Sabina Gold & Silver’s (TSX: SBB) Back River project is already expected to produce an average of 198,000 oz. of gold a year over an initial mine life of 12 years at all-in sustaining costs of US$620 per oz. gold. However, those numbers were released in a September 2015 feasibility study, and the company has continued to make significant new discoveries on its 54,000-hectare property in Nunavut.
Drilling this summer at the Nuvuyak target returned an intercept of 11.58 grams gold per tonne over 39.50 metres from 797.90 metres downhole, with abundant visible gold. The hole, 18GSE545, was drilled 1 km to the west of Goose Main along strike and 1,000 metres down-plunge of Back River’s largest deposit — Goose Main — and prompted Sabina to double its 2018 exploration program to 20,000 metres.
The latest batch of drill results released in mid-October have only heightened the company’s enthusiasm for Nuvuyak, with intercepts in drill hole 18GSE558 of 7.78 grams gold over 12.40 metres starting from 719.10 metres; 16.39 grams gold over 13.20 metres from 740.50 metres downhole and 13.32 grams gold over 5.10 metres from 783.70 metres downhole. A second hole, 18GSE553, returned 8.58 grams gold over 4.90 metres from 723.40 metres.
Significantly, the drilling also showed …
Continue reading at The Northern Miner.