Operator

Glencore plc

Terms

2.0% NSR

Acquisition Date

2016 / Jan / 19

The Hackett River property is located in Nunavut, Canada, approximately 480 km northeast of Yellowknife and 105 km south of the community of Bathurst Inlet, located on the Arctic Ocean. Hackett River is a silver-rich volcanogenic massive sulphide deposit within an Archean greenstone belt and the property contains four massive sulphide deposits (East Cleaver, Boot Lake, Main Zone and Jo Zone) that occur over a 6.6 km strike length.

A Preliminary Economic Assessment was completed in 2010 and evaluated a possible large-scale open pit and underground mining operation, processing up to 17,000 tpd. The proposed process plant was a crushing and grinding flotation circuit that would produce a saleable concentrate for zinc, lead and copper with an emphasis on optimizing silver recovery. The projected average metal recoveries were 75% for copper, 55% for gold, 77% for silver, 85% for lead and 92% for zinc.

Recent Activities

December 2017
Effective Dec. 31, 2017 Glencore reported an Indicated Mineral Resource of 27.0 Mt containing 4.5% zinc, 130 g/t silver as well as 0.6% lead, 0.5% copper and 0.3 g/t gold. The Inferred Mineral Resource at Hackett River contains 60.0 Mt of 3.5% zinc, 0.5% lead, 0.4% copper, 150 g/t silver and 0.2 g/t gold. The cut-off grade was not reported.

Hackett River

 

Hackett River Royalty Map
Hackett River Royalty Map