Sabina Gold drills 31.9 m of 8.65 g/t Au at Back River
2017-10-19 08:07 ET - News Release
Mr. Bruce McLeod reports
SABINA GOLD & SILVER INCREASES CONTINUITY AND EXPANDS DOWN PLUNGE POTENTIAL AT THE VAULT GOLD ZONE
Sabina Gold & Silver Corp. has released additional results from the summer exploration diamond drilling program at its 100-per-cent-owned Back River gold project in Nunavut, Canada. A summer exploration drill program of 9,868 metres in 17 drill holes has now been completed. Drilling successfully tested high-impact exploration targets in and around existing resources at the Goose property, including five holes in the high-grade Umwelt vault zone. Two of these drill holes, 17GSE522B and 17GSE517, tested the central area of the vault zone, and one drill hole, 17GSE520, tested an eastern fold hinge of the zone and are reported in this release.
"These drill results have advanced this high-grade target area by increasing the down-plunge expression of the vault zone and improving confidence in the continuity of the zone," said Bruce McLeod, president and chief executive officer. "Through our drilling at Back River, we continue to enhance a large-scale gold system. Our core strategy of targeting high-impact exploration targets to potentially optimize mine life and economics continues to yield success."
Drilling of 17GSE522B which returned 8.65 grams per tonne gold over 31.90 m including 91.97 g/t Au over 1.15 m and 13.12 g/t Au over 8.90 m has successfully expanded the down-plunge length of the high-grade targeted zone to greater than 45 metres south of the 2012 drill hole 12GSE217.
Drill hole 17GSE517 confirmed mineralization continuity central to the vault zone, positioned approximately 75 m up plunge from 17GSE522B, intersected favourable mineralization returning an intercept of 5.99 g/t Au over 33.25 m including 26.91 g/t Au over 2.20 m and 18.14 g/t Au over 5.40 m.
TABLE OF SIGNIFICANT DRILL INTERSECTIONS Hole From To Length AuID (m) (m) (m) (g/t)17GSE517* 731.65 764.90 33.25 5.99including 737.55 739.75 2.20 26.91and 749.90 755.30 5.40 18.1417GSE522B* 795.10 827.00 31.90 8.65including 795.10 796.25 1.15 91.97and 806.75 815.65 8.90 13.12* True widths of the intervals are estimated at 80 to 90 per cent of the core length.Both intercepts are defined by strong alteration and mineralization systems within a favourable Back River geological setting that is conventional to resources hosted elsewhere on the project. Alteration consists of strong silicification and amphibole and chlorite development within oxide iron formation. Mineralization consists of arsenopyrite, pyrrhotite and localized visible gold within the highly altered and veined zones.
The remaining two vault drill holes completed this summer will be reported as assays are received.
Umwelt deposit -- vault zone
The Umwelt deposit hosts 9.05 million tonnes of 6.90 g/t Au for 2,034,000 ounces of measured and indicated resources, as well as 1,909,000 tonnes of 11.01 g/t Au for 676,000 ounces of inferred resources. Portions of these resources are included in the current feasibility study for both open-pit and underground development. The objective of vault drilling program was to target a particularly robust portion of the underground Umwelt deposit where exceptional grades and thicknesses of mineralized iron formation remain largely unconstrained. Existing holes within the vault zone to date are recognized as some of the highest-grade thickness drill intercepts ever drilled at Back River (news release dated May 23, 2017).
Additional 2017 drilling
Additional assays are also received from drill holes now completed at the Kogoyok and Echo targets which occur along the southern trend of iron formation located approximately three kilometres southeast of the Umwelt deposit. Results within this greater-than-two-kilometre developing gold setting enhance exploration vectoring and understanding of the property-wide geologic framework. These target areas remain largely underexplored with drilling focused on defining favourable settings consisting of altered iron formation, felsic intrusive units and structural elements associated with Back River-style mineralization. Sabina continues to pursue new discoveries within derisked and large-scale geologic trends in which the company has a district expertise and diverse and integrated data set.
TABLE OF DRILL RESULTS Hole From To Length AuID (m) (m) (m) (g/t)17GSE517* 645.90 646.80 0.90 1.02 assays pending for less than one m technical samples 731.65 764.90 33.25 5.99including 737.55 739.75 2.20 26.91and 749.90 755.30 5.40 18.14 assays pending for less than one m technical samples17GSE518** 485.00 486.45 1.45 4.4117GSE519** 224.90 225.70 0.80 1.56 228.15 229.30 1.15 1.45 242.00 242.75 0.75 1.6217GSE520** 651.95 653.00 1.05 2.09 672.35 673.70 1.35 2.4817GSE522 abandoned -- NSV17GSE522B* assays pending 795.10 827.00 31.90 8.65including 795.10 796.25 1.15 91.97and 806.75 815.65 8.90 13.12* True widths of the intervals are estimated at 80 to 90 per cent of the core length.** True widths of the intervals are unknown at this time.Further assay results from the drilling program will continue to be released as they become available.
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.
About Sabina Gold & Silver Corp.
Sabina Gold & Silver is a well-financed, 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.
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