DAILY NEWS Feb 21, 2013 4:10 PM - 0 comments

GOLD: Sabina boosts Back River ounces by 13%

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NUNAVUT – Sabina Gold & Silver Corp. of Vancouver has remodelled the deposits at the Back River gold project 520 km northeast of Yellowknife, NT, increasing its confidence, boosting the grade and outlining 13% more contained gold ounces. Remodelling from first principles was conducted on all deposits and, in combination with 2012 drilling, has increased the estimate at Back River by approximately 740,000 oz of gold (or 13%) in all categories.

The mineral resource numbers were updated by AMC Mining Consultants (Canada) as part of the ongoing Back River pre-feasibility study. The new estimate includes a measured resource of 2.17 million tonnes grading 4.4 g/t Au for a contained 304,000 oz of gold, an indicated resource of 22.03 million tonnes grading 6.1 g/t for a contained 4,352,000 oz of gold, and an inferred resource of 7.67 million tonnes grading 7.8 g/t for a contained 1.92 million oz of gold.

Sabina raised its cut-off grades for the Llama pit and the planned underground mine. The cut-off at the Llama deposit was raised from 0.76 g/t to 1.0 g/t, consistent with the cut-off at the Umwelt and Goose Main pits. The underground cut-off was raised to 4.0 g/t Au, rather than 2.0 g/t, to better reflect underground mining costs at these deposits and this location, said the company.

Next up are continued drilling as well as engineering work, environmental baseline data collection, and capital cost estimation. Visit SabinaGoldSilver.com.

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Sabina Gold & Silver Corp

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