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November 4, 2013
“The results of our 2013 field work continue to increase the resource potential at Back River,” said Rob Pease, President & CEO. “The Echo Zone was the first new zone discovered on the Goose project at Back River when Sabina purchased the property in 2009. Work on Echo continued in 2010 until the discovery of the Llama and Umwelt deposits, which shifted the focus of work on the Goose property. Echo has never been included in any of the resource estimates at Back River. This year, re-interpretation of prior drilling at Echo resulted in an infill program and holes testing newly defined targets in the zone. We are encouraged by the results of this work and the potential of Echo to become a supplemental open pit on the Goose property”.
The Back River Project is made up of a series of mineral properties: Goose and George (which contain the existing resources) and four other exploration areas: Boot, Boulder, Del, and Bath. The bulk of the identified resources at Back River are found in a 7km long zone of folded banded iron formation at the Goose Property. Within the Goose Property, resources to date have been identified in three separate deposits: Umwelt, Llama and Goose Main.
Echo lies within the Goose Property approximately 1.5 km southwest of the Goose Main deposit.
The Echo Zone is a variably mineralized, steeply south dipping, east-west to northeast striking iron formation that was a priority of the company’s exploration efforts until the focus turned to the Umwelt and Llama Deposits in 2010-11. The zone had been explored over approximately 600m in strike length and sporadically to 150m depth, but its limits were not well defined in any direction.
In 2013, the Echo Zone area was re-evaluated, and an 18 hole drill program was carried out to extend and better define the known mineralization to the west and northeast and/or east with the aim of targeting near surface open pit resources. To date, approximately 50 holes in total have been drilled on the zone.
The 2013 drilling indicates that the Echo Zone is open to the northeast, and at depth. In addition, encouraging drill intercepts (holes 13GSE435 returning 13.13g/t Au over 12.55m and 13GSE395 returning 7.73g/t Au over 12.20m, both intercepting the iron formation at vertical depths of approximately 150m) suggest that the deposit has improved grade with depth.
As part of the company’s ongoing feasibility study of the Back River Project, modeling is currently underway to define the resource potential at Echo.
For all 2013 significant assays, please see the table attached to this news release.
The Qualified Person as defined by NI 43-101 as pertains to the Back River Project, is Angus Campbell, P.Geo, Vice-President, Exploration, for the Company.
True widths for the intercepts reported in this news release have not yet been determined.
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 2013 are the same as those used in earlier campaigns by Sabina Gold & Silver Corp. and have been deemed appropriate in the Company’s 43-101 compliant resource reports.
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