NUNAVUT – The drilling results are positive at the Lone Cow Pond South (LCPS) on the George property, part of the Back River project belonging to Sabina Gold and Silver Corp. of Vancouver. The company completed 43 holes, and has received assays for 31 of them.
"Particularly encouraging results include 24.96 g/t Au over 11.25 metres in drill hole 13GRL152, and 13.46 g/t Au over 12.75 metres in drill hole 13GRL150," Sabina said in a news release. These grades were intersected between 170 and 179 metres below surface.
The company said most of this year's drilling was done to support the feasibility study due in 2014. Work also continues on the engineering, geotechnical and environmental aspects of the pre-feasibility study. Those results are expected to be announced in mid-October 2013. A preliminary economic assessment was made in May 2012 for an open pit and underground operation with annual production of 300,000 oz of gold. Cash costs were estimated at $542 per oz at that time.
A complete table of drilling information and assays received to date is available in the news release dated Aug. 22, 2013, and posted at SabinaGoldSilver.com.