Sabina Gold and Silver Discovers Gold Mineralization at Back River

Sabina Gold and Silver (TSX:SBB) reported results from two exploration drill holes at its Back River Gold project in Nunavut. Significant gold values included 0.82 grams per tonne of gold over 13.74 meters including 2.71 grams per tonne over 1 meter, 1.89 grams per tonne over 1 meter and 1.87 grams per tonne over 0.75 meters.

As quoted in the press release:

During the recently finalized geotechnical drilling program, Sabina completed two shallow exploration drill holes at targets Hivogani and Nalaot. Results generated continue to demonstrate project-wide gold endowment and the potential for greenfield resource growth both within the project’s conventional iron formation host and the broader sediment package that, to date, has seen little work.

The majority of the existing resources at Back River are hosted in conventional iron formation stratigraphy. It is noted, however, that other Canadian projects associated with banded iron formations often show significant resources within structurally controlled gold zones outside of or peripheral to the conventional iron formation hosted zones. Results at the Hivogani target confirm this potential exists at the Back River Gold Project.

The Hivogani target is located approximately 1400 m southwest of the Goose Main deposit (Figure 1) and lies outside of the main iron formation which is the host rock to the majority of Back River’s current resources. One drill hole, totaling 140m, tested part of an anomalous Induced Polarization study (“IP”) response, which measures approximately 500 by 200m.

Sabina CEO, Bruce McLeod, said:

Sabina is highly encouraged by the new drill intercepts and by the position and nature of the gold occurrence at the Havogani target. Both of the newly-tested gold zones are considered open along strike and at depth, with considerable opportunities for future exploration. These targets are also within the 7km long Goose corridor that hosts the majority of the Back River resources and is the area contemplated for initial mine development. The company continues to pursue shallow gold resource opportunities that are amenable to open pit mining methods, while assessing the project-wide gold endowment that we believe will contribute to successful resource and mine life growth. Within the 80 km long district that Sabina controls at Back River, we have identified over 50 quality exploration targets that are worthy of follow-up which we are evaluating and prioritizing for future campaigns.

Click here to read the Sabina Gold and Silver (TSX:SBB) press release