Sabina Gold & Silver Reports Final 2018 Exploration Results and Continued Expansion of the Nuvuyak Discovery
GlobeNewswire•January 7, 2019
Nuvuyak Drill hole 18GSE559W1 returns 12.41 g/t Au over 8.70 meters
and
Drill hole 18GSE559 returns 8.17 g/t Au over 13.00 meters
VANCOUVER, British Columbia, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (SBB.T), (“Sabina” or the “Company”) is pleased to announce final exploration results from 2018, including the down plunge expansion of the Nuvuyak discovery at Sabina’s 100% owned Back River gold project (“Back River” or the “Project”) in Nunavut Canada.
In 2018, the Company completed 22,500 m of diamond drilling including 16,500 m of drilling during the summer exploration program. The summer program largely focussed on the new high-grade discovery at Nuvuyak as well as advancing additional high priority targets for the Goose Property which includes the Llama Extension (see press release Sept 18, 2018), Hook, Umwelt, and Echo zones.
Summer program results are highlighted by the rapid expansion of the Nuvuyak discovery where a strong down plunge extension of approximately 50 m is confirmed by new results (hole 18GSE559 returning 8.17 g/t over 13.00 m and drill hole wedge cut 18GSE559W1 returning 12.41 g/t over 8.70 m (see Table 1)).
Hole 18GSE559 intersected 50 m down plunge of the discovery hole 18GSE545. This hole, was used as a parent hole for a subsequent wedge cut (hole 18GSE559W1) which started at a depth of 435 m down hole 18GSE559. This hole also intersected mineralized iron formation 80 m up dip of the parent hole along the same section within a portion of the anticline hinge.
Sabina initially drill tested the Nuvuyak target in the spring of this year intersecting key exploration elements that led to the development of a geological vectoring model (see press release June 5, 2018). This model was tested in early summer drilling and resulted in the discovery of the Nuvuyak deposit (hole 18GSE545 returning 11.58 g/t over 39.50 m - see news release August 20, 2018). With the conclusion of the summer drill program, the Nuvuyak target has been tested over a total target length of approximately 200 meters along strike. The target remains open and untested in all directions with strong geologic control shown through current drilling intersections (see Figure 2, Nuvuyak – Hinge long section).
The Sabina geological team has hypothesized that an interconnected large-scale mineralization trend or a number of related trends exists at the Goose Property extending from the southern Goose Main zone to the northern Llama zone. The Nuvuyak discovery adds credence to this theory. Significant portions of the Goose Property are largely unexplored and Sabina plans to continue with targeting of these areas in future exploration programs.
Bruce McLeod, President and CEO stated “Sabina has successfully completed a number of de-risking activities during 2018 as we push towards project development while concurrently demonstrating, through exploration success that Back River is a world class gold project within an emerging district. Our success in making a new discovery at the Nuvuyak target, high grade optimization drilling at Umwelt Vault, confirming a sizable extension at Llama and demonstrating the Boulder property as an area for potential new discoveries, are significant developments in 2018. This work continues to unlock a much larger picture in terms of resource and district potential and overall mine life extension”.
During 2019, Sabina will follow up on the successful 2018 exploration programs. We are in the final stage of designing and budgeting a program of field mapping, rock sampling, till sampling, geophysics and diamond drilling at Back River. This work is designed to expand existing resources and advance and delineate exploration targets towards the discovery of new mineralization that has the potential to favorably impact project economics.
It is expected that a 6,000 m spring drilling program will commence in early March with an additional follow up program during the summer months. This year’s drilling will focus on following up on the significant 2018 results at Nuvuyak along with testing a number of targets that include the up plunge trending Hook zone and higher grade aras of the Llama extension structure. |
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