Sabina Gold & Silver Corp. (TSX:SBB) ("Sabina" or the
"Company") is pleased to announce positive drilling results at the
Lone Cow Pond South ("LCPS") deposit on the George property on its
100% owned Back River project in Nunavut.
"Again, we are very pleased with the drill results we've
received to date from LCPS," said Rob Pease President & CEO.
"The George property lies about 50 km to the north of Goose and is
proposed to become a satellite mining centre with its ore trucked
to the main milling infrastructure at Goose. We are encouraged that
we continue to find opportunities to potentially add to the
resources there, particularly possible open-pitable material," he
said "While we continue to receive assays, all planned drilling at
George is complete for the year. Work continues at Goose and our
other regional targets and is expected to go on through
September."
Lone Cow Pond South Extension Drilling Program
The LCPS zone comprises a small component of the Company's
current underground resource estimate and sits approximately 3000
meters northeast of the main George Property deposits.
Mineralization is comprised of a heavily sulphidized sequence of
iron formation and clastic sediment lithologies located proximal to
the eastern contact of a felsic intrusive unit. The current deposit
begins at approximately 90 meters below surface however resource
modeling of the LCPS deposit earlier this year demonstrated an
opportunity to potentially add open pitable resources to the known
mineralization.
The drilling program in the shallow portion of the LCPS deposit
is now complete. A total of 43 holes were drilled, and to date
complete assay results have been received for 31 of these holes.
Particularly encouraging results include 24.96 g/t Au over 11.25m
in drill hole 13GRL152, and 13.46 g/t Au over 12.75m in drill hole
13GRL150. The complete set of assay results received to date is
presented in the table attached.
The LCPS drilling has clearly demonstrated the presence of
persistent shallow, high grade mineralization over a strike length
of approximately 200m. Once all assays have been received, the
deposit will be remodeled for inclusion in an updated resource
estimate expected to be completed in early 2014.
Detailed drilling results for LCPS attached to the end of this
news release.
Ongoing Project Exploration
Resource conversion drilling is currently underway on an
underground portion of the Llama deposit, with a goal of defining
an indicated resource, below the currently proposed pit shell, for
a down plunge extent of approximately 500m.
Exploration drilling at Goose is currently focused on a number
of previously untested, conceptual targets partially defined by
interpreted magnetic and electromagnetic geophysical anomalies.
This drilling will continue for the remainder of the field
season.
Outside of the Goose Property exploration drilling continues to
test a number of targets at the Boot and Boulder properties. Both
these properties host considerable extents of favourable iron
formation and drilling is focused on evaluating the potential for
large open pit discoveries.
Pre-Feasibility Update
While most of the drilling done in 2013 is to support the 2014
feasibility study, significant work has continued on the
engineering, geotechncial and environmental aspects of the
pre-feasibility study expected to be announced in mid-October,
2013.
Once all drilling results have been received and analyzed from
the 2013 work program, an updated resource estimate will be
undertaken for completion early in 2014.
Qualified Persons
The Qualified Person as defined by NI 43-101 as pertains to the
Back River Project, is James Maxwell, P.Geo, Senior Project
Geologist,, for the Company.
True widths for the intercepts reported in this news release
have not yet been determined.
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 2013 are
the same as those used in earlier campaigns by Sabina Gold &
Silver Corp. and have been deemed appropriate in the Company's
43-101 compliant resource reports.
SABINA GOLD & SILVER CORP.
Sabina Gold & Silver Corp. is an emerging gold developer
with district scale, world class assets in one of the world's
newest, most politically stable mining jurisdictions: Nunavut,
Canada.
Sabina's primary assets, all located in Nunavut, consist of: the
Back River Gold Project, currently in the pre-feasibility and
permitting phase; the Wishbone Claims, a vastly prospective grass
roots project; and the Hackett River Silver Royalty, a silver
production royalty on Xstrata Zinc's Hackett River project
comprising 22.5% of the first 190 million ounces produced and 12.5%
of all the silver produced thereafter. The Company is well funded
and expects to end the year with approximately $60 million in
cash.
All news releases and further information can be found on the
Company's website at www.sabinagoldsilver.com or on SEDAR at
www.sedar.com.
Forward Looking Statements
Statements relating to future operations at the Back River
Project and the Hackett River Project and the expected results of
this work are forward-looking statements within the meaning of
securities legislation of certain Provinces in Canada. Forward
looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Information inferred from the interpretation of drilling results
may also be deemed to be forward looking statements, as it
constitutes a prediction of what might be found to be present when
and if a project is actually developed. These forward-looking
statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking statements, including,
without limitation: risks related to fluctuations in metal prices;
uncertainties related to raising sufficient financing to fund the
planned work in a timely manner and on acceptable terms; changes in
planned work resulting from weather, logistical, technical or other
factors; the possibility that results of work will not fulfill
expectations and realize the perceived potential of the Company's
properties; risk of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the
possibility of cost overruns or unanticipated expenses in the work
program; the risk of environmental contamination or damage
resulting from Sabina's operations and other risks and
uncertainties, including those described in Sabina's Annual Report
for the year ended December 31, 2012.
Forward-looking statements are based on the beliefs, estimates
and opinions of Sabina's management on the date the statements are
made. Sabina undertakes no obligation to update these
forward-looking statements should management's beliefs, estimates
or opinions, or other factors, should change.
This news release has been authorized by the undersigned on
behalf of Sabina Gold & Silver Corp.
Rob Pease, President & CEO
930 West 1st Street, Suite 202
North Vancouver, BC V7P 3N4
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com
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Length Au
Hole Id Area Section Depth (m) (g/t)
--------------------------------------------------------------------------
13GRL112 LCPS CS5990N 116 7.05 5.94
--------------------------------------------------------------------------
0.5 2.43
--------------------------------------------------------------------------
1 5.09
13GRL114 LCPS CS6020N 220 8.30 15.66
--------------------------------------------------------------------------
including 1.15 81.33
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2.50 11.54
--------------------------------------------------------------------------
including 1 26.35
--------------------------------------------------------------------------
8.65 14.58
--------------------------------------------------------------------------
including 6.65 17.98
--------------------------------------------------------------------------
13GRL124 LCPS 5960 281.00 6.60 6.27
--------------------------------------------------------------------------
6.65 18.43
--------------------------------------------------------------------------
14.95 9.01
--------------------------------------------------------------------------
13GRL132 LCPS 5930 135.00 4.35 5.17
--------------------------------------------------------------------------
1.00 2.02
--------------------------------------------------------------------------
13GRL134 LCPS 5930 113.00 7.05 7.09
--------------------------------------------------------------------------
13GRL136 LCPS 5930 185.00 9.00 9.92
--------------------------------------------------------------------------
inc 4.00 18.11
--------------------------------------------------------------------------
5.05 12.76
--------------------------------------------------------------------------
5.00 6.00
--------------------------------------------------------------------------
3.70 5.13
--------------------------------------------------------------------------
13GRL138 LCPS 5960 170.00 3.00 1.36
--------------------------------------------------------------------------
13GRL141 LCPS 5960 368.37 1.85 3.88
--------------------------------------------------------------------------
1.00 2.16
--------------------------------------------------------------------------
1.00 1.97
--------------------------------------------------------------------------
9.10 4.34
--------------------------------------------------------------------------
0.95 1.05
--------------------------------------------------------------------------
1.00 1.87
--------------------------------------------------------------------------
13GRL143 LCPS 6020 368.75 8.25 7.17
--------------------------------------------------------------------------
--------------------------------------------------------------------------
13GRL144 LCPS 5960 368.34 2.90 3.05
--------------------------------------------------------------------------
6.75 10.72
--------------------------------------------------------------------------
23.70 6.97
--------------------------------------------------------------------------
13GRL146 LCPS 6020 368.77 12.55 9.96
--------------------------------------------------------------------------
including 7.05 16.04
--------------------------------------------------------------------------
1.10 1.70
--------------------------------------------------------------------------
1.15 5.83
--------------------------------------------------------------------------
1.00 1.13
--------------------------------------------------------------------------
7.70 3.90
--------------------------------------------------------------------------
2.10 1.10
--------------------------------------------------------------------------
1.50 1.10
--------------------------------------------------------------------------
13GRL147 LCPS 5990 131.00 5.80 8.74
--------------------------------------------------------------------------
including 2.70 14.97
--------------------------------------------------------------------------
4.65 8.30
--------------------------------------------------------------------------
including 1.90 18.44
--------------------------------------------------------------------------
8.85 4.07
--------------------------------------------------------------------------
13GRL148 LCPS 6020 161.00 2.50 6.59
--------------------------------------------------------------------------
2.25 7.13
--------------------------------------------------------------------------
2.50 3.59
--------------------------------------------------------------------------
1.25 1.46
--------------------------------------------------------------------------
8.00 11.24
--------------------------------------------------------------------------
13GRL149 LCPS 6050 125.00 7.10 5.74
--------------------------------------------------------------------------
8.50 6.70
--------------------------------------------------------------------------
13GRL150 LCPS 5990 179.00 12.75 13.46
--------------------------------------------------------------------------
including 1.00 54.80
--------------------------------------------------------------------------
2.00 2.06
--------------------------------------------------------------------------
5.00 6.47
--------------------------------------------------------------------------
including 1.00 27.07
--------------------------------------------------------------------------
13GRL152 LCPS 6050 170.00 0.60 1.89
--------------------------------------------------------------------------
7.25 4.05
--------------------------------------------------------------------------
11.25 24.96
--------------------------------------------------------------------------
including 6.20 39.27
--------------------------------------------------------------------------
3.00 3.22
--------------------------------------------------------------------------
13GRL153 LCPS 5900 131.00 3.45 3.67
--------------------------------------------------------------------------
13GRL155 LCPS 6080 104.00 0.80 1.06
--------------------------------------------------------------------------
13.00 5.20
--------------------------------------------------------------------------
including 2.50 11.52
--------------------------------------------------------------------------
and 2.85 10.14
--------------------------------------------------------------------------
13GRL157 LCPS 6080 119.00 0.60 4.05
--------------------------------------------------------------------------
1.05 3.02
--------------------------------------------------------------------------
2.40 1.20
--------------------------------------------------------------------------
13GRL159 LCPS 5900 170.00 1.00 7.58
--------------------------------------------------------------------------
9.15 4.04
--------------------------------------------------------------------------
including 3.00 8.67
--------------------------------------------------------------------------
1.20 1.80
--------------------------------------------------------------------------
13GRL160 LCPS 5810 119.00 1.50 2.95
--------------------------------------------------------------------------
13GRL162 LCPS 5810 131.00 6.25 3.11
--------------------------------------------------------------------------
13GRL164 LCPS 5810 170.00 6.10 7.06
--------------------------------------------------------------------------
2.50 10.30
--------------------------------------------------------------------------
13GRL165 LCPS 5870 131.00 1.00 3.02
--------------------------------------------------------------------------
8.30 7.94
--------------------------------------------------------------------------
13GRL166 LCPS 5870 152.00 2.40 7.97
--------------------------------------------------------------------------
including 1.40 12.44
--------------------------------------------------------------------------
1.00 5.01
--------------------------------------------------------------------------
14.80 6.03
--------------------------------------------------------------------------
13GRL167 LCPS 5840 221.00 1.00 3.52
--------------------------------------------------------------------------
6.00 2.76
--------------------------------------------------------------------------
13GRL170 LCPS 6110 122.00 0.80 4.01
--------------------------------------------------------------------------
13GRL174 LCPS 6110 98.00 10.15 9.31
--------------------------------------------------------------------------
0.95 1.94
--------------------------------------------------------------------------
To view the images accompanying this press release, please visit
the following link:
http://file.marketwire.com/release/0821SBB.pdf
Contacts: Sabina Gold & Silver Corp. Nicole Hoeller
Vice-President, Communications 1 888
648-4218nhoeller@sabinagoldsilver.com www.sabinagoldsilver.com
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