Sabina Gold & Silver Reports Multiple High-Grade Intercepts from Upper Portion of Umwelt High-Grade Corridor (V2 Zone)
Sabina Gold & Silver Corp (SGSVF) has announced exceptional assay results from drilling at the Umwelt Underground resource in its Back River Gold Project, Nunavut. The latest holes reported include 23.52 g/t over 22.75m, 20.02 g/t over 20.55m, and 14.78 g/t over 24.80m. Internal studies suggest that extracting higher-grade material early in mining could boost project economics. The company is advancing its exploration with an underground ramp slated for development in early 2021, aiming to enhance resource understanding and support a revised feasibility study expected in Q1 2021.
- Exceptional assay results from drilling: 23.52 g/t over 22.75m, 20.02 g/t over 20.55m, and 14.78 g/t over 24.80m.
- Internal studies indicate potential for improved project economics by mining higher-grade material early.
- Planned construction of an underground exploration ramp to enable further exploration and bulk sampling.
- None.
Results include 23.52* g/t over 22.75m in hole 20GSE582, 20.02* g/t over 20.55m in hole 20GSE581 and 14.78 g/t over 24.80m in hole 20GSE584
*weighted average including uncapped assay results
VANCOUVER, British Columbia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce further high grade assay results from drilling of the upper portions of the high-grade corridor at the Umwelt Underground resource (the “V2 Zone”) on its
Internal studies conducted earlier this year suggest that mining higher-grade underground material at the beginning of the mine life could have a significant positive impact on project economics by increasing gold production in the early years. Drilling was designed to delineate and detail the nature of the high-grade structure at Umwelt, which has never been discretely targeted. During the 2020 field program, nine holes were drilled, proving the hypothesis that additional high-grade corridors exist between the Vault Zone at depth and the bottom of the proposed open pit at Umwelt.
This year’s drilling focused on a zone directly under the proposed Umwelt open pit (V2 Zone) at a depth that ranges from 135m to 285m below surface, over a plunge extent of approximately 300 m. All seven drill holes targeting this zone returned exceptional widths of gold mineralization, up to 2-3 times the average grade of the Umwelt underground reserve. The V2 Zone is very similar to the Vault Zone, further supporting the concept of additional high-grade underground corridors within the Umwelt deposit. These results will be incorporated into an updated Feasibility Study expected to be released in the 1st Quarter of 2021.
To further explore the high-grade corridor at Umwelt, the Company is moving forward with an underground exploration ramp that can facilitate further exploration drilling as well as provide for bulk sampling. The exploration ramp could provide early access to continue exploring the V2 Zone with approximately 1500m of ramp development. The initial surface work and mobilization of equipment required to support the exploration ramp is underway, with collaring of the decline expected in early 2021.
These assay results are the final three holes from the V2 Zone and include: hole 20GSE581 which returned 16.59 g/t over 20.55 m hole 20GSE582 which returned 14.78 g/t over 22.75 m and hole 20GSE584 which returned 14.78 g/t over 24.80 m (Figure 1). One additional drill hole 20GSE576 targeted mineralization located 200 m below the V2 zone with results as described in table 3.0.
Highlights from previous drilling at V2 as reported includes 15.15 g/t over 19.40 m in hole 20GSE571 (see news release August 20, 2020) and 19.89 g/t over 32.20 m in drill hole 20GSE575C (see news release September 3, 2020). See figure 1 and summary table 2.
“The consistent widths and high grades returned to date from our V2 Zone highlight and confirm upside to the Umwelt underground resource,” said Bruce McLeod, President & CEO. “this could enable an optimization to our mine sequencing, enhancing the economics of an already robust project as well as provide the opportunity to increase the production profile in the early years of the mine life. The Company intends to incorporate these results into an updated Feasibility Study to be completed in Q1, 2021. Currently Sabina has commenced civil works to prepare for collaring of the exploration ramp next spring for the purpose of accelerating additional underground drilling to further define opportunities at the Umwelt underground.”
Table 1.0 – Selected Significant Intercepts from 2020 Umwelt Drilling Including New Results from Drill Holes 20GSE581, 20GSE582 and 20GSE584
| Hole ID | Area | Azimuth & Dip | Easting UTM | Northing UTM | Hole Depth (m) | From (m) | To (m) | Length (m) | Au (g/t) | Au (g/t) Capped | Lithology |
| 20GSE581 | UM | 230/-48 | 429969 | 7270911 | 212 | 173.30 | 176.65 | 3.35 | 26.89 | n/a | Iron Formation |
| incl. | 173.30 | 174.30 | 1.00 | 48.30 | n/a | Quartz Vein | |||||
| 180.20 | 200.75 | 20.55 | 20.02 | 16.59 | Iron Formation | ||||||
| incl. | 181.15 | 182.35 | 1.20 | 29.70 | n/a | Iron Formation | |||||
| and | 187.50 | 188.55 | 1.05 | 44.80 | n/a | Iron Formation | |||||
| and | 190.80 | 198.00 | 7.20 | 38.56 | 28.77 | Iron Formation | |||||
| incl. | 192.40 | 193.15 | 0.75 | 174.00 | 80.00 | Iron Formation | |||||
| 20GSE582 | UM | 229/-56 | 430182 | 7270849 | 356 | Assays Pending | |||||
| 312.25 | 335.00 | 22.75 | 23.52 | 14.78 | Iron Formation | ||||||
| incl. | 327.45 | 335.00 | 7.55 | 67.45 | 41.13 | Iron Formation | |||||
| incl. |
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FAQ
What are the latest assay results from Sabina Gold & Silver Corp's drilling?
Sabina Gold & Silver Corp reported assay results of 23.52 g/t over 22.75m, 20.02 g/t over 20.55m, and 14.78 g/t over 24.80m from drilling at the Umwelt Underground resource.
When will the updated feasibility study for the Back River Gold Project be released?
The updated feasibility study for the Back River Gold Project is expected to be released in the first quarter of 2021.
What is the significance of the V2 Zone in the Back River Gold Project?
The V2 Zone is crucial as it has shown high-grade gold mineralization that may enhance project economics and increase the production profile in the early years of the mine's life.
What steps is Sabina Gold & Silver Corp taking for further exploration at the Umwelt Underground?
The company is constructing an underground exploration ramp to facilitate further drilling and provide bulk sampling opportunities.
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