- Sabina Gold (SBB) has completed the permitting process for its Back River project in Nunavut
- After receiving the required water management and drilling approvals, the site is fully permitted for construction and operations
- Sabina is currently completing a drilling program, designed to extend the site’s mineral resource estimate
- The site is currently estimated to contain 21 million tonnes of measured resource at 5.97 grams per tonne gold and 2.91 million tonnes of inferred resource at 9.26 grams per tonne gold
- Sabina Gold (SBB) is down 0.7 per cent and is trading at C$2.55 per share
Sabina Gold (SBB) has completed the permitting process for its Back River project in Nunavut.
After receiving the required water management and drilling approvals, the site is fully permitted for construction and operations.
As the company has now received its water management and drilling approvals for the site, the site is fully permitted for construction and operations.
Meanwhile, the Vancouver-based junior is closing in on a final production decision for the project and is currently completing some further drilling to expand the site’s mineral resource estimate.
Previous work estimated the site’s resource to be 21 million tonnes of measured resource at 5.97 grams per tonne gold, totalling 4.1 million ounces and 2.91 million tonnes of inferred resource at 9.26 grams per tonne gold totalling 869,530 ounces inferred.
The company is hoping to expand and update this resource estimate, as well as the 2015 feasibility study, which outlines a 200,000-tonne-a-year mining operation.
President and CEO of Sabina Gold, Bruce McLeod said since completing its feasibility study the company had been making great progress at the project.
“As we waited for the capital markets to improve to be able to finance the project, we focused considerable activity on identifying opportunities that we believe will significantly de-risk and enhance the project.
“We have also made new discoveries since during this time that have demonstrated the potential for resource expansion and have highlighted the high-grade nature of our deposits,” he said.
Sabina Gold (SBB) is down 0.7 per cent and is trading at C$2.55 per share at 11:56am EDT.