South Atlantic Gold Reports Highest Grade Assay Result; Over 200 Results Indicate Mineralization Along Trend
TSX-V: SAO
South Atlantic Gold Reports Highest Grade Assay Result;
Over 200 Results Indicate Mineralization Along Trend
Kelowna, British Columbia, March 9, 2022 - SOUTH ATLANTIC GOLD INC. (TSX-V: SAO) (“South Atlantic”
or the “Company”) announces that the Phase II Exploration program is proceeding well and early results
demonstrated a high-grade sample of 96.04 grams per tonne (“g/t”) gold (“Au”) over 1 meter (“m”) at the
Barra Nova target. This assay result (which was re -assayed), among others highlighted below , are
confirming mineralization along 40 kilometers (“km”) of the regional strike length, and to the south of the
initial Pedra Branca resource.
Douglas Meirelles, CEO stated, “We planned Phase II on the basis of two main goals, being the first goal
to maintain the tenements in good standing with the Brazilian Mining Agency (“ANM”). I am happy with
the progress we have made so far and expect that all due reports to the ANM will be delivered on time.
The second goal is to identify more areas of interest and continuous mineralization in the southern portion
of the tenement areas. So far, we have identified e ncouraging early trench results that demonstrate
bedrock mineralization along the targeted structure, extending the mineralized trend beyond the areas of
the current resource. In conjunction with the current trenching program and part of the Phase II , we are
quoting an airborne geophysical program over the strike extensions of the known mineralization that will
further highlight, rank, and prioritize the targets of the Pedra Branca asset.”
Exploration Activities
The Phase II exploration program has commenced and its trenching program consists of 47 trenches
representing a total of 9,880 m . These trenches are part of the entire program, which seeks to
systematically prove the mineralized extensions of the current trends along the southern areas of the
Pedra Branca tenement package.
To date, the company reports the following highlighted results, averaging 20 km south and along the trend
of the current resource at Coelhos-Quemadas. Refer to Annex Map here:
• At the Barra Nova target, the following trench results were intercepted:
o 3 m grading 32.63 g/t Au including 1 m grading 96.04 g/t Au and 1 m grading 1.58 g/t Au
• At the Cachoeirinha target, the following trench results were intercepted
o 8 m grading 0.94 g/t Au including 2 m grading 3.3 g/t Au
o 2 m grading 0.47 g/t Au
o 8 m grading 0.59 g/t Au including 2 m grading 1.75 g/t Au
• At the Muquem Norte target, the following trench results were intercepted including
o 2 m grading 0.59 g/t Au
o 2 m grading 0.54 g/t Au
• Over 200 samples have had positive results above our threshold of 50 parts per billion (“ppb”) or
0.05 g/t Au. This indicates that all the tenements we explored so far are demonstrating the
potential of the continuous mineralization in the known trends. Detailed results can be seen on
the website here.
TSX-V: SAO
Qualified Person’s Statement
The scientific and technical information that forms the basis for parts of this news release was reviewed
and approve d by Marcelo Antonio Batelochi (P.Geo.), MAUSIMM (CP), the Company’s Exploration
Manager who is a Qualified Person as defined by NI 43-101.
Re-Assay Result
The original high-grade sample that triggered the re-assay was taken from the PB-TR-047 trench located
within the Barra Nova target from 20 to 21 meters along the trench (sample number 7133). Because this
sample was so much greater than previous samples, a nugget effect and/or free gold was suspected. The
re-analysis divides the sample into two granulome tric fractions, one greater than 150 microns and the
other smaller than 150 microns. The test is conducted with a large, one kilogram (“kg”) sample using a
metallic screen to divide the sample into the sizes to be assayed. The purpose of this process is to provide
sample heterogeneity to minimize the nugget effect.
Duplicate
Screen
Mass Gold
g % g/t Content %
> 150 microns 30.82 3.3% 1982.96 46.8%
< 150 microns 891.68 96.7% 78.02 53.2%
Global (Calc) 922.5 141.66
This result confirms the high grade of the duplicate and illustrates that approximately 46.8 percent (“%”)
of the gold content is associated with 3.33% of the mass of the duplicate. Provided future studies are
conducted, there is the possibility of using gravimetric recovery in this area of the Pedra Branca project.
About South Atlantic Gold
South Atlantic Gold is an exploration company engaged in acquiring and advancing mineral properties
located in the Americas. Our flagship asset is the 100%-owned Pedra Branca project, located 280 km
southwest of Fortaleza, Cear á State, Brazil. South Atlantic Gold is focused on creating value for its
shareholders by engaging in the development and acquisition of high -quality mineral assets located in
stable and mining-friendly jurisdictions. South Atlantic Gold is based in Kelowna, British Columbia, and is
listed on the TSX-V under the symbol “SAO”.
ON BEHALF OF THE BOARD
Douglas Meirelles, President and CEO
For more information regarding this news release, please contact:
Anne Hite, Vice President, Investor Relations
TSX-V: SAO
T: 250-762-5777
Email: [email protected]
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute "forward -looking Information", as such term is used in
applicable Canadian securities laws . Such forward -looking information involves known and unknown risks,
uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or
developments in the industry to differ materially from the anticipated results, performance or achievements
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Although the Company believes the forward-looking information contained in this news release is reasonable based
on information available on the date hereof, by its nature forward-looking information involves assumptions and
known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity,
performance or achievements, or other future events, to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking information. There can be no assurance that the
Fundamental Acquisition will be completed as proposed or at all.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and
uncertainties associated with general economic conditions; the Covid -19 pandemic; adverse industry events; the
receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good
relationships with the communities in which it operates or proposes to opera te, future legislative and regulatory
developments in the mining sector; the Company ’s ability to access sufficient capital from internal and external
sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and
generally; the ability of the Company to implement its business strategies; competition; the risk that any of the
assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks
associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that
results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties
applicable to mineral exploration an d development activities and to the Company, including as set forth in the
Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF
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WITH APPLICABLE LAWS.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
TSX-V: SAO
Annex
Summary of Key Intercepts at Pedra Branca Project