NorZinc Announces the Commencement of Drilling at Prairie Creek
NZC-TSX
NORZF-OTCQB
VANCOUVER, BC, June 13, 2022 /CNW/ - NorZinc Ltd. (TSX: NZC) (OTCQB: NORZF) (the "Company" or "NorZinc") is pleased to announce the start of the 2022 drill program with the mobilization of the first of two (2) drill rigs to its Prairie Creek Project ("Prairie Creek" or the "Project") on June 12, 2022 in order to begin the planned 5,300 metres drill program.
The Prairie Creek site opened for the 2022 season on May 26, 2022 with the primary objectives of:
- undertaking a successful surface exploration drill program to obtain enhanced technical information to be included in an updated Feasibility Study for the 2,400 tpd project, and;
- preparing for the start of the Pioneer Winter Road ("PWR"), which constitutes Phase 1 of the All-Season Access Road, in Q3 2022.
Successful de-winterization of the administration building has been completed, along with the airstrip which was quickly cleared to receive aircraft. Site staff have focused on preparing the polishing pond to commence Water Treatment, upgrades to the administration building, drill pad preparation, and undertaking final mechanical repairs to the heavy equipment needed for start of the PWR.
Northtech Drilling from Yellowknife will be undertaking this season's drill program. Two drill rigs will be mobilized with the objective of providing further validation of the geotechnical structural controls which are part of the mining dilution volume estimates. Terrane Geoscience will undertake televiewer logging and analysis on the planned drill holes to provide the additional data required to improve certainty of the dilution estimates. Additional metallurgical sample collection, and testwork on the samples, is also planned to increase the accuracy of the concentrate quality and recovery forecasts for production years 1 to 5. Drilling activities are planned to commence mid-June 2022. By allocating two drill rigs, the Company will secure flexibility and capacity in order to also upgrade certain portions of the Mineral Resource Estimate and to perform additional exploration targeted to increase overall mineral resources. The program is expected to take approximately 4.5 months and run from mid-June to late October.
"We are very excited to be working with Northtech and their crews for this year's important drilling campaign," said Rohan Hazelton, President & CEO, NorZinc. "Stanley and Bryson Cochrane have a proven track record of successful drilling in northern conditions. We look forward to obtaining strong results that we will incorporate into our updated Feasibility Study to begin later this year."
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 closing and timing of the drill program and completion, timing, and results of the 2022 work program.
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 timing and results of the drill program could differ from the Company's expectations; changes to regional and global market, and the ability of the Company to complete the drill program.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the benefits and impacts arising from the drill program will be consistent with the Company's expectations.
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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