VANCOUVER, British Columbia, March 31, 2022 (GLOBE NEWSWIRE) -- Sabre Gold Mines Corp. (TSX: SGLD, OTCQB: SGLDF) (“Sabre Gold” or the “Company”) is pleased to announce a key addition to its management team as well as further positive underground drilling results at its 100% owned Copperstone gold project located in Arizona, United States.
Management Team Appointment
Sabre Gold is very pleased to announce the addition of Mr. Sid Tolbert as Vice President, General Manager to the management team.
Giulio Bonifacio, President & CEO stated: “We are very pleased to have Mr. Tolbert join Sabre Gold as a key addition to our management team. Mr. Tolbert brings a wealth of underground mining and management experience to the team while remaining focused on safety and efficient operations. We look forward to working with Mr. Tolbert as we advance the Copperstone gold project into production in the near term.”
Mr. Tolbert is a mining engineer with more than 30 years of experience focused on underground operations and engineering. Mr. Tolbert has held various Mine Manager and General Manager positions with Hecla Mining Company and Klondex Mines Ltd. Mr. Tolbert was instrumental in advancing Klondex’s Fire Creek Mine from an exploration stage project to an operating mine. While at Fire Creek Mr. Tolbert optimized mining operations by changing the mining method to better fit the narrow character of the ore. He led the transition from long-hole stoping to cut and fill and shrink stoping where he reduced costs by an average of 40% per ounce, increased production, and reduced dilution, all maintaining a keen focus on safety with an exceptional safety record. Prior to Klondex, Mr. Tolbert worked at Newmont Mining for fourteen years starting as an underground miner before achieving his engineering degree and advancing to Superintendent for the Midas Mine and Vista Project. He holds Mining Engineering degree from the Haileybury School of Mines and is a certified Project Management Professional.
Drill Result Highlights
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Mike Maslowski, Vice President of Technical Services and Exploration of Sabre Gold stated: “Drilling results continue to confirm the high gold and thickness continuity alone strike and dip for these areas. The results also indicate strong potential for the D Zone to extend further north than previously anticipated. New drill platforms developed further north than any existing underground access is required and being designed to provide proper drill angles to define the northern extents of the D Zone. This phase of drilling is complete and will now be used to develop initial detailed mine plans for these areas.”
Assay results for the underground drill program have been received on the final holes from the 2021 drill program. Holes were drilled from eight drill stations targeting the D zone and two stations targeting the C Zone.
The results on the final holes from various drill stations in Panel 2 of the D zone continued to show the high-grade gold continuity across the shear zone with the drill holes spaced 6 to 8 meters apart. 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 |
| P2D47 includes | 19.8 19.8 | 24.4 21.3 | 4.6 1.5 | 16.9 47.6 | 3.6 1.2 |
| P2F06C includes | 9.1 9.8 | 12.5 10.6 | 3.4 0.8 | 5.4 17.8 | 3.2 0.8 |
| P2C32 | 16.8 | 21.3 | 4.6 | 8.4 | 3.6 |
| P2C36 | 18.3 | 19.8 | 1.5 | 29.1 | 1.2 |
| P2G69 | 4.6 | 7.6 | 3.0 | 7.9 | 2.6 |
| P2G73 includes | 4.6 4.6 | 7.6 6.1 | 3.0 1.5 | 9.5 16.4 | 2.7 1.3 |
| P2H101 | 4.6 | 7.6 | 3.0 | 9.0 | 1.7 |
| P3B03C Includes and | 4.3 5.9 9.1 14.5 17.7 | 6.9 6.9 10.6 16.0 19.2 | 2.6 0.9 1.5 1.5 1.5 | 14.2 30.6 7.7 6.8 3.8 | 2.3 0.8 1.4 1.4 1.4 |
(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/9823f0cc-5657-4dee-ae02-2658080b3702
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
