
------------------------------------------------------------------------
DDH-198 157.0 162.0 5.0 15.85 0.462
------------------------------------------------------------------------
DDH-198 375.0 376.8 1.8 148 4.317
------------------------------------------------------------------------
DDH-198 376.8 378.9 2.1 61.4 1.791
------------------------------------------------------------------------
These results confirm the consistency and continuity of gold
mineralization. DDH-197 significantly extends the gold-bearing zone
upwards in the southern portion of the Lincoln resource block.
Quality Assurance/Quality Control and Qualified Person
The exploration activities at the Lincoln project site are
carried out under the supervision of Mr. Stephen Zahony, who is the
designated Qualified Person under National Instrument 43-101 for
the Lincoln project and is responsible for quality control and has
verified the data being disclosed herein. He has determined that
the laboratory reports matched the drill sample logs and that the
quality control assays fall within reasonable limits. QA/QC
procedures incorporate blanks and duplicates inserted at the drill
and standards inserted after sample preparation. Sample preparation
was done by ALS Chemex at its Reno, Nevada laboratory and are
analyzed using 50 gram sub-samples, using fire assay with an AA
finish. High-grade gold intervals are re-assayed by fire assay with
gravimetric finish. For quality control purposes periodic
standards, ten percent of the samples, were inserted within the
sample group sent for analysis; the laboratory was within a 5%
analytical difference in each case of the established value of that
standard. The technical information in this news release has been
prepared in accordance with Canadian regulatory requirements set
out in National Instrument 43-101 and reviewed and approved by Mr.
Stephen Zahony, Vice-President Exploration of the Company.
About Sutter
Sutter is a growth-oriented exploration and development company
preparing to become a North American gold producer. The Company has
two projects: the Lincoln Project located in Amador County,
California and the Santa Theresa Project located in the Northern
Baja region of Mexico. Currently, the Company's primary focus is
the evaluation and development of the Lincoln Project, beginning
with the shallow portion of the Lincoln-Comet ore zone of the
Lincoln Project, located on the California Mother Lode Gold Belt.
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 3.6 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.
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 this release.
Contacts: Sutter Gold Mining Inc. Robert Hutmacher Chief
Financial Officer 303 238 1438 ext.
22bhutmacher@suttergoldmining.com www.suttergoldmining.com
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