Mr. Tony Walsh reports
SABINA GOLD & SILVER ANNOUNCES DISCOVERY OF NEW MINERALIZED LENSES AND COPPER STRINGER ZONES AT HACKETT RIVER PROJECT, NUNAVUT
Sabina Gold & Silver Corp. has provided additional positive drill results on its 100-per-cent-owned Hackett River silver-zinc and Wishbone projects in Nunavut, Canada.
Highlights:
- SHR10-39A at East Cleaver encounters a new lens returning 118.5 metres of 106
grams per tonne silver and 2.13 per cent zinc including 211 g/t Ag and 3.55 per cent Zn over 59.8 m.
- SHR10-48 at Main zone West encounters new stringer zone returning 24.4 m
of 3.56 per cent copper.
- SHR10-41 at Main zone West intersects 17.1 m of massive sulphides grading
598 g/t Ag, 22.81 per cent Zn, 0.02 per cent Cu, 2.96 per cent lead and 3.42 g/t Au.
Hackett River
A total of 19,465 metres in 84 holes has been drilled to date in a planned 20,000-metre $10-million program at Hackett River. Drilling will continue into mid-September.
Exploration programs in 2010 at Hackett focused on quantifying previously identified targets with a view to increasing the existing resource by at least 10 per cent. To this end, drilling has focused on finding higher-value mineralization (copper/silver/gold stringer zones), drilling peripherally to the current deposits to identify additional mineralization, and infill drilling the currently proposed pit shells in an effort to convert waste material to mineralization.
Drilling continues to intersect new mineralization within and outside but proximal to the currently proposed pits at East Cleaver, both of the Main deposits and the Boot deposit.
Highlights include: at East Cleaver, the discovery of a significant new lens of massive sulphide mineralization immediately to the west of the deposit, which may represent the extension of the East Cleaver deposit and which remains open at depth and to the west; and, at Main zone West, the definition of a new strong zone of copper stringer mineralization in the immediate footwall to the deposit.
"Our accomplishments at Hackett River in 2010 continue to move us towards our objectives to positively impact the early year economics of the proposed Hackett River silver-zinc mine by increasing the global resource of the project and enhancing existing open-pit models," said Tony Walsh, president and chief executive officer. "Additionally, the company has engaged BMO Capital Markets to solicit investors or partners in the Hackett River project and to advise the company in its pursuit of strategic alternatives to advance the tremendous potential of this project."
East Cleaver
A total of 14 holes has been drilled to test the south limb of the Cleaver fold structure immediately to the west of the known East Cleaver deposit.
Work in 2010 has demonstrated that the south limb of the Cleaver structure dips to the south at surface and then folds back on itself at a shallow depth and reverses to a northward dip.
This new massive sulphide lens was first identified by recently completed hole SHR-10-39A which was drilled in the hinge of this fold nose and returned 118.55 metres of stringer, semi-massive and massive sulphide mineralization averaging 106 g/t Ag and 2.13 per cent Zn. Within this is a core of massive sulphide which returned 211 g/t Ag and 3.55 per cent Zn over 59.8 metres. The drilling of 30-metre step-outs to the west has intersected similar-style mineralization in holes SHR-10-45, SHR-10-47 and SHR-10-49. Hole SHR-10-49 returned 53.95 metres of massive sulphide averaging 200 g/t Ag and 4.37 per cent Zn. Hole SHR-10-51 approximately 30 metres east of hole SHR-10-39A also encountered massive sulphides.
This significant new zone of massive sulphide mineralization may be an extension of the East Cleaver deposit which is immediately to the east. This new zone remains open at depth and to the west and is situated within and slightly below the currently proposed pit outline in an area that was previously considered not mineralized due to lack of drilling. Continued drilling will attempt to trace this new lens westward. Additional drilling at East Cleaver is also targeting gaps in the resource model near surface (for example, SHR-10-42 at 79.25 m averaging 76 g/t Ag, 3.66 per cent Zn including higher-grade zones) and along strike between East Cleaver and Knob Hill.
EAST CLEAVER HIGHLIGHTS
Inter-
East From To val Ag Zn Cu Pb Au
Cleaver (m) (m) (m) (g/t) (%) (%) (%) (g/t)
hole No.
SHR-10-39A 81.00 140.80 59.80 211 3.55 0.04 0.88 0.13
including 113.65 127.10 13.45 341 7.69 0.04 1.94 0.07
SHR-10-42 25.65 59.50 33.85 93 8.15 0.13 0.77 0.10
including 43.60 56.55 12.95 148 13.47 0.08 1.59 0.09
SHR-10-45 47.50 62.55 15.05 46 0.20 1.23 0.00 0.23
and 69.15 78.15 9.00 39 0.81 1.01 0.01 0.15
SHR-10-47 123.45 127.40 3.95 90 2.54 2.18 0.01 0.12
and 223.50 226.55 3.05 1058 0.03 0.02 0.19 9.15
and 229.50 242.35 12.85 18 7.12 0.04 0.04 0.09
SHR-10-49 159.30 213.25 53.95 200 4.37 0.06 0.78 0.16
including 182.95 203.30 20.35 267 7.88 0.03 1.49 0.06
including 186.90 187.70 0.80 2440 1.94 0.20 14.35 0.12
SHR-10-51
including 4.05 8.10 4.05 182 0.56 2.55 0.77 0.26
including 33.50 34.70 1.20 163 1.89 0.84 0.23 17.05
(i) Drill widths reported. True widths have yet to be determined.
Main zone West
A total of 4,719 metres of drilling in 17 holes has been completed at Main zone West in 2010 where drilling is focusing on defining high-grade footwall copper stringer mineralization. At least two subparallel zones of copper stringer mineralization occur below the massive sulphide horizon at Main zone West and historical drilling has locally intersected significant thicknesses of copper mineralization grading in excess of 2 per cent copper.
In order to explore these footwall targets, a number of zones require drilling through the main massive sulphide horizon to get to the target horizon. This will provide additional pierce points for confirming the results of earlier holes which did not have accurate drill-hole location information. An example of this is hole SHR-10-41 which intersected 17.1 metres of massive sulphide averaging 598 g/t Ag, 22.81 per cent Zn, 0.02 per cent Cu, 2.96 per cent Pb and 3.42 g/t Au.
A highlight of the copper stringer drilling is evident in hole SHR-10-48 which intersected a well-developed copper horizon that averaged 1.58 per cent Cu over 72.15 metres including a 24.4-metre interval grading 3.56 per cent Cu. This intersection is immediately below the northern wall of the proposed Main zone pit and is not included in the existing resource. Drilling to define the extent of this zone continues.
The copper/gold/silver stringer mineralization targeted by the program is near surface, not included in the current resource and in an area on the property that is virtually untested.
MAIN ZONE WEST HIGHLIGHTS
Main Inter-
zone From To val Ag Zn Cu Pb Au
West (m) (m) (m) (g/t) (%) (%) (%) (g/t)
hole No.
SHR-10-40 113 152.78 39.78 30 2.09 0.03 0.25 0.14
including 146.9 152.78 5.88 255 7.11 0.09 0.62 0.08
SHR-10-41 6.45 23.55 17.1 598 22.81 0.02 2.96 3.42
and 54.4 92.03 37.63 37 2.23 0.38 0.17 1.12
SHR-10-43 51.5 54.5 3 269 1.1 0 0.37 0.66
SHR-10-48 37 61.3 24.3 50 2.94 0.64 0.14 0.38
and 102.1 108.3 6.2 22 0.03 1.03 0 0.18
and 136.85 209 72.15 9 0.02 1.58 0 0.02
including 160.5 198.1 37.6 15 0.02 2.61 0.01 0.04
including 160.5 184.9 24.4 20 0.05 3.56 0 0.05
(i) Drill widths reported. True widths have yet to be determined.
Boot
A total of 2,393 metres in eight holes was completed in 2010 during the winter program at the Boot deposit targeting the shallow northern and southern margins of the deposit as well as gaps in the resource model where earlier holes had incompletely tested the mineralized horizon.
These holes were also used as platforms to test for copper stringer mineralization immediately below the massive sulphide horizon.
New unreported results from this drilling include hole SHR10-33 which returned a near-surface intercept of 136 g/t Ag and 5.32 per cent Zn over 11.6 metres. This hole extends the Boot deposit an additional 50 metres to the north.
BOOT HIGHLIGHTS
Inter-
From To val Ag Zn Cu Pb Au
Boot hole No. (m) (m) (m) (g/t) (%) (%) (%) (g/t)
SHR-10-33 20.70 32.30 11.60 136 5.32 0.13 0.64 0.32
(i) Drill widths reported. True widths have yet to be determined.
Main zone East
Drilling at Main zone East was focused on extending the known mineralized zone to the south and east.
A total of 1,697 metres in eight holes has been completed at the Main zone East to date. Drilling during the winter was focused on extending the known mineralized zone to the south and east. Significant silver-rich intersections have been returned from drilling immediately to the south of the known deposit and just beyond the currently proposed pit outline. Final results from this program include hole SHR10-21 which intersected an 8.75-metre-wide zone grading 559 g/t Ag and 1.34 g/t Au.
MAIN ZONE EAST HIGHLIGHTS
Main Inter-
zone From To val Ag Zn Cu Pb Au
East (m) (m) (m) (g/t) (%) (%) (%) (g/t)
hole No.
SHR-10-21 53.25 62.00 8.75 559 1.10 0.15 0.33 1.34
(i) Drill widths reported. True widths have yet to be determined.
Wishbone
May zone/D'Arcy corridor
A 5,000-metre program for a total of $6-million was planned at Wishbone for 2010. Currently, 4,558 metres in 25 holes have been completed.
Drilling focused on the May zone to the North D'Arcy corridor and continues to intersect massive, semi-massive and stringer sulphide mineralization within a highly altered felsic volcanic unit.
The May zone has been traced over a 2,000-metre strike length, is tabular and plunges shallowly to the south. The best intercepts from the 2010 drilling include: SWB-10-25 (5.07 per cent Zn and 0.96 per cent Cu over 5.90 m), SWB-10-27 (10.7 per cent Zn and 0.25 per cent Cu over 3.9 m) and SWB-10-29 (5.56 per cent Zn and 0.45 per cent Cu over 10.3 m).
The zone has been explored southward to the North D'Arcy area where hole SWB-10-02 returned 261 g/t Ag, 5.61 per cent Zn, 5.22 per cent Cu, 0.55 per cent Pb and 0.48 g/t Au over 1.55 metres. Plans to complete sufficient drilling to define a National Instrument 43-101 resource on the May zone will likely be deferred until 2011 as supplies and personnel have been redirected to meet expanded drilling of the new discoveries at the company's adjacent Back River gold project.
Watson Lake
The Watson target is an extensive electromagnetic target that can be traced for over 1,000 m from north of Watson Lake, where a surface grab sample in 2009 returned 5,160 g/t Ag, 30.3 g/t Au, 5.2 per cent Zn and 2.21 per cent Pb to the middle of D'Arcy Lake. In 11 holes, 1,376 metres were drilled to test this anomaly.
Results were returned for hole SWB-10-6 where 53 g/t Ag, 0.93 per cent Cu, 5.86 per cent Zn, 0.04 per cent Pb and 0.02 g/t Au were intersected over 1.63 m at a downhole depth of 79 m and, for hole SWB-10-08, where 20 g/t Ag, 0.22 per cent Cu, 6.53 per cent Zn, 0.16 per cent Pb and 0.03 g/t Au were intersected over 3.49 m at a downhole depth of 99.9 m (reported in Stockwatch on June 7, 2010).
Inter-
From To val Ag Zn Cu Pb Au
Zone Hole No. (m) (m) (m) (g/t) (%) (%) (%) (g/t)
North
D'Arcy SWB-10-02 69.2 70.75 1.55 261 5.61 5.22 0.55 0.48
Watson SWB-10-10 101.48 107.02 5.54 12 4.54 0.2 0.05 0.01
SWB-10-20 39.1 43.2 4.1 24 3.83 0.38 0.01 0.03
May SWB-10-21 89.9 98.7 8.8 29 2.02 0.56 0.06 0.05
SWB-10-25 156.95 162.85 5.9 44 5.07 0.96 0.05 0.05
SWB-10-27 58.7 62.6 3.9 47 10.7 0.26 0.94 0.09
SWB-10-28 165.55 174.4 8.85 47 3.58 0.29 0.29 0.01
SWB-10-29 173.45 183.75 10.3 37 5.56 0.45 0.08 0.04
(i) Drill widths reported. True widths have yet to be determined.
Quality assurance
Peter Manojlovic, PGeo, and vice-president, exploration, of Sabina Gold, is a qualified person under the terms of NI 43-101 and has reviewed the technical content of this press release and approved its dissemination.
Diamond drill core was sent to ALS Chemex in North Vancouver, B.C. Quality control is monitored on a continual basis and uses a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2010 are the same as those used in earlier campaigns by Sabina Gold & Silver and have been deemed appropriate in the above-noted 43-101-compliant resource reports.
This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver.
Inter-
From To val Ag Zn Cu Pb Au
Zone Hole No. (m) (m) (m) (g/t) (%) (%) (%) (g/t)
Main
zone
East SHR-10-21 53.25 62 8.75 559 1.1 0.15 0.33 1.34
Boot SHR-10-33 20.7 32.3 11.6 136 5.32 0.13 0.64 0.32
East
Cleaver SHR-10-39A 22.25 140.8 118.55 106 2.13 0.03 0.41 0.11
including 81 140.8 59.8 211 3.55 0.04 0.88 0.13
including 113.65 127.1 13.45 341 7.69 0.04 1.94 0.07
SHR-10-42 14.8 94.05 79.25 76 3.66 0.11 0.38 0.18
including 25.65 59.5 33.85 93 8.15 0.13 0.77 0.1
including 43.6 56.55 12.95 148 13.47 0.08 1.59 0.09
SHR-10-45 47.5 62.55 15.05 46 0.2 1.23 0 0.23
and 69.15 78.15 9 39 0.81 1.01 0.01 0.15
SHR-10-47 112 165.8 53.8 27 2.09 0.52 0.01 0.08
including 123.45 127.4 3.95 90 2.54 2.18 0.01 0.12
and 222.05 226.55 4.5 788 0.06 0.02 0.18 6.85
and 229.5 242.35 12.85 18 7.12 0.04 0.04 0.09
SHR-10-49 159.3 213.25 53.95 200 4.37 0.06 0.78 0.16
including 182.95 203.3 20.35 267 7.88 0.03 1.49 0.06
including 182.95 188.5 5.55 473 9.71 0.04 2.71 0.05
SHR-10-51 4.05 21 16.95 63 0.34 0.98 0.2 0.1
including 4.05 8.1 4.05 182 0.56 2.55 0.77 0.26
including 33.5 34.7 1.2 163 1.89 0.84 0.23 17.05
and 144 189.55 45.55 84 1.65 0.07 0.21 0.14
Main SHR-10-40 43.67 63.5 19.83 133 1.14 0 0.33 0.1
zone and 113 152.78 39.78 30 2.09 0.03 0.25 0.14
West including 146.9 152.78 5.88 255 7.11 0.09 0.62 0.08
SHR-10-41 6.45 23.55 17.1 598 22.81 0.02 2.96 3.42
and 54.4 92.03 37.63 37 2.23 0.38 0.17 1.12
including 59.65 65.5 5.85 61 8.5 0.04 0.71 0.32
including 81.2 85 3.8 132 1.57 2.77 0.01 0.69
SHR-10-43 51.5 54.5 3 269 1.1 0 0.37 0.66
and 119.15 129.2 10.05 15 3.33 0.05 0.12 0.14
including 119.15 122.5 3.35 19 6.76 0.03 0.29 0.14
and 140.55 144.5 3.95 12 4.43 0.11 0.04 0.11
SHR-10-48 37 78.1 41.1 37 1.78 0.55 0.09 0.3
including 37 61.3 24.3 50 2.94 0.64 0.14 0.38
including 47 49.4 2.4 60 12.21 0.68 0.18 0.14
and 102.1 108.3 6.2 22 0.03 1.03 0 0.18
and 136.85 209 72.15 9 0.02 1.58 0 0.02
including 160.5 198.1 37.6 15 0.02 2.61 0.01 0.04
including 160.5 184.9 24.4 20 0.05 3.56 0 0.05
including 168.4 184.9 16.5 27 0.06 4.72 0.01 0.06
including 174.75 177.7 2.95 55 0.11 9.94 0.01 0.15
including 181.8 182.78 0.98 78 0.21 14.7 0.01 0.15
including 184 184.9 0.9 113 0.27 19.5 0.01 0.06
North
D'Arcy SWB-10-02 69.2 70.75 1.55 261 5.61 5.22 0.55 0.48
Watson SWB-10-10 101.48 107.02 5.54 12 4.54 0.2 0.05 0.01
SWB-10-11 73.5 74.6 1.1 50 6.1 1.14 0 0.03
SWB-10-18 48.9 51 2.1 23 5.07 0.27 0.01 0.05
SWB-10-19 6.15 14.65 8.5 28 1.26 0.02 0.33 0.10
and 38.9 39.9 1 44 10.35 0.55 0.02 0.04
SWB-10-20 8.65 17.2 8.55 38 1.2 0.07 0.37 0.11
including 8.65 10.15 1.5 74 3.19 0.11 1.48 0.30
and 39.1 43.2 4.1 24 3.83 0.38 0.01 0.03
May SWB-10-21 80.75 81.05 0.3 18 24.8 0.1 0.04 0.04
and 89.9 98.7 8.8 29 2.02 0.56 0.06 0.05
SWB-10-22 91 92.4 1.4 6 5.65 0.17 0.01 0.01
SWB-10-25 156.95 162.85 5.9 44 5.07 0.96 0.05 0.05
SWB-10-27 58.7 62.6 3.9 47 10.7 0.26 0.94 0.09
SWB-10-28 165.55 174.4 8.85 47 3.58 0.29 0.29 0.01
including 172.15 174.4 2.25 49 8.31 0.52 0.42 0.03
SWB-10-29 173.45 183.75 10.3 37 5.56 0.45 0.08 0.04
including 182.25 184.05 1.8 85 13.3 0.98 0.13 0.04
(i) Drill widths reported. True widths have yet to be determined.
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