Sage Gold to Study Using Natural Gas at Clavos
May 08 2014 - 8:41AM
Marketwired
Sage Gold to Study Using Natural Gas at Clavos
TORONTO, ONTARIO--(Marketwired - May 8, 2014) - Sage Gold Inc.
(TSX-VENTURE:SGX) ("the Company") has agreed with CNG Canada Inc.
and Change Energy Inc., to study the viability of utilizing natural
gas supplied by the Union Gas natural gas pipeline located on the
Clavos Property in Timmins Ontario.
The opportunity is to provide compressed natural gas (CNG) to
supplement and/or replace diesel fuel for surface mine equipment
and surface haul trucks. CNG can also be used as a replacement for
regular fuel by converting light-duty service vehicles to bi-fuel.
The study will also examine the use of CNG as a replacement for
propane for underground mine air heating and as an alternative
energy source for the supply of electrical power.
Sage has a published NI 43-101 mineral resource estimate for
Clavos, which includes indicated mineral resources of 1,258,400
tonnes at 4.81 g/t Au totaling 194,600 ounces of gold and inferred
mineral resources of 796,000 tonnes at 4.7 g/t Au representing
120,000 ounces. These mineral resources are reported at a base case
cut-off grade of 2.75 g/t Au with individual assays capped at 60
g/t Au.
Sage announced the completion of a Preliminary Economic
Assessment ("PEA") for Clavos on March 01, 2013, which can be found
on the corporate website at www.sagegoldinc.com.
Sage Gold President and CEO Nigel Lees commented, "Natural gas
is the cleanest burning fossil fuel and enjoys a significant price
advantage over both hydro and petroleum based fuels available
today. Engines that use natural gas produce at least 25% fewer
greenhouse gases (GHG) emissions than their conventional petroleum
fueled counterparts and also contribute to cleaner air by
decreasing NO and SO2 as compared to gasoline. We are optimistic
that the study will indicate substantial cost savings to the
proposed mining operation.
With known reserves of natural gas supply in excess of 100
years, natural gas prices are expected to be predictable and stable
for the foreseeable future."
CNG Canada Inc. is a leading-edge innovator in the alternative
fuels industry, providing turn-key compression and vehicle
conversion solutions at all tiers of the natural gas applications
spectrum. CNG Canada Inc. has supplied stand-alone single
compressor units, fueling stations serving small to mid-sized
light-duty fleets of service trucks and forklifts. The company has
also supplied larger scale compressor systems with increased
capacity to serve multiple unit fleets in manufacturing,
warehouse/logistics operations, plus waste disposal and aggregate
trucking including heavy-haul highway tractors.
Change Energy is the industry's leading provider of end-to-end
compressed gas fuelling solutions, from feasibility and planning to
design and delivery. The company offers a full range of project
competencies and services that ensure the practicality, safety and
cost-effectiveness of a compressed gas project. Change Energy Inc.
has significant experience with large scale natural gas
infrastructure installations and CNG on wheels gas transport
solutions.
Qualified
Person
R. Ritchie, P.Eng is an Independent Qualified Person as defined
by NI 43-101. Mr. Ritchie visited the Clavos JV deposit property on
several occasions between August and October, 2012, and provides
overall responsibility for the technical content of this Press
Release which includes the mining study CAPEX and OPEX cost
estimates and the PEA. Mr. Ritchie has read and consents to the
disclosure of the technical content of this press release.
This PEA is deemed to be reliable at +/- 50% by Mr. R. Ritchie,
Qualified Person for the PEA. Mineral resources are not mineral
reserves and do not have demonstrated economic viability. The
preliminary assessment is preliminary in nature, as it includes
inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as mineral reserves, and
there is no certainty that the preliminary economic assessment will
be realized.
Sage is a mineral exploration and development company which has
primary interests in near-term production and exploration
properties in Ontario. Its main properties are the Clavos Gold
deposit in Timmins and the Lynx deposit and other exploration
properties in the Beardmore-Geraldton Gold Camp. Technical reports
and information relating to the properties can be obtained from the
System for Electronic Document Analysis and Retrieval (SEDAR)
website at www.sedar.com and www.sagegoldinc.com.
This release was prepared by management of the Company who takes
full responsibility for its contents. Neither 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.
This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended and "Forward Looking Information"
within the meaning of applicable Canadian securities legislation.
Some forward looking statements and forward looking information
contained in this release are forward-looking and, therefore,
involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments
regarding mining and milling operations, mineral resource
statements and exploration program performance. Factors that could
cause actual results to differ materially include metal price
volatility, economic and political events affecting metal supply
and demand, fluctuations in mineralization grade, geological,
technical, mining or processing problems, exploration programs and
future results of exploration programs, future profitability and
production.
Sage Gold Inc.Nigel LeesPresident and
CEO416-204-3170416-260-2243www.sagegoldinc.com
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