NEW YORK, Oct. 5, 2011 (GLOBE NEWSWIRE) -- Sagebrush Gold, Ltd. (OTCBB:SAGE) and Continental Resources Group, Inc.(OTCBB:CRGC) announced today that Sagebrush Gold has commenced Phase One drilling at the Relief Canyon Gold Project, located in the Antelope Springs mining district, Pershing County, 15 miles Northeast of Lovelock Nevada. The first phase of core drilling commenced on the Deep North Zone in late September and is being drilled by Carpenter Drilling, a private core drilling company, of Benton City, Washington. Sagebrush Gold staff has designed an initial drill program to further test this area consisting of 11 HQ diameter core holes ranging from 500 feet to 1500 ft. The total Phase One core program is planned for 14,300 feet of core to be drilled.
The Company plans to conduct up to 18,000 feet of core drilling to test the North Deep target, located approximately ½ mile to the north of the existing resource at the Relief Canyon Mine. The objective of the drill program is to further test mineralized zones found by previous operators. Mineralization has been identified in the North Target Area using Reverse Circulation and Core drill holes but insufficient information was collected from the drilling to determine the continuity or stratigraphic alignment of the mineralized material. Following phase one, the Company plans to conduct a 10,000 ft drill program in and adjacent to the current in pit resource to expand and upgrade existing resources.
Company Chairman Barry Honig commented, "We are excited to have started Phase One drilling at the Relief Canyon Gold Project and are especially pleased that we were able to begin the first stage of an extensive drill campaign less than one month after closing the acquisition of Relief Canyon. As previously stated, the Company hopes to add shareholder value by increasing our gold resource and we believe that we will be able to do so at Relief Canyon."
The Relief Canyon Gold Project is located in Packard Flat, which is located in the Antelope Springs mining district, Pershing County, 15 miles Northeast of Lovelock Nevada and is a past producing gold mine. The Company acquired the Relief Canyon project on August 31, 2011 (please see News Release of that date for further details).
About Sagebrush Gold, Ltd.
Sagebrush Gold, Ltd. is a junior gold exploration company focused on searching for world class resources and seeking out potentially significant gold exploration and development targets in Nevada's leading gold districts.
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release. This press release should be read in conjunction with the Risk Factors contained in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Risk Factors set forth in the Company's Current Report on Form 8-K, filed with the SEC on June 10, 2011.