VANCOUVER, British Columbia, March 01, 2022 (GLOBE NEWSWIRE) -- Sabre Gold Mines Corp. (TSX: SGLD, OTCQB: SGLDF) (“Sabre Gold” or the “Company”) is pleased to announce continued positive underground drilling results at its 100% owned Copperstone gold project located in Arizona, United States.
Mike Maslowski, Vice President of Technical Services and Exploration of Sabre Gold stated: “We have now received further assays which continue to show better than expected continuity of the mineralized shear zone with extremely positive grades that will prove helpful as we moved to mine design and scheduling”
Drilling Highlights Include:
- RC P6F58 4.6 m at 26.9 g/t including 3.0 m at 38.5 g/t
- RC P2E93 6.0 m at 15.5 g/t including 3.0 m at 26.5 g/t
- RC P2C26 3.0 m at 19.7 g/t
- RC P2A06 3.0 m at 18.6 g/t
- RC P2C34 3.0 m at 19.7 g/t
- RC P2C29 3.0 m at 15.0 g/t
Assay results for the underground reverse circulation (“RC”) drill program have been received on 67 out of the 83 RC holes sampled and submitted with further assays results pending.
Holes were drilled from eight drill stations targeting the D zone and two stations targeting the C Zone. Complete results have been received on two stations for the Zone D and partial results on the remainder. The results continue to show good strike and dip continuity of the zones thickness and gold grade. As anticipated, local high-grade intercepts ranging from 10.0 g/t to 30.0 g/t gold have been returned from various holes across the drill fans. Drill station location and drill cross sections showing the drill holes follow in this release.
Table 1: Underground RC Drilling
Drill Hole | From (meters) | To (meters) | Length Interval | Au Gram/tonne | True Thickness2 |
| P6F58 includes | 27.4 27.4 | 32.0 30.4 | 4.6 3.0 | 26.9 38.5 | 2.1 1.4 |
| P6E40 | 38.1 | 44.1 | 6.0 | 16.2 | 3.1 |
| P2A05 | 22.9 | 27.4 | 4.5 | 4.4 | 2.0 |
| P2A06 | 21.3 | 24.3 | 3.0 | 18.6 | 1.5 |
| P2A07 | 19.8 | 22.8 | 3.0 | 6.1 | 1.0 |
| P2B12 | 18.3 | 21.3 | 3.0 | 9.1 | 2.0 |
| P2B20 includes | 13.7 13.7 | 16.7 15.2 | 3.0 1.5 | 13.5 24.8 | 2.8 1.4 |
| P2C26 | 29.0 | 32.0 | 3.0 | 19.7 | 1.9 |
| P2C29 | 13.7 | 16.7 | 3.0 | 15.0 | 2.5 |
| P2C34 | 13.7 | 16.7 | 3.0 | 19.7 | 2.8 |
| P2E93 includes | 24.4 24.4 | 30.4 27.4 | 6.0 3.0 | 15.5 26.5 | 3.2 1.6 |
(1) Au grades herein are reported as uncapped values.
(2) Estimated perpendicular distance between footwall and hanging wall of the mineralized interval.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0e3db70-35dc-4722-910a-7be663616404
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbdde2f3-fde9-4de5-bb84-15cb7807ad4c
The technical information in this news release has been reviewed and approved by Michael Maslowski, CPG, a qualified person as defined by National Instrument 43-101 and is employed by the company as its Vice President, Technical Services & Exploration.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at an ISO Accredited assay laboratory. Drill hole samples to be assayed are securely stored for shipment, with chain of custody documentation through delivery. Mineralized commercial reference standards or blank standards are inserted approximately every 20th sample in sequence and results are assessed to ascertain acceptable limits for analytical variance. Duplicate samples will also be taken as a further check in lab precision and accuracy. All results will be analyzed for consistency and corrective actions taken, if needed.
ABOUT SABRE GOLD MINES CORP
Sabre Gold is a diversified, multi-asset near-term gold producer in North America which holds 100-per-cent ownership of both the fully permitted Copperstone gold mine located in Arizona, United States, and the Brewery Creek gold mine located in Yukon, Canada, both of which are former producers. Management intends to restart production at Copperstone followed by Brewery Creek in the near term. Sabre Gold also holds other investments and projects at varying stages of development.
Sabre Gold’s two advanced projects have approximately 1.5 million ounces gold in the Measured and Indicated categories, and approximately 1.2 million ounces gold in the Inferred category. Additionally, both Copperstone and Brewery Creek have considerable exploration upside with a combined land package of over 230 square kilometers that will be further drill tested with high-priority targets currently identified. Sabre Gold is led by an experienced team of mining professionals with backgrounds in exploration, mine building and operations.
For further information please visit the Sabre Gold Mines Corp. website (www.sabre.gold).
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking information under Canadian securities legislation including statements regarding drill results, potential mineralization, potential expansion and upgrade of mineral resources and current expectations on future exploration and development plans. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to: the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; reliance on third parties, exploration risk, failure to upgrade resources, the degree to which mineral resource and reserve estimates are reflective of actual mineral resources and reserves; the degree to which factors which would make a mineral deposit commercially viable are present, and the risks and hazards associated with underground operations and other risks involved in the mineral exploration and development industry. Risks and uncertainties about Sabre Gold’s business are more fully discussed in the Company’s disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Sabre Gold assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
For further information please contact:
Sabre Gold Mines Corp.
Giulio Bonifacio
President & Chief Executive Officer
gtbonifacio@sabre.gold
