There’s been roughly half a billion invested in Sabina’s Back River gold project project over the past few decades. Two full Feasibility Studies contemplating a mid-sized and large mine with a combination of open pits and underground mining. They are the highest-grade undeveloped open pits in North America. Finally, Sabina achieved a critical permitting milestone this month.
CEO Bruce McLeod directs me to page 19 on his corporate presentation. http://www.sabinagoldsilver.com/assets/docs/presentations/2017-07-20-cp.pdf
He says the Umwelt Vault discovery could be a game-changer for an already world-class project.
A dozen drill holes into Umwelt Vault, roughly 700 metres deep, show gold at ~double the normal grades and widths of the rest of Sabina’s resource. Several hits were over four times the already high-grade average resource.
Sabina’s headed back there with the drill bit right now for 6 infill follow-up holes to inform a maiden resource estimate and economic study later this year.
“With successful infilling, Umwelt Vault has the opportunity to add 30% to the annual gold production profile with a modest increase in plant capacity, which could have a significant impact to both IRR and NAV,” McLeod says.
Exploration upside at Umwelt Vault remains open to the east. First drill results are expected in late September.
http://www.sabinagoldsilver.com/
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