Source: Sabina Gold & Silver Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sabina Gold & Silver (SBB) has reported its second-quarter financial and operational results, highlighting its exploration work at the Goose Project
  • The company ended the second quarter with $48.2 million in cash and short-term investments
  • Operational highlights included the successful completion of a spring drill program at the Goose property
  • Sabina Gold & Silver is a precious metal mining company engaged in exploring and developing mineral properties
  • Shares in Sabina Gold & Silver Corp. (SBB) are steady, trading at $1.62 per share

Sabina Gold & Silver (SBB) has reported its second-quarter financial and operational results, highlighting its exploration work at the Goose Project.

The company ended the second quarter with $48.2 million in cash and short-term investments.

Expenditures included beginning the first phase of a permanent camp complex, mill buildings, construction supplies, winter ice road equipment, and other mobile equipment.

The second quarter ended with a net loss of $1.6 million for the three months ended June 30 and $3.0 million for the previous six months.

Operational highlights included the successful completion of a spring drill program at the Goose property that included over 4,400 metres of drilling in 18 holes.

Additionally, a small geotechnical drilling campaign of 98 meters over 7 holes tested the surface conditions of the planned water management structures.

Bruce McLeod, president and CEO of Sabina, commented on the results.

“Planned exploration drilling for 2021 has wrapped up successfully,” he remarked, “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.”

The Goose Project is located in the Black River Gold District in Nunavut.

Sabina Gold & Silver is a precious metal mining company engaged in exploring and developing mineral properties.

Shares in Sabina Gold & Silver Corp. (SBB) are steady, trading at $1.62 per share as of 12:41 pm ET.

More From The Market Herald
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.

" Durango (TSXV:DGO) closes $515K flow through financing

Durango Resources (DGO) has closed its private placement for gross proceeds of C$515,500.
Tocvan Ventures (CSE:TOC) - CEO, Brodie Sutherland.

" Colibri (CBI) and Tocvan (TOC) report gold discoveries at Pilar Gold & Silver Project

Tocvan Ventures (TOC) and Colibri Resource Corp (CBI) have received drilling results from the Pilar Project.

" Pure Gold Mining (TSXV:PGM) closes $31M non-brokered private placement

Pure Gold Mining (PGM) has closed the final tranche of a non-brokered private placement for total gross proceeds of C$31,086,144.