09:12:53 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Sabina Gold & Silver Corp
Symbol SBB
Shares Issued 262,772,895
Close 2018-09-17 C$ 1.275
Market Cap C$ 335,035,441
Recent Sedar Documents

Sabina Gold drills 4.6 m of 17.96 g/t Au at Back River

2018-09-18 08:18 ET - News Release

Mr. Bruce McLeod reports

SABINA GOLD & SILVER GROWS THE LLAMA EXTENSION TO OVER 400 METERS ALONG STRIKE

Sabina Gold & Silver Corp. has released results from six drill holes completed at the Llama extension zone where drilling has principally focused on expanding the up-plunge extent of the mineral zone toward the known Llama underground resource at the company's 100-per-cent-owned Back River project.

Five of the six drill holes completed during the current summer drilling campaign have successfully targeted the Llama gold structure over a strike extent of approximately 200 m up plunge from the previous 2017 and 2018 drilling that returned a number of high-grade intercepts over significant lengths (see previous news releases: Sept. 5, 2017, April 2, 2018, and May 8, 2018). Selected significant values from these six drill holes are listed in the associated table and include 17.96 grams per tonne gold over 4.60 metres from drill hole 18GSE548B and 6.20 g/t Au over 13.80 m from drill hole 18GSE547. A single drill hole, 18GSE546, drilled 26 m along strike in the open down-plunge direction from current drilling, returned values of 11.43 g/t Au over 5.48 m and continues to demonstrate that the gold structure is open at depth. For a complete list of significant intercepts from these six drill holes see the associated table.

"Drilling continues to show that the Llama extension zone has strong potential to add significant value as a growth option to the Back River development plan," stated Bruce McLeod, president and chief executive officer. "The Llama extension zone has now been extended to over 400 m of strike length, located along the Llama gold structure approximately 150 m below the current Llama underground resource. From the drilling it appears the Llama open pit, underground and extension zone are contiguous. It is notable that the Llama open pit is included in the current development plan while the underground resource is not and any new drilling success in this zone represents future opportunity for growth and expansion at Llama. The Llama extension zone combined with the Llama underground resource, the Echo resource and additional potential new zones of mineralization such as the Nuvuyak target, offer a strong endorsement for the continued expansion of the mineral footprint within the Goose project gold complex."

                   SELECTED SIGNIFICANT DRILL 
         INTERCEPTS FROM LLAMA EXTENSION ZONE DRILLING

Hole ID         Depth       From         To     Length         Au
                  (m)        (m)        (m)        (m)      (g/t)

18GSE544       673.70     600.95     602.20       1.25      17.13
                          605.60     606.60       1.00      24.23
18GSE546       809.00     737.77     743.25       5.48      11.43
incl.                     742.25     743.25       1.00      51.26
18GSE547       662.00     561.80     562.85       1.05      16.94
                          565.05     565.75       0.70      19.76
                          601.50     615.30      13.80       6.20
incl.                     602.55     603.55       1.00      54.56
18GSE548B      668.00     497.35     499.20       1.85      16.58
incl.                     498.40     499.20       0.80      35.76
                          512.60     517.20       4.60      17.96
18GSE549       641.00     557.90     561.95       4.05       5.62
incl.                     561.25     561.95       0.70      13.57
18GSE555       659.00                             results pending
                          617.95     620.00       2.05      15.34
incl.                     617.95     619.25       1.30      23.14
                                                  results pending

* Intersection widths are drilled thicknesses and true widths are 
unknown at this time.

Llama extension zone

The Llama extension zone is associated with the same host rock iron formation stratigraphy and gold structure that is host to the Llama open pit and the Llama underground resource. Llama underground mineral resource estimate comprises 110,000 tonnes at 5.72 g/t gold for 20,000 ounces of gold in the measured category, 752,000 tonnes at 8.72 g/t gold for 211,000 ounces of gold in the indicated category, and 295,000 tonnes at 6.77 g/t gold for 64,000 ounces of gold in the inferred category. Llama extension mineralization, which has now been tested to within 150 m of the limits of the defined underground resource, has now been tested by a total of 14 drill holes over a strike length of 400 m. Drilling has partially defined a relatively tightly folded syncline structure, with a plunge of approximately 22 degrees to the southeast, intruded by a series of axial plane parallel quartz-feldspar dikes. The mineralization is described as disseminated to banded pyrrhotite and arsenopyrite with locally occurring visible gold, all coincident with quartz-veined and sulphidized iron formation. A number of higher-grade intersections have been drilled within the zone during 2017 and early 2018 and include 15.67 g/t Au over 23.25 m in drill hole 18GSE530, 9.48 g/t Au over 38.55 m in drill hole 17GSE516B and 28.95 g/t Au over 5.65 m in drill hole 18GSE535.

Summer drilling progress

Drilling with three rigs continues, prioritizing the Nuvuyak target in an effort to expand the new discovery both up and down plunge. Two drill rigs are currently active on the Nuvuyak discovery while a third rig has been advancing additional regional target areas including a 1.5 km long untested stretch of prospective iron formation at the Boulder property.

Field exploration mapping, till geochemistry and geochronology programs have now been completed for 2018 in order to advance both the Goose property and regional targeting initiatives. Sabina controls a series of highly prospective exploration properties over an area of approximately 80 km at the Back River project that are believed to have district-scale synergies for future development.

              COMPLETE LIST OF SIGNIFICANT 
   DRILL INTERCEPTS FROM LLAMA EXTENSION ZONE DRILLING 

Hole ID      Depth       From       To    Length         Au
               (m)        (m)      (m)       (m)      (g/t)

18GSE544    673.70     600.95   602.20      1.25      17.13
                       605.60   606.60      1.00      24.23
                       629.35   633.40      4.05       1.72
                       639.00   640.05      1.05       1.94
18GSE546    809.00     383.58   384.40      0.82       1.22
                       683.00   684.00      1.00       1.07
                       737.77   743.25      5.48      11.43
incl.                  742.25   743.25      1.00      51.26
                       747.50   748.50      1.00       6.84
18GSE547    662.00     505.55   506.00      0.45       4.93
                       533.30   534.70      1.40       1.40
                       558.65   560.00      1.35       2.52
                       561.80   562.85      1.05      16.94
                       565.05   565.75      0.70      19.76
                       601.50   615.30     13.80       6.20
incl.                  602.55   603.55      1.00      54.56
                       629.45   633.95      4.50       2.97
18GSE548     26.00                         abandoned -- NSV
18GSE548B   668.00     493.15   494.25      1.10       8.32
                       497.35   499.20      1.85      16.58
incl.                  498.40   499.20      0.80      35.76
                       504.90   506.90      2.00       2.93
                       512.60   517.20      4.60      17.96
                       567.65   571.65      4.00       3.90
                       574.30   575.30      1.00       1.83
                       576.30   578.20      1.90       3.66
                       581.00   589.00      8.00       2.02
                       595.00   599.00      4.00       2.11
18GSE549    641.00     501.90   502.90      1.00       4.10
                       557.90   561.95      4.05       5.62
incl.                  561.25   561.95      0.70      13.57
                       578.90   586.40      7.50       2.76
                       590.40   591.40      1.00       1.24
18GSE555    659.00                          results pending
                       611.20   612.20      1.00       1.27
                       617.95   620.00      2.05      15.34
incl.                  617.95   619.25      1.30      23.14
                                            results pending

* Intersection widths are drilled thicknesses and 
true widths are unknown at this time.                                  
                                                                                                                       

Qualified persons

The qualified person as defined by National Instrument 43-101 as pertains to the Back River project, is James Maxwell, PGeo, exploration manager, for the company.

All drill core samples selected within the exploration program are subject to a company standard of internal quality control and quality assurance programs which include the insertion of certified reference materials, blank materials and duplicates analysis. All samples are sent to SGS Canada Inc. located in Burnaby, B.C., where they are processed for gold analysis by 50-gram fire assay with finish by a combination of atomic absorption and gravimetric methods. Additionally, analysis by screen metallic processes is performed on select samples. SGS quality systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for National Instrument 43-101.

Sabina Gold & Silver Corp.

Sabina Gold & Silver is well financed with approximately $62.4-million in cash and equivalents and is an emerging precious metal company with district-scale, advanced, high-grade gold assets in one of the world's newest, politically stable mining jurisdictions -- Nunavut, Canada.

In addition to its Back River project, Sabina also owns a significant silver royalty on Glencore's Hackett River project. The silver royalty on Hackett River's silver production comprises 22.5 per cent of the first 190 million ounces produced and 12.5 per cent of all silver produced thereafter.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.