Conceptual layout for the Prairie Creek zinc-lead project. (Image: Canadian Zinc Corp.)
VANCOUVER – Canadian Zinc Corp. is gearing up for the final push of fundraising for its Prairie Creek zinc-lead-silver project in the Northwest Territories. Management will ask that the company be reorganized at its annual general and special meeting to be held on June 27, 2018.
Canadian Zinc wants to create a separate publicly listed holding corporation, to be named NorZinc Ltd., and a wholly owned operating subsidiary. All of the Prairie Creek assets will be held by the subsidiary. IF the arrangement is approved, Canadian Zinc shareholder will exchange their shares for NorZinc shares on a 1-to-1 basis. NorZinc would then trade on the TSX under the existing symbol, CZN.
The updated Prairie Creek feasibility study was released in September 2017. It lays out a 15-year mine plan and raises mill throughput to 1,200 tonnes, a 25% boost. The project is expected to produce 64,800 tonnes of zinc concentrate and 71,600 tonnes of lead concentrate annually during the first 10 years of operation.
Additional details are posted at www.CanadianZinc.com.