Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TrueScouse who wrote (20569)	9/16/2003 5:29:15 PM
From: GeoDude	Read Replies (1) \| Respond to of 39344

Howy, To follow up on our Zn stocks ... Not a bad release. Looks like management is qualified or that they have the talk. I should do some NPV calculations on this stock ... Canadian Zinc Corporation Press Release Tuesday September 16, 5:04 pm ET VANCOUVER, BRITISH COLUMBIA-- - Permits Issued - Focus on Silver - Grant of Stock Options Canadian Zinc Corporation ("TSX-CZN") - is pleased to announce that it has now received the formal permits for mining exploration and associated activities, including underground decline development, and for a metallurgic pilot plant at its wholly owned Prairie Creek silver zinc mine located in the Northwest Territories. ADVERTISEMENT Following an exhaustive permitting process, including a full environmental review by the McKenzie Valley Environmental Review Board, and approval by the Federal Minister for Indian and Northern Affairs, the Mackenzie Valley Land and Water Board ("the MVLWB"), the premier permitting agency in the region, has issued the Land Use Permit and a Type 'B' Water Licence for the Prairie Creek Mine for a period of five (5) years commencing September 10, 2 003. Prairie Creek - High Grade Long Life Silver-Zinc Mine The Prairie Creek project includes a near complete mine, mill and supporting infrastructure, along with a substantial mineral resource base totalling 11.9 million tonnes grading 12,5% Zinc, 10,1% Lead, 161gr/t Silver and 0.4% Copper. The mine was originally constructed, primarily as a silver mine, in 1982 but never achieved commercial production. During the 1990's Canadian Zinc significantly increased the mineral resource base at Prairie Creek and in 2001 completed a Scoping Study which demonstrated a viable commercial mine with a life of at least 18 years. The combined zinc/lead grade at greater than 22% metal per tonne places Prairie Creek amongst the highest grade mines in the world. 70 Million Ounces of Silver Prairie Creek contains a significant silver resource of over 70 million ounces, with the average silver grade of the resource of approx 6 ounces per tonne. Throughout 2003 further reviews and refinements of the Scoping Study were carried out focusing on maximizing the silver production from the mine. The studies recently carried out demonstrate that Prairie Creek will have a silver production cash cost, after all by product credits, of approx US$1.70 per ounce. With the recent recovery in the price of silver to over US$5.00 per ounce this would represent a very healthy cash operating margin of approx $3.30 per ounce, or the equivalent of about US$240 million over the life of the mine. In addition, further refinement of the Scoping Study has indicated that a high grade start up plan, from the decline area, would allow the production of about 7 million ounces of silver per year for the first three years of mine life at an average silver cash cost, after all by product credits, of about US$1.48 per ounce of silver. Typical silver grades of the high grade sections are about 10 ounces per tonne (320 gr/t.). ...