Mr. Bruce McLeod reports
SABINA GOLD & SILVER EXPANDS THE NUVUYAK DISCOVERY AT THE BACK RIVER GOLD PROJECT WITH MULTIPLE NEW GOLD INTERCEPTS
Sabina Gold & Silver Corp. has released more results from the Nuvuyak discovery from the 2018 summer exploration diamond drilling program at its 100-per-cent-owned Back River gold project in Nunavut, Canada.
Drilling has continued on the new high-grade Nuvuyak discovery returning significant results. Initial drill intercepts have now been returned from follow-up drill holes in the up-plunge direction of the initial discovery hole 18GSE545, which returned 11.58 grams per tonne over 39.5 metres (see press release dated Aug. 20, 2018).
A series of new high-grade gold intercepts in drill hole 18GSE558 are returned at the Nuvayak target that include: 16.39 g/t over 13.20 metres, 7.78 g/t over 12.40 metres and 13.32 g/t over 5.10 metres. Notably, and higher up in the drill hole, significant values of 9.48 g/t Au over 9.10 metres and 7.44 g/t over 6.40 metres were intersected in an area historically called the Hook zone. These results may point to the discovery of a newer higher-grade mineralization zone that occurs at shallower depths than had previously been recognized. An additional 8.58 g/t over 4.90 metres and 4.50 g/t over 4.10 metres intersected in drill hole 18GSE553 are interpreted to represent up-plunge mineralization to Nuvuyak.
These drill holes have demonstrated an immediate extension of the zone approximately 130 to 500 metres from the discovery hole toward the previously identified Hook target, which likely demonstrates a link to the plus-one-million-ounce Goose Main deposit resource. Extensional intercepts within the drill holes have strong pyrrhotite and arsenopyrite mineralization as well as abundant visible gold similar in style to that seen at the Nuvuyak discovery hole, 18GSE545, and at other high-grade Back River gold zones such as the Umwelt vault zone. These observations support the potential for the recognition of a large-scale, property-wide gold structure that continues to remain open for exploration.
Bruce McLeod, president and chief executive officer, stated: "The drilling of multiple new high-grade intercepts at Nuvuyak and a possible new zone at the Hook target area is now rapidly expanding the footprint of another major gold discovery at Back River. Although it is early days yet, we see a lot of similarities in the potential of the emerging Nuvuyak gold structure, when we compare it to the significant size and mineral tenure of the Goose Main deposit. Our team is very excited about this new discovery and it is another strong example of the organic growth we continue to achieve at Back River as we build towards the development of this world-class district-scale gold project."
Technical information
Additional holes have continued to test the discovery with a focus on developing mineralization controls while yielding meaningful expansion up- and downplunge. Due to the exploration success and strong mineralization intersected in drill hole 18GSE558, this hole was used as a parent hole for two wedge off-cuts (results pending). A second hole, 18GSE559 (results pending), located 130 metres downplunge from discovery hole 18GSE545, was also used as a parent hole for a third wedge off-cut. The parent hole 18GSE559 and all wedge holes successfully targeted mineralized iron formation with assay results pending.
Drilling for the 2018 summer season has now been successfully completed. Assay results will be released in a timely manner upon quality assurance/quality control review, compilation and interpretation. An additional seven holes for the Nuvuyak zone have assays pending.
HIGHLIGHTED RESULTS FROM NUVUYAK UP-PLUNGE DRILL HOLES
Hole ID Area Depth (m) From (m) To (m) Length (m) Au (g/t) Lithology
18GSE553 NUV 845.00 723.40 728.30 4.90 8.58 Iron formation
806.45 810.55 4.10 4.50 Iron formation
18GSE558 NUV 845.00 400.00 406.40 6.40 7.44 Iron formation
423.60 432.70 9.10 9.48 Iron formation
719.10 731.50 12.40 7.78 Iron formation
740.50 753.70 13.20 16.39 Iron formation
783.70 788.80 5.10 13.32 Iron formation
* Intersection widths are drilled thicknesses and true widths are unknown.
Nuvuyak discovery
The Nuvuyak gold zone discovery intercept is located approximately 850 metres along strike to the west of the Goose Main deposit (proven open-pit reserve of 3,266,000 tonnes grading 5.01 g/t totalling 526,000 ounces and an additional probable open-pit reserve of 1,185,000 tonnes grading 4.98 g/t totalling 190,000 ounces) and approximately 1,000 metres downplunge. The mineralization is hosted within a polyphase folded sequence of the Back River lower iron formation stratigraphy and coincident gold structures that are interpreted as being a significant component of the major mineralizing horizon(s) at the Goose property. Mineralization consists of arsenopyrite, pyrrhotite and abundant visible gold over broad intercepts that are associated with quartz veining and moderate-to-strong amphibole and chlorite alteration.
Early interpretations of the Nuvuyak zone and its similarities to the high-grade Umwelt vault zone recognize the potential for a large-scale mineral trend extending from Goose Main to Umwelt vault that may transect large portions of the central Goose property, much of which is largely underexplored.
SIGNIFICANT RESULTS FROM DRILL HOLES 18GSE553 AND 18GSE558
Hole ID Area Depth (m) From (m) To (m) Length (m) Au (g/t) Lithology
18GSE553 NUV 845.00 539.90 546.80 6.90 1.26 Iron formation
554.00 556.00 2.00 1.52 Iron formation
663.00 663.70 0.70 1.16 Iron formation
723.40 728.30 4.90 8.58 Iron formation
incl. 723.40 724.05 0.65 27.55 Iron formation
and 727.15 727.65 0.50 32.98 Iron formation
731.00 733.00 2.00 5.55 Iron formation
744.00 745.00 1.00 2.80 Iron formation
749.00 750.00 1.00 1.12 Iron formation
806.45 810.55 4.10 4.50 Iron formation
820.00 821.00 1.00 1.02 Iron formation
18GSE558 NUV 845.00 Results pending
356.00 357.50 1.50 4.22 Iron formation
359.00 359.85 0.85 1.38 Iron formation
366.30 368.85 2.55 1.09 Iron formation
374.00 374.80 0.80 2.20 Iron formation
378.95 382.00 3.05 3.90 Iron formation
385.45 386.15 0.70 5.69 Iron formation
390.00 394.00 4.00 1.05 Iron formation
400.00 406.40 6.40 7.44 Iron formation
incl. 402.75 403.50 0.75 41.37 Iron formation
413.00 413.70 0.70 1.80 Iron formation
423.60 432.70 9.10 9.48 Iron formation
incl. 424.20 424.75 0.55 84.80 Iron formation
439.50 445.00 5.50 2.76 Iron formation
incl. 442.25 443.20 0.95 7.28 Iron formation
Results pending
716.20 717.00 0.80 14.20 Iron formation
719.10 731.50 12.40 7.78 Iron formation
incl. 719.10 724.70 5.60 15.01 Iron formation
740.50 753.70 13.20 16.39 Iron formation
incl. 740.50 747.05 6.55 30.56 Iron formation
780.30 781.70 1.40 1.05 Greywacke
783.70 788.80 5.10 13.32 Iron formation
Results pending
* Intersection widths are drilled thicknesses and true widths are unknown.
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 meet assay requirements outlined for National Instrument 43-101.
About
Sabina Gold & Silver Corp.
Sabina Gold & Silver is well financed with approximately $62.4-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.
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