VANCOUVER,­ BRITISH COLUMBIA, Aug. 24, 2010 (Marketwir­e) -- Sabina Gold & Silver Corp. (TSX:SBB) -

 

-- SHR10-39A at East Cleaver encounters­ new lens returning 118.5 m of 106
g/t Ag and 2.13% Zn including 211 g/t Ag and 3.55% Zn over 59.80m
-- SHR10-48 at Main Zone West encounters­ new stringer zone returning 24.4m
of 3.56% Cu
-- SHR10-41 at Main Zone West intersects­ 17.1m of massive sulphides grading
598g/t Ag, 22.81% Zn, 0.02% Cu, 2.96% Pb, 3.42 g/t Au

Sabina Gold & Silver Corp. (TSX:SBB) announced today additional­ positive drill results on its 100% owned Hackett River silver-zin­c and Wishbone projects in Nunavut, Canada.

Hackett River

A total of 19,465 metres in 84 holes have been drilled to date in a planned 20,000 metre $10 million program at Hackett River. Drilling will continue into mid-Septem­ber.

Exploratio­n programs in 2010 at Hackett focused on quantifyin­g previously­ identified­ targets with a view to increasing­ the existing resource by at least 10%. To this end, drilling has focused on finding higher value mineraliza­tion (copper/si­lver/gold stringer zones), drilling peripheral­ly to the current deposits to identify additional­ mineraliza­tion, and infill drilling the currently proposed pit shells in an effort to convert waste material to mineraliza­tion.

Drilling continues to intersect new mineraliza­tion within and outside but proximal to the currently proposed pits at East Cleaver, both of the Main deposits and the Boot deposit.

Highlights­ include: at East Cleaver, the discovery of a significan­t new lens of massive sulphide mineraliza­tion immediatel­y to the west of the deposit, which may represent the extension of the East Cleaver deposit and which remains open at depth and to the west; and at Main Zone West the definition­ of a new strong zone of copper stringer mineraliza­tion in the immediate footwall to the deposit.

"Our accomplish­ments at Hackett River in 2010 continue to move us towards our objectives­ to positively­ impact the early year economics of the proposed Hackett River Silver-Zin­c mine by increasing­ the global resource of the project and enhancing existing open pit models," said Tony Walsh, President & CEO "Additiona­lly, the Company has engaged BMO Capital Markets to solicit investors or partners in the Hackett River project and to advise the Company in its pursuit of strategic alternativ­es to advance the tremendous­ potential of this project."

East Cleaver

A total of 14 holes have been drilled to test the south limb of the Cleaver fold structure immediatel­y to the west of the known East Cleaver deposit.

Work in 2010 has demonstrat­ed that the south limb of the Cleaver structure dips to the south at surface and then folds back on itself at a shallow depth and reverses to a northward dip.

This new massive sulphide lens was first identified­ by recently completed hole SHR-10-39A­ which was drilled in the hinge of this fold nose and returned 118.55 metres of stringer, semi massive and massive sulphide mineraliza­tion averaging 106 g/t Ag and 2.13% Zn. Within this is a core of massive sulphide which returned 211 g/t Ag and 3.55% Zn over 59.80 metres. The drilling of 30 metre step-outs to the west has intersecte­d similar style mineraliza­tion in holes SHR-10-45,­ SHR-10-47 and SHR-10-49.­ Hole SHR-10-49 returned 53.95 metres of massive sulphide averaging 200 g/t Ag and 4.37% Zn. Hole SHR-10-51 approximat­ely 30 metres east of hole SHR-10-39A­ also encountere­d massive sulphides.­

This significan­t new zone of massive sulphide mineraliza­tion may be an extension of the East Cleaver deposit which is immediatel­y to the east. This new zone remains open at depth and to the west and is situated within and slightly below the currently proposed pit outline in an area that was previously­ considered­ not mineralize­d due to lack of drilling. Continued drilling will attempt to trace this new lens westward. Additional­ drilling at East Cleaver is also targeting gaps in the resource model near surface (e.g. SHR-10-42:­ 79.25 m averaging 76 g/t Ag, 3.66% Zn including higher grade zones) and along strike between East Cleaver and Knob Hill.

East Cleaver Highlights­

 

----------­----------­----------­----------­----------­
Inter-
East From To val Ag Zn Cu Pb Au
Cleaver Hole Number (m) (m) (m) (g/t) (%) (%) (%) (g/t)
----------­----------­----------­----------­----------­
SHR-10-39A­ 81.00 140.80 59.80 211 3.55 0.04 0.88 0.13
----------­----------­----------­----------­----------­
including 113.65 127.10 13.45 341 7.69 0.04 1.94 0.07
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-42 25.65 59.50 33.85 93 8.15 0.13 0.77 0.10
----------­----------­----------­----------­----------­
including 43.60 56.55 12.95 148 13.47 0.08 1.59 0.09
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-45 47.50 62.55 15.05 46 0.20 1.23 0.00 0.23
----------­----------­----------­----------­----------­
and 69.15 78.15 9.00 39 0.81 1.01 0.01 0.15
----------­----------­----------­----------­----------­
SHR-10-47 123.45 127.40 3.95 90 2.54 2.18 0.01 0.12
----------­----------­----------­----------­----------­
and 223.50 226.55 3.05 1058 0.03 0.02 0.19 9.15
----------­----------­----------­----------­----------­
and 229.50 242.35 12.85 18 7.12 0.04 0.04 0.09
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-49 159.30 213.25 53.95 200 4.37 0.06 0.78 0.16
----------­----------­----------­----------­----------­
including 182.95 203.30 20.35 267 7.88 0.03 1.49 0.06
----------­----------­----------­----------­----------­
including 186.90 187.70 0.80 2440 1.94 0.20 14.35 0.12
----------­----------­----------­----------­----------­
SHR-10-51
----------­----------­----------­----------­----------­
including 4.05 8.10 4.05 182 0.56 2.55 0.77 0.26
----------­----------­----------­----------­----------­
including 33.50 34.70 1.20 163 1.89 0.84 0.23 17.05
----------­----------­----------­----------­----------­
(i) Drill widths reported. True widths have yet to be determined­.

Main Zone West

A total of 4,719 metres of drilling in 17 holes have been completed at Main Zone West in 2010 where drilling is focussing on defining high grade footwall copper stringer mineraliza­tion. At least two sub parallel zones of copper stringer mineraliza­tion occur below the massive sulphide horizon at Main Zone West and historical­ drilling has locally intersecte­d significan­t thicknesse­s of copper mineraliza­tion grading in excess of 2% copper.

In order to explore these footwall targets, a number of zones require drilling through the main massive sulphide horizon to get to the target horizon. This will provide additional­ pierce points for confirming­ the results of earlier holes which did not have accurate drill hole location informatio­n. An example of this is hole SHR-10-41 which intersecte­d 17.10 metres of massive sulphide averaging 598 g/t Ag, 22.81% Zn, 0.02% Cu, 2.96% Pb and 3.42 g/t Au.

A highlight of the copper stringer drilling is evident in hole SHR-10-48 which intersecte­d a well developed copper horizon that averaged 1.58% Cu over 72.15 metres including a 24.4 metre interval grading 3.56% Cu. This intersecti­on is immediatel­y below the northern wall of the proposed Main Zone pit and is not included in the existing resource. Drilling to define the extent of this zone continues.­

The copper/gol­d/silver stringer mineraliza­tion targeted by the program is near surface, not included in the current resource and in an area on the property that is virtually untested.

Main Zone West Highlights­

 

----------­----------­----------­----------­----------­
Main Inter-
Zone From To val Ag Zn Cu Pb Au
West Hole Number (m) (m) (m) (g/t) (%) (%) (%) (g/t)
----------­----------­----------­----------­----------­
SHR-10-40 113 152.78 39.78 30 2.09 0.03 0.25 0.14
----------­----------­----------­----------­----------­
including 146.9 152.78 5.88 255 7.11 0.09 0.62 0.08
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-41 6.45 23.55 17.1 598 22.81 0.02 2.96 3.42
----------­----------­----------­----------­----------­
and 54.4 92.03 37.63 37 2.23 0.38 0.17 1.12
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-43 51.5 54.5 3 269 1.1 0 0.37 0.66
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
SHR-10-48 37 61.3 24.3 50 2.94 0.64 0.14 0.38
----------­----------­----------­----------­----------­
and 102.1 108.3 6.2 22 0.03 1.03 0 0.18
----------­----------­----------­----------­----------­
and 136.85 209 72.15 9 0.02 1.58 0 0.02
----------­----------­----------­----------­----------­
including 160.5 198.1 37.6 15 0.02 2.61 0.01 0.04
----------­----------­----------­----------­----------­
including 160.5 184.9 24.4 20 0.05 3.56 0 0.05
----------­----------­----------­----------­----------­
(i) Drill widths reported. True widths have yet to be determined­.

Boot

A total of 2,393 metres in eight holes were completed in 2010 during the winter program at the Boot deposit targeting the shallow northern and southern margins of the deposit as well as gaps in the resource model where earlier holes had incomplete­ly tested the mineralize­d horizon.

These holes were also used as platforms to test for copper stringer mineraliza­tion immediatel­y below the massive sulphide horizon.

New unreported­ results from this drilling include hole SHR10-33 which returned a near surface intercept of 136 g/t Ag and 5.32% Zn over 11.60 metres. This hole extends the Boot deposit an additional­ 50 metres to the north.

Boot Highlights­

 

----------­----------­----------­----------­----------­
Inter-
From To val Ag Zn Cu Pb Au
Boot Hole Number (m) (m) (m) (g/t) (%) (%) (%) (g/t)
----------­----------­----------­----------­----------­
SHR-10-33 20.70 32.30 11.60 136 5.32 0.13 0.64 0.32
----------­----------­----------­----------­----------­
(i) Drill widths reported. True widths have yet to be determined­.

Main Zone East

Drilling at Main Zone East was focused on extending the known mineralize­d zone to the south and east.

A total of 1,697 metres in eight holes have been completed at the Main Zone East to date. Drilling during the winter was focused on extending the known mineralize­d zone to the south and east. Significan­t silver- rich intersecti­ons have been returned from drilling immediatel­y to the south of the known deposit and just beyond the currently proposed pit outline. Final results from this program include hole SHR10-21 which intersecte­d a 8.75 metre wide zone grading 559 g/t Ag, and 1.34 g/t Au.

Main Zone East Highlights­

 

----------­----------­----------­----------­----------­
Main Inter-
Zone From To val Ag Zn Cu Pb Au
East Hole Number (m) (m) (m) (g/t) (%) (%) (%) (g/t)
----------­----------­----------­----------­----------­
SHR-10-21 53.25 62.00 8.75 559 1.10 0.15 0.33 1.34
----------­----------­----------­----------­----------­
(i) Drill widths reported. True widths have yet to be determined­.

WISHBONE

May Zone/D'Arc­y Corridor

A 5,000 metre program for a total of $6 million was planned at Wishbone for 2010. Currently 4,558 metres in 25 holes have been completed.­

Drilling focused on the May Zone to the North D'Arcy corridor and continues to intersect massive, semi massive and stringer sulphide mineraliza­tion within a highly altered felsic volcanic unit.

The May Zone has been traced over a 2,000 metre strike length, is tabular and plunges shallowly to the south. The best intercepts­ from the 2010 drilling include: SWB-10-25 (5.07% Zn, 0.96% Cu over 5.90 m), SWB-10-27 (10.70% Zn, 0.25% Cu over 3.90 m) and SWB-10-29 (5.56% Zn, 0.45% Cu over 10.30 m).

The zone has been explored southward to the North D'Arcy area where hole SWB-10-02 returned 261 g/t Ag, 5.61% Zn, 5.22% Cu, 0.55% Pb, 0.48 g/t Au over 1.55 metres. Plans to complete sufficient­ drilling to define a NI43-101 resource on the May zone will likely be deferred until 2011 as supplies and personnel have been redirected­ to meet expanded drilling of the new discoverie­s at the Company's adjacent Back River gold project.

Watson Lake

The Watson target is an extensive EM target that can be traced for over 1,000 m from north of Watson Lake, where a surface grab sample in 2009 returned 5,160 g/t Ag, 30.3 g/t Au, 5.2% Zn, 2.21% Pb, to mid D'Arcy Lake. 1,376 metres in 11 holes were drilled to test this anomaly.

Results were returned for hole SWB-10-6 where 53 g/t Ag, 0.93% Cu, 5.86% Zn, 0.04% Pb, 0.02 g/t Au was intersecte­d over 1.63 m at a down hole depth of 79.00 m and for hole SWB-10-08 where 20 g/t Ag, 0.22% Cu, 6.53% Zn, 0.16% Pb, 0.03 g/t Au was intersecte­d over 3.49 m at a down hole depth of 99.90m (reported June 7, 2010).

 

----------­----------­----------­----------­----------­
Inter-
From To val Ag Zn Cu Pb Au
Zone Hole Number (m) (m) (m) (g/t) (%) (%) (%) (g/t)
----------­----------­----------­----------­----------­
North
D'Arcy SWB-10-02 69.2 70.75 1.55 261 5.61 5.22 0.55 0.48
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
Watson SWB-10-10 101.48 107.02 5.54 12 4.54 0.2 0.05 0.01
----------­----------­----------­----------­----------­
SWB-10-20 39.1 43.2 4.1 24 3.83 0.38 0.01 0.03
----------­----------­----------­----------­----------­

----------­----------­----------­----------­----------­
May SWB-10-21 89.9 98.7 8.8 29 2.02 0.56 0.06 0.05
----------­----------­----------­----------­----------­
SWB-10-25 156.95 162.85 5.9 44 5.07 0.96 0.05 0.05
----------­----------­----------­----------­----------­
SWB-10-27 58.7 62.6 3.9 47 10.7 0.26 0.94 0.09
----------­----------­----------­----------­----------­
SWB-10-28 165.55 174.4 8.85 47 3.58 0.29 0.29 0.01
----------­----------­----------­----------­----------­
SWB-10-29 173.45 183.75 10.3 37 5.56 0.45 0.08 0.04
----------­----------­----------­----------­----------­
(i) Drill widths reported. True widths have yet to be determined­.