Thunder Bay, Canada (ots/PRNewswire)
- Shares Issued: 36,524,244
Sabina Resources Limited (TSX-V: SBB; 60%) as Operator, together
with its joint venture partner Wolfden Resources Inc. (TSX: WLF;
40%), is pleased to present assays from recent drilling on the South
Contact Zone on the Follansbee Property at Red Lake, Ontario.
Hole SWF-05-20 returned an interval of 5.05 g/T gold (0.147
oz/short ton) over 34.95m, within a larger interval of 4.21 g/T gold
over 45.5m, centered at a shallow vertical depth of 60m in a shallow
drill intersection on the Follansbee Property. Surface trenching,
channel sampling and Phase 3 drilling of the zone and additional
targets will commence immediately. Corrected true widths are 60-70%
of core length. Assay results from additional holes are pending.
The zone appears to be laterally continuous to an intersection
previously reported by Wolfden (June 29, 2005) located 200m west,
which intersected 2.15g/t Au across 82.55m and 2.51g/t Au across
86.00m respectively in the "Silicified Zone" (true widths at 50-60%
of core length). The zone is also subparallel to the high-grade gold
zone on the Follansbee Property from which a mineralized section
grading 12.00 g/t over 15.57m (with 71.72 g/t gold over 2.26m) in
Hole SWF-05-22 was previously reported (June 20, 2005).
Additionally, Wolfden drilling to the southwest has intersected a
third zone, the "Sulphide Zone" which has returned intersections of
2.43g/t Au across 33.65m and 5.31g/t Au across 24.90m respectively.
These gold-bearing zones form a system that has been traced over a
strike length of more than 500 meters across the Bonanza and
Follansbee Properties. Given the evident presence of multiple zones
of relatively shallow gold mineralization on the properties, the
target of future exploration by Wolfden and Sabina will focus on a
"near surface bulk tonnage model".
The various zones of Follansbee mineralization occur in the "South
Contact Zone", dominantly in conglomeratic metasediments at or near
the contact with older mafic metavolcanic rocks of the Balmer
assemblage. The Red Lake Gold Camp is world renowned for the
occurrence of steeply plunging, structurally controlled, very high
grade gold mineralization that may extend to great depth. Today's
results from the Follansbee Property confirm the discovery of a large
new relatively shallow gold system in the Red Lake Gold Camp. The
geological setting is similar to that found at Goldcorp's Red Lake
Mine and Placer Dome's Campbell Mine properties located approximately
3km to the east.
This release has been prepared under the supervision of David S.
Hunt, P.Geo., Qualified Person under the meaning of National
Instrument 43-101. All assays are being performed by Accurassay
Laboratories, Thunder Bay.
Sabina is a Canadian mineral exploration and development company
with investment in a diversified portfolio of advanced stage
exploration properties. This includes the silver and zinc-rich
Hackett River base metal property for which a NI 43-101 compliant
mineral resource estimate is presently being calculated. Sabina is
debt free and has a strong treasury.
ON BEHALF OF THE BOARD OF DIRECTORS Abraham Drost, President
The statements made in this Press Release may contain forward
looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially from
the Company's expectations and projections. The TSX Venture does not
accept responsibility for the accuracy or the adequacy of this
ots Originaltext: Sabina Resources Limited
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Abraham Drost, President, 309 Court Street South, Thunder Bay,
Ontario, Tel: +1-807-766-1799, Fax: +1-807-345-0284, Email:
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