{"id":391602,"date":"2020-12-02T08:03:20","date_gmt":"2020-12-02T13:03:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=391602"},"modified":"2020-12-02T08:03:20","modified_gmt":"2020-12-02T13:03:20","slug":"sabina-gold-silver-corp-makes-good-progress-on-updated-feasibility-study","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sabina-gold-silver-corp-makes-good-progress-on-updated-feasibility-study\/","title":{"rendered":"Sabina Gold & Silver Corp. Makes Good Progress on Updated Feasibility Study"},"content":{"rendered":"

\nCompletion Targeted for Q1 2021
\n<\/h2>\n
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VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (SBB.T\/SGSVF.OTCQX), (\u201cSabina\u201d or the \u201cCompany\u201d) is pleased to report on the status of the Updated Feasibility Study (\u201cUFS\u201d) on the proposed Goose Mine at its 100%-owned Back River Gold Project (\u201cBack River\u201d or the \u201cProject\u201d) in Nunavut, Canada.<\/p>\n

\u201cWork continues to advance the updated Back River resource estimate and Goose Project UFS for delivery in Q1, 2021,\u201d said Bruce McLeod, President & CEO.\u00a0 \u201cThe significant exploration success we have delivered since the September 2015 feasibility study has been incorporated into the resource estimate and mine plan, along with many other improvements to the Project.\u00a0\u00a0 This work continues to showcase the Goose Mine as a very compelling project: the first of many opportunities on Sabina\u2019s 80km long Back River belt.\u00a0 \u00a0Work continues at site, and we expect to complete our objectives for civil works to enable collaring our exploration decline in the spring of next year.\u00a0 We anticipate mobilizing out of camp in mid December.\u201d<\/p>\n

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\n UPDATED FEASIBILITY STUDY<\/u>
\n <\/strong>\n <\/p>\n

\n Introduction:<\/strong>\n <\/p>\n

The September 2015 feasibility study (\u201c2015 FS\u201d) envisioned a 3,000 tonne per day (\u201cTPD\u201d) mine producing approximately 200,000 ounces a year over an 11.8-year mine life from a series of three open pits and one underground at the Goose site.\u00a0 Since that time, material discoveries and significant resource extensions have been made at the Project, including the two separate high-grade underground zones at Umwelt.\u00a0 Internal studies were undertaken to determine what potential improvement these areas might have to meaningfully increase the production profile and\/or mine life, with a similar or marginally increased throughput, through a combination of open pit and underground mines at the Goose site.\u00a0 The Company is well advanced on the UFS which is expected in early Q1, 2021.\u00a0 The goal for the UFS is to increase gold production on an annual and total life of mine basis, which is expected to improve the overall financial metrics of the Project over the already positive economics demonstrated in the 2015 FS<\/p>\n

\n Resource:<\/strong>\n <\/p>\n

Since the last Back River resource statement was completed, Sabina has drilled over 50,000 meters at the Goose site.\u00a0 This drilling has resulted in several discoveries as well as expansion of the known mineralized horizons at the Project. \u00a0In 2020, exploration and infill drilling focused on areas that could positively impact the mine plan.\u00a0 Due to COVID, drilling to enable conversion to reserves was not achievable in 2020 for all of the new deposit areas.\u00a0 However, the new resource estimates will include updates to: Umwelt; Goose Main; Echo; and new inferred resources from the Nuvuyak and Llama Extension deposits.\u00a0 The George open pit resources will also be updated to reflect current metal price assumptions.<\/p>\n

\n Reserve, Mining methods and Market Studies:<\/strong>\n <\/p>\n

This Exploration success since the 2015 FS has enabled Sabina to re-envision the mine plan in the UFS. \u00a0With early access to the high grade V2 Zone located below the Umwelt open pit, Sabina will add high-grade underground feed to the process plant early in the mine life and recover more higher-grade reserves earlier than envisioned in the 2015 FS.\u00a0 The mine plan will incorporate cut and fill mining methods plus cemented rock in select areas of the interface between the open pit and underground deposits, enabling production from areas previously excluded.\u00a0 The mining sequence in the UFS mine plan compared to the 2015 FS is outlined below.<\/p>\n

Table 1: UFS re-envisioned mine plan relative to the 2015 Feasibility Study<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n Mine Production Plan Sequencing<\/strong>\n <\/td>\n<\/tr>\n
\n 2015 Feasibility Study<\/strong>\n <\/td>\n\n 2021 UFS <\/strong>\n <\/td>\n<\/tr>\n
Umwelt Open Pit<\/td>\nEcho Pit<\/td>\n<\/tr>\n
Llama Open Pit<\/td>\nUmwelt Underground<\/td>\n<\/tr>\n
Goose Open Pit<\/td>\nUmwelt Open Pit<\/td>\n<\/tr>\n
Umwelt Underground<\/td>\nLlama Open Pit<\/td>\n<\/tr>\n
\u00a0<\/td>\nLlama Underground<\/td>\n<\/tr>\n
\u00a0<\/td>\nGoose Main Open Pit<\/td>\n<\/tr>\n
\u00a0<\/td>\nGoose Main Underground<\/td>\n<\/tr>\n<\/table>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/444079fb-dfed-4046-a372-6458768b5b80<\/a>\u00a0<\/p>\n

\n Processing, Test Work and Recoveries:<\/strong>\n <\/p>\n

Since the 2015 FS, Sabina has undertaken additional metallurgical test work programs which have provided better certainty to the process plant design.\u00a0 These programs included: secondary grinding; leach vs flotation; detox; gravity recovery; and tailings and water quality test work.\u00a0 Results have confirmed the process plant operating parameters as well modest improvements to our baseline recoveries for most deposits.\u00a0 The process plant is designed as a traditional 3,000 TPD, primary\/secondary\/tertiary crushing, primary\/secondary grinding, gravity separation, carbon-in-pulp, leach and detox plant.\u00a0 The plant has a design head grade between 6 and 12gpt with the capability to increase through-put in later years.<\/p>\n

\n Infrastructure:<\/strong>\n <\/p>\n

Sabina has made extensive improvements on all aspects of the Project scope.\u00a0 A brief outline of the significant improvements are as follows:<\/p>\n