Sabina Resources Limited

Sabina Resources Limited - Drilling Continues to Expand Bonanza-Follansbee Red Lake Gold Zones - Step-Out Drilling Intersects 29.89g/t Au Across 2.0 Meters

    Thunder Bay, Ontario (ots/PRNewswire) -

    - Shares Issued: 36,524,244

    Sabina Resources Limited (SBB:TSX-V) is pleased to announce an update  from its 60%-owned Follansbee Joint Venture Project (40% Wolfden Resources  Inc. (WLF:TSX)). The Follansbee Property hosts significant gold  mineralization in the Red Lake gold camp. Joint Venture partner Wolfden  reports (August 30, 2005) that recent deep drilling has intersected  multiple zones of silicification and mineralization at depths of up to 500  meters on the adjoining Bonanza Property (100% Wolfden).    Hole 05WB-38,  the furthest step-out hole drilled to the southwest to-date, intersected  29.89g/t Au across 2.0 meters associated with an ultramafic dike.

    Drilling has intersected gold mineralization in multiple horizons over  a strike length of more than 500 meters across the Bonanza and Follansbee  Properties. The primary zones are named the Follansbee, Rahill and Bonanza  Zones. The northerly Follansbee and Rahill Zones, previously referred to as  the "Conglomerate Zone" and the "Silicified Zone" respectively, are  contained primarily within silicified conglomerate/greywacke rock units  containing trace to 10% sulphides. The southerly Bonanza Zones, previously  referred to as the "Sulphide" Zone, is contained primarily within  silicified iron formation and/or argillite rock units containing trace to  20% sulphides. All zones display vertical and horizontal continuity and contain significant widths of near-surface mineralization, suggesting the  potential to develop a "bulk tonnage" gold deposit. Three drills continue  to expand mineralization that remains open both along strike and down dip.

    Drilling continues to intersect broad zones of gold mineralization in a  near-surface setting and narrower, high-grade gold that may be targets for  underground mining. Holes 34 and 35 were drilled to the southwest to better  define an area where a cross-cutting intrusive displaces the gold zones.  The following table provides a summary of new assays received from the  drill program:

@@start.t1@@      -------------------------------------------------------------------------
      Hole         Grid            Dip/      Intersection      Int.      Int.    Au        Au
        No.         Coord-        Azimuth         (m)              (m)        (ft) (g/t) (oz/ton)
                    inates (m)
      -------------------------------------------------------------------------
      05WB-31  350E 975S    -45/360  148.55-160.00  11.45      37.6    2.56    0.07
                      Bo-Incl.                  148.55-150.00    1.45        4.8  11.89    0.35
      -------------------------------------------------------------------------
      05WB-32  250E 1025S  -51/360  278.00-286.00    8.00      26.2    5.22    0.15
                      Bo-Incl.                  279.00-282.00    3.00        9.8    8.29    0.24
                         Fo                         327.00-350.37  23.37      76.7      3.1    0.09
      -------------------------------------------------------------------------
                        Incl.                      337.00-339.00    2.00        6.6      7.6    0.22
                         Fo                         372.12-375.69    3.57      11.7    4.08    0.12
      -------------------------------------------------------------------------
      05WB-33  350E 1050S  -45/360  250.90-303.00  52.10  170.90    2.77    0.08
                    Bo - Incl.                 264.10-267.20    3.10    10.20  14.26    0.42
      -------------------------------------------------------------------------
      05WB-34  050E 1150S  -45/360 No Significant  Assays    Dike
      -------------------------------------------------------------------------
      05WB-35    0E 1200S    -45/360  131.00-135.00    4.00    13.10    1.40    0.04
                                          Zone    displaced by      dike
      -------------------------------------------------------------------------
      05WB-36  250E 1000S  -45/360    24.00-25.36      1.36      4.46    4.01    0.12
                          Bo      Additional  41.00-57.00    16.00    52.49    1.41    0.04
                         Bo-2                        81.00-82.00      1.00      3.28  24.18    0.71
                          Fo                        118.00-141.40  23.40    76.77    3.03    0.09
                         Incl.                    136.00-141.00    5.00      16.4    5.94    0.17
                          Fo                        144.00-153.00    9.00    29.50    3.01    0.09
                          Fo                        167.00-173.00    6.00    19.69    2.42    0.07
                          Fo                              Assays      Pending
      -------------------------------------------------------------------------
      05WB-37  300E 1025S  -45/360      85.00-86.75    1.75      5.74    2.95    0.09
                          Bo      Additional 116.90-120.20    3.30    10.83    2.90    0.08
                          Bo                        138.35-153.10  14.75    48.39    2.50    0.07
                          Fo                              Assays      Pending
      -------------------------------------------------------------------------
      05WB-38  050W 1225S  -45/360  208.00-210.00    2.00      6.56  29.89    0.87
                                    Additional        Assays      Pending
      -------------------------------------------------------------------------
      Fo - Follansbee Zone        Rh - Rahill Zone        Bo - Bonanza Zone@@end@@

    Gold mineralization at Bonanza and Follansbee 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 - to-date, numerous ultramafic rock units have been intersected  on the Bonanza and Follansbee Properties. Red Lake is world renowned for high-grade gold, with Placer Dome's Campbell Gold Mine and Goldcorp's Red  Lake Mine, located approximately 3 kilometers to the east of Bonanza- Follansbee, being two of the highest grade gold mines in the world.

    Core at Bonanza has been split, with half sent to Accurassay Laboratories for fire assay. Wolfden employee Mr. Dave Laudrum, 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.

ots Originaltext: Sabina Resources Limited
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Abraham Drost, P.Geo., President, 309 Court
Street South, Thunder Bay, Ontario, Phone: +1-(807)-766-1799, Fax:
+1(807)-345-0284, Email: info@sabinaresources.ca; Visit our web site
at www.sabinaresources.ca



Weitere Meldungen: Sabina Resources Limited

Das könnte Sie auch interessieren: