Sabina Gold & Silver Announces Interim Financial Results for the Quarter Ended June 30, 2021
August 13, 2021 at 07:00 AM EDT
VANCOUVER, British Columbia, Aug. 13, 2021 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX/ SGSVF - OTCQX) reports the interim financial results for the six months ended June 30, 2021.
“Sabina had a safe and productive second quarter with strong advancement of Goose site activities and other corporate initiatives,” said Bruce McLeod, President & CEO. “Planned exploration drilling for 2021 has wrapped up successfully and pre-development activities continue with advancement of the Umwelt underground exploration ramp and other site works including road construction and plant and camp laydown preparation. During the quarter, logistics and readiness planning was initiated at the Port facility to execute a significant summer sealift planned for August and September. The team also continued to advance detailed engineering and progress the Project debt process.”
Q2 2021 Highlights:
For the full June 30, 2021 interim financial statements and Management’s Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com or on SEDAR.
SABINA GOLD & SILVER CORP
Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.
Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.
The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.
In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.
For further information please contact:
Forward Looking Information
Bruce McLeod, President & CEO