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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (213942)	4/26/2012 11:18:16 AM
From: Veteran98	1 Recommendation Read Replies (1) \| Respond to of 313856

SBB Sabina drills 36.4 m of 15.16 g/t Au at Back River Sabina Gold & Silver Corp (C:SBB) Shares Issued 161,138,637 Last Close 4/25/2012 $2.40 Thursday April 26 2012 - News Release Mr. Rob Pease reports SABINA ANNOUNCES HIGH GRADE DRILL RESULTS FROM 2012 DRILLING AT LLAMA DEPOSIT, BACK RIVER GOLD PROJECT, NUNAVUT Sabina Gold & Silver Corp. is releasing first-round assay results from holes drilled at the Llama deposit on the Goose claim block as part of the 2012 exploration at its 100-per-cent-owned Back River project in Nunavut, Canada. As previously announced, Sabina is committed to a significant work program at Back River for 2012. One of the objectives of this year's campaign is to increase and upgrade the resources at the existing deposits at Llama and Umwelt through infill and extension drilling. The 2012 exploration program at Back River is planned to deliver a total of approximately 76,000 meters of drilling with capacity to increase if warranted based on positive results. Drilling began at the Llama deposit in early March and is currently focussed on lake based ice drilling targets situated on the East and West limbs of the deposit. Drilling is centred on the core of the current open pit concept and is designed to upgrade resources from the inferred category to the indicated category. Drillhole 12GSE141 is located at the south end of the Llama deposit on section 4975N and intercepted multiple broad zones of high grade mineralization associated with the thickened fold hinge of the iron formation. Results from the hole include 15.16 g/t Au over 36.40m and a second mineralized zone grading 7.15 g/t Au over 41.05m. This hole confirms the presence of a high grade mineralized core at Llama that has a shallow plunge to the southwest. Drillhole 12GSE153 collared approximately 50m north of hole 141 on section 5025N intersected 21.58 g/t Au over 12.90m and drillhole 12GSE152 on section 5225N collared approximately 200m north of hole 153 intersected 8.58 g/t Au over 20.00m. These strong drill holes are amongst some of the best holes drilled at Llama and are situated within the current pit shell. With the new tighter drill spacing, a continuous high grade gold bearing antiform structure is being defined that should expand the overall resource. Previously, most of the high grade resource was thought to be located largely on the west limb. "We are off to a very good start in our 2012 campaign," said Rob Pease, President & CEO. "The Llama deposit has been challenging to expand, as it has a complex structure marked by faulting and displacement of the host iron formation to the south. We have been working diligently to interpret the deposit and these drill results seem to indicate that we are on the right track. While there is still much more work to be done at Llama, it is important to note the high-grade reported which continues to demonstrate the strong grade and widths of the deposits at Back River. We anticipate that the Llama resource will be enhanced with this drilling. We are also excited about the new discovery targets we have identified at Goose, George, Wishbone and Boulder. We look forward to a continuing stream of news flow as our drill results continue to come in." At Llama, time sensitive lake ice based drilling will continue to follow-up on the strike and depth extensions of the Llama mineralization using two drills focusing on the higher grade antiformal structure as well as required infill drilling to upgrade resource categories.