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Hackett River status

[Galvanizer]

Hackett River, located 45 km west of Sabina’s Back River gold project in Nunavut, is a silver rich volcanogenic massive sulphide project and is one of the largest undeveloped projects of its type.

In 2011, Sabina sold Hackett River to Xstrata Canada Corporation, Zinc Canada Division ("Xstrata") which is now Glencore Canada Corporation ("Glencore").

Sabina received $50 million in cash and retained a significant silver royalty on Hackett River.  Under the terms of the royalty, Sabina is entitled to receive 22.5% of silver production up to the first 190 million ounces produced and 12.5% of all silver produced thereafter at Hackett River.

The Hackett River mineral resource estimate was completed by Xstrata and disclosed in its annual mineral resources and reserves report as at December 31, 2012.
 

Glencore has owned ‘Hackett River’ for more than ten years but there has been no further development since.

To unlock the value of this royalty the ‘Hackett River’ mine has to be developed.  There is value in this silver royalty but it will be a long time coming before it bears any fruit…
 
 
Sabina Gold & Silver Corp. | Hackett River (sabinagoldsilver.com)