NorZinc issued draft permit for Prairie Creek all-season road
TSX-listed mine development company NorZinc has been issued a draft permit for the all-season road to its Prairie Creek mine, in the Northwest Territories, and expects to have the final permits in hand early in the fourth quarter.
The Mackenzie Valley Land and Water Board issued the draft permits and Parks Canada has indicated that it will issue its draft permits shortly.
The all season road permits will allow NorZinc to begin construction of Phase 1 of the road next year. In advance of this, the company will use the road to deliver supplies to the site to support the refurbishment of existing equipment and accommodation, as well as the repair of key infrastructure.
In 2021 and 2022, the main site construction at Prairie Creek is planned.
In the first ten years of its 15-year mine life, the Prairie Creek mine will produce an average of 95-million pounds a year of zinc, 105-million pounds a year of lead and 2.1-million ounces a year of silver.
A 2017 feasibility study estimated that the project has a pretax net present value, at an 8% discount rate, of C$344.5-million and an internal rate of return of 23.8%. Payback has been estimated at 4.4 years.
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