Name of the Project
Back River Gold – Goose mine gold project.

Location
Back River district, in Nunavut, in Canada.

Project Owner/s
Sabina Gold & Silver Corp.

Project Description
The Goose mine will produce an estimated 223 000 oz/y of gold for about 15 years.

In the February 2021 updated feasibility study, a mill producing 3 000 t/d for the first two years, increasing to 4 000 t/d in Year 2, was considered.

However, an optimisation plan has since concluded – following the completion of detailed geotechnical testwork on the tailings samples and the inclusion of a high-capacity tailings thickener – that the tailings storage capacity of the project’s Echo openpit has increased sufficiently to allow for the construction of the mill at a 4 000 t/d capacity from the outset.

The current mine plan includes the complete mining of the Echo openpit and seven quarters of mining from the project’s Umwelt openpit during the construction phase of the project.

Consistent with the updated feasibility study, this provides 2.2-million tonnes of stockpiled ore containing 373 000 oz of gold, including 936 000 high-grade tonnes at 8.4 g/t gold before the commissioning of the mill.

In addition, the current mine plan includes an additional 3.5-million tonnes mined in the first three years of operations, allowing for 4 000 t/d of mill capacity without having to increase the mining rate or modify the existing mine plan.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of C$1.1-billion and an internal rate of return of 28%, with a payback of 2.3 years.

Capital Expenditure
Sabina announced in February 2022 that it had completed a comprehensive project financing package for $520-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Sabina Gold & Silver Corp, tel +1 604 998 4175 or email info@sabinagoldsilver.com.