Sabina Gold & Silver Corp (TSX:SBB) is pleased to announce more positive results from the 2013 work campaign on its 100% owned Back River project in Nunavut.
“Drilling at Llama continues to return stellar results,” said Rob Pease, President & CEO. “The in pit conversion drilling demonstrates more confidence in the deposit with each set of results. Work is aggressively advancing at Back River project with nine drill rigs working at George and Goose. Work on camp and infrastructure upgrades has also been successful to date in 2013. At Goose, a new all weather airstrip has been completed, providing greater access for larger aircraft improving logistics and cost efficiency for the project.”
The 2013 Back River program is focussed on work to complete the on-going pre-feasibility study and to support a potential subsequent feasibility study; the PFS is expected to be completed in the third quarter. Environmental and baseline work also continues with the objective of filing of a draft environmental impact statement by year end.
Back River – Llama
In the Goose project area, drilling at Llama is currently focussed on converting resources to the measured and indicated category in the proposed pit. Drilling is progressing well and continues to demonstrate confidence in supporting strong zones of shallow high grade gold mineralization amenable to open pit extraction.
All planned 33 holes at Llama are now complete with assays for 4 holes still pending.
The objective at Llama has been to convert a significant portion of the mineralization to the measured category. Highlights supporting this process include holes 13GSE300 returning 15.20 g/t Au over 20.90m, 13GSE292 returning 19.86 g/t Au over 16.65m, 13GSE285B returning 11.56 g/t Au over 32.40m including 49.12 g/t Au over 5.55m, 13GSE305 returning 11.85 g/t Au over 14.35m including 18.33 g/t Au over 7.40m and 13GSE304 returning 8.27 g/t Au over 29.40m including 23.98 g/t Au over 5.00m.
Drilling at the Goose project also continues on brownfields exploration targets. Exploration holes have recently been drilled at the Camp, Wing, and Resurgence Zones, either following up on known mineralization or testing reinterpretation of models. Drilling is currently underway at the Echo, a 2010 discovery that has been reinterpreted and found to have new prospectivity and at Boomerang, a conceptual target west of the Goose Main deposit.
At Goose, a quarry and a mobile crushing plant was commissioned in close proximity to the camp to provide crushed rock/gravel for the construction of an all-weather airstrip at Goose Camp. The airstrip is now complete and operational, allowing for larger aircraft to transport personnel, supplies and equipment more cost effectively.
The Qualified Person as defined by NI 43-101 as pertains to the Back River Project, is Kaesy Gladwin, P. Geo and Senior District Geologist for the Company.
True widths for the intercepts reported in this news release have not yet been determined.
Diamond drill core was sent to TSL Laboratories in Saskatoon, Sask. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2013 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the Company’s 43-101 compliant resource reports.
SABINA GOLD & SILVER CORP.
Sabina Gold & Silver Corp. is an emerging gold developer with district scale, world class assets in one of the world’s newest, most politically stable mining jurisdictions: Nunavut, Canada.
Sabina’s primary assets, all located in Nunavut, consist of: the Back River Gold Project, currently in the pre-feasibility and permitting phase; the Wishbone Claims, a vastly prospective grass roots project; and the Hackett River Silver Royalty, a silver production royalty on Xstrata Zinc’s Hackett River project comprising 22.5% of the first 190 million ounces produced and 12.5% of all the silver produced thereafter. The company ended December 31, 2012 with approximately $116 million in cash.
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We acknowledge the [financial] support of the Government of Canada.