Sabina Silver wird zu Sabina Gold and Silver

•In September, the Company announced an updated resource estimate for the Goose deposit on the Back River project.  This reinterpretation of the deposit as an open pit increases the contained ounces of gold by 358,000 ounces.  The new 43-101 compliant resource consists of an Indicated Resource of 7.7 million tonnes grading 4.45 g/t Au for a total of 1.1 million ounces of gold and an Inferred Resource of 0.4 million tonnes grading 3.53 g/t Au for a total of 50,000 ounces of gold.  In addition, there is also an Inferred Resource of 0.6 million tonnes grading 5.81 g/t Au for a total of 106,000 ounces of gold that is available to be mined by underground methods.
•The Company added personnel to the management group in key areas for project development.  Mr. Leon Coetzer was appointed to the position of Vice president, Engineering and Project Development.  Mr. Matthew Pickard was appointed Director of Environment and Community Relations.  Also in September, the Company announced that it had engaged SRK Engineering Ltd. to commence work on a Preliminary Economic Assessment ("PEA") of a gold mining operation at Back River.
Subsequent to the quarter, on October 4, 2011 the Company announced the closing of the sale of its Hackett River project and certain Wishbone claims to Xstrata Canada Corporation, Xstrata Zinc Canada Division ("Xstrata"). Xstrata deposited $50 million in escrow pending registration of land transfers and transfers of associated licenses and permits for which the Company has received all required consents.  On November 14, 2011, all transfers were completed and the Company received the $50 million from escrow. In addition, the Company has retained a silver royalty equal to 22.5% of the first 190 million ounces of payable silver from the current resource at Hackett River and other properties and 12.5% of all payable silver from the Properties thereafter at no future cost to Sabina.

Also subsequent to the quarter, on October 24, 2011, the Company announced the retirement of Tony Walsh as president and CEO and the appointment of Rob Pease, P.Geo as his successor.

Financial Results

For the three month period ended September 30, 2011, the Company reported a net loss of $2.6 million compared to a loss of $3.6 million in 2010.  The loss in Q3 2011 was lower than the same period last year as a result of a lower deferred income tax expense and higher interest income partially offset by increased amortization of the flow-through premium.

Operating expenses in Q3 2011 were $1.0 million as compared to $0.9 million in 2010, higher by $0.1 million due primarily to higher share based payment costs, which increased by $153 thousand. Share based payment costs increased due to a higher fair value in Q3 2011 than in the comparable period in 2010 and resulted primarily from a higher underlying share price.  The number of share based payments granted or vested in the period did not change materially from 2010.

The Company had cash and cash equivalents and short-term investments of $119.8 million at September 30, 2010 compared to cash and cash equivalents of 82.8 million at December 31, 2010.  

For the full September 30, 2011 financial statements and Management's Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com.

SABINA GOLD & SILVER CORP

The majority of the resource additions are a result of expansion drilling at the Umwelt deposit, which was extended along strike to over 1.14km and 1.5km down plunge in 2011. Drilling in 2011 increased the size of Umwelt and also established its continuity. Towards the end of the drilling season, deeper drilling at Umwelt identified a new G2 zone (Good Grade, Good Width). The G2 zone is a thicker higher grade zone at depth which is still open and has great potential to keep adding to the resource.

New Umwelt Resource Estimate


Umwelt Inside Whittle Shell    
Classification Grade
cut-off Tonnage Au Au
 tonnes g/t ounces
Indicated 2.0 g/t 5,441,800 5.56 973,500
1.0 g/t 6,532,100 4.89 1,026,000
0.53 g/t 7,007,200 4.61 1,037,800

Inferred 2.0 g/t 829,600 5.01 133,500
1.0 g/t 1,159,600 4.00 149,300
0.53 g/t 1,444,800 3.37 156,500

   
Umwelt Outside Whittle Shell    
Classification Grade
cut-off Tonnage Au Au
 tonnes g/t ounces
Indicated 3.0 g/t 3,179,800 6.40 653,900
2.0 g/t 4,407,400 5.31 751,900

Inferred 3.0 g/t 2,866,000 5.97 550,400
2.0 g/t 4,328,100 4.78 665,100



While drilling at the Llama deposit at the Goose claim block did extend the Llama deposit, the structure remains complex and the ounces added were not material enough to support a new resource calculation. The Llama deposit also remains open with many areas to be tested in 2012.

Back River Resource Estimate -- November 2011


Classification Location Tonnes Au (g/t) Ounces Au

Open Pit Indicated Goose 7,697,000 4.45 1,101,000
Llama 1,860,000 9.41 562,000
Umwelt 6,532,000 4.89 1,026,023
Total Open Pit Indicated  16,089,000 5.20 2,689,023

Underground Indicated Umwelt 4,407,000 5.31 751,900
George 1,838,000 10.00 590,000
Total Underground Indicated  6,245,000 6.69 1,341,900

Total Indicated OP + UG  22,334,000 5.62 4,030,923

Open Pit Inferred Goose 436,000 3.53 50,000
Llama 981,000 5.71 180,000
Umwelt 1,160,000 4.00 149,300
Total Open Pit Inferred  2,577,000 4.57 379,300

Underground Inferred Goose 570,000 5.81 106,000
Umwelt 4,328,000 4.75 665,100
George 2,563,000 10.50 866,000
Total Underground Inferred  7,461,000 6.81 1,637,100

Total Inferred OP + UG  10,038,000 6.23 2,016,400



Notes:
1. CIMM definition standards were followed for Mineral Resources
2. The Qualified Person for the Goose, George and Llama Mineral Resource estimates is Doug Cater P. Geo., Project Manager, Sabina Gold & Silver Corp.
3. The Qualified Person for the Umwelt resource estimate is Wayne Barnett, Pr.Sci.Nat, SRK Consulting (Canada) Inc
4. Mineral Resources for Goose are estimated at a pit discard cut-off grade of 0.70 g/t Au ( Goose) and a 0.76 g/t Au ( Llama) and 90% recovery at an average long term gold price of US$1300 per ounce (Goose) and US$1200 per ounce ( Llama). Pit optimizations were used to constrain the resources.
5. The Umwelt drill hole database contains 120 surface diamond drill holes at approximate spacings of 25m , 50m and 100m. Mineral resources for Umwelt are estimated at a pit discard cut-off grade of 0.53g/t Au using an average long term gold price of US$1360 per ounce. Resources outside of the pit are estimated using a cut-off grade of 1.75 g/t Au. Resources as reported utilize a slightly higher cut-off for Umwelt of 1.0 gm/t for potential open pit and 2.0 gm/t for potential underground resources
6. .
7. A 5 g/t Au Cut-off grade was used to calculate the George resource estimate.
8. Numbers may not add due to rounding.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

The Qualified Person under NI 43-101 is Doug Cater, Project Manager for Sabina Gold & Silver Corp, who has approved this release as it applies to the Llama, Goose and George mineral resource estimates.

The Qualified Person under NI 43-101 is Wayne Barnett (Pr.Sci.Nat.) of SRK Consulting (Canada) Inc, who has approved this news release as it applies to the Umwelt mineral resource estimate.

2012 BUDGET & PLANNING

In 2011, the Company spent approximately $30 million on Back River and $10 million on Wishbone and completed approximately 74,000 metres (Goose + George were 61,600m and Wishbone was ~ 11,700m) of drilling combined. While the majority of work focussed on expanding and extending the existing deposits on the Goose claim block, work was also directed at finding new deposits on the George claim block as well as at the gold prospects on Wishbone. The Company was successful in identifying approximately nine new discoveries on the properties all of which will be evaluated in the off season to determine their potential for growth into large open pit deposits.

The Company intends to continue aggressive and disciplined exploration in 2012 on the Nunavut properties, with the goal to further expand resources, drill test new discoveries, and continue exploration for new prospects.

As announced previously, the Company has hired a Vice-President, Engineering to push engineering studies forward, as well as a Director of Environmental and Community relations to oversee the permitting process. Development work in 2012 will focus on baseline studies and in-fill drilling to push the deposits towards development. The detailed budget for 2012 is being developed, however it is anticipated that spending will be increased from 2011 levels.

SABINA GOLD & SILVER CORP.

Der mögliche Kanzlerkandidat Peer Steinbrück schwor seine Partei auf einen pragmatischen Kurs ein: "Wir müssen der Versuchung widerstehen, den Menschen mehr zu versprechen, als wir halten können". Sonst koste das Glaubwürdigkeit und die SPD liefere dem politischen Gegner unnötig Munition, sagte der Ex-Finanzminister.


Steinbrück warnt vor hohen Steuern
"Die SPD ist die Partei, die das Bündnis zwischen den Starken und den Schwachen organisieren muss", forderte Steinbrück. Der 64-Jährige bekannte sich klar zu einem gesetzlichen Mindestlohn. "Wer sein Geschäftsmodell auf Niedriglöhnen aufbaut, hat kein Geschäftsmodell." Er setzte sich auch für eine bessere Bezahlung von Frauen ein. Seine Rede wurde aber von den Delegierten verhaltener aufgenommen, als etwa der Auftritt des Parteivorsitzenden Gabriel am Montag.

Steinbrück hatte vor einer zu starken steuerlichen Belastung Besserverdienender gewarnt. Die Starken dürften nicht verprellt werden, sagte der Anwärter auf die SPD-Kanzlerkandidatur vor den Delegierten. Auch SPD-Fraktionschef Frank-Walter Steinmeier wandte sich gegen die Beibehaltung der Reichensteuer. Die Sozialdemokraten müssten "in der Lage sein, die Menschen auch außerhalb der SPD mit auf den Weg zu nehmen", sagte er. "Lasst uns nicht überziehen."




06.12.2011 16:01
mit Material von dpa

Die Korrekturbewegungen der Edelmetalle dürfte sich jetzt einem Ende nähren und 2012 sollte neue Höchststände mit sich bringen. Ich hatte das Vergnügen Alf Field beim kürzlich stattfindenden Gold Symposium in Sydney kennenzulernen. Beide waren wir neben Eric Sprott, John Embry und Ben Davies Redner auf der Konferenz. Alf ist einer der wenigen – wenn nicht sogar der einzige Mensch auf der Welt, der weiß wie Elliott-Kurven auf den Goldchart angewendet werden müssen.  Alf´s Zielgröße liegt bei mindestens $4500 und der Anstieg dort hin könnte sehr steil ausfallen. Das würde natürlich einen Silberpreis von $150 hinterher ziehen. Diese technischen Vorhersagen gehen natürlich mit den Fundamentaldaten in diesem Artikel konform.



Die Welt ist in einem Endstadium und es gibt keine Lösung für diese historisch einzigartige Krise. Die hyperinflationäre Depression wird uns in den nächsten Jahren treffen und schuldbasierten Wohlstand zerstören – auch wenn er über Jahre hinweg „erwirtschaftet“ wurde.



Um Wert zu erhalten und Kapital dienlich zu gestalten, ist es essentiell einen Großteil des Investments in außerhalb des Bankensystems gelagerte Edelmetalle zu stecken. Wer nicht bald handelt und sich an konventionelle Weisheiten klammert, wird traurig erkennen, dass diese Strategie weder konventionell noch weise ist.

goldswitzerland.com



Ich habe den DAX-CRASH um 2.500 Punkte vorhergesagt...?!