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Enter Symbol
or Name
USA
CA



Sabina Gold & Silver Corp
Symbol SBB
Shares Issued 251,828,181
Close 2018-03-14 C$ 1.76
Market Cap C$ 443,217,599
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Sabina Gold appoints Galassi as VP for Back River

2018-03-15 11:27 ET - News Release

Mr. Bruce McLeod reports

SABINA GOLD & SILVER ADDS KEY MEMBER TO PROJECT DEVELOPMENT TEAM

Sabina Gold & Silver Corp. has appointed Peter Galassi as vice-president, project development and construction, for Sabina's 100-per-cent-owned Back River project in Nunavut, Canada.

"We are pleased to welcome Lello Galassi to the team," said Bruce McLeod, president and chief executive officer. "Construction and logistics in remote locations around the world is Lello's specialty and exactly what we need to ensure smooth development and construction of the Back River project. We all welcome Lello to the company and look forward to the next three years as we move towards becoming a gold producer."

Peter (Lello) Galassi

Mr. Galassi is a retired United States Air Force officer and engineer with extensive experience in systems development, acquisition, and project management and construction in leading greenfield mining projects in remote areas of the world. His breadth of knowledge and capacity ranges from multimillion-dollar to multibillion-dollar projects.

Between 2004 and 2008, Mr. Galassi was the project manager of the Tenke Fungurume project, a Phelps Dodge greenfield copper-and-cobalt mine development in the Democratic Republic of the Congo. This $2-billion (U.S.) project was developed from concept studies to first copper cathode production in January, 2009.

In 2009, Mr. Galassi worked for Rio Tinto iron ore expansion projects, a Rio Tinto group focused on developing new greenfield mines and plants in northwest Australia. He led the project studies teams and engineering contractors in developing a new mine, new bulk-material port-loading facility and new heavy-haul rail systems for the Turee Syncline project and for expansions at the Dampier port facilities.

In late 2010, Mr. Galassi was asked by Rio Tinto to lead the very large African Guinea Simandou iron ore project as a project director -- general manager. This $18-billion (U.S.) greenfield project included a new mine, new processing plant, over 750 kilometres of new heavy-haul rail and machinery, a new deepwater port facility, and all supporting systems including camps, warehouses, power generation, airfields and construction-support port facilities.

In 2013, Mr. Galassi took a position as chief operating officer and project director of the Aurora gold mine project for Guyana Goldfields. This greenfield project had a capital value of approximately $300-million (U.S.) and was a joint effort of Guyana Goldfields, financial institutions and the International Finance Corp. The project commenced in the second quarter of 2013 with successful completion and first-gold pour in September, 2015.

Following the Aurora project, from 2015 to 2018, he assumed a position as project director for the Phoenix projects, a combination of brownfield and greenfield mining projects in Barcelona, Spain. The projects included a new five-kilometre-long underground access ramp to the mine, new processing plants for potash and salt derivatives, new rail systems, and a new greenfield bulk-material handling/storage port facility in Barcelona's port. These projects had a combined value of $500-million (U.S.).

About Sabina Gold & Silver Corp.

Sabina Gold & Silver is well financed, with approximately $94.5-million in cash and equivalents, and is an emerging precious-metals company with district scale, advanced, high-grade gold assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina released a feasibility study on its 100-per-cent-owned Back River gold project, a project that has been designed on a fit-for purpose basis, with the potential to produce approximately 200,000 ounces a year for about 11 years with a rapid payback of 2.9 years ("Technical report for the initial project feasibility study on the Back River gold property, Nunavut, Canada," dated Oct. 28, 2015). At a $1,150 (U.S.) gold price and a 0.80 (U.S. dollar to Canadian dollar) exchange rate, the study delivers a potential aftertax internal rate of return of approximately 24.2 per cent with an initial capital expenditure of $415-million.

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