Sabina busy in Nunavut

Drilling by Sabina Resources (SBB-V) has intersected impressive silver mineralization at the Hackett River property in Nunavut.

The program expanded the extent of the Boot Lake deposit, cutting an interval as high as 566 grams silver per tonne, 21% zinc and 5% lead over 3.75 metres. The intercept occurred in a 23-metre-wide zone grading 230 grams silver, 10% zinc, 0.3% copper and 1.4% lead at a vertical depth of 250 metres.

Two other holes, spaced 50 and 100 metres to the west, also proved encouraging. The closer hole cut 21 metres grading 125 grams silver, 4% zinc, and 0.13% copper at a vertical depth of 225 metres. The interval includes 4.7 metres of 101 grams silver and 10% zinc, plus 13.5 metres of 113 grams silver and 6% zinc. The farther hole cut several narrower intervals 0.7-9.5 metres wide grading up to 700 grams silver and 12.4% zinc. The 9.5-metre interval graded 0.4% copper in addition to 4.6% zinc and 21 grams silver.

One hole tested the western extension of the A zone, returning 2.8-17.3 metres of 0.8-2.85% copper and 18-50 grams silver.

In July, Sabina will release a resource estimate based on drilling up to the end of 2004. Prior to National Instrument 43-101, Hackett River was estimated to contain 20 million tonnes of massive sulphides in five deposits.

A unit of Teck Cominco (TEK-SVB-T) holds the rights to either a buy-back option or a 2% net smelter return royalty. Etruscan Resources (EET-T) retains a 10% net profits interest royalty.

The Hackett River property comprises 70 sq. km and is 75 km south of Bathurst Inlet.

Sabina is also active in the Red Lake area of Ontario.