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Sabina: Surface Channel Sampling Gold Results at Follansbee Red Lake Confirm Continuity of Drill Results to Surface
Thunder Bay, Ontario (ots/PRNewswire) -
- Shares Issued: 36,524,244
Sabina Resources Limited (TSX-V:SBB) is pleased to announce that surface sampling and diamond drilling results to date show consistent gold assay results and continue to intersect significant gold grades in several sub-parallel zones identified on the Company's 60% owned Follansbee Joint Venture Property (40% Wolfden Resources Inc. TSX:WLF) in the Red Lake Mining District. The near surface, bulk tonnage gold deposit model emerging at Follansbee adds a new dimension to future production possibilities in the Red Lake gold camp.
Recent surface channel sampling on a mechanically stripped outcrop area on the Follansbee Property returned an interval of 3.01 g/T gold over 12. 95m (95% true width) where exposed on surface, including a higher grade interval of 4.45 g/T gold over 6.60m. The surface mineralization is situated approximately 50m east and up-dip from Sabina's previously reported intersection of 5.05 g/T gold over 34.95m in Hole SWF-05-20 (July 11, 2005). Recent extension of Hole 05WB-27 into a horizon 250m west of the surface sampling, also obtained a composite interval of 8.66 g/T gold over 22m (true width estimated at 50-70% of core interval) in a similar horizon. The surface sampling is also located 250m east of a drill intersection of 2.15 g/T gold across 82.55m (Hole 05WB-06) in a similar horizon on the Follansbee Property (previously reported July 11, 2005).
The horizon of interest is called the "Conglomerate Zone" and consists of mineralized, silicified conglomeratic metasediments in contact with silicified greywacke rocks wholly contained within a sedimentary sequence and is believed to represent one of least three potentially bulk-mineable zones on the Follansbee Property.
Newly exposed silicified and sulphide mineralized rocks have also been observed in outcrop for over 200m to the northeast. Pressure washing, detailed geological mapping and systematic channel sampling are in progress. Two drills are currently drilling onto the Follansbee Property and a drill proposal is being prepared to infill the Conglomerate Zone on 50m centres to verify continuity and grade characteristics.
Drilling to date has intersected gold mineralization in additional horizons over a strike length of more than 500 meters across the Follansbee and adjacent Bonanza Property (100% Wolfden). These are referred to as the "Sulphide" and "Silicified" Zones, interpreted to be sub-parallel fault controlled horizons displaying both vertical and horizontal continuity both on the Follansbee JV Property and the Bonanza Property. Both horizons contain significant widths of near-surface mineralization in addition to evident shoots of higher-grade gold mineralization such as that previously reported by Sabina (June 20, 2005), suggesting good potential to develop a "bulk tonnage" gold deposit at Follansbee and Bonanza with very favorable gold grade characteristics. Mineralization remains open both along strike and down dip.
Gold mineralization at Follansbee and Bonanza occurs along the main Red Lake "Mine Trend" in a major east-west shear/alteration zone, proximal to a contact phase between Bruce Channel sediments and Balmer Assemblage volcanics containing ultramafic rock units. High-grade gold in the Red Lake Greenstone belt is often found in high strain zones proximal to ultramafic rock units. Ultramafic rock units have been intersected on the Bonanza and Follansbee Properties. Red Lake is world renowned for deep high-grade gold, with Placer Dome's Campbell Gold Mine and Goldcorp's Red Lake Mine, located approximately 3 km to the east of Follansbee Property.
Diamond drill core at Follansbee has been split, with half the core retained at secure facilities in Red Lake and half sent to Accurassay Laboratories, Thunder Bay for fire assay with atomic absorption finish. Mr. David S. Hunt, P.Geo., is the qualified person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
A recent assay highlights plan from the Follansbee and Bonanza properties may be viewed at www.sabinaresources.ca/documents/property- july22-2005- FollansbeeBonanzaRedLake.pdf.
Sabina Resources Limited is a Canadian public mineral exploration and development company with assets in the Red Lake gold camp and at the Hackett River silver and zinc-rich base metal property in Nunavut. Sabina is debt free and has a strong treasury. Given the strength of its asset mix, Sabina's objective is the addition of significant value through active exploration.
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 Exchange does not accept responsibility for the accuracy or the adequacy of this release.
Visit our web site at www.sabinaresources.ca
ots Originaltext: Sabina Resources Limited
Im Internet recherchierbar: http://www.presseportal.ch
For further information: please contact: Abraham Drost, P.Geo.,
President, 309 Court Street South, Thunder Bay, Ontario, Phone:
+1(807)-766-1799, Fax: +1(807)-345-0284, Email:
email@example.com, Visit our web site at www.sabinaresources.ca