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Goose Lake increases yield

Thandie Vela
Northern News Services
Published Monday, October 3, 2011

KITIKMEOT
Sabina Gold and Silver expects to increase its gold yield at the Goose Lake deposit of the Back River Gold Project, south of Bathurst Inlet, by reinterpreting it as an open pit mine instead of an underground one, a release said. The change means Sabina expects to extract an additional 358,000 ounces of gold.

That's up from the additional underground estimate of 898,000 ounces of gold when the company bought the Goose deposit in June 2009. The extraction requires the approval of the Nunavut Water Board.

Sabina's move to become a mid-tier mining operation was bolstered in September by the hiring of new managers. Geoscientist Matthew Pickard leaves Baffinland to be the director of environment and communications.

New vice-president of engineering and project development Leon Coetzer joins with "extensive background" working at mines in remote locations, including Greenland, Mongolia and Zimbabwe.

"With a solid treasury and a very talented team, we are poised to push towards development while still working to add ounces at our world-class Back River asset," company president and CEO Tony Walsh said.

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