NUNAVUT – Sabina Gold and Silver of Vancouver has an updated resource estimate for its Back River gold project that puts over 2.65 million oz of the yellow metal in the indicated category. Four deposits (George, Goose, Umwelt and Llama) contain a total of 9.88 million tonnes of indicated material that grades 8.33 g/t Au. The inferred resource totals 5.60 million tonnes at 8.65 g/t Au or 1.56 million more gold ounces.
The Back River deposits are a banded iron formation situated 60 km from Hacket River and adjacent to the Wishbone Greenstone Belt. Sabina acquired the project in June 2009 at which time the presence of the George and Goose deposits was known. Shortly thereafter the company discovered the Umwelt and Llama deposits.
The company’s directors have approved a $29-million, 68,000-metre program at Back River for 2011.
An updated 43-101 technical report is to be filed by March 30, 2011. Check at www.SabinaGoldSilver.com and read it when it is available.