Sabina won’t share the Sidewalk

Junior explorer Sabina Resources (SBB-V) will buy out the minority interest in its Golden Sidewalk property in Ontario’s Skinner Twp., in the Birch-Uchi Lake greenstone belt.

Sabina will pay $28,000 cash and, subject to Venture Exchange approval, issue 110,000 shares to the vendor, privately owned St. Mary Resources. There are no royalties attached to the property.

Sabina recently did induced-polarization (IP) surveys over the property, which is in the northwestern corner of the greenstone belt, northwest of Woman Lake. The IP showed a 600-metre-long zone of chargeability coincident with the Joe vein, a surface showing with visible gold. Sabina’s earlier channel sampling across the Joe vein returned an average grade of 80.6 grams gold per tonne over 2.4 metres width. Earlier grab samples had graded above 3,000 grams per tonne.

The IP survey also picked out a number of other chargeable zones, which Sabina believes may be deeper structures. More work, with a budget of $600,000, is to start in February.