VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/13/11 -- Sabina Gold & Silver Corp. (TSX: SBB) is pleased to announce new assay results from holes drilled as part of its 2011 exploration program at the Umwelt and Llama deposits on the Goose property at its 100% owned Back River Project in Nunavut, Canada.
The 2011 drilling campaign at Back River has been focussing on expanding the existing deposits at Umwelt and Llama, and looking for new discoveries by applying the Company's exploration tool box on open pit targets. Work has been completed or is in progress on the Goose and George claim blocks, as well as the Wishbone gold claims.
"Aggressive expansion drilling continues at our gold deposits at Goose and we continue to increase the size of Umwelt and Llama. We are now focussed on resource expansion drilling in key areas of the extension to Umwelt prior to season completion," said Tony Walsh, President & CEO. "We plan on using up all of our contingency supplies before the season comes to a close at the end of September aggressively working at Goose and at Wishbone looking for new discoveries. Although many assays remain pending and holes are still in progress, it is fair to say that this year's campaign at Back River has delivered on our objectives to expand our existing deposits and make new discoveries. We are looking forward to measuring the results of this year's work and to incorporating them into future studies."
Umwelt drilling continues to intersect strong mineralization. New results include hole 11GSE096 drilled on section 4400N, which returned 9.02 g/t Au over 26.30 m including 27.21 g/t Au over 5.0 m. This hole targeted a 230 m gap in drilling between hole 11GSE026 which returned 9.09 g/t Au over 12.0 m and hole 11GSE052 which returned 10.19 g/t Au over 33.0 m.
Hole 11GSE106 drilled on section 4050N, returned 12.01 g/t Au over 23.50 m including 23.46 g/t Au over 9.0 m. This is an infill resource hole which intercepted wide mineralization at a vertical depth of 615 m below surface. These results continue to demonstrate the continuity of the Umwelt deposit and that these resources can continue to expand to the south and to depth.
Umwelt Drill Highlights
----------------------------------------------------------------------------
Len- Comment/
Hole Sec- East- North- From To gth Au Mineral
Id Area tion ing ing Depth (m) (m) (m) (g/t) Zone
----------------------------------------------------------------------------
11GS- Um-
E096 welt 4400 430347 7270728 504.6 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
444 470.3 26.3 9.02 East
----------------------------------------------------------------------------
incl- Main
udi- Zone
ng 461 466 5 27.21 East
----------------------------------------------------------------------------
Additional Assays Pending
----------------------------------------------------------------------------
11GS- Um-
E105 welt 4250 430509 7270672 578 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
543.55 549.8 6.25 3.78 East
----------------------------------------------------------------------------
Additional Assays Pending
----------------------------------------------------------------------------
11GS- Um-
E106 welt 4050 430713 7270571 755 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
704.85 728.35 23.5 12.01 East
----------------------------------------------------------------------------
incl- Main
udi- Zone
ng 714 723 9 23.46 East
True widths are estimated to be 70% of drill widths.
Drilling at Llama has also extended the zone an additional 100 metres to the south. Hole 11GSE077 on section 4600N returned 10.88 g/t Au over 9.80 m including 29.13 g/t Au over 2.90 m on the western limb of the Main Zone. This hole was a follow-up to hole 11GSE067 also on section 4600N which returned 1.29 g/t Au over 28.90 m. Hole 11GSE067 had a low sulphide content, but contained a number of fine visible gold occurrences which returned higher grades over narrower widths. The Main Zone West at Llama contains many high grade intercepts including hole 10GSE041 drilled in 2010 and which returned 25.43 g/t Au over 20.00 m. Hole 11GSE077 demonstrates that Main Zone West at Llama is open to the south.
Also intersected in hole 11GSE077 was a zone called the Flying Wedge located immediately to the west of Llama. A 17.5 m wide zone grading 1.42 g/t Au was intersected along the lower base of an thick iron formation and this interval includes a 5.0 m grading 3.54 g/t Au. While initial geological interpretation indicated this interval maybe down dip, the intercept demonstrates the prospectivity of this extensive thick iron formation.
While Llama is more complex than Umwelt, these new results indicate that the resource may be able to expand with further drilling.
Llama Drill Highlights
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Len- Comment/
Sec- East- North- Dep- From To gth Au Mineral
Hole Id Area tion ing ing th (m) (m) (m) (g/t) Zone
----------------------------------------------------------------------------
11GSE067 Llama Main
Zone
4650 429225 7272030 446 296.6 325.5 28.9 1.29 West
----------------------------------------------------------------------------
including Main
Zone
296.6 298.4 1.8 6.44 West
----------------------------------------------------------------------------
and Main
Zone
322.5 325.5 3 4.56 West
----------------------------------------------------------------------------
Main
Zone
345.5 346.5 1 2.33 West
----------------------------------------------------------------------------
11GSE077 Llama Flying
Wedge
4600 428817 7271739 434 52.5 70 17.5 1.42 BIF
----------------------------------------------------------------------------
including Flying
Wedge
53.5 58.5 5 3.54 BIF
----------------------------------------------------------------------------
Main
Zone
395.5 405.3 9.8 10.88 West
----------------------------------------------------------------------------
including Main
Zone
397.5 400.4 2.9 29.13 West
True widths are estimated to be 70% of drill widths.
The Mineral Resources for Umwelt, as calculated by RPA in March 2011 using holes drilled prior to 2011, consist of Indicated Resources of 4,601,000 tonnes grading 6.1 g/t Au for 900,000 ounces of gold and Inferred Resources of 1,067,000 tonnes grading 6.4 g/t Au for 221,000 ounces of gold.
The Mineral Resources for Llama, as calculated by RPA in March 2011, consist of Indicated Resources of 1,860,000 tonnes grading 9.4 g/t Au for 562,000 ounces of gold and Inferred Resources of 980,000 tonnes grading 5.7 g/t Au for 180,000 ounces of gold.
The global Back River gold resource consists of an Indicated resource of 9,876,000 tonnes grading 8.33 g/t Au for 2,655,000 ounces Au and Inferred resources of 5,602,000 tonnes grading 8.65 g/t Au for 1,562,000 ounces Au.
There are currently six drills operating at Back River and Wishbone. Four drills are working on resource expansion at Umwelt while two rigs are operating on the Wishbone property. Many assays from both projects are still pending.
SABINA GOLD & SILVER CORP.
Sabina Gold & Silver Corp. is an emerging precious metals company with district scale, world class undeveloped assets in one of the world's newest, most politically stable mining jurisdictions: Nunavut, Canada.
Sabina's primary properties consist of the Back River Gold Project as well as the Wishbone Claims, a vastly prospective grass roots project and the Hackett River poly metallic project all in Nunavut. The Company has announced a proposed sale of Hackett River and certain claims in the Wishbone greenstone belt to Xstrata Zinc Canada Division (Xstrata). The process to close the transaction with Xstrata is well underway and is expected to close later this year.
Quality Assurance
Mr. Doug Cater, P. Geo, and Project Manager, Back River Project of Sabina Gold & Silver Corp. is a Qualified Person under the terms of NI43-101 and has reviewed the technical content of this press release for the Back River Project and has approved its dissemination.
Mineral resources for Goose and George were generated by RSG Global Consulting Pty Ltd. (Coffey Mining) in September 2007. Mineral resources for Llama and Umwelt deposits were generated by Roscoe Postle Associates (RPA) in March 2011. These are all posted on www.sedar.com.
Diamond drill core was sent to TSL Laboratories in Saskatoon, Sask. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy. The protocols and procedures used in 2011 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the above noted 43-101 compliant resource reports.
Forward Looking Statements
Statements relating to exploration, pre-feasibility work and future operations at the Back River Project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", 'projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2010.
Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, change. This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.
Tony Walsh, President & CEO
Table 1: Recent Umwelt Deposit Assay results
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Len- Comment/
Hole Sec- East- North- From To gth Au Mineral
Id Area tion ing ing Depth (m) (m) (m) (g/t) Zone
----------------------------------------------------------------------------
11GS- Um- Main
E080 welt Zone
4050 430574 7270462 674 570.8 573.25 2.45 6.25 East
----------------------------------------------------------------------------
Main
Zone
592.2 592.5 0.3 164.00 East
----------------------------------------------------------------------------
11GS- Um-
E096 welt 4400 430347 7270728 504.6 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
444 470.3 26.3 9.02 East
----------------------------------------------------------------------------
incl- Main
udi- Zone
ng 461 466 5 27.21 East
----------------------------------------------------------------------------
Additional Assays Pending
----------------------------------------------------------------------------
11GS- Um-
E105 welt 4250 430509 7270672 578 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
543.55 549.8 6.25 3.78 East
----------------------------------------------------------------------------
Additional Assays Pending
----------------------------------------------------------------------------
11GS- Um-
E106 welt 4050 430713 7270571 755 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
704.85 728.35 23.5 12.01 East
----------------------------------------------------------------------------
incl- Main
udi- Zone
ng 714 723 9 23.46 East
----------------------------------------------------------------------------
11GS- Um-
E114 welt 4650 430196 7270906 479 Additional Assays Pending
----------------------------------------------------------------------------
Main
Zone
321.85 324 2.15 2.36 East
----------------------------------------------------------------------------
Main
Zone
339 348.6 9.6 9.63 East
----------------------------------------------------------------------------
incl- Main
udi- Zone
ng 347 348.1 1.1 32.12 East
----------------------------------------------------------------------------
Additional Assays Pending
----------------------------------------------------------------------------
Table 2: Recent Llama Deposit Assay results
----------------------------------------------------------------------------
Len- Comment/
Sec- East- North- De- From To gth Au Mineral
Hole Id Area tion ing ing pth (m) (m) (m) (g/t) Zone
----------------------------------------------------------------------------
11GSE067 Llama Main
Zone
4650 429225 7272030 446 296.6 325.5 28.9 1.29 West
----------------------------------------------------------------------------
including Main
Zone
296.6 298.4 1.8 6.44 West
----------------------------------------------------------------------------
and Main
Zone
322.5 325.5 3 4.56 West
----------------------------------------------------------------------------
Main
Zone
345.5 346.5 1 2.33 West
----------------------------------------------------------------------------
11GSE077 Llama Flying
Wedge
4600 428817 7271739 434 52.5 70 17.5 1.42 BIF
----------------------------------------------------------------------------
including Flying
Wedge
53.5 58.5 5 3.54 BIF
----------------------------------------------------------------------------
Main
Zone
395.5 405.3 9.8 10.88 West
----------------------------------------------------------------------------
including Main
Zone
397.5 400.4 2.9 29.13 West
----------------------------------------------------------------------------
11GSE082 Llama Main
Zone
4550 429291 7271955 476 333.85 334.8 0.95 3.88 West
----------------------------------------------------------------------------
Main
Zone
338.5 356.1 17.6 4.20 West
----------------------------------------------------------------------------
including Main
Zone
338.5 340.5 2 13.10 West
----------------------------------------------------------------------------
including Main
Zone
346.5 348.5 2 5.71 West
----------------------------------------------------------------------------
including Main
Zone
353.5 356.1 2.6 12.95 West
----------------------------------------------------------------------------
Main
Zone
364 367 3 1.33 West
----------------------------------------------------------------------------
Main
Zone
381 382 1 1.17 West
----------------------------------------------------------------------------
To view Figures 1-8 associated with this release, please visit the following link: http://media3.marketwire.com/docs/sbb0913i.pdf.
Contacts:
Sabina Gold & Silver Corp.
Nicole Hoeller
Director, Investor Relations
(604) 998-4175 or Toll Free: 1 (888) 648-4218
(604) 998-1051 (FAX)
nhoeller@sabinagoldsilver.com
www.sabinagoldsilver.com
