Mr. Tony Walsh reports
SABINA GOLD & SILVER REPORTS CONTINUED POSITIVE RESULTS AT BACK RIVER AND WISHBONE GOLD PROJECTS, NUNAVUT
Sabina Gold & Silver Corp. has released additional assay results from holes drilled as part of the 2011 exploration program on its targets at the Goose property and new results from exploration drilling on the Wishbone property at its 100-per-cent-owned Back River project in Nunavut, Canada.
The 2011 drilling campaign at Back River has two objectives:
- To expand and extend the existing deposits at Umwelt and Llama;
- To make new discoveries using the company's exploration tool box, focusing on open pit targets on the Goose and George claim blocks, as well as the Wishbone claims that were retained after the Hackett River transaction.
A new discovery has been made on the Wishbone claim block adjacent to the Back River assets. The Bullwinkle/Lucky 7 target is approximately 30 kilometres southwest of the George claim block and is from the first drilling of a new regionally extensive horizon that can be traced for over 60 kilometres. Drilling at the target intersected two zones of mineralization in hole SWB-11-07. The first zone consists of an altered fault gouge zone with shearing and quartz veining with up to 5 per cent pyrite and pyrrhotite. This zone graded 71.30 grams per tonne gold over 1.50 metres. A second zone consisting of silica-rich breccia fragments in a dark quartz-feldspar-biotite-pyrrhotite matrix graded 3.35 grams per tonne gold over 14.65 metres including 6.45 grams per tonne gold over 4.50 metres.
At Goose, a new tool box discovery has been made at Goose Neck South, located 1.3 kilometres southeast of the Umwelt deposit. Hole 11GSE087 returned 3.44 grams per tonne gold over 10.85 metres in silicified and sulphidized iron formation and is similar in style to that of the Umwelt deposit.
The Umwelt deposit at Goose continues to expand. Most significantly, new assay results from Umwelt hole 11GSE075 returned 13.43 grams per tonne gold over 24.40 metres including 34.40 grams per tonne gold over 8.25 metres which included 3.0 metres grading 72.80 grams per tonne gold. Separate intervals returned values of 1.57 grams per tonne gold over 5.45 metres and 4.25 grams per tonne gold over 1.0 metre. This hole is 50 metres north of the southernmost drill hole at Umwelt and is the deepest to date at a vertical depth of 640 metres. Additional assay results have also been returned for Umwelt hole 11GSE052 (reported previously on July 18) which has increased the width of the mineralized zone by an additional 7.0 metres. This hole now grades 10.19 grams per tonne gold over 33.0 metres including 27.16 grams per tonne gold over 9.0 metres. Umwelt has been traced for 1.4 kilometres along strike and an increase in resources is anticipated as a result of this year's drilling.
"Our work at Back River continues to be successful. In our 2011 campaign, we have extended and expanded our Umwelt deposit and we have made a number of new discoveries, at Goose, George and now on the Wishbone claim block," said Tony Walsh, president and chief executive officer. "As we apply our tool box to other claim blocks, including Wishbone, we are very encouraged by the success we are having in identifying gold structures. While not all the discoveries we make will be of the nature and size we are looking for, our success rate in finding gold on the limited number of targets tested this year is excellent. We have years and years of targets still to test on these prospective land packages, and we are confident that we will continue to find gold."
There are currently nine drills operating at Back River and Wishbone. Seven drills are operating on the Goose property, where two drills are shifting from resource expansion to focusing on the numerous untested targets within the five-kilometre corridor containing the Goose, Llama and Umwelt deposits. Two rigs are operating on the Wishbone property. The current phase of drilling on the George property is now complete, with numerous assays still pending.
To date, at Back River (Goose and George), a total of 160 holes and 51,000 metres of core have been drilled in 2011. At the company's Wishbone gold project, the company has drilled 6,830 metres in 26 holes. Many assays from both projects are still pending.
Wishbone drilling
Drilling is under way on the Wishbone project that is located 30 kilometres southwest of George in a similar geological setting for gold. To date, three holes have returned significant gold intersections. Assays are pending on 10 of the 26 holes.
Hole SWB-11-07 drilled on the Lucky 7 target in the Bullwinkle area in the northern portion of the project intersected two zones of mineralization. The first graded 71.3 grams per tonne gold over 1.50 metres in a fault structure and a second breccia zone returned 3.35 grams per tonne gold over 14.65 metres including 6.45 grams per tonne gold over 4.50 metres. Drilling in the Bullwinkle area is continuing and the company will be aggressively following up this discovery and the regionally extensive feature that can be traced for over 60 kilometres.
Drilling in the Rocky area in the southern portion of the Wishbone project has also intersected significant gold mineralization over wide widths. Assays for two holes have been received: hole SWB-11-10 returned 1.07 grams per tonne gold over 34.15 metres including 2.26 grams per tonne gold over 8.40 metres including a higher-grade section that returned 5.97 grams per tonne gold over 1.85 metres. A second separate interval in the hole graded 1.04 grams per tonne gold over 7.20 metres. Hole SWB-11-11, located 375 metres northeast of hole 10, returned 0.83 gram per tonne gold over 26.2 metres including 1.19 grams per tonne gold over 8.90 metres and a separate zone that graded 0.92 gram per tonne gold over 6.4 metres including 2.46 grams per tonne gold over 1.80 metres. These intersections occur in strongly pyrrhotite mineralized silicate and oxide iron formation. A maximum/minimum electromagnetic anomaly associated with the mineralization can be traced for over 1.0 kilometre. Assay results are pending on additional holes drilled in this area.
WISHBONE GOLD TARGET
RECENT ASSAY RESULTS
From To Length Au
Hole ID (m) (m) (m) (g/t)
SWB-11-07 98.00 99.50 1.50 71.30
And 287.00 301.65 14.65 3.35
Including 294.20 298.70 4.50 6.45
SWB-11-10 62.40 69.60 7.20 1.04
And 235.30 269.45 34.15 1.07
Including 256.25 264.65 8.40 2.26
Including 261.95 263.80 1.85 5.97
SWB-11-11 4.00 10.40 6.40 0.92
Including 7.00 8.80 1.80 2.46
And 103.20 129.40 26.20 0.83
Including 110.35 119.25 8.90 1.19
Note: True widths have not been
determined at this time.
Umwelt
Based on last year's drilling, the company reported indicated resources at Umwelt of 4,601,000 tonnes grading 6.0 grams per tonne gold for a total of 900,000 ounces gold and an additional inferred resource of 1,067,000 tonnes grading 6.4 grams per tonne gold for a total of 221,000 ounces gold over a strike length of 550 metres.
To date, a total of 46 holes totalling 24,150 metres have been drilled or are in progress on the Umwelt zone at the Goose property. Results continue to demonstrate that Umwelt is a strong, well-mineralized system with excellent geological and gold grade continuity.
Currently at Umwelt, five drills are active, drilling the deposit to the south, with holes designed to advance the new mineralization to the resource level. New assay results have been returned for holes 052, 056, 057, 061, 062, 065, 068 and 075. Additional assay results have been returned for hole 11GSE052 on Section 4450N (reported previously on July 18 and 100 metres south of the drilling conducted in 2010), increasing the width of the mineralized zone by 7.0 metres to 10.19 grams per tonne gold over 33.0 metres including 27.16 grams per tonne gold over 9.0 metres. This intersection is at a vertical depth of 375 metres. Hole 065 located on Section 4400N is an infill resource hole that returned 4.79 grams per tonne gold over a width of 20.84 metres and includes a zone which returned 10.0 grams per tonne gold over 7.23 metres and a separate zone that graded 15.42 grams per tonne gold over 6.0 metres. The mineralized zone was intercepted at a vertical depth of 300 metres. Hole 062 is an infill hole drilled on Section 4250N. This hole returned 3.35 grams per tonne gold over a width of 19.2 metres and includes a zone which returned 5.1 grams per tonne gold over 5.1 metres. Visible gold was noted at a number of intervals in the core and this intersection is at a vertical depth of 450 metres. Holes 057 and 068 are both from Section 4050N which is 100 metres north of the southernmost drill hole at Umwelt. Hole 057 intersected 5.64 grams per tonne gold over 6.70 metres at a vertical depth of 575 metres and hole 068 intersected 3.28 grams per tonne gold over 22.0 metres at a depth of 570 metres. Most significantly, hole 075, drilled 50 metres to the north of the company's southernmost hole at Umwelt (11GSE049) returned 13.43 grams per tonne gold over 24.40 metres including 34.40 grams per tonne gold over 8.25 metres at a vertical depth of 640 metres. These new results continue to demonstrate the strong continuity, thickness and grade of the mineralization at Umwelt.
The deposit continues to remain open along strike and to depth and plunges at a consistent 25 degrees. The mineralized zones are hosted within a turbiditic sedimentary sequence containing silicate and oxide facies iron formations. Gold dominantly occurs with quartz plus or minus carbonate veining and arsenopyrite plus or minus pyrite plus or minus pyrrhotite in the iron formation. Drilling at Umwelt has identified an anti-form structure with a fold hinge that plunges to the south. Thick zones of gold mineralization are associated with the fold hinge in what is now known as the Main zone. Mineralization also occurs along a separate iron formation horizon immediately to the west known as the Midway banded iron formation. The relationship between the Main and West zones is uncertain but the Midway banded iron formation zone may be a refolded limb of the Main zone.
UMWELT -- RECENT ASSAY RESULTS
From To Length Au
Hole ID (m) (m) (m) (g/t)
11GSE052 237.00 238.00 1.00 2.09
380.00 413.00 33.00 10.19
Including 393.00 402.00 9.00 27.16
11GSE056 492.00 501.75 9.75 2.53
11GSE057 673.00 675.00 2.00 5.45
676.80 677.30 0.50 21.35
686.00 692.70 6.70 5.64
including 690.00 692.00 2.00 15.91
11GSE061 318.53 319.60 1.07 3.33
380.00 390.00 10.00 3.34
Including 383.00 384.00 1.00 7.03
And 389.00 390.00 1.00 20.90
11GSE062 448.00 452.00 4.00 5.78
513.80 514.80 1.00 14.22
535.80 555.00 19.20 3.35
Including 538.90 544.00 5.10 5.11
11GSE065 319.39 340.20 20.84 4.79
333.00 340.20 7.23 10.00
Including 353.50 359.50 6.00 15.42
11GSE068 667.00 689.00 22.00 3.28
Including 667.00 671.00 4.00 6.08
683.00 689.00 6.00 7.08
11GSE075 691.15 696.60 5.45 1.57
713.00 737.40 24.40 13.43
726.00 734.30 8.25 34.40
728.00 731.00 3.00 72.80
749.20 750.30 1.10 4.25
Note: True widths are estimated to be 70 per cent
of the drill widths.
Goose Neck
The Goose Neck area located midway between the Goose and Umwelt deposits was identified by the company's tool box targeting methodology and has discovered thickened silicified and sulphidized oxide iron formation. Assay results for three holes have been returned for the zone, with hole 11GSE087 grading 3.44 grams per tonne gold over 10.25 metres. To date, eight holes totalling 1,700 metres have been drilled or are in progress at Goose Neck and the zone has been tested to a depth of 220 metres across a 175-metre strike length. The zone appears to plunge shallowly to the southeast and averages between 10 and 15 metres in thickness. Drilling continues on this new discovery.
GOOSE NECK -- RECENT ASSAY RESULTS
From To Length Au
Hole ID (m) (m) (m) g/t)
11GSE081 152.40 169.00 16.60 1.71
11GSE087 84.75 95.00 10.25 3.44
11GSE090 79.45 90.30 10.85 1.59
Note: True widths are estimated to be 70
per cent of the drill widths.
George Lake
Application of the exploration tool box was employed to search for new large shallow open pit deposits in the George area that would enhance economics of the existing underground resource at George has resulted in two new discoveries.
The Lookout Hill discovery consists of moderately folded oxide iron formation with strong quartz veining, shear-controlled mineralization (dominantly pyrite with minor arsenopyrite) and visible gold. Assay results from hole 11GRL025, a 100-metre south step-out on hole 11GRL022 (previously reported on June 28) returned 2.95 grams per tonne gold over 9.0 metres.
GEORGE/LOOKOUT HILL ASSAY RESULTS
From To Length Au
Hole ID (m) (m) (m) (g/t)
11GRL022 188.00 204.00 16.00 5.14
Including 192.50 199.45 6.95 11.31
And 197.00 198.00 1.00 31.38
11GRL025 234.00 243.00 9.00 2.95
Including 236.00 243.00 7.00 3.65
Note: True widths are estimated to be 70 per cent
of the drill widths.
At the Trigger discovery (reported on July 18), two follow-up holes were completed and assay results are pending. Drilling at George is complete for 2011 as the company's supplies have been exhausted. The company is awaiting additional assay results and going forward, it will be evaluating further work on these discoveries.
George contains a current indicated resource of 1.84 million tonnes grading 10.9 grams per tonne gold for a total of 590,000 ounces of gold and an additional inferred resource of 2.6 million tonnes grading 10.5 grams per tonne gold for a total of 866,000 ounces of gold and drilling of this area is 100 per cent focused on looking for new shallow open pit discoveries.
Goose resource update
The company has retained Roscoe Postle Associates to prepare a new resource estimate for the original Goose deposit to determine its potential for an open pit. This study is still in progress and should be finalized shortly.
If all studies are positive, the company anticipates moving to a scoping study in the fourth quarter of 2011.
Quality assurance
Doug Cater, PGeo, project manager of the Back River project for Sabina Gold & Silver, is a qualified person under the terms of NI 43-101 and has reviewed the technical content of this press release for the Back River project and has approved its dissemination. Stanley Clemmer, PGeo, project manager of the Wishbone project for Sabina Gold & Silver, is a qualified person under the terms of NI 43-101 and has reviewed the technical content of this press release for the Wishbone project, and has approved its dissemination.
Mineral resources for Goose and George were generated by RSG Global Consulting Pty. Ltd. (Coffey Mining) in September, 2007. Mineral resources for Llama and Umwelt deposits were generated by Roscoe Postle Associates (RPA) in March, 2011. These are all posted on SEDAR.
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 2011 are the same as those used in earlier campaigns by Sabina Gold & Silver, and have been deemed appropriate in the above noted NI 43-101-compliant resource reports.
We seek Safe Harbor.
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