This eight-hole drilling program at Umwelt targeted select areas near the interface of the planned open pit and upper portions of the underground where potential exists for optimization of the mine plan.
Assays for the first two drill holes include: 13.68 g/t Au over 31.90m, including 30.98 g/t Au over 9.90m in drill hole 22GSE605, and 11.93 g/t Au over 41.45m, including 32.00 g/t Au over 8.00m in drill hole 22GSE606. Results from drill hole 22GSE605 demonstrate the excellent potential for additional mineralization outside of the current mine plan, and drill hole 22GSE606 highlights the continued opportunity for optimization of the current resource model. See Table 1.0 below for details.
These new assays continue to support the continuity of higher grade portions of mineralization modeled in the resource and further defined by previous drilling completed at the V2 zone that have returned significant intercepts such as 19.89 g/t Au over 32.20m in hole 20GSE575C, including 51.50 g/t Au over 8.20m (see news release dated
Six of the drill holes (results pending) tested mineralization within the resource envelope over a plunge extent of 200m with vertical distance from surface ranging between 115m and 200m. Two additional drill holes were completed; one tested the anticline structure to the west of the high-grade corridor and outside of current planned underground mining areas, while a second was completed as a geomechanical test within the open pit. Planned drilling for the Hook zone, announced as part of this drilling program, was deferred.
“We continue to demonstrate and better define these structures that are two to three times the average grade of the current Umwelt underground reserve,” said
Figure 1.0: Stylized 60m wide inclined section of the short limb of the fold sequence, at the Umwelt Deposit, with the two drill holes in this release, and select intercepts from the 2020 V2 drilling: https://www.globenewswire.com/NewsRoom/AttachmentNg/a8a69ad2-1a37-477c-874e-5fea24a5ac5a
Table 1.0 – Selected Significant Drill Intercepts at Umwelt from Holes 22GSE605 & 22GSE606
Hole ID | Area | Azimuth/ Dip | Easting UTM | Northing UTM | Hole Depth (m) | From (m) | To (m) | Length (m) | Au (g/t) | Lithology | |
22GSE605 | UM | 233/-49 | 429958 | 7270918 | 203 | 160.80 | 192.70 | 31.90 | 13.68 | Iron Formation | |
incl. | 176.20 | 186.10 | 9.90 | 30.98 | Iron Formation | ||||||
incl. | 179.00 | 179.70 | 0.70 | 67.00 | Iron Formation | ||||||
incl. | 180.75 | 181.80 | 1.05 | 87.00 | Iron Formation | ||||||
22GSE606 | UM | 230/-48 | 430051 | 7270887 | 287 | 216.85 | 258.30 | 41.45 | 11.93 | Iron Formation | |
incl. | 222.35 | 223.30 | 0.95 | 88.00 | Iron Formation | ||||||
and | 236.90 | 237.60 | 0.70 | 27.70 | Iron Formation | ||||||
and | 239.00 | 247.00 | 8.00 | 32.00 | Iron Formation | ||||||
incl. | 240.00 | 241.05 | 1.05 | 99.50 | Iron Formation | ||||||
* Drill widths reported. True widths are unknown at this time. | |||||||||||
**See Table 2.0 for the full listing of all significant intervals for these diamond drill holes. |
Umwelt Underground and High-Grade Corridor Drilling
Sabina’s focus on the Umwelt deposit with drilling, core review, detailed modelling and structural interpretation over the last six years has yielded strong exploration and optimization opportunities, both at the deposit, and across the Goose Property. Geological learnings have driven positive resource growth and optimization at the Umwelt, Llama and Goose Main deposits, and generated exploration opportunities resulting in the discovery of the Nuvuyak resource and evolution of the Hook zone towards future growth as a possible new resource.
Results from drilling in 2022 will better inform portions of the higher-grade gold continuity and assist with design adjustments and potential optimizations of the pit wall and crown pillar design. A set of six drill holes targeted the intersection of the Quartz Feldspar Porphyry with the Lower Iron Formation within the short limb of the antiform/synform system; a plunging structure with significant width, of particularly high-grade gold mineralization (see Figure 1.0). Understanding and supporting mineralization continuity down plunge through this zone is important for forward planning and expansion, since the deposit is open along limbs and at depth.
Drill hole 22GSE605, targeting the intrusion of a Quartz Feldspar Porphyry Dyke through the Lower Iron Formation, intersected over 30m of mineralized iron formation, with a 10m interval of particularly robust mineralization characterized by heavily disseminated arsenopyrite, disseminated to semi-massive pyrrhotite, and several occurrences of visible gold. This interval corresponds with assays that returned 30.98 g/t Au over 9.90m, within a larger scale zone of strong gold mineralization. This intercept is situated immediately below the current planned open pit, and 10 m up-dip of the planned stopes, in the permanent crown pillar; an area not currently included in the estimated Reserves.
Drill hole 22GSE606, located approximately 100m down plunge of 22GSE605, targeted the intrusion of a Quartz Feldspar Porphyry Dyke through the Lower Iron Formation, within the current planned underground workings, to further test the continuity of the high-grade V2 gold zone. Much like hole 22GSE605, the drill hole intersected over 40m of well mineralized iron formation, with an 8.0m interval of particularly robust mineralization characterized by heavily disseminated arsenopyrite, disseminated to semi-massive pyrrhotite, and several occurrences of visible gold.
True width of the mineralized iron formation in both drill holes is closely represented by the intersections presented in Table 1.0, as drilling is nearly perpendicular to the short limb of the antiform/synform set.
Figure 2.0: Goose Property plan map showing 2022 drilling, targeting the Umwelt Deposit: https://www.globenewswire.com/NewsRoom/AttachmentNg/675e0b26-e087-4127-a76c-b90b0e96f614
Table 2.0 –Significant Drill Intercepts at Umwelt from Holes 22GSE605 & 22GSE606
Hole ID | Area | Azimuth/ Dip | Easting UTM | Northing UTM | Hole Depth (m) | From (m) | To (m) | Length (m) | Au (g/t) | Lithology | |
22GSE605 | UM | 233/-49 | 429958 | 7270918 | 203 | 13.60 | 14.20 | 0.60 | 1.89 | Iron Formation | |
160.80 | 192.70 | 31.90 | 13.68 | Iron Formation | |||||||
incl. | 176.20 | 186.10 | 9.90 | 30.98 | Iron Formation | ||||||
incl. | 179.00 | 179.70 | 0.70 | 67.00 | Iron Formation | ||||||
incl. | 180.75 | 181.80 | 1.05 | 87.00 | Iron Formation | ||||||
22GSE606 | UM | 230/-48 | 430051 | 7270887 | 287 | 69.90 | 71.15 | 1.25 | 1.16 | Iron Formation | |
Assays Pending | |||||||||||
199.45 | 200.95 | 1.50 | 9.05 | Iron Formation / Greywacke | |||||||
202.40 | 203.00 | 0.60 | 1.71 | Iron Formation | |||||||
216.85 | 258.30 | 41.45 | 11.93 | Iron Formation | |||||||
incl. | 222.35 | 223.30 | 0.95 | 88.00 | Iron Formation | ||||||
and | 236.90 | 237.60 | 0.70 | 27.70 | Iron Formation | ||||||
and | 239.00 | 247.00 | 8.00 | 32.00 | Iron Formation | ||||||
incl. | 240.00 | 241.05 | 1.05 | 99.50 | Iron Formation | ||||||
282.30 | 282.80 | 0.50 | 73.50 | Quartz Vein | |||||||
* Drill widths reported. True widths are unknown at this time. |
Qualified Person
All drill core samples selected within the exploration program are subject to a company standard of internal quality control and quality assurance programs which include the insertion of certified reference materials, blank materials and duplicates analysis. All samples are sent to ALS Global laboratories locations in
Sabina filed an Updated Feasibility Study (the “UFS”) on its first mine on the district, the
The Project has received all major permits and authorizations for construction and operations.
The Company has arranged a comprehensive project financing package comprised of:
- A
US$425 million senior secured debt facility, gold prepay and stream package withOrion Mine Finance and Wheaton Precious Metals Corp.; and US$221 million in equity including Zhaojin’s participation.
The Company is also very committed to its Inuit stakeholders, with Inuit employment and opportunities a focus. The Company has signed a 20-year renewable land use agreement with the
The Company continues to advance exploration and project optimization, including advancing the planned plant expansion to 4,000 tpd from Year two to initial startup.
All news releases and further information can be found on the Company’s website at www.sabinagoldsilver.com or on SEDAR at www.sedar.com. All technical reports have been filed on www.sedar.com
For further information please contact:
nhoeller@sabinagoldsilver.com
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including, but not limited to, statements related to the expected use of proceeds of the Offering and the projections and assumptions of the results of the UFS. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the uncertainty of production, development plans and costs estimates for the
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Figure 1.0:
Stylized 60m wide inclined section of the short limb of the fold sequence, at the Umwelt Deposit, with the two drill holes in this release, and select intercepts from the 2020 V2 drilling.
Figure 2.0:
Goose Property plan map showing 2022 drilling, targeting the Umwelt Deposit.
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