- Sabina Gold (SBB) has revealed the first drill results from its summer exploration program at the Back River gold project in Nunavut
- Recent exploration has focussed on the vault zone of site’s Umwelt underground deposit
- Notably, drilling intersected 19.4 metres at 16.28 grams per tonne gold, which included 2.4 metres at 44.09 grams per tonne gold
- Other results include 24.75 metre at 7.5 grams per tonne gold, which contained 12 metres at 13.72 grams per tonne gold
- Sabina Gold (SBB) is up 4.8 per cent and is trading at C$2.57 per share
Sabina Gold (SBB) has revealed the first drill results from its summer exploration program at the Back River gold project in Nunavut.
The assays from the first three of six holes sunk into the property have been assayed, revealing promising assays. The first hole intersected 19.40 metres of strike grading at 16.28 grams per tonne gold, which included a higher grade at 44.09 grams per tonne gold across 2.4 metres.
The second result from hole 572 returned a 27.45-metre-long strike that graded at 5.01 grams per tonne gold, which included 7.7 metre at 12.64 grams per tonne gold. The final hole hit 24.75 metres grading at 7.50 grams per tonne, which also included a 12-metre strike grading at 13.72 grams per tonne.
All three drills were sunk into the vault zone of the property’s Umwelt deposit, following strong results from drilling from that area in 2017 and 2019.
Sabina completed a feasibility study for Back River in 2015 but only recently received all the permits required to commence construction.
Through this latest drilling program, the company is hoping to upgrade the mineral resource and expects to begin production within the next few years.
President and CEO of Sabina, Bruce McLeod, said these latest results demonstrate the Umwelt underground reserve’s considerably potential for high grade gold zones.
“We are very encouraged by the strong start of this year’s program at Umwelt which has been focused on demonstrating a higher-grade corridor up plunge from the vault zone towards the bottom of the Umwelt open pit reserve,” he said.
Sabina Gold (SBB) is up 4.8 per cent and is trading at $2.57 per share at 11:30am EDT.