Western Nunavut gold mine project promoters say they’re “pleased” with drill results
Drill results from Sabina's "Lone Cow Pond South" deposit look promising
Sabina Gold and Silver Corp. announced Aug. 22 that its summer drilling results on the George property at its western Nunavut Back River project have been encouraging.
“Again, we are very pleased with the drill results,” said Rob Pease, Sabina’s resident and chief executive officer.
Sabina, aiming for a 2016 start-up on its gold mine project, said at the April 2013 Nunavut Mining Symposium in Iqaluit that it planned to spend more than $60 million in 2013 at Back River, which includes eight mineral deposits in areas referred to as the Goose and George properties.
That figure for exploration was upped by $20 million in May, for a total of $80 million on exploration in 2013.
The George property, about 50 kilometres to the north of Sabina’s Goose property, could become “a satellite mining centre,” with its ore trucked to the main milling infrastructure at Goose, the company said Aug. 22.
“We are encouraged that we continue to find opportunities to potentially add to the resources there, particularly possible open-pitable material,” Pease said.
Work will continue at the Goose property through September.
This summer, a total of 43 holes were drilled on the George property at the “Lone Cow Pond South” deposit.
Sabina said the results “clearly demonstrated the presence of persistent shallow, high grade mineralization over a strike length of approximately 200m.”
Once all results from the assays or tests for gold content have been received, these will be put into the updated resource estimate expected to be completed in early 2014, the company said.
A pre-feasibility study is expected to be announced in mid-October, 2013.
The Back River gold mine, which would take two years to build, operate for 10 to 15 years, and then take five years to close down, would hire 1,600 workers during the construction phase and 900 during the mine’s operations.
The project, which would produce 300,000 to 400,000 ounces of gold a year, would also include open-pit and underground mines.
And it would also need a port infrastructure and roads, like the Bathurst port and road, which Sabina has promoted with Xstrata Zinc.