SILVER STUDY: Sabina encouraged by Hackett River numbers

NUNAVUT — Sabina Gold & Silver of Vancouver has completed a positive preliminary economic assessment...

NUNAVUT — Sabina Gold & Silver of Vancouver has completed a positive preliminary economic assessment (PEA) for its Hackett River silver project 75 km south of Bathurst Inlet. The new study updates a 2007 report and is "very encouraging" said company president and CEO Tony Walsh.

 

The company is considering a 12,000-t/d operation with a 16-year mine life. Annual output is estimated to be 13.0 million oz of silver, 349.7 million lb of zinc, 24.6 million lb of copper, 44.6 million lb of lead, and 20,000 oz of gold. The preproduction capital spending estimate is $668.0 million. On-site costs per tonne of ore mined will be $53.40, and additional off-site costs per tonne of concentrate will be $135.86. The project would generate an internal rate of return (IRR) of 25.9% in the base case scenario.

 

The Hackett River property has four exploitable deposits: East Cleaver, Boot Lake, Main zone and Jo zone. Sabina has developed pit designs for all four of them. The Boot Lake deposit also has the potential to be mined underground using sublevel caving techniques.

 

Indicated open pit resources total 26.5 million tonnes at 4.43% Zn, 126.53 g/t Ag, 0.41% Cu, 0.60% Pb and 0.29 g/t Au. Indicated resources that could be mined using underground methods total 17.2 million tonnes at 3.71% Zn, 132.16 g/t Ag, 0.24% Cu, 0.55% Pb and 0.23 g/t Au. Additional inferred resources are estimated to be 5.9 million tonnes in the open pits and 10.1 million tonnes underground.

 

Sabina's most recent corporate presentation is available at www.SabinaGoldSilver.com.

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