NorZinc Announces Receipt of Territorial Permitting Approvals for Construction of Phase 1 of the All-Season Access Road at Prairie Creek
NZC-TSX
NORZF-OTCQB
VANCOUVER, BC, Oct. 19, 2022 /CNW/ - NorZinc Ltd. (TSX: NZC) (OTCQB: NORZF) (the "Company" or "NorZinc") is pleased to announce it has received approval for all Management Plans ("MPs") from the territorial governing bodies, the Government of the Northwest Territories ("GNWT") and the Mackenzie Valley Land and Water Board ("MVLWB"), pertaining to the permit and license to construct the Pioneer Winter Road ("PWR"), which represents Phase 1 of the All-Season Access Road ("ASR") at the Prairie Creek Project ("Prairie Creek" or the "Project"). This start of construction on GNWT lands represents the beginning of the first land access to the Project in 40 years.
The Company continues to work closely with Parks Canada ("Parks") on the completion and final approval of the MPs as they relate to Parks' land and expects to receive these by the end of this month. Although the Prairie Creek Project is not located on Parks' land, a substantial portion of the access road will pass through the Nahanni National Park Reserve requiring final authorizations from Parks.
"We are very pleased to receive these approvals from the GNWT and MVLWB allowing us to start access road construction on territorial lands," said Rohan Hazelton, President & CEO, NorZinc. "The Company remains committed to the responsible development and mining at Prairie Creek to deliver the significant economic and social benefits to the local communities who are our partners in this process."
In November 2019, the Company received all authorizations constituting the full permit to operate both Phase 1 and 2 of the All-Season Access Road. Conditions of the permit to operate the access road include the approval of the MPs from all governing authorities including the MVLWB, GNWT and Parks.
NorZinc is a TSX-listed mine development Company trading under the symbol "NZC" and on the OTCQB under the symbol "NORZF". NorZinc is focused on developing its 100%-owned high-grade zinc-silver-lead Prairie Creek Project, located in the Northwest Territories.
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the completion and final approval of the MPs, management's expectations with regards to receiving this final approval, and the delivery of economic and social benefits to local communities in this process.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the risk that completion and final approval of the MPs may not occur within management's anticipated timelines or at all, and the risk that economic and social benefits will not be delivered to local communities as anticipated.
In making the forward-looking statements in this news release, the Company has applied several material assumptions which the Company believes to be reasonable, including without limitation, assumptions regarding the completion and final approval of the MPs will occur within the timelines currently anticipated by management, and the delivery of economic and social benefits to local communities as anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE NorZinc Ltd.
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