NUNAVUT - SABINA RESOURCES of Thunder Bay, Ontario, says its 100%-owned Hackett River project has resources containing 140 million oz of silver plus 1.7 million tonnes of zinc. The figures were included in a report prepared by WARDROP ENGINEERING using drilling results from the 2004 season.
At a zinc-equivalent cut-off grade of 3%, the Boot Lake, East Cleaver and Main zones contain a combined resource of 51.6 million tonnes. This includes an indicated resource of 37 million tonnes with an average grade of 4.66% Zn, 3.79 oz/ton Ag, 0.63% Pb, 0.34% Cu and 0.011 oz/ton Au. The inferred resource totals 14.6 million tonnes with an average grade of 3.62% Zn, 3.61 oz/ton Ag, 0.51% lead, 0.28% Cu and 0.007 oz/ton Au. (Details are contained in the press release dated Aug. 15 available at www.SabinaResources.ca).
The Hackett River project is located 75 km southwest of Bathurst Inlet in Nunavut. Cut the silver content of the deposit by 10 times, and it is equivalent to finding a 14-million-oz gold deposit, according to CMJ's rule-of-thumb. With such high grades, Sabina's results may spark a staking rush.