Sabina Gold & Silver (TSX: SBB; OTC: SGSVF) has reported initial results from the recently completed drilling program at Umwelt, one of six main deposits comprising its 100% owned Back River project in Nunavut.
This eight-hole drill program targeted select areas near the interface of the planned open pit and upper portions of the underground at Umwelt. Results of this drilling will be used to better understand portions of the higher-grade gold continuity, and to assist with design adjustments and potential optimizations of the pit wall and crown pillar design.
Results for two of the holes have been received, both of which targeted the intrusion of a quartz feldspar porphyry corridor and intersected over 30 metres of mineralized iron formation, including intervals of particularly robust mineralization.
Drill hole 22GSE605 returned 13.68 g/t gold over 31.9 metres, including 30.98 g/t gold over 9.9 metres, demonstrate the potential for additional mineralization outside of the current mine plan.
The second hole, 22GSE606, located approximately 100 metres down plunge of 22GSE605, intersected 11.93 g/t gold over 41.45 metres, including 32 g/t Au over 8 metres, highlighting the continued opportunity for optimization of the current resource model.
“We continue to demonstrate and better define these structures that are two to three times the average grade of the current Umwelt underground reserve,” Bruce McLeod, president and CEO of Sabina Gold, said. “This current drilling follows on the strong results of drilling completed in 2020 at the Umwelt V2 zone, continuing to support the value of advancing the exploration ramp for better access to evaluate, grow and optimize this higher-grade material, which if accessed earlier in the mine life could improve already robust project economics.”
The underground portion of the Umwelt deposit planned for development currently hosts an estimated 3.49 million tonnes of 7.38 g/t for 829,000 oz. of gold in proven and probable reserves. The underground mineral structure is contiguous with that of the open pit, which hosts 2.67 million tonnes of 6.49 g/t gold for 557,000 oz. of gold in proven and probable reserves.
Exploration at Umwelt since the mineral resource estimate in October of 2014 has focused on targeting a higher-grade and thickened host rock corridor demarked by a quartz feldspar porphyry intersection with the lower iron formation. According to Sabina, there is a strong opportunity to increase the high-grade mineralization within the existing resource along the intersection up-plunge and along the upward plunge of the intersection towards the open pit.
Early development of the Umwelt underground could add over 80,000 oz. a year of gold production to the Back River gold project.
For more information, visit www.SabinaGoldSilver.com.
April 18, 2024
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