YUKON – BARCLAYS CAPITAL has promised a senior project debt facility of US$140 million that will allow Vancouver-based YUKON ZINC to proceed with its Wolverine zinc-silver mine and mill in the Finlayson District. The loan is subject to customary conditions precedent, including the raising of sufficient equity capital to complete the project development.
The Wolverine project will be an underground cut-and-fill mine with a mining rate of 1,440 t/d mill feed. After passing through a dense media separation (DMS) plant, the ore will be cycloned to produce 1,250 t/d of feed for the grinding and flotation circuit.
The Wolverine deposit has a diluted high-grade proven and probable reserve of 15 million tonnes grading 9.66% Zn, 0.91% Cu, 1.26% Pb, 281.8 g/t Ag and 1.26 g/t Ag. Putting it into production beginning in 2009 will have a total capital cost of US$250 million. Go to www.YukonZinc.com for the latest news.