TSX-V-listed ScoZinc remains in active discussions with various capital providers for the Scotia project, near Halifax, the company said on Friday.
The company recently completed a prefeasibility study (PFS) for the project, which indicates that the past-producing zinc and lead mine could achieve commercial production in 12 months or less from securing project finance.
ScoZinc said it was “aggressively pursuing” the project finance required to start commercial production.
The PFS estimates that the mine will require about C$30-million.
Meanwhile, ScoZinc president and CEO Mark Haywood expressed the company’s gratitude towards the government of Nova Scotia, which had contributed C$150 000 towards the cost of the Scotia mine’s PFS.
The contribution was made through a grant from the Mineral Resource Development Fund.