Tous Actualités
Suivre
Abonner Sabina Resources Limited

Sabina Resources Limited

Sabina Update; Up to 2.09 oz Gold Over 2.26m in High Grade Zone at Follansbee, Red Lake

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 follow-up drilling on
the South Contact Zone on the Follansbee Property at Red Lake,
Ontario. These complement today's news from Wolfden's adjacent
Bonanza Property along strike and confirm the discovery of a new gold
deposit in Red Lake. Hole SWF-05-24 returned a high-grade interval of
71.72 g/t gold (2.09oz/short ton) over 2.26m within a mineralised
section grading 12.00 g/t over 15.57m from 324.43 to 340.00m
downhole. The assay interval was drilled below a high grade
intersection in SWF-05-08 previously reported (Sabina and Wolfden hit
1.53 oz/ton gold over 3.1 m at Red Lake; Feb 9, 2005). Recent
drilling has encountered high grade gold mineralisation within a
plunging shoot formed by a number of crosscutting structures
identified in core, geophysics and surface mapping in the South
Contact Zone. Certain gold intersections drilled to date within the
shoot form a linear pattern on a high-grade mineralised structure
within the shoot. These include:
  • 52.67 g/t Au over 3.10m (SWF-05-08)
  • 39.31 g/t Au over 0.3m (SWF-05-13)
  • 15.35 g/t Au over 0.33m (SWF-05-17A)
  • 9.949 g/t Au over 1.50m (SWF-05-18)
  • 71.72 g/t Au over 2.26m (SWF-05-24).
Visible gold mineralisation has been noted over a down plunge
distance of 200m within this structure and other portions of the
shoot to date. The key structure is open to depth and shows potential
for additional high-grade gold mineralisation as drilling continues.
The relatively near-surface Follansbee South Contact Zone
mineralisation is similar to other mineralisation in the Red Lake
Gold Camp, which is world renowned for the occurrence of steeply
plunging, structurally controlled, very high grade gold
mineralisation that may extend to great depth. Today's results from
the Follansbee Property complement recent news from Wolfden's
adjacent Bonanza Property (June 20, 2005) along strike to the
southwest and confirm the discovery of a new gold system in the Red
Lake Gold Camp. Assays for Phase 2 holes to date, SWF-05-12 to
SWF-05-24, are summarised in the following table (SWF-05-12 to
SWF-05-14 previously reported May 3, 2005(x)):
    Hole Number   Interval (m)         Assay    Core       Vertical   Visible
                                      (g/t Au)  Width (m)  Depth (m)  Gold
    SWF-05-12(x)  285.72 to 307.00      3.825     21.29        225       Yes
                  (incl. 8.382 g/t over 3.29m,
                  including 16.6g/t over 1.0m)
    SWF-05-13(x)  291.63 to 302.55       5.85     10.92        175       Yes
                  (incl. 10.076 g/t over 5.30m with
                  21.55g/t Au/1.45m and 39.31g/t Au/0.3m)
    SWF-05-14(x)  No significant values
    SWF-05-15     Abandoned due to excessive deviation near surface
    SWF-05-16     293.50 - 298.30       1.505      4.80        225       No
                  298.68 - 300.2        1.449      1.52                  No
                  301.50 - 304.30       2.338      2.80                  No
    Including     303.50 - 304.30       4.744      0.80                  No
                  306.70 - 307.00      11.917      0.30                  No
    SWF-05-17A    360.00 - 370.84       2.103     10.84        275       Yes
    Including     363.90 - 364.23      15.357      0.33                  Yes
    SWF-05-18     403.50 - 409.68       2.702      6.18        350       No
    Including     405.00 - 407.30       4.830      2.30                  No
                  415.28 - 416.50       1.643      1.22                  No
                  417.60 - 422.00       4.982      4.40                  Yes
                                                (incl. 9.949
                                                g/t Au/1.5m)
    SWF-05-19A    No Significant Values
    SWF-05-20     346.60 - 348.55       4.470      1.95        300       Yes
    Including     347.05 - 347.65       6.357      0.60                  Yes
    and           348.06 - 348.36       4.327      0.30                  Yes
    SWF-05-21     284.25 - 295.00       2.025     10.75        200       Yes
    Including     288.00 - 288.85       6.036      0.85                  Yes
    and           288.55 - 288.85      10.342      0.30                  Yes
    and           293.00 - 293.50      11.633      0.50                  Yes
    SWF-05-22A    Logging in progress
    SWF-05-23     Logging in progress
    SWF-05-24     324.43 - 340.00      12.000     15.57        265       Yes
    Including     331.94 - 334.20      71.715      2.26                  Yes
    and           331.94 - 333.00     142.404      1.06                  Yes
The Follansbee South Contact Zone envelops a pyrrhotite-rich
sulphide horizon containing arsenopyrite and specks of visible gold,
at or near the contact between conglomeratic metasediments of the
Bruce Channel assemblage and older mafic metavolcanic rocks of the
Balmer assemblage. This geological setting is stratigraphically
similar to that 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 that presently has two drills
operating and for which a resource estimated is presently being
calculated. Sabina is debt free and has a strong treasury.
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 release.
Visit our web site at www.sabinaresources.ca

Contact:

Abraham Drost, Phone: +1-807-766-1799, Fax: +1-807-345-0284, Email:
info@sabinaresources

Plus de actualités: Sabina Resources Limited
Plus de actualités: Sabina Resources Limited