QUEBEC - Toronto-based FALCONBRIDGE has announced that it will begin construction at the Perseverance zinc mine near Matagami. Construction will last about two years, and the mine life is anticipated to be five years. Approximately 225 permanent jobs will be created.
Perseverance ore will be processed at Falconbridge's former Lac Matagami facilities where administrative offices and the concentrator have been maintained since the Bell-Allard mine closed in 2004. The annual production of 228,000 tonnes of zinc concentrate will be shipped to and processed at the CEZinc Refinery in Valleyfield, Quebec.
Perseverance has measured and indicated resources of 5.1 million tonnes grading 15.8% Zn, 1.24% Cu, 29 g/t Ag and 0.38 g/t Au. The Falconbridge exploration team won the 2001 Bill Dennis Prospector of the Year Award from the Prospectors and Developers Association of Canada for discovering this deposit.
Falconbridge has a 90% interest in the Perseverance zinc property. See also www.Falconbridge.com.
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