Saracen has entered into a binding agreement to acquire the Sinclair Project from Talisman Mining (TLM) for $10m plus a 2% NSR royalty. Sinclair was briefly mined for nickel between 2008 and 2013 and is currently on care and maintenance. This is a savvy acquisition by the Company as the project contains more than $10m in infrastructure, much of which can be transferred to Thunderbox (TB) for the underground development. In addition, Sinclair abuts SAR’s 1Moz gold Bannockburn deposit with mineralised structures interpreted to continue through both project areas. This acquisition is consistent with SAR’s ongoing strategy to consolidate neighbouring tenements and defined resources within a truckable range of its two production centres.
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