Sabina Gold & Silver Corp. [SBB-TSX; SGSVF-OTCQX] reported initial results from the summer drilling program at the Umwelt deposit on its 100%-owned Back River gold project in Nunavut, Canada.
Results include 15.15 g/t over 19.40 metres in drill hole 20GSE571, 12.64 g/t gold over 7.70 metres in hole 20GSE572 and 19.27 g/t gold over 7.00 metres in hole 20GSE573.
Assays have been received for the first three of six drill holes following up on strong results of higher grade drilling at the Vault Zone completed during 2017 to 2019. The purpose of this year’s drilling is to test whether the higher than average grades encountered in the Vault Zone extend up-plunge to the bottom of the planned open pit at Umwelt. If demonstrated, this could present an opportunity to revisit mine sequencing with a view to mining higher grade underground material earlier in the mine life.
Recent drilling results in holes 20GSE571 to 20GSE573 support the hypothesis of a second Vault-type zone just below the bottom of the proposed open pit at Umwelt.
“During the past three years we have demonstrated and advanced the potential for higher grade zones within the current Umwelt underground reserve,” said Bruce McLeod, President and CEO. “We are 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. The current underground reserve at Umwelt consists of three cells, with the Vault Zone being partially included in cell C at about 800 metres underground and still open down-plunge. These first three holes targeted drilling at cell A and the top of cell B and demonstrate the potential for an additional Vault-type zone closer to the boundaries of the open pit. This is important as it offers opportunities for higher grade material to be released earlier in the mine life and to significantly impact project economics. Plans for 2020 to 2021 include construction of an access ramp to provide a drill platform for further exploration drilling of these high-priority targets.”