San Gold Expands on new Cartwright Zone – June 1, 2006
San Gold Corporation is pleased to announce that drilling continues to enlarge the new Cartwright Zone, located one kilometer west of the Rice Lake Gold Mine and mill site. San Gold wishes to comment on the size, geometry, location and significance of its recent drilling information on this zone. Hole number CW-06-36 has extended the Cartwright zone a further 150 feet (46 m) to the west and encountered 15.1 feet (4.6 m) of 0.21 oz/ton (7.2 g/tonne) gold at a vertical depth of 700 feet (213 m).
The dimensions of the drilled mineralized zone has now been increased to over 1,500 feet (460 m) in length and 1,200 feet (366 m) to depth. The Cartwright deposit contains multiple veins that exhibit an identical pattern and geology to that of the neighboring Rice Lake Gold Mine which is currently in production and has produced 1.5 million ounces of gold to date. The Cartwright zone continues to be open to the west and east as well as at depth. Hole # From To Length Gold g/tonne (oz/ton) CW-06-36 216.6 m 221.1 m 4.6 m (15.1 ft) 7.2 (0.21) including 1.2 m ( 4.0 ft) 17.5 (0.51)
Access in order to develop this new zone is being planned by mine staff to originate as a decline from the Rice Lake Gold mine and mill site. This decline will provide access to any new potential zones or extensions between the Rice Lake Mine and the Cartwright zone. It will also provide access to the historic Gabrielle workings, extensions to existing stopes and development in the Rice Lake Mine, in addition to the 334 Vein located to the north in the hanging wall volcanic sequence which was partially developed in the 1950’s and 1980’s.
