Sabina Silver Commences Drilling on Its Golden Sidewalk and Skinner Properties in the Red Lake District
Thursday November 29, 9:00 am ET
ca.us.biz.yahoo.com
THUNDER BAY, ON--(MARKET WIRE)--Nov 29, 2007 -- Sabina Silver Corporation (CDNX:SBB.V - News) is pleased to announce the commencement of drilling at its 100% owned Golden Sidewalk and Skinner properties in the Red Lake Mining District of Ontario.
The Golden Sidewalk drilling is targeting the projected down-dip extent of high-grade mineralization encountered in the historic Bathurst Mine. Grades from the previously mined silicified shear zone have ranged from 17.83g/t Au over 1.07 m to 51.43gpt Au over 0.61 m according to historic information available for the property.
The proposed drilling will test the mineralized structure below a depth of 175 m, the current limit of exploration. A minimum of 6,250 meters of drilling is planned for the Golden Sidewalk property.
A smaller drill program of approximately 1400 metres is proposed for the Skinner property to evaluate a similar high-grade gold-bearing silicified shear zone at the Dunkin showing. Recent surface grab sampling at this prospect has returned assays of 0.038 gpt Au to 73.418 gpt Au. This programme will be drilled during winter after completion of the Golden Sidewalk drill program.
Sabina Silver Corporation is debt free, with approximately C$54 million working capital in cash and securities as at the end of October 2007. In addition to drilling at its Golden Sidewalk and Skinner properties, the company is exploring under varying joint venture arrangements with Goldcorp and Premier Gold Mines two additional promising gold projects in the Red Lake Mining District. Sabina Silver is also exploring the Del Norte silver-gold project in the Stewart-Eskay Creek Mining District of British Columbia, is advancing the Hackett River Project in the Kitikmeot region of Nunavut through prefeasibility assessment and is also exploring the silver-zinc Rockstone project in the Thunder Bay Mining District, Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
ALBERT BRANTLEY
President/CEO and Director
The foregoing securities have not been, nor are there any current plans to register said securities under the United States Securities Act of 1933, as amended, and these securities may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful.
Sabina Silver Corporation does have a Moody's/Mergent Manual ("Blue Sky") exemption allowing distribution without registration in 39 states for secondary trading transactions only. Always consult a Registered
Investment Advisor.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may," "will," "plan," "expect," "anticipate," "estimate," "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. Sabina Silver Corporation does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange does not accept responsibility for the accuracy or the adequacy of this release.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact:
For further information, please contact:
Albert Brantley
1004 Alloy Drive
Thunder Bay, Ontario P7B 6A5
Phone: 807-766-1799
Fax: 807-343-0232
Email: info@sabinasilver,.com
Visit our web site at sabinasilver.com
Source: Sabina Silver Corporation |
