Higher Grade Tonnage More Than Doubles In 2005 Mineral Resource Update At Hackett River.THUNDER BAY Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. , Ontario -- SABINA SILVER CORPORATION (TSX TSX Toronto Stock Exchange (TSE before April, 2002)TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SBB SBB Schweizerische Bundesbahnen (Swiss Railway) SBB Sports by Brooks (sports webblog) SBB Sociedade Bíblica do Brasil (Portugese: Bible Society of Brazil) ) is pleased to announce that Wardrop Engineering Inc. has delivered an independent mineral resource estimate on Sabina's 100% owned Hackett River Project, Nunavut in compliance with National Instrument 43-101. Aggressive exploration by Sabina in 2005 has more than doubled the Indicated mineral resource above the 15 oz/ton silver equivalent cutoff from the previous 2004 mineral resource estimate (August 15, 2005). In response to the new resource figures, Abraham Drost P.Geo., President of Sabina Silver Corporation states: "drill definition of a larger, higher grade core to the Indicated mineral resource gives the Company a strong basis to continue aggressive exploration and begin to apply economic parameters to the Hackett River Project". The Indicated mineral resource grade distribution at successively increasing silver equivalent cutoff grades is presented in Table 1. Table 1 2005 Cumulative Indicated Resource - Hackett River --------------------------------------------------------------------- Cutoff Tons Ag Eq Zn Eq Ag Zinc Cu Lead Au Ag Eq oz/ton % oz/ton % % % g/T oz/ton --------------------------------------------------------------------- greater than 20 11,046,617 26.57 12.17 5.67 7.69 0.41 1.19 0.52 --------------------------------------------------------------------- greater than 15 20,251,800 22.41 10.26 4.75 6.35 0.40 1.00 0.49 --------------------------------------------------------------------- greater than 10 31,300,755 18.88 8.64 3.92 5.30 0.37 0.84 0.45 --------------------------------------------------------------------- greater than 5 39,347,008 16.65 7.62 3.40 4.63 0.36 0.73 0.41 --------------------------------------------------------------------- The Inferred mineral resource grade distribution at successively increasing silver equivalent cutoff grades is presented in Table 2. Table 2 2005 Cumulative Inferred Resource - Hackett River --------------------------------------------------------------------- Cutoff Tons Ag Eq Zn Eq Ag Zinc Cu Lead Au Ag Eq oz/ton % oz/ton % % % g/T oz/ton --------------------------------------------------------------------- greater than 20 1,111,028 23.33 10.68 5.90 6.75 0.18 0.99 0.39 --------------------------------------------------------------------- greater than 15 2,875,910 19.85 9.08 4.79 5.65 0.23 0.88 0.36 --------------------------------------------------------------------- greater than 10 5,703,876 16.07 7.36 3.81 4.42 0.27 0.70 0.34 --------------------------------------------------------------------- greater than 5 8,766,884 13.22 6.05 2.96 3.49 0.34 0.54 0.30 --------------------------------------------------------------------- The 2005 drill program focused on optimizing the geological and structural model for the deposits and grade characteristics of the Boot Lake, East Cleaver and Main "A" Zone deposit areas. Metallurgical work on beneficiation beneficiation Treatment of raw material (such as pulverized ore) to improve physical or chemical properties in preparation for further processing. Beneficiation techniques include washing, sizing of particulates, and concentration (which involves the separation of valuable and optimizing recoveries of the Hackett River commodity mix is planned in 2006. Two other resource areas on the property, the Jo and the Finger zones, also have small silver and zinc dominant mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature which do not qualify under NI 43-101. The company plans additional aggressive exploration to expand existing resource blocks and hitherto untested resource areas in 2006. The 2005 resource estimate is based on a historical diamond drill database of 248 diamond drillholes with an aggregate length of 46,435 meters. Sabina's drilling in 2004 and 2005 comprised 105 holes with an aggregate length of 24,536 meters. Wardrop Engineering Inc. considers the prior, historical exploration database to be robust and essentially free from error allowing these results to be employed along with Sabina's 2004 and 2005 drilling in the estimation of Indicated and Inferred mineral resources at Hackett River. A system of standards, blanks and duplicates were inserted as part of the Company's QA/QC QA/QC Quality Assurance/Quality Control analytical procedures Analytical Procedures is one of financial audit skill which help an auditor understand the client's business and changes in the business, to identify potential risk areas and to plan other audit procedures. . Metal grades have been determined using ordinary kriging into a 3-Dimensional block model constrained by wireframes interpreted from drillhole intercepts. The deposit models were constrained within the wireframe An umbrella term for a general outline of some structure. For example, the rough design of Web pages may be called wireframes. See wireframe modeling. with primary block dimensions of 10m along the strike and 10m in the vertical direction. Metal tonnages and grades are reported using a Silver (Ag)-Equivalent cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, calculated using historical metallurgical recoveries and current metal price predictions. Wardrop Engineering Inc. has reviewed this press release and approved its release. The detailed mineral resource report on Hackett River will be filed on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review and on the Company website within 30 days of this release. The Mineral Resource estimates have been prepared in accordance with the Canadian National Instrument 43-101 based on information compiled by Harvey Klatt, P.Geo. Project Manager, Sabina Silver Corporation and Gregory Mosher Gregory Mosher presently serves as Director of the Columbia University Arts Initiative. He is a Tony Award-winning director and producer of nearly two hundred stage productions – at the Lincoln Center and Goodman Theatres, on and off-Broadway, at the Royal National Theatre, , P.Geo. Senior Geologist, Wardrop Engineering Inc. both of whom are Qualified Persons as defined in Canadian National Instrument 43-101. Sabina's 100% interest in the Hackett River Project is subject to a 2% Net Smelter Royalty (NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there ) to Cominco Mining Partnership (CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ). Etruscan Resources Etruscan Resources is a mining company based in Nova Scotia, in Canada, that operates gold and diamond mines in Africa. Etruscan mines gold and diamonds in the West African countries of Burkina Faso, Cote d'Ivoire, Ghana, Mali and Niger. Inc. retains a 10% Net Profits Interest (NPI NPI National Provider Identifier, see there ) capped at C$2 million. Sabina Silver Corporation is debt free, with over C$18 million in working capital. In addition to advancing the Hackett River Project, the company is also focused on its Del Norte Del Norte can refer to multiple things:
, in addition to four promising gold projects in the Red Lake Mining District, Ontario Silver Equivalency Model Metal Recovery Factors (Wardrop, 2005) Metal Recovery (%) Zinc 81.8 Silver 66.7 Copper 69.6 Lead 70.0 Gold 50.0 Silver Equivalency Model Metal Prices (Wardrop, 2005) Metal Price (US$) Zinc 0.53 lb; Copper 1.23 lb; Lead 0.38 lb Gold $434 oz; Silver $6.56 oz troy ON BEHALF OF THE BOARD OF DIRECTORS Abraham Drost, P.Geo., President/Director The foregoing securities have not been, nor will be, registered under the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful. This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Sabina Silver Corporation does have an ongoing obligation to disclose material information, as it becomes available. Shares Issued: 36,524,244 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ac curacy cu·ra·cy n. pl. cu·ra·cies The office, duties, or term of office of a curate. [cura(te)1 + -cy. or the adequacy of this release. Sabina Silver Corporation (TSX VENTURE:SBB) |
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