Sabina Gold & Silver Corp. (TSX: SBB.TO) announced this morning that it will raise $90 million to advance its Hackett River and Back River projects and for general corporate purposes.
Sabina, an emerging precious metals company, has undeveloped assets in Nunavut that span approximately 3,000 square kilometres and cover the largely unexplored Wishbone Greenstone belt. The company’s flagship properties are the Hackett River silver-zinc project and the Back River gold project, both advanced exploration properties, as well as the Wishbone Claims, a vastly prospective grass roots project. It also has exploration properties in the Red Lake gold camp in Ontario.
At press time, Sabina’s stock had dropped by $0.05 to $5.70.
Calls to the company for comment were not returned by press deadline.