Bunker Hill Mining Corporation, which is gearing up to reopen the historic Bunker Hill mine in Idaho’s Coeur D'Alene zinc, lead and silver mining district, has started work on a technical report, which it will use to apply for a listing on the TSX.
The National Instrument 43-101 technical report on the Bunker Hill property is expected to be released in the third quarter, Bunker Hill Mining CEO Bruce Reid said in an investor update on Thursday.
For the report, data from about 1 000 historic diamond drill holes will be used. Bunker Hill has drill logs for more than 3 400 holes historically drilled on the property.
The technical report is a precondition to a TSX listing.
Bunker Hill has also completed an internal mine plan for the property and has started planning for a process plant technical study, while work is ongoing on arranging financing for the $75-million that will be required for a mine restart, Reid reported.
A tender process for the engineering study, covering bulk sample, metallurgical testing, flowsheet design, a feasibility study, engineering design and an engineering, procurement and construction contract, will be concluded soon. The study will be for an on-site 1 500 t/d modular processing facility, which will allow for a potential future doubling of throughput rate.
In terms of financing activities, Reid said that Bunker Hill Mining had been engaging potential financing partners, including financial groups and mining companies, to fund the restart of the mine.
“Bunker Hill is currently in discussions with sophisticated potential investors with deep knowledge of mining risk and an understanding of the significant value that the Bunker Hill mine represents,” he stated.
The mine was first discovered in 1880, and operated for nearly a century – producing 36-million tonnes grading 8.76% lead, 4.54 oz/t silver and 3.67% zinc, for total value of mineralisation at Bunker Hill.