The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sabina Gold & Silver Corp. Feb. 7 announced a base budget for 2017 of around C$8.5 million, which will be used primarily for permitting activities but will also include some exploration at its Back River gold project in Nunavut.
Late in 2015, Sabina submitted an environmental impact statement for a 3,000-metric-ton-per-day mine focused on Goose, one of several properties that comprise the larger Back River project, for permitting.
The Nunavut Impact Review Board originally recommended not to advance the project through permitting.
After reviewing the recommendation, federal regulators sent the Back River project to NIRB for further consideration.
The review board has now asked Sabina to file a final environmental impacts statement or an addendum to the original EIS as soon as possible.
"The 2017 base budget focuses on maintaining optionality to advance the Back River project towards production while preserving as much of our current treasury as possible while we continue through the environmental assessment process," explained Sabina President and CEO Bruce McLeod.
Exploration will primarily consist of mapping, rock and till sampling and geophysical work at some of the highest value exploration targets across the three properties that make up the expansive Back River project.
Sabina said it may spend an additional C$5 million to drill some of the priority targets on the Goose property and total expenditures for 2017 could be as high as C$25 million for the year, dependent on the timing and success of the permitting process.
The company started off the year with roughly C$40 million.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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