We have observed sub-Poissonian spin correlations generated by collisionally induced spin mixing in a spin-1 Bose-Einstein condensate. We measure a quantum noise reduction of -7 dB (-10 dB corrected for detection noise) below the standard quantum limit (SQL) for the corresponding coherent spin states. The spin fluctuations are detected as atom number differences in the spin states using fluorescent imaging that achieves a detection noise floor of 8 atoms per spin component for a probe time of 100 $\mu$s. Comment: 5 pages, 4 figures