Great Bear discovers high-grade Arrow zone at Dixie
Hole REG-002 returned three gold-bearing zones along 435.6 metres of core, including 15 metres of 3 g/t gold starting at 451.5 metres, with visible gold in quartz veins.
GHM estimates the project will employ about 500 people and contribute up to $550 million dollars in federal and provincial taxes, $210 million in British Columbia Mining Act tax, and $110 million in municipal taxes.
Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.
Barring a gold price fall, Sabina now has the potential to re-rate its share price and finance the lower-capex Back River, which we believe a major will ultimately snap up.