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Sabina Gold & Silver (TSX:SBB OTC:SGSVF)
An SI Board Since December 2010
Posts SubjectMarks Bans Symbol
4 2 0 SGSVF
Emcee:  Joey Two-Cents Type:  Unmoderated
Sabina is a Canadian precious metals exploration company with a portfolio of projects at different stages of development in Canada. The company’s flagship projects are located in Nunavut in the Canadian far north. The Nunavut assets, which are in close proximity to each other, consist of the Hackett River silver-zinc project, the Back River gold project (which contains the George Lake and Goose Lake gold deposits) and the Wishbone claims, a 3,000km2 greenstone belt that includes Hackett River as well as many other base and precious metals targets. Hackett River contains about 60mt of massive sulphides, making it one of the 10 largest volcanogenic massive sulphide (VMS)deposits in the world. A PEA suggests that the deposit could support an annual production of 13.3m ozs of silver for more than 10 years. Exploration is ongoing at Hackett River to increase the resource and add higher grade open pittable resources to improve on project economics

Collectively, the George Lake and Goose Lake deposits contain 2.36m ozs of gold. Exploration is focused on finding an additional 0.75m ozs to support an open-pit mining operation with grades that are likely to be in excess of 10.0g/t.

In northern Manitoba, the company recently signed a deal to acquire a 100% interest in 78 claims (Cook Lake property) that are adjacent to and north of HudBay Minerals Inc.’s newly discovered Lalor copper-gold-zinc deposit. This project should help provide Sabina with year-round exploration newsflow.

In addition, the company holds the Newman-Madsen, Redaurum, Golden Sidewalk and Skinner gold exploration properties in Red Lake, Ontario, and the Del Norte gold exploration project near Stewart, BC.

Both Umwelt and the nearby Llama Lake discovery are to be the subject of resource estimates, expected to be completed early in 2011. The company also reported that it is preparing a new resource estimate for the original Goose Deposit to determine the potential for an open pit operation. If all studies are positive, the company anticipates beginning a scoping study on Back River following completion of the resource estimates.

Production is expected to commence at Back River (Goose Lake)in Q1/15, increasing to average annual production of 240koz of gold at cash costs of US$400/oz gold over a 9.25-year mine life. Hackett River production is forecast to commence in Q4/16, ramping up to production of 9.9Moz of silver,13koz of gold, 121kt of zinc, 6.8kt of copper and 1kt of lead at co-product cash costs of US$7.09/oz silver.

134.1 M Shares Outstanding

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